Fundchain monthly update

Hello Fundchain community,

Hope all of you are healthy and safe during these difficult times. The current covid-19 situation is very difficult for all individuals, communities as well as projects. It has affected all of us in all aspects of our daily life but we will all come out of this strong together. Stay safe and healthy everyone. Todays blog is our regular monthly update on the fundchain project.

Let us begin by informing that after we switched to announcement channel only mode on the telegram platform we have had many of our community members contact us through our email for their clarifications. We were happy to hear from you all and have replied each and every email we have received enquiring regarding the project. With the covid-19 situations even our operations have been affected. Our team had to shift to the work from home mode but we as a team is as focused as ever and working remotely. We have had few sessions online in the past weeks with various beta participants to take in their feedbacks and make the best use of it. From the past beta tests, the latest crowdfunding beta tests we have decided to make a few changes with app and overall directions of the project. To put it in a nutshell we have decided to give more emphasis and focus on the crowdfunding feature of the project. Let us explain.

From the discussions, brain storming sessions, feedbacks and usage insight of our app we have discovered that the most wanted and used feature of our app is the crowdfunding aspect of it. We basically allow donation based crowdfunding to be carried out on our app and currently since we are on the Ropsten testnet we allow anyone to set up a crowdfunding campaign without the full verification process so that the users can have an easy experience of the campaign process. The verification process will be implemented once the app is switched to the mainnet once implemented only verified campaigns will be available for donations in the app an additional security measure from our teams side.

In the past weeks we have been getting many requests to include reward based crowdfunding too into our app. We have been researching the method in detail and crosschecking various scenarios were we can successfully integrate it into the app. Based on the research & validations our team has done we feel the reward based crowdfunding system will bring an extra advantage for the campaign creators as it will be an encouragement for donators to participate in the crowdfunding campaigns.

Just for clarity below we have illustrated both methods:

We have decided to include reward based crowdfunding method too into our app and the development process for the feature integration are already in progress. Once included and the current process of crowdfunding modified there will be few changes in effect which will help to provide an additional layer of security to the donators. In the new changes we will also implement a method of making sure that the funds donated through the reward based crowdfunding process is returned to the donators if the campaign dose not reach the minimum amount preset for the campaign.

The App is currently live on the Android and iOS app stores and can be downloaded. The Fundchain Beta version of the App is deployed initially on the Ropsten Test Network. The Testnet is an alternative Ethereum blockchain, to be used for testing. Testnet coins are separate and distinct from actual coins, and are never supposed to have any value which helps our users to test the app without any loss of real coins. The most popular public testnet is called Ropsten which is the one we have deployed our app on currently.

Start inviting your friends, families, community members and let them know that now there is a better solution to run crowdfunding campaigns.

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Telegram: https://t.me/AZfundchainAnnouncements

Fundchain support Email : info@azfundchain.io

website: https://www.azfundchain.io/