A great start of the year
In the past weeks, our team has been busy cleaning code, extending the API and scheduler, crushing bugs and revising the security features in our node to node protocol. We are very happy to welcome several talented new programmers to our team. Also joining us are marketing experts, to help us improve our online and offline presence.
Availability of the HYBRID tokens
The most frequent questions we receive these days are about where our crowdfund participants can see their tokens, or when they will receive and be able to use them.
In line with our milestones roadmap published on our website, the Internet of Coins beta wallet will be released in Q1 (end of March 2018). After release, the HYBRID tokens will be distributed on this wallet.
Then why are some XHY tokens already traded on exchanges? Right after the crowdfund in 2017 there was a limited window of time (until August 1st 2017) in which highly experienced crypto experts could send in a request to claim their tokens if they wanted to maintain them in 7 manually created wallets. Because of these experts, you can see some tokens are already being traded, for instance on EtherDelta.
The final release of the tokens for all our supporters (not just the crypto experts) will take place after Q1, in a safe way, when our IoC beta wallet has been released. By that time all participants will be contacted via the e-mail address that was used to participate in the crowdfund. Make sure you still have control of this email address! From that moment on all participants will be able to receive their tokens.
Mining HYBRID tokens
Another question we often get is whether it is possible to mine Internet of Coins tokens. The short answer is no. We don't have that option since we did not choose for a 'mining' release model. You can however participate actively in the network and serve as an allocation node, which will earn you fees for swapping cryptocurrencies for others. See our roadmap for an indication of when these features will become available.
Thank you for reading our newsletter, and for your interest in our project. A special thanks to all who participated in our crowdfund. You are receiving this e-mail because you have either signed up for the Internet of Coins e-mail updates, participated in the crowdfund or have previously been in touch with one of our team members. This newsletter will be sent out once every two weeks to keep our supporters updated about our developments.
How can we help you?
If you want to ask the team any questions, regarding the project or in general, please use one of these ways to do so:
If you haven't received a mailing from us earlier and are new to the project, you can read up on previously published articles on our blog, join the Bitcointalk forum thread, check out our project website or watch one of the presentations we have held at various conferences.
Ways to support
Thank you for taking the time to read our updates!
We'll be in touch again with our next newsletter around two weeks from now.
Amadeus, Antonio, Emil, George, Jelle, Joachim, Kirsten, Luca, Marco, Maria, Marjon, Pim, Robert, Rouke, Sander, Sergey and Steffen
The year has just started, and the Internet of Coins project has been nominated for a 2018 Internet Innovation Award by the Dutch chapter of the Internet Society. We are honored by their mention, and strive to continue to live up to the expectations. If you can read Dutch, you can find out more about the nomination and the other projects here.
KISS, KISS, KISS
We added some documentation and a startup script on our github to make it easier for tech savvy enthusiasts to get up and running with the hybridd node system. It automatically pulls in all direct runtime dependencies like nodejs and regenerates the views before starting. For other dependencies, we added some simple instructions that should allow our supporters to get started with less hassle. Keep in mind the software is still in alpha state, so do not store large amounts of value on it at the moment, until the stack matures.
Fundamental cryptography: 'all our bits are belong to us'
This week, members of our team have been busy further strengthening the cryptographical routines used to secure communications between hybridd node and its clients. We reviewed the latest insights to come out of the 34th Chaos Communications Congress in Leipzig, Germany recently and are in the process of reviewing the current scientific literature and best practices, to make sure 'all our bits are belong to us' (see http://ccc.wf/allyourbase) and that this will remain so in the foreseeable future. In other words, we are working hard to make sure your information remains safely encrypted and cannot be read by any eavesdroppers or third parties, since we are firmly commited to the privacy of our user base.
Put another star on it
The wallet now supports the option to favorite assets by giving them a 'star' in the Assets overview. Their current state will then show up on the main dashboard immediately after login. This will save you an extra click and makes the dashboard more user friendly :)
The last alpha released focused on enabling the use of the Ethereum XHY token. Testing showed there were no bugs, so now we have gone full steam ahead to implement asset management. Next to that we have added support for the NXT blockchain. Wallet users can now add any Ethereum or NXT token. We have had help from the community to add all the needed recipes to support these tokens. Please take care not to store large amounts of value at this time.
User interface freshness
Our UX/UI designer has improved the design and usability of the wallet. The interface is now more responsive, and numbers are represented in a way that is more palatable to the eyes. Small screen support has also been improved.
Command line power
With this newsletter we also proudly announce the first release of our command line wallet for Internet of Coins. This wallet is most interesting for technical people who like to work with the command line on Linux. It sports all the same functionality as the web UI. If you like the console, go and check it out! You can find it here: https://github.com/internetofcoins/cli4ioc
On our chat channels there was some confusion over a message that did not come from us, and instructed people to make a wallet. Be sure only to respond to instructions that come from Internet of Coins directly. As per our terms (https://internetofcoins.org/terms) we will release a public wallet to receive the tokens in the first quarter of 2018. See 'The release of the tokens' below for details. If you have any suspicions about emails claiming to be from Internet of Coins, or using the IoC name, please forward the contents to email@example.com so we can take appropriate measures. Internet of Coins is an independent initiative and has NOT instructed any other organisation to speak on our behalf.
