X8 DEVELOPMENT UPDATE

In this blog we will try to give you a look inside current X8 development process, what we are focused on now, and a look at what the future will bring.

 

We have set three major milestones for the develpment process. Alpha X8C release, Crypto X8C release and Full X8C release. In this blog we will focus on what has been done, try to explain the work methods our developers use and the major tasks standing between now and a functional release that you can use.

 

Categories in the diagram above marked with a star (*) have subtasks that will be shown below.

 

Our developers are using a method called Agile Development. That means development is done in cycles, first completing the most straightforward and important tasks and adding complexity with every iteration to reach smaller and larger milestones while still being versatile enough for any changes during each iteration. The project is being developed to be cross-platform with modularity. Modular architecture is important for security and scalability reasons.

 

At the present moment the basic infrastructure is set, the technologies are selected and the basic skeleton of the platform is functional to facilitate the X8C Alpha prototype. Technical documentation is almost finished and main  workflows and functionalities are solved (buy, sell, liquidity, mint, burn) and are ready for implementation in upcoming development cycles which present a lot more complexity and quite a substantial amount of work.

 

The new website and user dashboard is being prepared and will at first stage display the live price action for the existing X8X token and the new X8C Alpha prototype.

 

Now we will look at our major milestones and roughly what work is still left to be done before we can release the different X8C stages.

 

 

ALPHA RELEASE

 

With the X8C Alpha release you will be able to see live price action of X8X and X8C on our new website. X8C will be working on a small but functional scale. It will be operating in crypto space utilizing the ERC223 X8C token standard and ioNectar ARM AI will trade at least one currency (USD) or more on one exchange. As you know, before a full release this will be expanded to 8 currencies and gold traded across multiple exchanges and brokers. To achieve a working Alpha X8C, a couple of major tasks are the focus  at the moment:

  • basic backend
  • basic X8C ioNectar integration
  • website redesign
  • website real-time charts using websocket

 

ioNectar (ARM AI platform) is being configured to manage the X8C account, generate real prices and relay them to our new website.  With the new website showing real-time X8C price, the milestone is reached and the prototype is released.

 

 

CRYPTO RELEASE

 

The Crypto release will be the first iteration of X8C that you, the user, will be able to access and use. This release will feature all 8 currencies and gold being traded by the ARM on a broader spread over exchanges and brokers. It will have a fully functional website/platform. The Crypto release is basically a full release that is only missing support for entering/exiting X8C with FIAT. This part of development is split into 3 major tasks, each with its subset of tasks:

 

  • BACKEND
  • order, transaction and user managers
  • technical documentation
  • technical documentation for blockchain payment processor

 

  • USER DASHBOARD
  • mailing
  • crypto payment
  • KYC
  • order book
  • support desk and CRM integration

 

  • WEBSITE
  • website redesign
  • content for website
  • legal terms X8C for website

 

Before and after the release the most significant part will be the testing and security overview of the platform. This period might present new, as yet unidentified challenges but will help us bring the platform to a stable version. We might open a bounty program for knowledgable coders to help us identify potential risks and problems and reward them for their help.

 

Even though X8C Alpha is not released yet, some tasks from the Crypto release have already been completed or are being worked on at the moment due to their essential importance in the core model of the system.

 

FULL RELEASE and beyond

 

After the Crypto release and a stable version of the platform, the main focus will be on adding  more payment options. EUR, USD and BTC payment processors will be developed and integrated. The preparations for this steps are being worked on at the moment, as the legal and business processes might take quite some time.

 

The goal is to have a secure and stable platform that facilitates main X8C use cases, helping new startups raise funds in a stable crypto currency, preserving value for individual X8C holders and the most important future use case, to enable commercial clients to accept payments in X8Currency.

 

We are constantly expanding our core development team with junior and senior developers, security experts and system administrators, building a versatile and competent fintech company with a great vision to bring a trusted value preservation stable digital asset to the world.

Simon Zajc

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