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OmiseGO: 2018 in review, Plasma and eWallet updates, Chart comparing different plasma designs

Monthly update 18th December — 15th January

Development

GitHub metrics

Technical Update

The team made a big step forward at the tail end of December with the release of version 1.1.0-pre.0. This is a pre-release, meaning a candidate for release which will undergo thorough testing and some final tweaks before going on to become the version 1.1 stable release.

Completed

  • Settings migration from environment variables to the database #578
  • Report internal server errors to Sentry #585
  • Fix Random DBConnection.ConnectionError #584
  • Optional application monitoring with AppSignal #586, #608
  • Stricter Redirect URL prefixes validation (thanks @jpopxfile for reporting the issue) #597
  • Complete the full activity log system which logs all changes to data #560
  • Add endpoints to retrieve activity logs #606
  • CSV export for transactions #605
  • Switched to Distllery in releases #312

In review

These tasks have been completed, pending review by wallet team admins:

  • Increase test coverage for ActivityLogger #618

In progress

These are the tasks the team is focusing on right now:

  • Show activity logs in admin panel #617
  • Add exporting CSV feature to admin panel #613
  • Increase test coverage #611, #612, #614, #615

Coming up:

The team wll be working on the remaining improvements and additions as well as lots of testing in order to take v1.1 from release candidate to production, they’ll be meeting in the coming weeks to nail down their approach to the next version once v1.1 is out.

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

-eWallet Suite More Resources:

Plasma

Production

The team kicked off the new year with a brand new internal testnet, with improvements based on feedback and observations from the initial iteration. This testnet is fully monitored and continuously deployed, making it much quicker for them to test and validate new releases. The new testnet is instrumented with telemetry (essentially, recording and transmission of performance data), logging, and exception reporting. They’re actively testing the new environment, the deployment tooling, and the most recent changes to elixir-omg. They’re changing their environment plans slightly and will be cloning this environment for partner testing.

For More Viable Plasma implementation, they’ve been integrating the in-flight exit support from the root contracts into the child chain and watcher. They’ve also implemented the new API format, which is consistent across the child chain, watcher, and eWallet so that it’s cleaner and more developer-friendly. The team now has a consistent API format across the child chain, watcher, and eWallet. They’ll be updating their JS library to support MoreVP and the new API next. They’re finishing up the last pieces for initial first implementation of More Viable Plasma. Once done, they’ll be entering a phase of heavy testing and documentation.

Research

With the Constantinople upgrade coming to Ethereum later this week, the team is considering how they might leverage the Constantinople EIP’s (Ethereum Improvement Proposals) to improve the OMG Network. They’re exploring a number of possibilities, including:

  • Using EIP 1052: Smart Contract Verification Speed & Energy to efficiently check the contents of any contracts that root chain smart contract is interacting with.
  • Taking advantage of EIP 1014: CREATE2 Scalability when exiting more complex state.
  • Lastly, the OMG Network relies on periodically committing block roots to Ethereum. The team is looking into whether they can optimize how they’re currently storing block roots using SSTORE’s new gas pricing.

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

Source: Learnplasma.org.

Social encounters

  • Community Update — December 2018.
  • Binance Conference 19–22 January in Singapore: OmiseGO is going to the Binance Fair in Singapore to talk industry trends in security and privacy to build a Safe Asset Fund for Users (SAFU) in the blockchain ecosystem.
  • 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.

Reddit:

Telegram:

On 14th January 2019 — Omisego is sharing their ethereum address in an effort to promote transparency: “In an effort towards greater transparency with our community, we are sharing OmiseGO’s Ethereum address in WBTC as a Merchant & DAO member: 0x2761bf0061785ef7e286f68aa4c10518fdea7481”.

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

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.

Major Milestone Progression. Source: OmiseGo blog.

2018 in review:

January 2018

The first Plasma minimum viable product technical specification is announced and the Proof-of-Concept (PoC) is created and iterated upon.

February 2018

eWallet Suite repo is made public! Read here.

March 2018

OmiseGO announces a donation of $1m USD equivalent in OMG to GiveDirectly, an organization that provides aid to populations living in extreme poverty in the form of direct cash transfers to individuals — and with it their intention to explore the possibilities of using crypto to support these and other efforts to help the poor.

