July & August 2019 Project Update
Dear X-Network Community,
During this summer, and despite some well-deserved vacation, the team has been quite active and significant progress has been made.
Products & Technology
The X-Bank remains one of the primary features of our ecosystem by allowing easy management of XCASH for our users. During the lasts two months the team has been able to deliver some upgrades:
- iOS app (soon in App Store)
- X-Bank security and reliability improvements (networking improvements, internal authentication of services, applications access control, etc)
- X-Bank balance operation processing engine (in progress, will be used for payment gateways and X-Payment integration)
- 2FA process improvement (released soon)
Due to many feedbacks regarding the 2FA process, where users could activate it without having scanned the code in 2FA authenticator, we have performed some modifications to make it more user-friendly. The focus is now on improving the infrastructure in anticipation for the X-Payment onboarding (and some other features).
We would like to thank all users who participated in the X-Payment alpha, as well as the communities who accepted to help in this testing phase. We are now working on the Beta version which will include the following additional features:
- Community Management Fees
- Gaming Pool ( ← This one is really nice )
- OTC conversion
- Instantaneous Onboarding of Communities
The targetted release date for X-Payment 0.1 Beta is set for October 30th, 2019. We really think you will like it. On another note, the X-Payment website is coming!
To better aggregate and answer the growing number of support requests, we have worked on a dedicated support desk solution. This customer portal will be launched on Friday 13th September and we hope it will allow a more efficient treatment of the assistance needs.
As teased in the summer, we have worked extensively on the X-Cash documentation. We are currently finalizing the last details about it and it should be ready to be shipped before the end of the month.
In the context of the DPoPS & X-Payment Beta release, we are also adding step-by-step guides and additional resources. The goal of the documentation is to aggregate all X-Cash related information in a single place and facilitate the use of our products for all users, whether they are beginners or more experimented.
We have been working for the past months to prepare something for the B2B world. The goal is to fully leverage X-Cash Technology (Hybrid Transactions, DPoPS & Sidechains) to fill a need gap in the existing world.
Today, we are announcing that we have found the product that matches this philosophy by relying on X-Cash to offer:
- Hybrid public/private voting
- Fully decentralized voting through the use of the X-Cash delegates
- Scalable voting thanks to the sidechain technology (~200 votes/second)
We will publish a detailed article in the next weeks along with the full website release. Once the dPoPS is launched, Yes.Vote will become one the focus of the core team along with the sidechain implementation and the other pipeline of developments.
The last two months have been incredibly intensive in terms of DPoPS coding, with 158 commits made to the project.
We are approaching the final phase where many people have been able to already try some of the components of the DPoPS and we are still on track for the release of the Testnet on September 30th. Many members have already been able to provide extremely valuable feedbacks which have been implemented and we would like to thank you for that. At the current stage of development, we are confident the test phase should not require extensive time and we will quickly move on to the live switch. Dedicated documentation with step by step tutorials as well as an article will be published in the next days to allow anyone to grasp how the DPoPS will operate in practice.
As we will be launching the Testnet soon, we are counting on a maximum number of users to try it and give us feedback. As promised, a massive bounty program has been prepared specifically for the DPoPS, if you haven’t reached your targeted stake this is the time to get your hands on the system!
Finance & Markets
Market Capitalization performance
During the last two months, we have witnessed a significant increase in the market capitalization of the coin. This is done in a context of high anticipation for the staking mechanisms associated with the dPoPS and the release of more features in the network.
We believe there is a good chance this momentum will persist as we keep on delivering. We are convinced that focusing on technology remains the most important thing to do at this stage of the project and in the current crypto environment. Delivering new products and features will only lead to higher adoption and therefore increase in price. Although the price of the coin is not something we fully focus on, we are more than happy to see our early investors and adopters being rewarded.
Private token sale
From the inception of the project, we have highlighted the strong will to not perform an ICO as we believe seed level project deserves a seed level investment which we have committed to do on our own. Still, we had reserved 5% of the supply to perform a private sale when several conditions would be met:
- The need to finance the scale-up of our activities
- Once a track record is established
- Once a significant portion of the supply has been issued to avoid a potential dilution of the early investors
After more than a year of operation where we have significantly overperformed the market and delivered some of our milestones, we are getting closer to perform this sale.
We will release a communication in early October to announce the sale details that will happen later in the month, along with the DPoPS switch.
Events & Community
1 year of X-Cash in Paris
For our 1 year anniversary, we gathered at Le Perchoir in Paris. It was great to see you and particularly appreciated our ambassadors who traveled to Paris. This event was also the opportunity to announce the release of our new yellow paper about DPoPS. After one year of operation, we realized all the progress made and this is making us even more excited for the future.
During the summer, we have started to give hints on our social media about the contributor program. The fact is that the open-source component of X-Cash is becoming more and more prevalent as many members of the community are already assisting the core team on the development and community actions.
Thanks to your feedback, we realized that despite some of you were already contributing, many people wanted to join without knowing specifically how to. In addition to this, we have a very specific vision of how contribution should be valued in a cryptocurrency project. Since we have allocated funds from the start to the bounties & airdrop program, we believe that the funds should be shared with the community helping us build this project.
Therefore, we want to launch a program to onboard each contributor on a specific level and in the fairest manner. While basic contribution will be still made at the discretion of users, we will offer additional levels of contribution for the ones who are interested.
To give you the general guidelines, we have identified three levels which will lead to potential compensation:
- level 1: delivery based compensation
- level 2: monthly based compensation
- level 3: monthly based compensation and coin stake in the team pool
In addition to the above, each level will grant access to more resources within the team such as internal chat conversations, team calls … etc.
The ultimate goal is to have the best contributors joining the board of the X-Cash non-profit association and have them take part in the key decision related to the project.
If you are interested to join, stay tuned as there will be a full announcement in October. In the meantime, keep contributing or assisting us in all the ways and do not hesitate to reach out to a current team member to express your interest in participating.
The last two months have been quite intensive for the team. While the core of X-Cash remains the primary focus, with the release of dPoPS notably, we keep working on the ground components of the community products through X-Payment and X-Bank. This is done in parallel of our B2B solution targetting shareholders assembly meeting that we will launch in 2020.
We are witnessing more and more involvement from the community on Discord who want to be part of the project and assist the development.
We are still making a lot of reflection and work on the deep structuration of the project and the X-Cash non-profit association along with the contributor program will be the next stone to be added.
The pipeline of projects remains loaded with a lot of delivery to expect in the next two months. More than ever, we are committed to make this project a success and we would like to reiterate our gratefulness to all supporters and early adopters. Let’s keep building this together.
The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the article’s content as such. Nothing in this article should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisor before making any investment decision. X-Network will not be held responsible for the investment decisions you make based on the information provided in the article.