DERO Monthly Update

Published in

DERO

7 min readMay 31, 2019

May 2019

This month we would like to really thank the community for their patience as the team is making great progress in shaping the future of DERO. In continuing with our new tradition of providing more information to our dedicated members…

DERO Code Audit

We are pleased to announce a partnership with the very skilled blockchain security firm, SlowMist. With over ten years of experience in cyber security defense, they have applied their unique talents toward testing the safety of DERO’s Atlantis release, which included testing the security of the Golang code, RPC, P2P protocol, account and transaction models, and core consensus. Rest assured, this audit did include double spend testing and other attack vectors.

We appreciate the professionalism and hard work that the SlowMist team has provided us. They were truly a pleasure to work with and we hope for a renewed partnership for future releases.

Please read the full audit below:

(The PDF version of this report will be added to our forum and website)

When Foundation?

Well, as a follow-up to our previous monthly update, the DERO team is finally nearing the formation and commercial registration of the DERO Foundation in the Netherlands. As we move forward in building on areas including finance, governance, and business development to name a few, we would like to focus on the core objective of the foundation.

The foundation’s objective is:

To integrate decentralized privacy systems and standards within the digital ecosystem to help shape a more open society by providing support for the advancement of the DERO platform; which in turn, will allow for the creation and deployment of private decentralized applications, payment systems, and tools.

While there is a lot of work ahead, the team has taken the initial steps toward bringing our innovative solutions to mass adoption. Along the way, we will be leaning on our highly committed community members to help shape the future of this project. We will match this commitment with one of our own: to keep this process as transparent as possible and to always affect positive change in all areas of our development, together.

The DERO team will be able to provide more information about the foundation in future updates and through engagement with the community to ensure that it is a transparent and representative process.

Build Competition Winners

The Build Competition was created to see what innovative, fun, and functional Smart Contracts could be deployed on the Stargate release testnet, which introduced the DERO Virtual Machine (DVM) and the initial implementation of Smart Contracts. With a prize pool amounting to 10,000 DERO coins, we had a really difficult time deciding on the winners with so many great entries. So, without further ado, we would like to congratulate the following entrants for their outstanding work:

First Place (5000 DERO)

Boundless Galaxy by plrspro

Second Place (2000 DERO)

DERO Marketplace by Peppinux

Third Place (1250 DERO)

DERO Racers by thedudelebowski

Honorable Placement (250 DERO)

DVM Paywall by lampdev

HODLworthily by denishuvelle

DERO Dice by Nelbert442

Website Check by thedudelebowski

Roulette by denishuvelle

DERO Multisig by plrspro

Vote by cryptolemico

We would like to thank everyone that participated in the competition and those that spent countless hours testing our latest release. We will be reaching out to the winners to arrange the transfer of the prizes.

If you would like to view all of the entries, please click on the following link to visit the submission page on the DERO Forum.

DERO Development Progress

We are currently working on fixing minor bugs and adding optimizations for introducing the Stargate release on to DERO’s mainnet. We are hoping to launch our Private Smart Contracts very soon, but we please ask for your patience a little while longer until we have resolved those issues. Testing is an integral part of the development process and should not be rushed, but rest assured that the development team is working hard to push Stargate to mainnet as soon as possible.

The development team also has a long list of technical breakthroughs pending. We look forward to bringing you more details on these in future updates.

An Introduction to DCAB-E

In the last few weeks we have transitioned from the DERO Community Advisory Board (DCAB) to DCAB-E (Extended) with an overhaul of the structure and the addition of new members. We are pleased to welcome the following individuals:

89ron, Azylem, Danafrica5, Denis, Gfox, Jopari, Maarten, Makki, Noshyxa, Slixe, Steven Toast, Thedudelebowski, Vrethans, and Zoz

Objective

The objective is to explore and develop certain aspects of the project in a decentralized manner, without adding to the Core Development Team’s workload.

Selection Process

Members are currently selected by the DERO team and the criteria is primarily based on a positive attitude, willingness to contribute, technical savviness, and strategic vision, but mostly a genuine motivation to drive the DERO Project forward. The first DCAB was implemented in July 2018 with intent to have several representatives of the DERO community contribute actively to the development of the project. In May 2019, several new members were invited to extend the DCAB — currently referenced as DCAB-E (Extended), this transition was to allow for fresh ideas and to ensure proper representation of the community.

Functions

Members are free to create decentralized organisational units, or work independently on what they deem is most important for the project, but some of their efforts are coordinated and guided by the team. DCAB-E members exchange ideas in a dedicated discord channel and cooperate in a collaboration work space. Members are not compensated for their efforts and contribute on a voluntary basis. There is no inside information from the project team that is shared with DCAB-E members, they are on equal footing with the rest of the community. Most discussions are related to community events, supporting community management, and focus on new efforts that will benefit the project and its community.

Current Tasks

Members are currently focusing on the following tasks:

· Establish structure in how to operate and interact with the DERO core development team and the community.

· Implement organisational tools for operations (collaboration workspace, CMS, etc.)

· Identify member skills for assignments.

Members have also agreed to create reports for community feedback and to track progress. More details on this will be provided by DCAB-E in the coming days/week.

CoinEx Listing

As many are already aware, CoinEx has just listed DERO on their trading platform. CoinEx has been going through some major development to bring more security and trust to their user base by seeking out more innovative projects and building out their chain-based decentralized exchange. We wish them all the best and look forward to future growth opportunities.

Please read more about their promotion of DERO at their official announcement page.

Happy trading!