Alpha wallet updated
Our ALPHA wallet (only for testing purposes) was updated and now integrates many improvements. We invite people to try it out and give us feedback per email about their experience. Please keep in mind this is experimental code, so please do not store large amounts of value until the testing phase has been completed. The alpha wallet can now be reached at https://wallet.coinstorm.net We'd love to hear some feedback on your experience with the wallet.
Tell me more, tell me more...
We now have a working implementation of deterministic Ethereum functions, so the ETH blockchain can be connected to our ecosystem. We have integrated the REST API into the command line wallet for testing purposes. Processes in the code have been segregated, or split up into separate streams, for more security. Account credentials are checked at login using a validation algorithm to prevent typing mistakes. Also our connectors to other RPC (remote procedure call) interfaces have been improved.
To enable more efficient development of deterministic crypto-functions we are developing a command-line client. This is also vital for those people who need to access blockchain technologies in places with extremely low bandwidth, as the communication between the command-line client and hybrid nodes is much less resource consuming than the web interface (which is already the most efficient in its class). Others in our team have been working on the transport mechanisms, so that both command-line and web clients can exchange information decentralised with nodes and these can share datagrams amongst themselves in a secure and tamper-proof manner, without having to depend on untrusted or centralised third parties, such as certification authorities.
A third party that had initially shown initiative to launch the hybrid tokens used within the Internet of Coins on a centralised exchange has stopped communicating with us. We assume for now that their technicians will need more time than they anticipated and hope they will contact us again when they make progress. On the bright side, we observe that the tokens of individual chains are becoming available on the decentralized exchanges. Of course, we will inform you when markets establish themselves. In the meantime, we focus on implementing the infrastructure and network support for decentralised multiple-token interchange.
New research grant secured
We have received word from the Dutch SIDN Fund that the Internet of Coins project has been awarded a grant of $70,000 (USD) for further development of our wallet with the decentralized exchange. The foundation stated:
“Internet or Coins creates a system where the exchange of cryptocurrency is democratised and open to everyone worldwide. This is in line with the objective of SIDN Fund to strengthen the Internet. An open and free Internet, which is accessible to all, trusted by the public and seen as a foundation on which to build.”
Over 500,000 HYBRIDs registered
This week, we were happy to see the fundraiser counter jump to 543,000 HYBRIDs registered. Most of the donations have been sent in Ethereum and Bitcoin, but we see the NEM, WAVES, NXT, Counterparty and Bitshares community participating as well. As we are entering the last week of the crowdfunding campaign, we thank all who already decided to be part of our journey.
Just two more days to go!
The fundraising period will close on the 21st of June, 10:00 CEST, the beginning of summer. Only two more days are left to register your donation. After that, development will start according to our roadmap (see our terms page for more details). We will keep you informed about procedures and the development of our infrastructure through our newsletters and on Twitter.
More transactions sent using IoC alpha wallet
As we mentioned in a previous newsletter, we have done our utmost to get a 'live' version of our wallet out there for testing by you, our supporters. Since the alpha is available we have seen the node push several transactions into the network. People are already trying it out, and thus far without any issues. The public alpha is available for testing at http://kth3qittpclsdrk6.onion so you will need to use TOR to access it. It supports just Bitcoin and Lisk for now, so we can test the basic functionality of the transaction mechanisms. Please do not store large amounts of value on this wallet yet, it is to be considered experimental until after more extensive testing and there may be bugs.
444K HYBRIDs registered
This week, we were happy to see the fundraiser counter jump to lucky number 444,000 HYBRIDs registered. Most of the donations have been sent in Ethereum and Bitcoin, but we see the NEM, WAVES, NXT, Counterparty and Bitshares community participating as well. As we are entering the last week of the crowdfunding campaign, we thank all who already decided to be part of our journey.
Just seven more days to go
The fundraising period will close on the 21st of june, the beginning of summer. Only seven more days to register for HYBRID initial tokens and get your donation settled. After that, development will start according to our roadmap (see our terms page for more details). We will keep you informed about procedures and the development of our infrastructure through our newsletters and on twitter.
First transaction sent using IoC alpha wallet
As we mentioned in a previous newsletter, we have done our utmost to get a 'live' version of our wallet out there for testing by you, our supporters. We are proud to announce that today at 11:40 the first transfer of value from an IoC wallet to an IoC wallet was made, an amount of 1 LSK. The public alpha is available for testing at http://kth3qittpclsdrk6.onion so you will need to use TOR to access it. It supports just Bitcoin and Lisk for now, so we can test the basic functionality of the transaction mechanisms. Please do not store large amounts of value on this wallet yet, it is to be considered experimental until after more extensive testing and there may be bugs. This is a milestone for Internet of Coins and 'proof of work', to release public alpha software ahead of time, before the fundraiser is even over!
Celebrate with us!
To celebrate the release of the alpha wallet and give a last boost to our fundraiser, we ask for your help. You can show your support for our project by tweeting or posting the following message on your twitter or facebook account:
IoC launches #alpha #wallet! Join the storm! #internetofcoins https://coinstorm.net