CoDeTech
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CoDeTech

Development Update

Read about the recent Ping Exchange and CorePass advancements, a few surprises, and more!

Hello, Core Nation, we are entering the final weeks of preparation prior to seeing the light of the first CoDeTech ecosystem products going live. The long-awaited CorePass and Ping Exchange are about to change the world and will look at the value of digital identity and being able to trade and manage digital assets in the safest exchange to date.

We are, therefore, excited to update you on the current status of development.

It should be noted that the upcoming time period does not only revolve around the release of CorePass and Ping Exchange but also around some indication of when the Core Token and the Core Coin shall be listed on the market for the very first time.

So, let’s take a look at where we stand at the moment and what important news you shouldn’t miss. We will start with Ping Exchange.

Ping Exchange

As you probably know, in the last update, we wrote that Ping Exchange and its release are divided into 2 phases, specifically:

✅Phase One — Closed inter-company testing simulation with all our team members, to ensure that there are no issues that will also set the market pairs. COMPLETED

🕓Phase Two — Official release to the public. COMING UP

During the last few months, we have been carrying out very extensive testing. We are happy to say that phase one has been successfully completed and we are now approaching phase two of our testing.

Roadmap:

  • The New Ping Exchange website will be released before the end of September 2022, with a few limited features, but not representing a tradable platform yet.
  • Ping Exchange will go live immediately after the CorePass login application has successfully been tested and released to the public.

Ping Exchange will provide a wide spectrum of tradable pairs and the possibility to list new assets and commodities in Ping’s Launchpad.

The platform will initially offer trading in the following pairs:

Stage 1

Crypto

  • Core Coin

XCB/ BTC, XCB/LTC, XCB/ETH, XCB/CTN, XCB/EUR, XCB/USD, XCB/GBP, XCB/ZAR, XCB/JPY, XCB/CHF

  • Core Token

CTN/BTC, CTN/LTC, CTN/ETH, CTN/EUR, CTN/USD, CTN/GBP, CTN/ZAR, CTN/JPY, CTN/CHF, BTC/LTC

  • Bitcoin

BTC/ETH, BTC/LTC, BTC/EUR, BTC/USD, BTC/GBP, BTC/ZAR, BTC/JPY, BTC/CHF

  • Litecoin

LTC/ETH, LTC/EUR, LTC/USD, LTC/GBP, LTC/ZAR, LTC/JPY, LTC/CHF

  • Ethereum

ETH/EUR, ETH/USD, ETH/GBP, ETH/ZAR, ETH/JPY, ETH/CHF

Stage 2

Forex

  • Euro

EUR/USD, EUR/GBP, EUR/JPY, EUR/CAD, EUR/NZD, EUR/NOK, EUR/SEK, EUR/PLN, EUR/HUF, EUR/CHF, EUR/CNH, EUR/CZK, EUR/MXN, EUR/RON, EUR/ RUB, EUR/TRY, EUR/ZAR, EUR/AUD, EUR/SGD, EUR/CLP, EUR/KRW, EUR/CZK, EUR/DKK, EUR/JPY

  • United States dollar

USD/GBP, USD/JPY, USD/CAD, USD/NZD, USD/NOK, USD/SEK, USD/PLN, USD/HUF, USD/CHF, USD/CNH, USD/CZK, USD/MXN, USD/RON, USD/RUB, USD/TRY, USD/ ZAR, USD/AUD, USD/SGD, USD/CLP, USD/KRW, USD/CZK, USD/DKK

  • South African rand

ZAR/USD, ZAR/GBP, ZAR/JPY, ZAR /CAD, ZAR/NZD, ZAR/NOK, ZAR/SEK, ZAR/PLN, ZAR/HUF, ZAR/CHF, ZAR/CNH, ZAR/CZK, ZAR/MXN, ZAR/RON, ZAR/RUB, ZAR/TRY, ZAR/AUD, ZAR/SGD, ZAR/CLP, ZAR/KRW, ZAR/CZK, ZAR/DKK

  • British pound

GBP/USD, GBP/JPY, GBP/CAD, GBP/NZD, GBP/NOK, GBP/SEK, GBP/PLN, GBP/HUF, GBP/CHF, GBP/CNH, GBP/CZK, GBP/MXN, GBP/RON, GBP/RUB, GBP/ TRY, GBP/ZAR, GBP/AUD, GBP/SGD, GBP/CLP, GBP/KRW, GBP/CZK, GBP/DKK

