Welcome to the Conceal Developer updates for April 2020. Before we detail the work the team has been focused on over the last month, we wanted to rehash some of the major accomplishments that took place for all the new Conceal.Network community members.
- We conducted a live AMA on March 18th via Telegram with the community to review the survey response results we analyzed. A short overview is provided below in the Social Scene section.
- HASHR8, published an amazing article to highlight Conceal.Network as part of its on-going focus on privacy. HASHR8, is a community-driven crypto operating system that allows you to configure, monitor, and manage your crypto mining rigs. Miners, go check them out!
- We partnered with BitTorro.io, a well-known crypto to crypto, wallet to wallet, no-custody, swap exchange service. Go check them out!
- Conceal.Network formally welcomed @boot2thrill as a new team member with the Marketing & PR division on March 27th.
- A sneak peek was provided showing Conceal.Card testing being done. Additional materials, tools and electronics were purchased last month to move into a new phase of testing.
- Conceal Desktop wallet (v6.1.4) had several feature updates to add new functionality and new features. For more information on the Conceal Desktop Wallet (v6.1.4) version, click here. Look for future functional changes to the desktop wallet that will improve the user interface and experience.
Ongoing research our project team conducts will generally arise out of the need to advance Conceal.Network or any new features offered in the future. Careful study is done to gather proper research to examine and test these advancements. This framework helps to evaluate proposed changes and provides a logical path to expand and improve the project.
Below are ongoing research topics being examined for development and ongoing work to give the community an idea of the additional effort being done that is not always captured by the existing roadmap or as a commit to Github.
1) Conceal Sidechain
The general purpose of Conceal sidechain is to allow businesses, developers, firms and other crypto entrepreneurs to explore and research new applications within a resource-rich environment that has a complete privacy-focused feature set.
2) Confidential Asset Tokens
Tokens issued on Conceal Sidechain can represent fungible ownership of any real asset including vouchers, coupons, currencies, deposits, bonds, shares, etc. By default, these assets are covered by the Confidential Transactions feature, which hides both the amount and type of asset being transacted.
Tokenization is a method that converts rights to an asset into a digital token. Suppose there is a $200,000 apartment. Tokenization can transform this apartment into 200,000 tokens. Thus, each token represents a 0.0005% share of the underlying asset and can be freely bought and sold on different exchanges. When you buy one token, you actually buy 0.0005% of the ownership in the asset. Buy 100,000 tokens and you own 50% of the assets. Buy all 200,000 tokens and you are 100% owner of the asset. Obviously, you are not becoming a legal owner of the property. However, because Blockchain is a public ledger that is immutable, it ensures that once you buy tokens, nobody can “erase” your ownership even if it is not registered in a government-run registry. It should be clear now why Conceal will enable this type of services. Thus, we took an asset, tokenized it and created its digital representation that lives on Blockchain. Blockchain guarantees that the ownership information is immutable.
3) Confidential Transactions
All type of assets and amounts being transferred are cryptographically hidden from everyone except the sending and receiving parties. The transacting parties may choose to reveal the details for a transaction to a third party by sharing the “blinding key”, which grants visibility into the transaction, otherwise, it remains private between them.
Privacy matters, because insufficient financial privacy can have serious security and privacy implications for both commercial and personal transactions. Without adequate protection, thieves can focus their efforts on high-value targets, competitors can learn business details, and negotiating positions can be undermined.
4) Node Communication Over the Tor Network
Tor protocol is used by the nodes to ensure that all communications in the ecosystem don’t contain IP addresses which could lead to members of the network being subject to denial of service attacks, and to avoid disclosing their physical location.
We classify Conceal ($CCX) as having different functions of use. As a Medium of Exchange (MoE), a Store of Value (SoV) and a Unit of Account (UoA). These underlying economic principles guide the long-term development of our currency, $CCX.
From the start, our economic goal was to create a private, efficient, low volatility MoE with a solid SoV. This goal not only serves the main Conceal blockchain, but also guides the economic model design for the sidechain. Both chains need to work seamlessly together to create the most perfect, inflation resistant currency available in the market today.
To that end, we are in the process of evaluating and updating the existing economic model to enhance Conceal’s $CCX great SoV properties and also account for the future expanded use as a MoE with the sidechain. This sidechain design will have unlimited scalability and instantaneous payments that will rival Visa or any other distributed technology available today.
This initiative requires extensive research and testing, but also a well thought out methodology that relies on relative market analysis. Without getting too technical, factors such as measuring price stability, or changes in average price levels of goods and services, inflationary impacts, purchasing power parity, the existing emission curve (based on a dromedary curve), block rewards, and our future coin supply must all be factored into the economic design of our primary currency, $CCX and our future sidechain currency.
6) Newly Optimized Website
Consistent with our goal of making Conceal available to everyone, we have professionally optimized our homepage for industry web standards, accessibility compliance, improved performance and further increased security.
This new site may not look or feel entirely different, but now meets ADA and WCAG compliance, as well as W3C standards. The newly optimized site was written entirely by hand by our Senior Developer, Alex Stanford (aka HashOfZorro).
Code was completely rewritten from scratch to rely on far less external code, such as frameworks and libraries; not even jQuery or Bootstrap were left in place. The website was entirely rewritten with pure, optimized, vanilla JS & CSS without a single KB of bloat.
In March alone, 48 files were updated and 3,657 lines of new code written in the process of rewriting the website. This website rewrite provides us with a very solid foundation to work from going forward without incurring any technical debt as we further develop our website.
The new and improved website is not yet public, but will be coming soon to a browser near you!
Research and development is starting for the new Conceal.Messenger, a truly decentralized and distributed messenger with increased privacy, light infrastructure, high scalability, no bandwidth restriction (other than users’ internet connection limits), no size limit for file transfers, and more.
Conceal Deposits v3.0 — Integration
Research and design work continues on adding deposits to the service wallet (walletd). As part of this implementation, we are revamping our test environment to accommodate experimenting with the new functionality. This testing environment will help run simulations with adding deposits to the service wallet as part of our workflow.
As part of our commitment to the Conceal community, we wanted to conduct a community satisfaction survey to better understand where we can improve as a team. Overall, the sentiment on the project was very positive. Below are several charts and graphs that provide a visual response to each of the survey questions. For those that participated, thank you.
The Net Promoter Score (NPS) is a very important metric in many industries as it measures how users view the product. As you can see from the results, the perception of Conceal is very positive (71% percent of respondents would recommend Conceal to others).
Again, the majority of respondents are very satisfied to somewhat satisfied with Conceal. Clearly, the results are very positive and we continue to strive to make advancements in all areas of the project, do things correctly and listen to our community.
The positive sentiment here shows respondents viewing Conceal as being a trustworthy and a high-quality project.
Respondents view our product line as very useful and this shows that our products meet the needs of our users.
Again, the majority of respondents view Conceal as a high quality, reliable and undervalued project.
Being available to our community when issues or questions arise has always been very important to the project team. We value our customer service and always strive to quickly respond to any issues.
As a team, we would like to extend an invitation to your friends and family to join us at Conceal.Network. We strive to offer an interactive, positive, and professional community that values feedback and cultivates a place where new ideas can be shared to shape the future of Conceal.Network. We also foster a fantastic place to learn about mining crypto and have individuals ready to help answer your mining questions. Please join the Conceal Community.
Again, to those impacted by current world events, both economically and because of the Coronavirus pandemic, the Conceal ($CCX) team would like to encourage our community to take care of yourselves and your families and to stay secure and strong.
Until next time.