Ethereum Commonwealth Development Update (Dec, 2017) •

1. DexNS UI added at ClassicEtherWallet.
Problem that is solved by this project:

  • DexNS turns hard-to-remember hex addresses into human-friendly text names.

  • DexNS tab at ClassicEtherWallet allows to register names with a couple of clicks without a need to call the contract directly…

  • DexNS allows to register a Name instantly. This means that it is possible to register a DexNS name from the third party smart-contract (ENS does not allow it).
    Here you can track the progress:

  • Etherwallet Github Repo

Update summary:

DexNS tab is already added to ClassicEtherWallet. Warning! DexNS is currently running in free mode. All the names are fee free but we need to update the DexNS smart-contract before the final launch. It is planned to transfer all names to the final version of DexNS but it is possible that names will be wiped before contract upgrade.

2. DexNS smart-contracts update.
Here you can track the progress:

Rationale:

  • Smart-contract hacking is a great problem of Ethereum (Classic). It is absolutely impossible to create a complex system of smart contracts without a single mistake on the first attempt.

TheDAO was hacked, ENS launch fails with two critical mistakes in the code, Parity multisig was hacked twice, Augur (REP) suffers smart-contract issues at launch as well.
It is absolutely necessary to launch a bug bounty before final release of a smart-contract. Even if the smart contract contains only a couple of lines of code.

Summary:

DexNS is currently under bug bounty. No major issues were reported. 2 important improvements were considered. As the result, it was decided to upgrade the DexNS smart-contracts before the final launch.
DexNS bug bounty will end at December 10, 2017.
Payments schedule:

4. ECNS hash registrar update.

Here you can track the progress:

* ECNS commit history.

Summary:

Hash registrar contract was successfully updated according to the proposal #30.

5. Decentralized Token Exchange (Radex).

Problem that is solved by this project:

  • Lack of decentralized token exchange for Ethereum CLassic tokens.

Read more about Radex:

Summary:

I had a conversation with a Radex developer recently and now I’m happy to announce that Rados.io is going to launch the first decentralized ERC223-token exchange. Radex will be launched on both ETC and ETH networks.
As the result, we will have a decentralized exchange for ERC223 ETC tokens soon.

6. Ethereum Classic messaging system.

Problem that is solved by this project:

  • Lack of possibility to contact the owner of the address on the ETC network.

Here you can track the progress:

Github repo.

Summary:

One of the main problems of Ethereum (and other cryptocurrency) networks is that you can’t contact an address owner.
Imagine that you have sent 30 ETC to someone’s address by mistake. You want to contact him and say: “Hey, this was a mistake. Please, send my ETC back”.

Imagine that you spotted that someone has deployed a Parity multisig. You want to contact him and say: “Hey, this contract is insecure. Do not store your money there”.

Imagine that someone hacked TheDAO hacked some contract. You want to contact him and say something.

You can not directly send a recognizable message to any owner of any address. I’m aiming to solve this problem. The conception is to create a special smart-contract that will allow to send messages and store messages for address owners. Then I will connect this service with ClassicEtherWallet and ClassicMask to display this messages when someone unlocks his wallet.

We can not guarantee that the address owner will find out about the message sent to him even with this smart contract, but the more adoption the ETC Message System will get, the more likely the message will be delivered successfully.

In addition, I can say that the experiment to create a crosschain service succeeded (DexNS works on crosschain basis). We can now solve a problem of lack of messaging system with a Crosschain Ethereum Classic Message Service and make ETC a core part of this service.

7. Crosschain token swap protocol.

Rationale:

  • Develop a reference implementation of crosschain token swap protocol.

Here you can track the progress:

Summary:

Token swap protocol development is currently in progress. This project represents a system of smart-contracts that will serve as “swap channel” for crosschain token exchanges.

There are two contracts: channel contract and channel manager. Channel contract is deployed once someone wants to exchange tokens while manager contract serves to prove channel contract validity. Participants could set up a couple of swap channel contracts via the channel manager to exchange, say 10 DEX to 5 GNT. One channel contract will lock DEX tokens on ETC chain and another contract will lock GNT tokens on ETH chain. The first participant will be allowed to withdraw GNT tokens once contracts are created and tokens are locked. If the GNT withdrawal will be cryptographically proven then the second participant will be allowed to withdraw DEX tokens from the first contract.

Ethereum Commonwealth

Ethereum Commonwealth is a completely financially transparent development team that aims to solve a number of Ethereum Classic infrastructure problems and improve the whole Ethereum Classic ecosystem.

You can find a complete Ethereum Commonwealth roadmap here.
Ethereum Commonwealth official address: 0x52823e725a34d42e14a1b66fb67299c30c4d8edf

If you have something to say, feel free to reply to this post or contact via e-mail: [email protected]

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Great job by Dexaran and the CommonWealth team. Thanks for putting together this update, @Classic_Kevin

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Solid update,

Thank you for your work guys.

2018 - Year of the Decentralized Exchange Takeover

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