We are glad to share with you the new report about our work and progress during last 5 months. This period was rather calm and steady, but it definitely was productive and allows us to move forward on the way to our major goal.

Two Successful EXRT Distributions

Second distribution (June-July) was supposed to start at a really bad time that we called ‘Ethereum gas crisis’, the main issues were: overly expensive transaction costs, unstable Ethereum network, long confirmation times. Due to this we delayed the distribution until conditions were at least a bit better. All tokens were sent on 17th of July.

Third distribution (October) happened really fast and without issues. It finished within few hours after the first transaction was sent.

Reminder:

EXRT distribution form closes on the 2nd of January at 20:00 UTC

Make sure to register here: https://exrnchain.com/exrt/application/

Exchange Listings

At the end of May EXRN was listed on a Hotbit exchange. In June we managed to list EXRN on new decentralized exchange named TokenJar, and on Mercatox exchange. In July EXRT also was listed on TokenJar.

New Team Member

In June we have added Nassim Bahloul to the EXRNchain team on the position of a Lead UI/UX Designer. Nassim has over 10 years of experience working for large corporations and startups. He’s really passionate about our project and is now fully part of the team.

New EXRT Distribution Application

In July we released the brand new EXRT distribution application system that is easier, faster and has a ‘one-click’ experience. This system was created to avoid any manual mistakes that people do while filling out the form, which then makes them disqualified. With the new system, third distribution ended up being almost perfect with no issues by our community members.

Check it and sign up: https://exrnchain.com/exrt/application/

Team Interviews

In August, moderator of our telegram chat approached us asking to do a quick ’10 Questions’ interview with each team member. We though that was a wonderful idea and happily answered his questions (that were popular among the community).

Zhuan: https://medium.com/@Ferroresonance/10-questions-2e159f0b739

Nassim: https://medium.com/@Ferroresonance/10-questions-2-3f17ffe89fd

Vadim: https://medium.com/@Ferroresonance/10-questions-3-8c4fa19dc2dc

Yon: https://medium.com/@Ferroresonance/10-questions-4-582e39ac4c89

All of these interviews are absolutely recommended for reading if you are passionate about EXRNchain project and want to know more about the team and their story.

EXRNswaps & EXRNpay User Interface

In September, we have shown the community what work is being done behind the scenes: UI\UX of two EXRN apps. Essentially we published how they will look and what features are going to be in them. Before this share the information wasn’t exactly known.

Here you can see the live video of the EXRNswaps and EXRNpay UI:

https://twitter.com/EXRNToken/status/1046025955549097984

https://twitter.com/EXRNToken/status/1046567803145392129

1 Year Anniversary

October 7th was an EXRNchain 1 Year Anniversary. Exactly one year ago on this day we announced fair airdrop of EXRN tokens and opened registrations. You can read full message to the community from Yon Jung here:

https://twitter.com/IamYonJung/status/1048958896600244225

We have opened an EXRT Giveaway as a promotion for community on EXRNchain anniversary. It has concluded and rewards have been sent to the winners.

Double-sided Transactions \ Bilateral Crosschain

Let’s start off by explaining what is ‘double-sided connection’ or ‘bilateral crosschain’. Double-sided connection allows blockchains to actually communicate with each other.

The most basic example is: you are at a chain A, you want to query some data from contract on chain B, you send bilateral crosschain transaction (so A → B), and once your original transaction and replicated transaction on chain B get confirmed, contract on the chain B will send a reply back to the requestor on chain A (so B → A).

This is the simplest form of bilateral crosschain application that works with only 1 execution call and does all the multichain work on the backend.

The more complex form of double-sided connection can allow for chain A and chain C to exchange information through the chain B. Let’s have an example where you buy BTC with ETH on EXRNex.

Once you have clicked the ‘buy’ button for an order:

1. Transaction to the bidding contract is generated. [Chain A]

The execution call with swap details is sent to the EXRT Network. [A → B]

2. TAI (Trustless Asset Identification) and hashing, computation, keys generation, validation processes are happening at backend distributed over the EXRT validating machines with no centralized entity at control. [Chain B, backend]

3. Backend generates the execution call from the maker chain to proceed TAI and verify amounts. [C → B]

4. Assets of both sides are verified to be genuine. [Chain B, TAI]

Funds are locked in and escrowed. [Chain B, backend]

5. EXRN collateral for the trade amount is bought by taker. [Chain A]

6. EXRT fee purchased. [Chain B]

7. Proceeding the trade. [B → A and B → C]

8. Funds unlocked, BTC sent to takers wallet. [Chain C]

Maker receives EXRN collateral, which is automatically swapped back to ETH. [Chain A]