Plasma Cash, a Plasma construction is proposed as a scalability option that turns fungible assets into unique “coins” on the root chain. This increases security and usability but adds a new challenge as well: it requires each coin’s entire history to be tracked, which involves storing and transmitting a tremendous amount of data. Reducing history size to make increase the viability of Plasma Cash is a subject of ongoing research.

April 2018

The eWallet Suite (SDK) is publicly released (Sente on the roadmap).

OmiseGO announces MoU with Shinhan Card to further advance Shinhan Card’s digital offerings across its portfolio of payment services and mobile application in today’s growing mobile payments market.

May 2018

OmiseGO creates a PoC to explore the details of how the improvements of Plasma (Cash) can be incorporated into the OMG protocol.

June 2018

Neutrino, the blockchain co-working and community space, an initiative of OmiseGO, launches in Japan and Singapore.

July 2018

eWallet SDK comes out of beta with the 1.0.0-pre0 release.

OmiseGO and Status announce technical partnership. Status plans to leverage the OMG DEX by integrating the OMG Software Development Kit (SDK) into their native wallet, allowing us to test out early implementations of the SDK and DEX on a powerful decentralized platform. Read more about the collaboration here.

August 2018

The OMG Network repo becomes public, including instructions for anyone who would like to download the child chain server and watcher (software which monitors the behavior of the Plasma chain and root chain). Read more here.

September 2018

OmiseGO shares their DEX design and approach with the public.

October 2018

Omise Holdings announces that it has raised an undisclosed amount of funding from Japan’s largest private venture capital firm, Global Brain, with participation from 31 VENTURES, CVC arm of Mitsui Fudosan and returning Indonesian venture capital, SMDV. Funding is allocated to OmiseGO as well.

Quantstamp completes audit of OmiseGO’s MVP implementation.

November 2018

Devcon4, the biggest Ethereum gathering of the year takes place in Prague with around 3,000 attendees — representatives of hundreds of projects as well as many thought leaders and independent developers. This year’s conference was particularly energizing and productive; the community was more enthusiastic and hopeful than ever.

OmiseGO’s internal testnet is announced to the public and tested for the first time via Hoard Exchange’s Plasma Dog game at Devcon 4. The game is built on Tesuji Plasma (a milestone), which is the first release of the OMG Network and the first implementation of plasma by OmiseGO. Tesuji Plasma’s design is based on Minimal Viable Plasma (MVP).

Read more about Hoard’s experience working with the testnet here.

OmiseGO announces partnership with MVLchain, the mobility blockchain protocol behind TADA, Singapore’s first blockchain ride-hailing service. The partnership is to develop a POC to verify the suitability and performance of the OMG Network for TADA’s data record-keeping system.

December 2018

Minimal Viable Plasma testnet is being redeployed following a rebuild. Once all the feature development is completed for MoreVP, the testnet will be upgraded to MoreVP. This is the version that, once OmiseGO is satisfied with it, goes on to become the public testnet. On Plasma, read more here and here, and follow the team as they advance towards external testnet.

eWallet version 1.1 is right around the corner. Version 1.1 contains key features needed to begin integrating the eWallet with Ethereum and later plasma, as well as added functionality and user experience improvements. Keep an eye on the eWallet waffle board or the eWallet v1.1 tracker.

Partnerships and team members

OmiseGo is hiring.

Rumors

  • Reddit:

Remind me January 1st, 2019.

Plasma Implementers Call hasn’t been updated for a while.

I think 2019 will be a big year for OMG.

Vitalik Buterin on OMG — Sept 18.

EpicGames(Fortnite, Unreal, etc.) is huge and OmiseGO should consider them for adoption.

  • Other:

A short history of Plasma framework, what it is, where it’s going… by Ross Campbell.

Introducing Ignis: Fire Plasma: SNARK-driven Plasma with up to 500 tx/sec goes live on testnet by Alex Vlasov, Alex Gluchowski.

OmiseGo (OMG) Aims to ‘Enable Financial Inclusion’ via Interoperable, Open-Source Blockchain Networks: Crypto Globe article on OmiseGO.

OmiseGO (OMG) Review: A Blockchain, an Exchange and a Decentralized Bank on Chainbits.com.

Early 2019 Crypto Predictions: VeChain, Omisego, Buggyra Coin Zero Have Maximum Potentials on Todaysgazette.com.

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).

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 — December 18, 2018.

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). 30th November — 370 followers.

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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