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.
For January 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.
Of the accomplishments they’ve had in January there are three that stood out the most for the eWallet team:
- 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.
- 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.
- 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.
- Last eWallet Update — February 04, 2019: the “Is That Your Two Cents Worth, Worth?” edition:
- 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
- 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
- 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
- Add blockchain toggle settings #686
- Implement blockchain wallet schema #690
- Add Ethereum wallet generation #689
- 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:
- OmiseGO eWallet GitHub repository
- Initial public demonstration of the eWallet
- Waffle board
- Chat to the eWallet team
The new year started off strong with a new iteration of the internal testnet. The improvements were based on the data and feedback received from the initial iteration. OmiseGo goal is to create a production environment that is resilient and can handle real-world continuous usage.
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.
For more on Plasma, see these community-produced resources:
- Plasma Tesuji Github repository
- How OmiseGO will bring Plasma in everyone’s daily life by u/pwolf88
- An introduction to Plasma by Alexander Butler
- Binance Conference 19–22 January in Singapore: Jeremy Lam, OmiseGO product lead, spoke at the Binance conference as part of a panel that discussed “Security and Privacy: Building a SAFU Future”. The panel looked into the best industry practices when it came to security and privacy, as well as personal tips for individual safety, and how technology could be implemented to create a safer environment for stakeholders.
- 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.
- February 26th–27th 2019 — Mobile Money and Financial Inclusion, Yangon.
- OmiseGO AMA #13 — January 27, 2019.
- OmiseGO AMA #14 — February 3, 2019.
- OmiseGO AMA #15 — February 10, 2019.
State of the OMG Ecosystem. In this blog post, the team attempts to summarize the different elements of OmiseGO and the OMG ecosystem, captures key developments over the past months and provides some information on where they’re going . It might seem like a repeat of the Official Guide, but this is more succinct and offers updates. Additionally, they included an updated roadmap with key milestones. And they’ve been working with community members as well on the OMG project tracker to track progress on a smaller timescale.
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.
- OmiseGo funded Plasma Group — Reddit thread on why they do this.
See also Plasma Group blog and OmiseGo post on Twitter:
- OmiseGO is proud to support the WBTC that has just gone live on Ethereum.
- Solidity for Ethereum. Scripting for OMG. Some explanation with examples.
- Starkware industries blog says 51% attack is easy to do on L2 Plasma. Is it true?
- Current funds for development.
- Donny’s OmiseGo (OMG) Update — “Missed Deadlines” Death Threats: video.
- ELI5 Of Plasma Whitepaper by Thilagavathy.
Social media metrics
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.