Dear friends,
We've successfully finished our Q1.2018 development roadmap. Take a look at what we've achieved during this period.
Move all personal data to the middleware database
All personal data is now stored off-chain in our middleware database.
Turn on the loan feature at the mainnet
The loan feature is now live. Please, take maximum care if you'd like to lend money to somebody, because Karma legal framework for mass credit adoption is in progress, and the reputation system is in Alpha version.
Turn on the BTC/ETH in-out gateways at the mainnet
ETH gateway is now live!
There are no fees for deposits and withdrawals from Karma platform except our blockchain commissions, which includes transfer between accounts inside Karma platform. The blockchain fee is 0.5 KRM for any transfer between Karma accounts.
BTC gateway will be released in several days.
Alpha-version of deal commission algorithm
All the deals inside the Karma platform are to be charged with 0.5% comission. The commission will be allocated to the special account where all the commissions will be held or/and distributed.
Alpha-version of Karma reputation calculation algorithm
First implementation of Karma rank system has been delivered and is now calculated as following:
Scale ranges from 0.00 (lowest value, cannot be negative) up to 5.00 (maximum value)
— +0.05 Karma for each monthly payout in time
— +0.20 for each successfully paid credit in time
— -0.1 for failing to pay montly payment
— -0.50 for credit default
All accounts get initial Karma rank equal to 1.00.
This is a social experiment, so we will constantly track the real practice and make additional fine-tuning of the ranking algorithm.
Salesman social role (referral program)
Karma is a open platform and envolvement of new participants is essential for its development so we can offer a socail role to attract people via referral program. By registring in your account you will have a referral link that will net you 0.1% of each deal during next 375 calendar days.
This feature is enabled in the blockchain via credit_referrer property and to be implemented in the front-end in the next weeks.
New block explorer version
New explorer is avaliable here https://explorer.karma.red/, it has a lot of features:
Accounts;
Transaction URLs;
Fees for every type of transactions;
Witnesses list. Active witnesses (delegates) are the nodes who store blockchain, participate in consensus, signing new blocks and getting a reward in KRM for every signed block. Reserve witnesses also can do it, but they have to gain more votes from the community to jump into the active witnesses' list. Delegates are like miners in PoW-blockchains (BTC/ETH), so they can decide, which blockchain fork will be installed next.
Committee list. Those guys are also elected by the public voting of the token holders. They can decide on commissions updates.
Currency exchange oracles
We have implemented price oralces mechanism that elliminates price spikes and makes collateral valued fairly. All active deligates have to transmitt the prices of all active assets. Only active witnesses can update quotes.
After this is done, a median is then chosen to be the consensus price of an asset. And it's displayed on top of the Karma app:
Several UI updates to increase usability
Understanding Blockchain errors is always difficult for an ordinary non-developer, so we have decided to make UI more friendly and describe all possible fees and errors inside the platform with a comprehensive explanation of what went wrong and how to solve it.
In the voting page we have deleted all values below and added spacing to all digit fields in the format “1 000 000 000”
Wallet section now contains all information about incoming/outcoming deals. Fees charged for all type of transactions is shown below each transaction
Registration confirmation email looks better :)
Also you can see the blockchain explorer transaction URL after successful transfer of tokens inside Karma blockchain:
2FA via google authenticator enabled for extra security measures
We've added investment deals section to the Deals tab, by tuning the blockchain function
vector<credit_object> fetch_credit_requests_stack_by_creditor( …)
Help section is added and contains information about fees and multi-factor authentication:
Overall platform screencast is presented below
Establish continuous integration process
To enable software development process run smooth we have integrated our GIT repository with Bitbucket and adjusted cooperation between developers and development operations (DevOps) based on Jenkins open source automation server. Plus, we've set up the Gitflow Workflow and integrated it into the Atlassian Jira issue tracker. So, we can easily check, what tasks have been put to the release.
Production version is available here: https://app.karma.red
Testnet version: https://tesntet.karma.red
To spend less time for the basic features check ups we have set up the unit testing. So, all new releases will pass quality assurance and reach production server faster.
Perform the third-party security audit
To be sure that our software is hacker resistant and personal data is safe, we have signed an agreement with IT security auditor https://amonitoring.ru/
The bug bounty program is still opened, so if you have any issues to report — feel free to report us at hello@karma.red.
Looking forward to hear about even greater news soon.
Cheers
_