OmiseGO: Technical Updates, ShinhanCard Proof-of-concept demo, OmiseGO founded Plasma Group, Dennis Keller as OmiseGo VP Commercial, more social encounters

Paradigm
Paradigm
Feb 6 · 11 min read

Biweekly update 23rd January — 6th February

This is not financial advice.

During the last two weeks, OmiseGo made progress with development. The team focused on the release process of eWallet 1.1. This entailed continuous testing, several bug fixes, and the thinking up and applying of last-minute features to add. The second half of January was focused on our More Viable Plasma (MoreVP) implementation. With focus on MoreVP the team is looking to ensure user funds (in ERC20) are safe. In line with that, they’ve been integrating the in-flight exit support from the root contracts into the child chain and watcher. The MoreVP has all the production support services that they set up with new internal testnet. This means is that the team can continue to test and validate data and create solutions and new iterations faster. Along with heavy security testing, they’ve also created an API format, which is consistent across the child chain, watcher, and eWallet so that it’s cleaner and more developer-friendly. After months of collaboration with OmiseGO, the Korean Finance conglomerate demonstrates a cross-border PoC with the aim to expand the acceptance of ShinhanCard’s loyalty program to international markets and enable borderless interoperability. As for social encounters Jeremy Lam, OmiseGO product lead, spoke at the Binance conference at the end of the month and David, of Plasma research team, was on HoubiTalk with other opinion leaders talking about the future of Ethereum. Also there were several Reddit AMA. Dennis Keller is now the Vice President of Commercial and Business Development at OmiseGo. And the last, but not the least — despite the fact of growth in other social media, there is a slight decrease in the number of subscribers of OmiseGo Twitter and unofficial Telegram channel these weeks.

Development

GitHub metrics

Technical Update

Of the accomplishments they’ve had in January there are three that stood out the most for the eWallet team:

  1. First, it would have to be the finalization of the ‘Activity Log System’. This is an important feature that allows the users of the eWallet to know the exact details of all activities done. Users will be able to see who did what and when they did it. A good feature for accountability and an added measure of security.
  2. Second, they’ve developed a better build process, which includes running the E2E tests. This is a great addition for developers as this provides a better and faster feedback loop. Working with this type of feedback loop will allow the team to spot problems and fix them, ensuring less bugs are deployed into the staging system.
  3. And last but not the least, the team has the CSV exports for transactions. While they may have not added any major features in January, the CSV export would have to be the closest one to it. This feature, which was initially required by one of our eWallet-using enterprise customers, provides the ability to export transactions for accounting purposes. Users can export any or all transactions that have been made.

To get all the details on OmiseGo work in January check out eWallet Updates #15 and #16.

  • Last eWallet Update — February 04, 2019: the “Is That Your Two Cents Worth, Worth?” edition:

Completed

Improvements:

  • Prepare release commands for v1.1 #733
  • Pin end-to-end tests to v1.1 #749
  • Merge authentications in one test for all admin api controller tests #722
  • Remove sub-application dependencies from the `ewallet` sub-application #747
  • Add a reset frequency configuration to the local ledger cached balances #738
  • Release version `1.1.0` of the iOS SDK
  • Improve readme for admin panel #687
  • Planning and finalization of the scope and tasks for the 1.2 cycle

Bug fixes:

  • Fix various `/*.get` endpoints returning error 500 when not provided with `id` #773
  • Fix incorrect association loading when records are filtered #681
  • Fix setup script downloading saving to the wrong file name #745
  • Fix assets path in build steps #763
  • Fix Docker port expose in new Docker image #759
  • Fix typo in AWS config #768
  • Fix timezone format for the whole admin panel #762

In review

Improvements

  • Upgrade to Elixir 1.8 and Ecto 3.0 #771
  • Upgrade eWallet builder docker image to Elixir 1.8 #1

In progress

  • Fix balance caching frequency not migrated with the config migration command #767
  • Update the Point Of Sale demo iOS app to the latest SDK version #44 and #28
  • Permissions cleanup and improvements #730
  • Update admin panel to be account based #570

To do

  • Add blockchain toggle settings #686
  • Implement blockchain wallet schema #690
  • Add Ethereum wallet generation #689

You can also follow the progress on the eWallet Waffle board and in GitHub Milestones page.

  • New OmiseGO eWallet Suite Demo: In the video Thibault, the integration lead engineer at OmiseGO, walks us through the various features of the eWallet suite, and show us how the eWallet and its features may be used in the real world.

-eWallet Suite More Resources:

Plasma

To ensure that the team is prepared to open up to the real world -with multiple users, interactions, and connections, they’ve set up means to better study and view the chain, and develop iterations of it faster. The internal testnet is now fully monitored and instrumented with telemetry, logging, and exception reporting -allowing for faster feedback mechanisms and fixes. While the team believes to have created a stronger environment now, they continue to actively test the new environment to build towards further resiliency.

The second half of January was focused on our More Viable Plasma (MoreVP) implementation. With focus on MoreVP the team is looking to ensure user funds (in ERC20) are safe. In line with that, they’ve been integrating the in-flight exit support from the root contracts into the child chain and watcher.

