We started 2019 with a fresh outlook on traceto.io’s roadmap. Thanks to the various feedback received from partners, advisors and our community, we present a more microscopic view of the requirements.
In a series of updates, one highlight is that we analysed the requirements of the verifier network and re-architected it with a sidechain approach in order to reduce potential costs involved in running the network. Besides, we believe that this approach will benefit the project from a scalability perspective. We have moved our work to github from bitbucket and will be open sourcing additional code in the future.
Major Tech Milestones Reached in 2018
In 2018, we were able to push out an early version of our User DApp in alpha. We received several constructive comments and revamped it to launch the Lite Mainnet Version. The application itself consists of End Users, Clients (Requestors), Service Providers and most importantly, Verifiers. We created applications with multiple interfaces that all the users will interact with, be it running nodes or using the DApp.
- ICO completed
- Completed the Lite version of the Mainnet.
- IPFS Storage
- Shamir’s Secret Sharing Mechanism
- Angular User DApp
- Audited contracts for the release
- Requestor and Service Provider Nodes
- Verifier Node
- Token Distribution Airdrop and Bounty Contract Deployment
After the release of the above and the stabilisation of our team, there is a huge list of upcoming milestones for 2019.
Major Milestones Planned in 2019
traceto.io consists of various DApps, nodes and additional features that forms a decentralized network . Here are the list of applications that we will be releasing in 2019:
- Verifier DApp Sidechain — Alpha , Beta and Mainnet
- Transaction Monitoring — Version 1 & 2
- Verifier Education Game
- Verifier Network Buildup
The main focus in this year is to build up the verifier network. For this to work, we have a DApp that the verifiers can use to perform their KYC related labor and at the same time, earn T2T from it. They will need to stake X amount of T2T to join the network and then wait for a short period to join the verifier network. This is an automated process and is done to ensure that verifiers cannot randomly stake, join and leave but need to wait for a Y period of time before they can participate. On top of that, we will create and design a verifier education game, which is a module that will help educate the verifiers on different KYC case studies in an interactive way with a leaderboard and methods to earn more T2T.
Furthermore, we build on our current set of work by adding new features to the existing product. Some of the features are listed below.
- Requestor DApp — New UI and additional features
- User DApp — Mobile/Web Browser Support, additional features, and integrations
- A second set of Smart Contract Audit
- Penetration Tests
- Zero Knowledge — Encrypted Search
- Upgraded Storage Network
The upgraded storage network refers to the manner in which we store data. Currently, data is encrypted and stored in a single IPFS cluster. We are exploring techniques to change this mechanism in order to improve the security model by allowing the verifier groups to run their own clusters. Separately, the Zero Knowledge encrypted search feature is what we had envisioned in our whitepaper in 2018. It is basically a mechanism to try and ensure that the service providers eventually do not need to store your information at all and has the ability to validate and even authenticate profiles.
The community has voiced out that they would like to be kept updated on the product progress. We have taken this into consideration and will be updating all material progress going forward. To kickstart this process, we will provide a monthly update from February onwards.
Working alongside Cynopsis Solutions, our teams of developers, business development and marketing have grown over the last 6 months.
The core development team in Singapore has grown significantly, from a modest size of 3 developers to 7! In 2018, Cynopsis Solutions formed a shared technology team in Ho Chi Minh, Vietnam, comprising of 7 excellent developers focusing on front end development works. This allows traceto.io to concentrate on core technologies that it needs to research and develop whilst engaging with a reliable team of developers that Cynopsis Solutions manages in a cost effective manner.
We have also built out our Marketing team which now includes a Community Manager, Davor Zarda (@ZarZar84).
Davor is an IT specialist with 12 years of experience working in the banking industry. Recently his focus shifted towards blockchain technology, which he considers to be a potential turning point in the evolution of technology and something that will have an immense impact on our everyday lives. Prior to joining traceto.io, he’s been involved in a couple of blockchain projects, supporting them through all the phases of product and community development. We are happy to welcome him onboard into traceto.io where he will utilise his experience to help build a strong bond between the community and the team.
In addition, we are still in the process of hiring additional talents to bring out the best of our decentralized KYC platform to the community.
traceto.io is a decentralized Know Your Customer (KYC) network that provides an inclusive KYC solution to cryptocurrency and blockchain product companies by fusing Smart Contract and Artificial Intelligence technologies. Leveraging on over 5 decades of experience in Compliance and RegTech, traceto.io’s vision is to bridge the gap between the real and virtual world KYC processes.