OpenChat Weekly Project Report (October 18, 2019)

The OpenChat weekly project report is shared regularly to keep the community updated about the progress made in development (whether it be blockchain development, business development or community development). The report will detail the work carried out by the teams and shed light on the status of the project.

OpenChat Development Progress and Mainnet Status Update

Mainnet Development Progress

1. Adjusted the OpenHarma incoming/receivables monitoring mode, fixed several bugs that could potentially cause large-scale crashes.

2. Developed a private key custodian function, which works in this fashion: when a borrower initiates a loan request, an address will be generated for storing the borrower’s collateral, and this address will be entrusted to hold the borrower’s assets during the duration of the contract. The private keys will be assigned to the borrower. Through this process the asset custodianship becomes decentralized.

3. Currently researching the imbalance between interest rates and incoming/receivables caused by OpenHarma.

4. Started to conduct the early phase of the smart contract custodianship procedural testing, and categorized open-source and sealed-source codes.

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