The MoreVP has all the production support services that they set up with new internal testnet. This means is that the team can continue to test and validate data and create solutions and new iterations faster. Along with heavy security testing, they’ve also created an API format, which is consistent across the child chain, watcher, and eWallet so that it’s cleaner and more developer-friendly.

To get more details on OmiseGo work in January check out Plasma Update #11and #12.

For more on Plasma, see these community-produced resources:

Social encounters

Product lead Jeremy Lam talked trends in security and privacy at the Binance Blockchain Week. Source: @EventBinance.
  • OmiseGO Video Paper: Jun and Vitalik exclusive interview: video.
  • Last week David, of Plasma research team, was on HoubiTalk with other opinion leaders talking about the future of Ethereum. If you missed out on the livestream you can still get up to speed via Youtube.
  • The Future of ETH Livestream & AMA: Ross Zhang (Huobi), Raul Jordan (Prysmatic Labs), Afri Schoedon & Wei Tang (Parity Tech), Qijun Wang (Ethereum Community Fund) & David Knott (OmiseGO & Bitfish) — 15 Jan, 5PM GMT+8.

Upcoming events:

Reddit:

See also OMG Community Tracker and OMG Knowledge Base.

Finance

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

For more information on the Decentralized Exchange (DEX):

Roadmap

Major Milestone Progression. Source: OmiseGo blog.

Partnerships and team members

As a product of the MoU signed in April last year with OmiseGO, Shinhancard demonstrates a cross-border PoC with the aim to expand the acceptance of ShinhanCard’s loyalty program to international markets & enable borderless interoperability.

In April of 2018 ShinhanCard signed an MoU with OmiseGO to explore opportunities in fintech and blockchain initiatives. Since then, OmiseGO has been collaborating closely with the company to exchange learnings and increase capacity to adopt blockchain technologies.
In January of 2019, that MoU has resulted in a use case that demonstrates a cross-border Proof-of-Concept (PoC) aimed at expanding the ShinhanCard loyalty program internationally and enable borderless interoperability.

Shinhan Financial Group is one of the largest banking groups in South Korea in both assets and profit. The ShinhanCard reward point can be used in almost any online and offline merchant in South Korea, and if the card holders of ShinhanCard purchase products in the company’s payment app, called ShinhanPay FAN (Finance and Network), users can receive extra benefits from partner companies of ShinhanCard.

In this scenario, FAN points are minted on the blockchain through a smart contract on the Ethereum network, deposited into a Plasma blockchain, and transacted on the Plasma blockchain from the merchant (ShinhanCard) to a user.

For this demonstration to test and showcase their PoC, Shinhancard engineers use OmiseGO’s web interface for enterprise developers, which allow basic interactions with the OMG network. The interface mimics the functions of an eWallet suite and allows a developer to grasp the concept of plasma, and make direct, fast transactions.

For the purposes of the demonstration, the interface does not include the watcher or exit functions of a plasma blockchain. The eWallet iteration with the watcher and exit functions are relatively new additions which you can learn more about HERE.

Should ShinhanCard choose to adopt the OMG Network with merchant acceptance, users would have the ability to interchange local loyalty points with other merchants and customers on the network across borders and eventually exchange between any digital asset, as per the design of the OMG Network.

This PoC was helpful in allowing the ShinihanCard team to really understand what they could potentially do with plasma and blockchain itself. With that OmiseGO and ShinhanCard look forward to furthering research, learnings, and development together.

Prior to joining OmiseGO, Dennis Keller worked in the globally leading telecommunications company Telenor, across Asia, Eastern Europe, and Scandinavia. As the Director and Head of Commercial he was driving the understanding and value of digital services and products. This meant being at the forefront of the future of mobile services, shaping existing and new opportunities.

He’s a former telco investment strategist in emerging markets globally and worked in advisory for the largest single investor in Eastern Europe and Central Asia. Aside from this Dennis has been extensively involved in the startup world, as investor and (co-)founder of several startups, most recently a luxury fashion outlet in Indonesia. He has been an active advisor, both for startups and for NGOs and international organizations such as UNDP and OECD.

Here at OmiseGO Dennis Keller is now the Vice President of Commercial and Business Development. His role is to lead partnerships and commercialization for the company. This includes analyzing trends and market needs to build strong business development and commercial strategies, conducting deep-dives to identify, analyze, qualify, and provide justifications for new markets OmiseGO would enter, while developing and guiding new business opportunities.

See also Plasma Group blog and OmiseGo post on Twitter:

Source: @omise_go.
  • OmiseGO is proud to support the WBTC that has just gone live on Ethereum.
Source: @omise_go.

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

OmiseGo Telegram Announcements channel — since June 19, 2018. Members: 123 (4th December 2018); 129 (18th December 2018); 156 (15th January 2019); 171 (15th January 2019); 191 (5th February 2019).

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

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

Reddit — Daily discussions have 100–250 comments.

Bitcointalk.org — since July 15th, 2017. Discussions on latest updates, price. Last publication — February 2nd, 2019.

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

New official China community channel on WeChat (ID: omisego_china).

The graph above shows the dynamics of changes in the number of OmiseGo Reddit subscribers and Twitter likes. The information is taken from Coingecko.com.


This is not financial advice.

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Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

Paradigm

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In chaos lies the truth

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

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