OmiseGO: Plasma update and research articles, investment from Global Brain

Paradigm

Published in

Paradigm

8 min readOct 24, 2018

Biweekly update 9th October — 23rd October

Development

Plasma Implementers Call #15: 🔀 Atomic Swaps!: atomic swaps in both Plasma Debit and Plasma Cash; different implementation details and greifing opportunities; some fun discussions around watch towers. Plasma Debit implementation from Georgios/Loom. Multi Exits.

RSA Accumulators for Plasma Cash history reduction: Vitalik Buterin on Plasma.

Plasma Cash defragmentation, take 3: Vitalik Buterin on Plasma.

Towards more efficient Plasma Cash constructions: Georgios Konstantopoulos on Plasma.

Video — Georgios Konstantopoulos — Loom — Blockchain Game Summit — Plasma Cash, sidechains.

Video: The Future of Layer 2 — OmiseGo team at the recent SF Nervos meetup to talk about the Future of Layer 2.

Comparison of Plasma designs by Eva Beylin.

Reddit — omg-js allows applications to use the OMG Network.

eWallet Update October 15, 2018: the “Mr. Stark? I don’t feel so good…” edition:

Since the last update, the team has compiled the remaining issues to be resolved before the v1.1 Milestone. Once all these are done, they’ll release a new version of the eWallet. Here are some of the tasks they’ve checked off so far:

Fixed bugs in Create Transaction request form (#459), admin panel prefill address, (#471) and a bug where exchange pair tokens weren’t preloaded properly in consumptions (#497).
Fixed admin and user email verifications #466, #468, #473.
Implemented the basics for action tracking in the eWallet, including tracking for creation and update of users and invites. #457.
Fixed user endpoint pagination #456.
Docker setup guide improvements #452, #475.
More work on advanced filtering #440.
Started to implement a settings system #493.
Introduced overlays, simple modules containing metadata, and added advanced filtering to all list endpoints #486.
Improvements to the eWallet’s Docker setup instructions #475.
Bug fixes and minor improvements to the eWallet #478, #479, #480, #483.

The team have also continued work on sample apps:

iOS Point of Sale and SDK

Added key features in the merchant Point of Sale application including: app icon and launch screen (#22) receive funds (#12), top up (#13), “More” view and biometric authentication (#14), update account (#15), transaction history (#16), transaction requests instead of transactions to improve security by enabling user confirmations for certain interactions (#20).
Improved error handling in merchant Point of Sale application #18.
Started to add admin endpoints in iOS SDK #93 #94 #95 #96 #98 #100.
Added support for transaction request/consumption flow in the admin SDK #102.
Added support for swift 4.2 in the SDK and Point Of Sale applications #104, #36.
Added base files for the Point Of Sale application and started work on user flow, welcome and loading screens, and account selection #9 #10 #11.

Android Point of Sale Applications

Continued progress on the client application: profile page with fingerprint authentication (#10, #18), transaction list and button animator (#12), sign in (#2) and sign up (#4) flow; balance screen with pull-to-refresh and QR codes for the client application (#7), and some end-to-end testing (#14).
Added confirmation page before transfer in Merchant application #23.

Coming up:

Advanced matrix permission system in eWallet.
Complete tracking of who did what in the eWallet (Audit System).
Improve security on transactions between client and merchant Point Of Sale applications.

You can also follow progress on the eWallet Waffle board.

Social encounters

Vitalik Buterin, Joseph Poon and Karl Floersch at SF Blockchain Week (October 10, 2018): Vitalik Buterin (Creator, Ethereum), Joseph Poon (Handshake, Plasma, and Lightning Network), and Karl Floersch (Ethereum Foundation) sat down and talked about the CryptoEconomics Mental Model. The panel presentation took place at the Crypto Economics Security Conference (CESC) during San Francisco Blockchain Week on October 10, 2018:

San Francisco Blockchain Week (SBFW): 5–12 October 2018.

OmiseGO at BlokChainJam 2018 in Tokyo, 10 October 2018.

Upcoming Events:

Web3 Summit (Oct 22–24).
Status #CryptoLife Hackathon (Oct 26–28).
Devcon4 (October 30-November 2).

Finance

Token holders and the number of transactions dynamics (from Etherscan.io)

Reddit — OMGT Weekly Discussion <OCT. 12th — 22nd>

OMG is available for fixed rate swaps at great rates on ChangeNOW.io.

Roadmap

Fuseki (Delivered)

The Fuseki milestone was achieved in Q1 2018. Fuseki delivered the OmiseGO eWallet repositories, which included a server and mobile SDKs to onboard eWallet providers. Blockchain integration will be included in a later milestone.

Sente (In Progress)

The Sente milestone includes feedback from users of the closed beta and from Fuseki. Notable changes in the eWallet SDK from Fuseki to Sente includes:

A re-designed administrative dashboard
Transaction request flow (QR codes) to enable peer to peer payments between users

Honte (Spooned)

OmiseGO has stopped on the Honte milestone. The repository for Honte may be found here. The full design of the blockchain and decentralized exchange on Tendermint may be found here and here respectively.

