Monthly Recap | March 2019

One more month has passed and many things have happened since.

As always, we want to communicate this progress with you in form of a monthly report and thus be as transparent as possible.

March was a very busy and active month, which is also reflected by the length of this recap. Let’s start with our marketplace first.

Marketplace

In March, we have launched the Alpha version of the much anticipated Flights section of our marketplace. From day one, it included more than 1,000 unique airlines — among them the biggest ones with the highest amount of destinations. Fiat payment was also enabled from the very beginning, offering our customers a complete experience from search to booking.

Since then, we have upgraded the flights module with powerful filtering options which makes it very easy to find what you are searching for. The filter applies dynamically without the need to execute another search.

We have also worked on the Hotels section. The cancellation policy has been improved and is now included in the confirmation Email after a successful booking. All Email templates have experienced a major overhaul, making them look more professional and providing more relevant information.

The booking flow for hotels has been improved and stabilized. In addition, first UX bugs have been fixed on the Flights section. Our marketplace team is now working heavily on bringing it on par with the Hotels section regarding stability and overall quality.

One of the most important updates was the execution of the final stage of architecture for compatibility with the new 300,000 Hotels inventory. This means that we can now proceed with the actual integration.

Mobile Apps

On the mobile apps front, we’ve made strong progress with the native search results and started the work on the UX improvements. Both will improve the overall experience considerably.

The native search results feature is already deployed on the developers version and is being polished as we speak. As soon as the polishing has been completed, we will deploy a major release on both Android and iOS.

In addition, we have fixed web socket issues and improved our iOS client.

Blockchain

In early March, we have successfully launched the LT Chain Testnet with a functional Explorer and a Faucet to claim test-LOC. Soon after, the testnet campaign was launched, which allowed us to validate a real time transaction capacity of more than 250 TPS at peak times from 100% user generated transactions. A big milestone.

Through the TPS competition, we stress-tested the network and gathered valuable insights on how peers behave in a POS high performance chain. In specific, we’ve analyzed the behavior of ISP (throttling and port limiting).

Our developers are also working on an upgrade for the blockchain explorer, which will allow it to handle higher network loads without crashing. Progress is steady and we expect to deploy the upgrade soon.

Throughout March, we have released 2 new version updates for the wallets, including fixes for bugs and improving wallet connectivity (based on the experience gathered during the testing campaign).

One central development regarding the blockchain was the completion of our functional test scripts. These are automated tests that make it easier for us to identify any system issues when new upgrades are made. We regard it as an important part for properly maintaining the blockchain in the future (e.g. when we upgrade the EVM).

We have also improved our telemetry system — a unique system that gives us access to testnet user information and supporting us in better diagnosing and monitoring network stability.

Additionally, we have already executed 4 DGP Votes on the blockchain regarding the LOC Burn Rate. Two of those ended with the “No” consensus and two had a “Yes” consensus. This resulted in a heavy deflationary mode where 40% of all transaction fees are being burnt on a protocol level.

Business Development

Regarding Business Development, we have deployed our blockchain website and switched to a 3-in-1 cross promotional concept. This allows people to easily explore different elements of our project without leaving the page. Initial data shows that visitors are now spending more time on our website compared to the period prior to deployment.

In March, we have also secured new hotel inventory. We will soon make an announcement regarding it — coupled with an updated price comparison analysis.

As Evedo is now holding their IEO, our relationship with them has become much stronger and we have supported their team in preparation to the IEO campaign. We are looking forward to welcome EVED tokens on the LT Chain soon!

In parallel, we are also in communication with the FFquest team about their IEO and have assisted them with know-how and consulting.

Thank you for your support!

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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!