This month in Conceal (August 2020)
Welcome to the Conceal Developer updates for August 2020. Those of you that have been active community members, we thank you for your support and appreciate the investment of your time and resources to the betterment of Conceal Network. For those of you that are new to Conceal Network, we would like to welcome you to the project.
Before we detail the work the team has been focused on over the last month, we wanted to recap a few major announcements that took place in August. Onward!
Conceal-DEX is a decentralized ERC20 trading platform option built with McafeeDex tools.
It provides a private, decentralized and low fee option to trade $wCCX. Conceal-DEX offers easy onboarding for new users, NO KYC, the ability to swap $wCCX, link a personal wallet and includes an integrated fiat-onramp for $USDT and $DAI. Conceal-DEX further expands the Conceal.Network ecosystem.
Integration of $wCCX on TrustWalletAPP
$wCCX was officially listed on the TrustWalletApp which allows users to buy, store, view prices, exchange & earn crypto securely and privately. To download the TrustWalletApp or learn more about it, click here.
New output selection
One of the more useful changes in this release is a change in the output selection algorithm when sending funds. Previously, whenever a wallet would construct a transaction, it would randomly select outputs until the desired amount was achieved.
With the new system, which is based on a method used by TurtleCoin, the wallet first randomizes all outputs, separates the outputs into base10 buckets, and then picks one output from each bucket until we achieve the amount of funds needed. This reduces the need for optimizing the wallet, when there are enough of the correct outputs to send your funds.
We now have support for two additional architectures, namely ARM and ARM64. This expansion allows the ability to compile and/or run Conceal Daemon on RPi 3/4 on Raspberry Pi OS.
We added support for the LWMA1 difficulty algorithm, which is slightly different from the current LWMA3, both by Zawy. Support is being added in the event a network upgrade is agreed upon. Everything is in place and all we need is to plan a timeline to implement.
The biggest change we have this release is the ability to maximize the window. Now regardless of your resolution, the wallet will be fully maximized and will take advantage of the extra screen space. In future releases, we plan on adding additional widgets.
Multiple local currency support
You can now choose from around 30 different currencies for the local currency display. The currency adjusts once a specific currency is selected from the dropdown in Settings.
Improved password prompt
The password prompt for opening a wallet has a new and improved look and feel. You will notice the look includes a current version of the wallet, instructions, and has buttons to open the Conceal Wiki site. You will also be able to exit the wallet from that screen.
Seed confirmation screen
Another often requested feature we added this time around is the seed confirmation screen. Now, when a user creates a new wallet, they will be required to enter the seed in a confirmation box to ensure that the seed is properly copied. This ensures that the user does not forget to copy the seed and helps to verify the user has the ability to securely access their wallet in the event of a hardware failure.
Wrapped Conceal ($wCCX) is simply an ERC20 token that represents the real Conceal coin $CCX on the Ethereum ecosystem. Having an ERC20 token representation allows Conceal Network to integrate into the Ethereum ecosystem, which includes wallets, dapps, and smart contracts.
On the Ethereum ecosystem, Wrapped Conceal ($wCCX) allows the use of a variety of financial instruments already available in DeFi, like decentralized trading on Uniswap and other DEX’es. It allows $wCCX users to create leveraged stable coin trades as a yield aggregator for lending platforms that re-balance for the highest yield during contract interaction (supported stable coins include, $DAI $USDC $USDT $TUSD). In addition, $wCCX allows users to offer Liquidity Pools (know as LPs) to earn additional interest on their yield-bearing tokens, where traders can even create leveraged positions.
The majority of Ethereum DeFi project tokens are created through a smart contract and only provide an incentive for Ethereum miners to participate (because you swap your PoW earned $ETH for any DeFi project token). The introduction of $wCCX allows Conceal Network miners to also have the same ability, to use their PoW earned $CCX to open the door to an array of DeFi tools offered from the Ethereum ecosystem.
The highlight of $wCCX is the ability to provide an untraceable gateway to and from the Ethereum ecosystem from the Conceal Network ecosystem. Conceal will be the first Cryptonote coin to build a bridge to the Ethereum network. Holders of $wCCX will be able to move from traceable $ETH to untraceable $CCX.
Below is a sneak peek of the process and design of the Conceal Network swapping tool (our gateway to and from the Ethereum ecosystem).
In this example, we will swap 3 $CCX to 3 $wCCX.
Once the Amount to Swap (CCX -> wCCX) and your personal Ethereum address are entered, you link your Metamask wallet to pay for the Ethereum gas fees associated with the transaction.
Once the gas fees have been paid you execute the transaction and wait for confirmation.
The next step in the process is to send $CCX from your personal Conceal wallet to the swap address.
Once verified, you send the $CCX to the swap address.
Documentation is provided verifying that the swap has successfully completed.
That’s it. Simple and secure. Swapping from $wCCX back to $CCX is accomplished the same way. Testing is progressing nicely and we plan to release the swapping tool later this month.
Currently, the supply of $wCCX is 250k, which equals the amount of $CCX deposited in the swapping wallet. To verify, go to the ₡CCX swapping wallet and click Verify.
The maximum supply of $wCCX will never exceed the maximum supply of the original Conceal Network emission, 200M. Below are important links for $wCCX:
“Clive” development and testing continue with work being done for Windows and Android integration. Conceal-Live will be available Q4–2020. Conceal-Live is the next-level way to privately communicate with family and friends or to have a secure business meeting without the fear of having it recorded or hacked.
The next notable milestone for Conceal-Live is to release a beta-testing version to a select few community members.
Reminder: Consensus 2020
Remember! Conceal.Network Community Consensus 2020 is scheduled for Sunday, September 13th until Sunday, September 27th.
What is Consensus? Each year, the Conceal Team and our Community discuss the future of Conceal.Network in the #Consensus section of our Discord. Different topics are discussed to help focus our aims, goals and development over the next year. Everyone willing to contribute positively is welcome.
The best ideas proposed during Consensus are then voted on by the Community, after being carefully evaluated by the Conceal Team, then added to the Roadmap. Consensus determines the next steps in terms of Conceal.Network development and the overall direction of the project for the next year.
Those who want to participate can do so by posting their ideas or suggestions in the #Consensus section of our Discord. If you haven’t already done so, please visit our Discord server and feel free to contribute to the process.
In The Media
A longtime Conceal community member and head of Marketing, Okanist (aka Okan), produced a fantastic marketing video promoting some of Conceal.Networks best features. The video already has over 1,800 views! If you have not seen it, check it out here: Video Link!
Conceal conducted an AMA, hosted by Hotbit for our community via Hotbit English Telegram group on August 19, 2020.
SavageMine, a longtime Conceal community member, posted two great Youtube live-streams that featured Conceal. If you are new to Conceal.Network, we highly recommend you view them! Below are the links:
Over the last two years, we have been actively building our financial and communication ecosystem with the goal of improving lives by protecting your privacy. We consider Conceal.Network to be a premier and safe DeFi investment option. No rug pulls here!
Our aim is to continually improve our customer experience. We do this by being students of our industry, to constantly learn how to apply technology to expand our ecosystem offerings. This is only part of our adaptability.
Time and time again, Conceal.Network continues to adapt to the ever-changing crypto universe to remain not only relevant but to break new ground and innovate using these new and cutting edge technologies.
We strive to compete only against ourselves to improve each day.
So, spread the word and let them all know. You can’t beat a team that won’t quit.
Thanks for being part of our journey.
Until next time.