  • Japanese yen

JPY/USD, JPY/GBP, JPY/CAD, JPY/NZD, JPY/NOK, JPY/SEK, JPY/PLN, JPY/HUF, JPY/CHF, JPY/CNH, JPY/CZK, JPY/MXN, JPY/RON, JPY/RUB, JPY/TRY, JPY/ZAR, JPY/AUD, JPY/SGD, JPY/CLP, JPY/KRW, JPY/CZK, JPY/DKK

Metals

  • Gold

XAU/XCB, XAU/CTN, XAU/EUR, XAU/USD, XAU/GBP, XAU/ZAR, XAU/CHF

Stage 3

At this stage, we are planning to fully embrace the potential of the platform and bring about all kinds of trading, including stocks, bonds, ETFs, and commodities.

Ping Exchange

CorePass

We left the most important piece of news for last, as we believe your identity is your most valuable possession and you should be able to own all of its rights and be able to protect it. CorePass is doing just that and it is, therefore, a very unique application. CorePass is truly one of its kind. We had to improvise and develop it all from scratch as there were no guidelines in building a digital identity in a truly decentralized network, something that has never been done before. Many of the procedures and functions that we had to develop were mostly based on trial and error rather than R&D as there is no documentation or guidelines available. This trial and error process was of course the primary reason for the long process of the development of Core Pass.

With that said, it is also important to remember that this application is not only a new form of login, a digital identity, and a wallet but also a full user rights management platform. The scope of this application greatly exceeds any standard application and our focus on user-friendliness has made it even more difficult to develop. If you thought you were smiling when we released the Core Blockchain, this puts the CoDeTech Ecosystem in a whole new league that greatly outruns any form of digital identity.

Herewith is a real breakdown of things that have been developed:

  • ✅We added a new service called Wallet Service, which secures our KYC Platform more than before. The KYC Platform does not hold any Private Keys and only provides authorization through the Wallet Service. To put it simply, it is an offline signature.
  • ✅A library called CoreBC has been developed to be used for Websites, NodeJS applications, and Core Blockchain Smart Contract developers. This library will be publicly available and will be open source. It will be the equivalent of Ethers.js for Core Blockchain.
  • ✅A library called Ylem Scripts has also been developed. This is to further develop, test and deploy Smart Core Blockchain Contracts.
  • ✅Core Token Smart Contract has been fully deployed on Core Blockchain and has been audited for any security issues and any security flaws that were found have been fixed.
  • ✅The structure of the KYC contract and KYC data transfer contract has changed to add the following features:

The KYC contract is now upgradable, meaning that it will have the possibility of adding new KYC fields (for example, in the near future, digital attributes surrounding you and your claims of ownership, and relationships to individuals and/or companies can be easily added).

The data transfer can be handled by multiple simultaneous data transfers. (Because of a Nonce problem with CoreToken, in the previous version of KYC data transfer smart contract, data transfers could only be handled one at a time.) Now, we can have as many simultaneous data transfers as we want.

The KYC Vault smart contract has been added, which serves as a storage for all the user’s KYC data and guarantees that doing KYC once will hold the KYC data for eternity.

  • ✅The CorePass application is seamlessly integrated with Core Blockchain allowing CorePass to hold and manage CTN, XCB, and KYC NFTs of Core Blockchain.
  • ✅The P2P communication of CorePass is now using the Ed448 for authentication and has migrated from Secp256k1. Each connection between two peers is now end-to-end encrypted using Ed448. Enhancing the security immensely.
  • ✅The CorePass CNS (Core Name Service) Smart contract for companies has been added, and CorePass is now supporting Premium CNS for enterprises.
  • ✅Registry Smart contract has been added so that community-driven applications can use CorePass Smart contracts easier.
  • ✅Many UX improvements have been added for CorePass to ensure ease of use and this could only be done through trial and error.
  • 🕓We are currently implementing the CorePay platform, where we will be able to open up the possibilities for people to buy CTN, XCB, and KYC NFTs with Crypto. It is worth mentioning that this function might not be available with the first release but we are trying our hardest to make it possible.

One of the major reasons for the delay is due to a serious issue we encountered with the P2P network, where some of the service providers changed their policies. Moreover, global network outages made the application fail while using some of its services. These events have occurred a few times, especially in the last few days just prior to the release during our internal testing period.

To find these issues you always begin by looking into the application. Due to us not tracking activity, finding such issues is extremely hard. In simple terms, it is like throwing a needle into a haystack and then spreading the haystack all over. Then you have to go and try to find that needle.

