Protocol Development: Technology

Looking back to Q3, the development team released five major testnet updates, the latest being the v1.3.42b release. The team would like to use this opportunity to thank community members running beta OT nodes for reporting tremendously valuable observations and feeding us analytics insights just by simply running a node.

Significant updates to the code base included the command sourcing pattern introduction contributing to node resilience, an optimized bidding mechanism, and several iterations of refactorings and enhancements that increased overall testnet stability.

Last but not least, the first version of the OriginTrail Network Explorer was released, serving as a window into the world of public data on the OriginTrail Decentralized Network (ODN).

What the team has in the pipeline for mid Q4 will be the implementation of significantly more cost-efficient bidding (more information will follow from the tech team in the coming weeks), updates for identity management, as well as improved data and network layer implementations.

Financials

As anticipated, the financial influence of the TGE has diminished in Q3, which resulted in all percentages of budget allocation slowly moving towards their intended targets. There has been an increase in development costs as well as focus on security, which will be even more visible once we get closer to the mainnet launch. There have also been slightly bigger business development costs, as these activities are of vital importance for the longevity of the OriginTrail ecosystem.

The organisation remains in a good state financially, with enough funding to sustain the generally hurting crypto market. The envisioned financial structure, according to the execution plan of OriginTrail team, was presented at the TGE and can be seen in the values below showing target share (at the end of 2020). Next to the target share, you can find the current share of costs based on the actual funds spent in a particular segment up to the date of the report. The final assets value in ETH on September 30th was 15,830.