For ShipChain, Magnus developed the smart contract of the 30M USD SHIP-token ICO. He also developed the smart contract for NODEhaven, which went on to raise 50M USD with their ICO.

Needless to say, we are very excited to have him on the advisory board to audit our token, VIDT. Together with our lead programmer, Ceciel van Helden, Magnus’ extremely thorough approach has made V-ID’s token code more robust, simple and future-proof. As a result, V-ID’s main validation - and verification processes have been streamlined even more.

V-ID explained in 90 seconds

Let’s look at the details of his contributions to the code of VIDT

First off, the V-ID token did not fully comply with the ERC20 standard, even though it exactly followed the Ethereum wiki and ethereum.org website. It seems that both these sources are, surprisingly, unreliable and the source code has been updated.

Secondly, no one can predict the future and, for example, future bugs in the Ethereum protocol could require us to be able to ‘pause’ the contract. Thus we implemented a feature to be able to pause all payments.

Earlier versions of the token were urged by the community to protect user funds by preventing the possibility to send tokens to contracts. This block was lifted in favour of allowing multi-sig contracts for added security.

Furthermore, some efficiency upgrades were implemented to reduce transaction fees.

Lastly, we added a safe method to return tokens, other than V-ID tokens, to their rightful owners, to act as an extra safety measure in case of an error in a transaction.

You can check out Magnus Dufwa’s complete audit of the V-ID token here (PDF)

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This PDF is validated, so you can verifiy this file using the Verification Terminal at v-id.org