Utrum Development Update — Issue #2

Utrum’s Transparent Development Update — Issue #2 — Sep 6, 2018

August was another VERY busy month for us here at Utrum. Our Development Team has made major strides in several important areas:

Utrum Blockchain

Wallet Functionality and Design

Utrum Rewards and “HODL” Features

Utrum Platform (Alpha build)

Data Aggregation and Api Functionality

Architecture and Framework

Database Design

UI Design

Before we get into the specifics, we want to introduce two new members of our Development Team, now 8 strong.

Meet the New Team Members!

In August we hired two new back-end developers, Anshu Kumar and Divyang Hirpara, who are now hard at work tying together the back and front ends of Utrum Platform Alpha. Anshu and Divyang bring over 11 years of combined experience in backend development, Ruby, and database design.

As our team grows so does our excitement, with progress being ramp’d up on all fronts, blockchain, wallet and Alpha.

While we do see release updates right around the corner, we don’t like to hype and so those announcements will come in due time and when we have precise dates to announce. In the mean time, here’s what we’ve been up to…

Wallet Updates

First on the docket is the Official Utrum Wallet. In August our blockchain development team solved some MAJOR hurdles to creating a wallet that incorporates the unique Utrum Reward functionality for Hodlers.

The Utrum Wallet, developed from a fork of Monaize Team’s wallet work and with some light guidance from their very helpful devs, is now building and operating without error in our labs and across OS’s. Our wallet is multi-OS and multi-coin, allowing Utrum hodlers to store OOT, KMD, and BTC.

The wallet incorporates a very cool HODL feature, which allows you to “lock” your OOT tokens for 60+ days and earn rewards on holdings after that initial 60 day hold period. This is a very complex feature to develop and our blockchain devs cracked that nut in August!

Here’s a quick breakdown of how this functionality works and one of our transaction tests on the chain:

Here’s an Infograph of the Coin Flow Through a HODL/Reward Transaction

In the above infograph, we can see the flow of OOT tokens when a holder holds and then claims a reward, on OOT holdings. In the graph you can see where we send funds to a script address, the funds are then timelocked and after that period had been passed we broadcast the redeeming transaction (here’s a live example) and the coins go to the authorized address.

“You can picture the script address, as a little program that has its own address to receive funds. You can spend the coins sent to it, if you meet the conditions stipulated by that little program.” — Emman, Utrum’s Dev Ops

Cracking the timelock/hodl nut was no easy task and we are very excited to share that we’ve crossed the hurdle and are on to the final tasks before release.

We’ve now set our sights on a plan for implementation, playing with bitcoinjs, and finalizing builds for the most popular OS’s…followed by thorough testing leading up to the release.

Building Alpha — Data, Architecture, UI

One of the primary tasks our developers have mastered in August was data aggregation for Utrum Platform Alpha. Our developers have setup API aggregation for over 5,200 assets and projects within cryptocurrency. We haven’t run the numbers, but Utrum may end up with the most extensive database in the industry…not to mention our goal of the most useful and intuitive.

Not only do we have the data flowing, our devs are also hard at work to architect the database as well as developing out the Utrum Platform front-end.

The front end is coming along very quickly as we are now populating our front end with data being aggregated and building out the database.

Looking Ahead

As we enter into September we are, as usual, blazing ahead and firing on all pistons. Our incredibly talented team of developers are reticent to make release predictions but we anticipate September being a very productive and fruitful month.

This is based on the hard work and progress seen so far, the understanding our team has gained in solving some of the complex problems with the blockchain wallet dapp, sorting out the user interface of Alpha, and designing the database structure, rules, and functions of the initial Utrum Platform.

As you know if you follow us, we love our community of supporters and are working tirelessly to deliver the absolutely best trust platform blockchain has seen. Thank you for your continued support and any involvement you have with us is also appreciated!

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