TEMPORAL and RTrade Development Update - Saturday July 14th 2018
TEMPORAL and RTrade Development Update
It's been another very busy week at RTrade, so we apologize for the delayed blog post! Most of this week has been spent on furthering the quality of TEMPORAL, and fine-tuning it. Furthermore, we have redefined the RTC ERC20 token that powers our services.
This week was primarily spent redesigning our payment system to accomodate two different types of payments. Frequent users, and infrequent users. Frequent users of TEMPORAL can setup a modified payment channel between themselves and RTrade. Every time the user wishes to perform an action, they generate a signed message that is verified by us. This message contains the information needed to charge the user for that particular action. Infrequent users of TEMPORAL can instead opt for a much more simpler payment system. Whenever they wish to perform an action, RTrade generates a signed message, which when presented to the payment smart contract by the user deducts the given amount of RTC/ETH from their wallet, and sends it to RTrade wallet.
The web interface for TEMPORAL has also gotten some more work done on it, with all basic file upload, and content pinning functionality working. Next up is integrating the "cloud storage" demo app into the frontend, allowing users to pay for storing content in the TEMPORAL system, while also serving as a demonstration of the types of applications that TEMPORAL can power.
We have been steadily focus on RTCcoin before we launch. We have made some great changes to our Proof of Stake system. We have a new merged staking system in place and have decided to lower our initial supply (88M down to 61.6M) with no max supply. This can only be increased via staking and merged mining. Our redesigned staking system will be it's own service, allowing users to lock up coins for a number of blocks, and be rewarded with staked tokens every block. These coins can then be withdrawn at your leisure. The initial stake can be withdrawn after the stake period is over. This system will be fully functional as soon as RTCoin is launched. Merged mining smart contract allows people who mine blocks on the main ethereum chain to also claim RTC. This system is still being designed and implemented, and we will also finalize RTCoin allocation. Stay tuned, before RTCoin is launch we will have more updates and a finalized detailed information package for future plans of RTC. There will be NO ICO for RTCoin
As we expanded we will always keep RTrades community up to date first and foremost. We value everyone who believes in us, taking the time out of your day to join our telegram groups and say hi or commenting on our blog posts means alot. We've been behind the scenes working for a while focusing on great products and technology. With many more great announcements on the way, stay tuned because this is not even the beginning.
TEMPORAL GitHub - https://github.com/RTradeLtd/Temporal
RTrade GitHub -https://github.com/RTradeLtd
Telegram - https://t.me/RTradeTEMPORAL