Essentia 2020 Milestone Recap
This last year was full of milestones for Essentia’s development. Apart from following the published roadmap, we got a chance to tap into a new territory — Decentralized finance, which was highly requested by our community. A lot of work has been put into the last year’s development, and we decided it’s time for us to look back at all the milestones that we’ve reached, and map the future of the project.
By the end of this article, you’ll know what progress we’ve made, and what direction we’ll be taking in the next months.
Without further ado, let’s get into it.
2020 was a year of the blockchain for us. It started with a major milestone of kickstarting our own blockchain with services to accompany it. While technically we announced the launch in the last days of 2019, we stepped into 2020 having to pass the audience check, fix bugs, and refine services.
The Token Swap Launch
The first service accompanying the Essentia blockchain that was launched is the token swap. Since the day we have been trying our best to ensure the utmost services of every user to ever try Essentia. This time was no different. In order to make every transaction secure, we have built the token swap service into the Essentia Desktop, where our users can easily exchange their tokens for coins with no concerns.
The service is still running and is available for all OSs.
Since at that point, the mainnet was already running, and people could easily install their Masternode using the console, we had to revamp our Blockexplorer. And we did! Here’s a list of the most prominent features we worked on, and implemented:
- Renewed design: a makeover with every community suggestion in mind.
- A dark theme.
- See and check the info about the latest transactions performed on the blockchain.
2) Masternodes monitoring tab: monitor your nodes — status, active time, tx hash, address, etc.
3) Broadcast raw transactions: use the Essentia blockexplorer to easily send your signed transactions.
4) Masternode Info tab, with:
A quantity of Mars and Mercury Masternodes are running on the network.
Ess Masternode Stats Window.
…and a million UI adjustments.
Staking Reward Calculator
While technically it can qualify as the Blockexplorer update too, the rewards calculator deserves to be mentioned separately. Taking into account the people’s voice we have put a lot of effort into developing a calculator that would count the daily, weekly, monthly, and yearly reward for deploying your masternode.
Apart from this, in the new Staking calculator you can theoretically measure what would be your reward if you staked on the Essentia Network, and if you already did, to calculate what you’re earning at the current time.
The Wallet Updates
This year we have been focusing heavily on improving the user experience of the Essentia wallet, namely:
- Token swap process updated with more instructions;
- The registration process is changed: now it’s a lot less time consuming;
- Refresh balance button: now you can see the status of your balance as it is, with only one click of a button.
- Translated the app into the Russian language: now it’s available in English, Chinese and Russian.
The one feature that was so highly requested by our community is the masternode auto-deploy. Released on September 2nd, auto-deploy allows you to install the Essentia masternode in just a few clicks. No coding, no hassle, no difficult installing processes. All you need is ESS coins that you got after conducting the token swap/
In August the Essentia token got listed in one of the most popular exchanges of today — Uniswap. Yay! With that happening, we have gradually added the liquidity there — in order to provide the possibility for our users to trade the token with no restriction. But, you helped too! As we released the guide on how to add liquidity to the Uniswap, a lot of you joined the pool as well. As always, thank you for the continuous support you’re showing!
The year 2020 was a bit scarce on events — for obvious reasons. Still, we were lucky enough to visit the Blockchain Economy Conference in Turkey, before the pandemics struck. It is always exciting for us to go and meet some of the greatest minds of the crypto community!
Plans for 2021
One thing that we didn’t mention on the development recap was us working hard on introducing the DeFi solution for the Essentia app. We weren’t talking too much of it anywhere, since it was taking time to develop, but today we feel like we are ready to share the news!
We’re still not quite there just yet, however, the hardest part is already done, and we’re on the verge of introducing the Essentia DeFi.
What will it entail?
The liquidity mining service, and the lending/borrowing service.
At Essentia, we always try to go in the direction our audience shows, that is why as soon as decentralized finance was popping all over our chats, we knew exactly what to do.
That is it for today’s recap. The Essentia team would like to use this opportunity to thank everyone who supports the project: this means the world to us and gives us the motivation to go further, into the decentralized world we imagine. Now that we’re moving into the DeFi direction, we believe it will offer a lot more value and leverage of the Essentia platform — for every user, new or savvy. We’re already on the verge of releasing the renewed platform, so stay tuned for the news.
The updated Essentia is right around the corner: in the next, 2021 recap we’ll have even more milestone boxes to check.