KONG, Nov. 15, 2017 /PRNewswire/ — The OAX Foundation, the
not-for-profit entity that supports the development of the OAX
decentralized exchange platform, held its first working group for
industry participants this week. The aim of the working group is to
develop a series of industry “best practices” in the areas of
compliance, KYC, holding and security of funds and other key areas that
will be integrated into the ongoing development of the OAX platform.
OAX project aims to develop and launch a decentralized exchange with
collateral supported asset gateways acting as the “on-ramps” to the
ecosystem. By increasing transparency (including posting collateral to a
smart contract for digital assets and/or depositing fiat into
segregated accounts), asset gateways allow users to properly evaluate
the risk of any trade. By doing so, OAX enhances consumer protection to
the sometimes opaque cryptocurrency space. OAX plans to launch the first
phase of its rollout for institutional participants in the first
quarter of 2018, with retail access coming at a later date.
OAX Foundation’s development team, led by Enuma Technologies, also
demonstrated early UX/UI screens and features to the working group,
including the minting and burning of collateral backed tokens,
transactions and other key features.
attendees of the Working Group were from key industry stakeholders,
related to key milestones in the roadmap for the OAX project.
Participants included Blockbonds, a technology start-up that utilizes
blockchain technology with the aim of helping to “bank the unbanked”;
Trusted Key and Netki, two of the KYC industry leaders; Octagon
Strategy, Asia’slargest digital asset OTC trading desk; PwC Hong Kong,
adviser to the Foundation with respect to governance, risk management
and internal control matters; EY, adviser to the Foundation in relation
to taxation and accountancy matters; alongside one of Hong Kong’s top
digital asset legal firms, King & Wood Mallesons.
about the inaugural meeting, William Barkshire, Senior Advisor to the
Foundation and Working Group chair said. “It was an extremely productive
first meeting — the aim of the OAX project is to enhance consumer
protection and transparency for digital asset users and a safe,
compliant avenue for bringing fiat currencies onto and off the
blockchain. As such, KYC and regulatory compliance are two fundamental
areas of focus. The group was very receptive, and engaged in a frank and
honest dialogue about the challenges and opportunities they foresee. We
will take that input and use it to further refine the project.”
Working Group will meet monthly to discuss various topics, such as
asset gateway protocols, KYC/AML, compliance and effective banking
integration. The next meeting will focus on KYC interoperability and
Decentraland Dev Update- Terraform Registration, Web Client and Editor, EthAlarm , Genesis City Auction & MoreTerraform Registration
Users can now use their Ledger hardware wallets to participate in the Terraform Registration
and stake MANA to either the Genesis City auction or one of the many
community districts. We also fixed a recurring problem that led to
transactions not being accounted for. Finally, we are about to finish a
feature that will enable advisors, early contributors, and the team to
use their vested tokens in the Terraform.
Genesis City Auction
team began the testing process for the land auction web app (which is
being deployed to the Ropsten testnet network soon!). We will be
releasing the source code and starting with the security audits next
Web Client and Editor
We’re at the final stage of integrating the web client with the scene editor.
This is our top priority, as it will allow early users to start
experimenting with creating and uploading content to [testnet] land. Our
goal is to release early and nourish ourselves from everyone's feedback
to iterate fast.
we have fixed some performance issues and added new features to the
editor, such as uploading objects directly from Google Poly, experimental support for editing directly in VR,
, among others.
response to EthAlarm was outstanding, and we are looking into ways to
make this dApp more scalable. Thus, we’re temporarily taking down the
public instance of EthAlarm to improve its performance and reliability.
District Governance Framework
We are working with District leaders to help organize, develop and deploy district projects. Currently, we are building out a District Governance Framework that
will act as a preliminary guide in which the roles and responsibilities
of district leadership and participants are outlined. This is a
collaborative effort between the core Decentraland team and various
started testing a small application that will allow users to choose
land parcels and open them in the editor to work on them and also upload
their content to the web client. Codenamed “loader”, this dApp allows
you to claim test land in Ropsten and launch the Editor to work on your
Waves-NG just around the corner and rewards set to increase to around
5% per year, it’s a great time to start mining WAVES and generating an
income from your holdings.
rewards are about to rise substantially! The terms for miners are
changing, making running a node or leasing your balance even more
profitable. Projections are that miners will be able to earn up to 5%
annually on their balances — not taking into account expected increases
in transaction volumes, or the price of WAVES.
Not only that, but the Waves platform has just successfully tested the NG consensus protocol,
which promises vastly increased speeds and throughput on the
blockchain. Once NG is released on mainnet in mid-December, we expect
the network to be able to process around 6,000 transactions per
minute — making it the fastest production blockchain in the world, with
many more transaction fees to distribute.
Mine WAVES for profit
the number of transactions rising steadily over the past few months,
and about to take another step up as NG goes live, there are new
opportunities for miners
to generate an income from their holdings. All you need is 10,000 WAVES
and a simple hosted server to run the client — you won’t need any
specialist hardware. You can find guides on how to get set up at https://www.cryptocompare.com/mining/guides/how-to-mine-waves/.
You’ll receive all of the transaction fees from the blocks you process,
in WAVES and other assets, as well as rewards in the form of the Miners Reward Token (MRT). The total annual rewards earned by miners will increase by up to 5% in the beginning of 2018.
Lease your WAVES
If you don’t have 10,000 WAVES or don’t want to maintain a node, you can always lease
your balance to a miner or mining pool. Simply click on the Leasing tab
in the lite client and assign your balance to the address of the mining
pool you want to use. By doing this, you support the network and get
paid rewards, but won’t have to run a node yourself. Leased balances
remain in the full control of the owner — they never leave your
account — and you can cancel the lease and unlock the WAVES for your own
use at any time, with just two clicks.
You can find more information and a list of mining pools at http://wavescommunity.com/leasing.
Different pools pay out different proportions of their revenues, in
WAVES and MRT, as well as sometimes their own assets. Lease or mine
WAVES, secure the network, help process transactions and get paid!