June marked the completion of multiple tasks that were eagerly awaited for by our community.
During the month of June, our developers successfully completed the technical integration of the new inventory. From that point onward, the only tasks left before deployment were the certification process with each inventory provider and final bi-party test bookings that followed after certification.
As you may be aware, roughly a week ago we successfully deployed the full inventory. You can read the full announcement here.
This deployment involved a total of 521,000 properties across the globe, which was 121,000 more than promised.
June also marked the completion of key user experience features. One of them was the improvement in search speed. We had already reported a significant breakthrough for that metric in our previous monthly recap. On top of that, we achieved even better performance through additional tweaking.
As a result, searches are now 230% quicker when compared with the previous version.
Improved search speeds are further supported by the newly developed “Last best Price” feature. Our team co-developed this to contain a separate database of “last searches” which can be queried instantly and fill the price gap until more recent results are fetched from our partners as a background process.
Another key feature that we developed was the search functionality by hotel name. Previously it was only possible to search by cities, which was a noticeable limitation compared to other booking sites. The new deployment makes it easier to find what you are searching for.
In addition, we’ve started to work on enhanced Geo-search, expanding the search capability beyond cities to regions and smaller locations like villages.
Success-Rate for Bookings
One important metric we are perpetually tracking is the ratio between successful and failed bookings. We have made incremental improvements in that area, but have taken a stronger focus recently.
As we gear up for the production version, it’s important to improve the success rate beyond the current 95%. This is why we’ve rebuilt the architecture of processes that happen in parallel to the booking itself. Those happen in the background, such as data transmission with third parties and payment execution that is followed by its confirmation.
Each of those processes is a potential source of failure. The new architecture is designed to enhance the reliability of each of them individually and synchronize the chain of events as a combined body.
Two more features we’ve focused on throughout June were:
- Lightning fast hotel page and checkout experience — Hotel detail page now loads up to 80% faster than before, so are all other pages throughout the checkout process.
- Room level mapping in backend — We’ve integrated the first layer of our room level mapping. This results in a greater set of combination of rooms as available options to choose from (up to 100 combinations for a hotel of bigger size).
On the Blockchain front, we have released wallet version 17.3 and concluded Testnet 1 slightly ahead of schedule. The reason for this was that we have identified the source of error that was causing multiple forks across the network.
Towards the end of June, we started building a dedicated environment to test towards that source of error. If it is confirmed by our tests, we will quickly launch a lighter Testnet 2 with a shorter duration.
In addition to this, we have completed the work on the Blockchain Explorer upgrade. Testnet 2 will be launched with a fully functional Explorer.
During the past few weeks/months, we have worked on our upgraded LOC economy that will soon be shared with our community. The core of our work was the development of economic models and simulations to better understand the long and short term effect of each decision we might make.
We believe that there is a path to significant improvements both in terms of long-term value and efficiency.
— Your LockTrip Team
LockTrip is the first marketplace with 0% commission where you can save on average 20% on your hotel and rental bookings compared to anywhere else. Read how to buy LOC tokens here!