Tesuji (In Progress)

When the Tesuji milestone is reached, we will deliver OmiseGO’s first implementation of Plasma. Whilst not decentralized, Tesuji Plasma does not compromise on security or performance. The design of Tesuji Plasma may be found here.

Proof of Authority run on OmiseGO servers.
Exit to Ethereum for final safety.
CLI to monitor the child chain.
Atomic swap support (note that orders are not firm)
Multiple currencies

Aji (On Deck)

Support fiat, debit/credit cards, top-up/cash-out, Omise Payment

Plugin support in the eWallet SDK for cash in/cash out

TBN (To Be Named DEX Phase 1)

The implementation of the decentralized exchange is split across two phases. The first DEX phase maintains a centralized service to provide an order matching services. However, the order matching service does not have custody of funds at any time.

Incentivize UTXO set reduction
Non-custodial on child chain order settlement
Initial integration of eWallet SDK with ERC20 token support

TBN (To be Named DEX Phase 2)

DEX phase 2 fully decentralizes the exchange by moving the order book and order matching processes into the Plasma chain.

Decentralized order matching
Initial integration of eWallet SDK with Plasma

TBN (To Be Named)

There are use cases where non-fungible tokens are useful, such as ticketing, unique in-game items.

Removal of confirmation messages in Tesuji Plasma

Conditional payments — Where payments are only made when a condition such as a date and time has passed, or when multiple signatures are present

Non-fungible tokens

TBN (To Be Named — Limited Proof of Stake)

This milestone will commence the phase-in of staking.

Validators and the operator share the responsibility of securing the Plasma chain

TBN (To Be Named — Proof of Stake)

Full proof of stake where the operator is no longer required

Shinte

The Shinte milestone includes enhancements to the decentralized exchange to mitigate unfair advantages that validators, the operator or other users may have over other users of the decentralized exchange.

Order blinding would allow users place an order whose details are not revealed until the order is live in the order book.

Provisions against validator/operator front-running
Order blinding

Tengen (Goal) The Tengen milestone is reached when the OMG Network:

Has a decentralized exchange
Uses Proof of Stake consensus
Is highly scalable through multiple child chains
Is able to interoperate with multiple different blockchains

Note that we plan to continue adding functionality and improving the OmiseGO network after we reach Tengen.

On the Horizon and Approaching

Although these items may be at the bottom of this roadmap, it does not mean that they are low priority. Items in the On the Horizon and Approaching section may be prioritized and moved into a named milestone.

Delegated exit initialization — Allows users who are unable to watch the Plasma chain all of the time to delegate responsibility to watch the Plasma and to exit on the user’s behalf.
Direct exchange between wallet providers for tokens that are not issued on the blockchain — This feature will enable functionality such as direct interchange of loyalty points between wallet providers.
Multiple root chains. ie different root chains for safety
Interchain communication — The ability for different child chains to communicate and transact.
Child chain independence of root chain — increase safety of the Plasma chain which would in turn reduce dependency on the availability of the root chain
Economic incentives for exit and challenges (add bonds)
Multiple child chains to a single root chain and nested chains
Bitcoin clearinghouse to enable trading on the decentralized exchange Bitcoin and Bitcoin-like cryptocurrencies
Mobile light client, mobile trading app

Medium Roadmap Update Blog Post.

Partnerships and team members

Thai ICO unicorn Omise raises funding in Global Brain-led round: Omise has received investment from Japanese VC firm Global Brain with participation of 31VENTURES and SMDV.

OmiseGo is one of Devcon IV Premier Sponsors.

Rumors

According to the official twitter of OmiseGo, it has took down team page from its website. This was done due to staff safety and security concerns. It will be back up when the time is right and with new faces:

Twitter — OmiseGO‏ — @omise_go: “Hi folks! You might have noticed that our team page was taken down from the website. This was done due to staff safety & security concerns. It will of course be back up when the time is right & with new faces :) All comms channels remain open. Hope to connect with you there!”

OmiseGO staff disappear from website: Full article about staff disappearing from OmiseGO website.

Reddit — OmiseGO added to Weiss Ratings.

Hydro Blocktoberfest: Plasma Integration For dApp Store & Tide!: Likely confirmed partner for Omisego.

OmiseGo News: Team Close To Completing Plasma Integration on Investinblockchain.com.

OmiseGo (OMG) Summary: It is very quiet around the project but that could be a blessing in disguise.

Social media activity

Twitter — average number of retweets is 35–75 for one post.

Facebook — 60–90 likes per publication, 5–10 shares.

Reddit — the longest threads has 100–250 comments (Daily discussions).

Bitcointalk.org — since July 15, 2017. 1531 posts. Last publication — October 21, 2018.

Chat.omisego.network channels: Announcements; Jobs; OmiseGO — Trading channel for speculation and trading; Random; Rules; Staking; Trading; Wallets; Japanese日本語.