This is our first bi-weekly update, where we’ll recap our current goals and the progress we’re making towards them.
At Magmo, we’re working to enable networks of state channels. Our current approach focuses on the Nitro protocol, our protocol for virtual channels.
Nitro protocol allows ForceMove channels to be routed through intermediaries — like Raiden/Lightning/Connext but for state channels instead of payment channels. This massively reduces the amount of collateral required to support a state channel network, as participants now require one on-chain deposit per network and not one on-chain deposit per channel. It also improves the speed and efficiency of the network, as state channels can be opened and closed without any on-chain transactions.
Current Goals
We set goals twice a quarter. Our current goals, which are due on the 15th February, are:
- Publish the Nitro protocol paper
- Finish the Nitro protocol smart contracts.
- Release our ForceMove browser wallet.
- Release a second ForceMove state channel application (tic-tac-toe).
The goal date coincides with the start of EthDenver, which we’ll be attending at a team. Come and find us at the event if you want to find out more about what we’ve built!
Progress
Nitro paper: a draft version of the paper has been shared with collaborators, for external feedback. We will continue to make updates and improvements over the next few weeks. Status: on-track.
Nitro contracts: this week Andrew put the finishing touches to the Nitro contracts and has moved on to coding the consensus game. Status: on-track
Browser wallet: this week we’ve completed the extraction of our refactored state channel wallet from our Rock-Paper-Scissors demo, and deployed it so it can be easily included as an iframe into projects. Status: on-track.
Tic-tac-toe: the tic-tac-toe game is mostly done and we’re now working to integrate it with the new iframe wallet. Status: on-track.
Please check back in two weeks for our next update!
