Swap.Online: Final Countdown to the Mainnet
The Swap.Online crypto OTC marketplace is to be launched on the mainnet for the first time in a couple of weeks. So, let us tell you a few words about our final preparations.
We have already informed you about the most important stages of our product development process. The synopsis of our early updates disclosed the list of exchange tools already released, and the remaining functions currently available.
Digital Security conducted the technical audit of the core of our service and we published the full text of the report and fixed all the discovered bugs. Our developers wrote the Swap.Online trading bot and taught it to place and withdraw different kinds of orders, as well as accept swap requests, start swaps, and refund failed ones. This progress allowed us to launch the testnet version of our marketplace with swaps in dummy coins. Our users are already able to place and accept orders. Follow our manual and try it out for yourself!
Our developers are particularly proud of the stability improvements introduced in the last few days. They prepared Swap.Online for working with the most anxious and impatient users. Now the swap will be finished successfully even in case the browser is closed or the computer unexpectedly reboots during the swap procedure. Should the user push the button starting the swap multiple times, our service will treat this input as an ordinary swap. You shall not execute three swaps instead of one by pushing the “Start” button three times. It is particularly important in areas with a poor internet connection. Internet blackouts are foreseen by our service.
“We have executed the stress-test of Swap.Online in a very stringent manner. It is not so easy now to lose your coins here. Even if you wished to”, says Alexey Bykhun, head of our R&D department.
A combination of solutions for critical errors has also been provided. Emergency swap backup procedures have been built in, as well as direct contact to the support chat in Telegram.
Safety first, that was our mantra from the very beginning. Thus, our team prepared the system of protection against intrusions and corruption of message interactions between swap participants (the familiar Alice and Bob personas). Now it is impossible to change the order of messages and mislead the swap participants.
The proprietary node for Swap.Online has also been launched (but not deployed yet). It results in our independence from the superior node in the Bitcoin network. Now Swap.Online will work regardless of whether the node provider (e.g. Bitpay) is online or offline. And last but not least, we have introduced a function that negates the possibility of one side of the exchange being cheated.
We have organized the hallway testing of the Swap.Online usability and found out that 50 percent of our office neighbors are able to execute BTC ⇔ ETH swaps in our testnet; we treat this fact as successful result. “We spent the last few days and nights searching for small bugs and fixing them. For example, we enable order placement with a big number of decimals. Also, for now, when the order is taken and the swap broadcast procedure is launched, it is not shown in the list of orders: you see only the orders you can take. Finally, we have worked hard on the issues of the deals history. It will be available for users via our explorer which is now under development”, added Nikita Dementiev, Swap.Online lead developer.
Now, we have only a few finishing touches left to add. Mostly, they are about usability logic. For example, it is the information aspect of the swap, as each party to a swap should know what is going on the other side etc. An immense amount of work is now behind us. The Swap.Online mainnet is right on schedule as we are entering the market in August 2018.
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