Integration of RioDeFi within the Polkadot ecosystem continues
RioDeFi is pleased to announce the upgrading of its blockchain infrastructure RioChain to Substrate 3.0.
Parity Technologies has recently released the latest version of its blockchain framework Substrate. This is the third version of the software which is rapidly becoming the template of choice for blockchain developers as Polkadot and its philosophy of interoperable blockchain are quickly rising to prominence.
As with every new iteration since Substrate 1.0, RioChain will benefit from the latest version of the software so as to enable increased flexibility, efficiency gains and to further the integration of our technology and applications within the Polkadot ecosystem.
Of particular note in the code base released by Parity technologies is the pull request #8039 (https://github.com/paritytech/substrate/pull/8039/files) which extends the original wallet address ss58 format.
In the original design of RioChain, our team used a reserved number of ss58format
(244 for the mainnet and 221 for the testnet) so that our user addresses could start with the letter “R” on our mainnet and with a “P” on our testnet. The latest implementation of Substrate will lead to RioWallet adopting a different user address format. The user will see a new public address while conserving their existing private key. The original wallet address that starts with an R will be transitioned to the new address format. All assets will remain intact in all users’ wallets (with new address), and all RioWallet backup JSON files are still valid.
So as to facilitate the completed migration to Substrate 3.0 RioChain Generic Asset Bridge will be deactivated on Monday, February 22nd at 7pm Hong Kong time (UTC +8) and remain inactive for a few days until the upgrade is completed. If any cross-chain withdrawals are required during this time, please email firstname.lastname@example.org so that we can facilitate the transfer.
Please be aware that there is no particular security risk associated with this upgrade. The tools associated with RioChain such as the block explorer will remain functional throughout the upgrade.
RioDeFi accelerates the mass adoption of digital assets by bridging traditional and decentralized finance. Our vision is a world in which everyone has access to decentralized financial (DeFi) services.
We develop solutions that connect banking institutions with blockchain systems. Our applications enable lower transaction fees, faster confirmations, more efficiency, better returns for savings account holders, and global reach.
To learn more about the latest developments regarding RioChain, visit: Riodefi.com