Once we realized that the problem was not in the CorePass application itself but rather in the communications infrastructure, we decided to take drastic measures and expand the P2P network using CorePass Powered P2P nodes. This does cost us some time as we need to create the nodes, deploy them and then test them. After all, we cannot release an application and then run into issues causing the users not to be able to use it, let alone help us test the application. As soon as we are done configuring those Nodes, we are ready for Public access to CorePass on the Core Blockchain TestNet. We would like to emphasize that this testing strategy that we will implement is to protect the user along with their data which has no room for error as we are working with real data even in this test environment.

We will say this again, with CorePass being one of the first applications we are releasing, our reputation is at stake and we want to make sure that our community is proud of what we have built together and are striving to achieve. CorePass is by no means an application to be taken lightly as it is the entrance into a digital world that will help make the online environment a safer and better place!

Roadmap:

We are restarting the internal closed testing next week to ensure that everything is functioning and behaving correctly, which can last up to 2 weeks. Should any bugs or issues be found that can break the application, we would first need to fix them. If not, we will prepare the open public testing on the 14th of October 2022.

However, we want to be clear that this is only a proposed date and is not set in stone as there is a chance that we might find a bug. Depending on the severity of the bug, the date might be changed as we would first need to fix the bug if it is critical. We would then need to test the application again and the redeployment of the application and network could take some time, which we cannot define. Should it be possible to do it sooner, we will, of course, do it immediately.

We will release a video where we will explain everything in depth about CorePass and what types of tests we are looking for. We will also explain the possibilities of receiving bounties when a bug is found and how the overall testing should work with the different types of transactions.

Once the Open Public Testing has taken place, where we are planning to do about 10,000 verifications and about 30,000–50,000 transactions with no issues, once we have achieved this goal, we will be able to release the application into the market. We cannot, at this stage, specify the date as it depends on whether a critical bug is found.

The severity of the issue will influence the time to fix it, which will define the actual release. The CorePass application security will be examined thoroughly by CorePass’s developers and the security team so we can be 100% sure our user’s assets and identities are safe and secure. However, we want to be 200% sure and we want to give our early adopters (early users to walk into the future of identity) a memorable testing environment that would make everyone proud.

We are releasing an application that deals with highly sensitive data, digital assets, and the responsibility we do not take lightly. We are working as hard and fast as we can and we are silent because of that. However, we are in a position now to give more regular development updates and results of testing which we will try and get out to you regularly.

CorePass

Core Starburst NFT and Core Blockchain Network Deployment

Finally, we have one very exciting piece of news for you regarding the first ever NFT created on the Core Blockchain that goes by the name Vega.

Inspired by the second brightest star in the sky after the Sun, Vega boasts attributes that make it more advanced than your regular NFTs. We can call it a Multipurpose Flexible Token (MFT) as it represents a hybrid combining the strongest aspects of Core Blockchain.

We plan to release more information about this NFT on the weekend, both the article dedicated to Vega NFT and its subsequent sale are still coming this month.

We are currently also deploying the Core Blockchain Network in non-financial solutions in Accounting Compliance and Accountability for Schools in South Africa. Another solution using the Core Blockchain Network and Smart Contracts is currently implemented in two different agricultural applications, one in genetics and the other one in a farm-to-fork solution.

We are also in the beginning of writing a user requirement specification for:

  • a manufacturer in the automotive industry starting with client profile and product maintenance, and
  • deployment in two logistics management platforms high value commodity and metals transport.

In Conclusion

It truly is exhilarating to watch the interest in the Core Blockchain and the deployment of Core’s Ecosystem grow every day! We are excited to share with you all that we are receiving new requests for blockchain-based applications on a weekly basis, which will soon turn into reality in the upcoming weeks in one form or the other.

We are positive that you are as excited as we are for all the things to come. It’s been a long road filled with many challenges and sometimes even disappointments. Thanks to our amazing team, though, we are now truly just around the corner of the long awaited CorePass and Ping Exchange! If you missed the Coin Club Japan video by Yusuke where you can actually see the software working and Yusuke familiarizing himself with the platforms, please, feel free to check it out ➔ https://youtu.be/vDw2G6hL1iA

We cordially invite you to jump on the wave of excitement with us and get your hype train tickets ready. Let’s join hands in stepping over the finish line together!

Kind regards,

Core Decentralized Technologies Team

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CoDeTech

CoDeTech

Core Decentralized Technologies I We are a blockchain technology corporation.