Ethereum Commonwealth development update (23 Aug 2017)

1. Complete financial transparency.

Ethereum Commonwealth adheres to a policy of full financial transparency. We keep a complete financial history in an open document so that everyone can see it.

You can directly access it here.

Financial report is announced in the corresponding thread.

It is also announced on Ethereum Commonwealth ICO site.

2. ERC223 maintaining.

Problem that is solved by this project:

  • Money losses. ERC20 token standard contains a vulnerability, but it is very widely used. This resulted in the loss of more than $ 500,000 ERC20 tokens in the Ethereum network. The problem of ERC20 tokens has unlimited scalability, and it’s only a matter of time if someone loses $ 60,000,000 if no one will stop it.

Here you can track the progress:

Summary:

Some important steps were made in this direction:

  • Bittrex exchange is re-standardized for the sake of compatibility with ERC223.
  • function transfer(address,uint256,bytes,string) was decided a good solution for custom fallbacks implementation. This was moved to recommended implementation since it is not a core part of token standard.
  • ERC20-compatible example was removed from the ERC223 discussion since it is not a part of token standard.

If you are wondering why this standard is done exactly so, then you can read my recent discussion with Nick Johnson from Ethereum Foundation: https://www.reddit.com/r/ethereum/comments/6uckdx/reminder_about_problems_of_most_erc20_tokens/dlui07v/

The next steps in the development of this project:

  • I’m planning to suggest already-existing companies like Golem to launch a standardized contracts. It is possible to update ERC20 tokens to ERC223.
  • I’m also planning to develop a special interface that will allow users to update their tokens with a single button “UPDATE”. Fortunately we have ClassicEtherWallet and we can utilize it for this purpose since it supports ETH chain now.

3. Crosschain ENS.

Rationale:

This doesn’t solve any of the existing problems but significantly improves the whole Ethereum infrastructure. I believe that Ethereum Classic, UBQ, Expanse and others belong to the common Ethereum ecosystem and we will benefit from making bridges between our own ecosystems. This is the first step in this direction.

Here you can track the progress:

Summary:

The proposal was formally described and submitted. I’m waiting for feedback from other Ethereum developers. Expanse and UBIQ developers agreed with my proposal and we decided to use .etc TLD for ECNS, .ubq for UBIQ ENS, .exp for EXP ENS.

If this will be implemented, everyone could use the ECNS name in any of the Ethereum-compatible chains.

4. ClassicEtherWallet updates.

Problem that is solved by this project:

  • Lack of the ability to implement interfaces for applications that run on Ethereum Classic chain only.
  • CEW deprecation compared to MyEtherWallet.

Here you can track the progress:

Randy Torres is currently working on ClassicEtherWallet updates.

Summary:

We are currently working on merging the latest MEW updates into CEW (tho restore their absolute compatibility). This will make it easier to send pull requests to MEW and propose our own projects (such are crosschain ENS lookup and DexNS implementation).

We will implement crosschain ENS lookup at CEW first and then propose the patch into MEW.

The next steps in the development of this project:

  • Crosschain ENS implementation
  • DexNS integration
  • CLassicMask support
  • ERC20 >> ERC223 update interface
  • Personally I think that it is a good idea to natively implement DEX voting interface in ClassicEtherWallet.

5. CLassicMask extension is ready to use.

Problem that is solved by this project:

  • MetaMask is providing API for DApps. MetaMask becomes an important part of Ethereum ecosystem and there were some DApps that requires it to work. Now every DApp that requires MetaMask is compatible with Ethereum CLassic!

Here you can track the progress:

Summary:

CLassicMask extension is ready to use. You can install it from the dist branch of the CLassicMask repo.

Follow this link and follow the instructions to install the CLassicMask extension.

The next steps in the development of this project:

  • We plan to integrate ClassicMask with the online Viper compiler so that developers can deploy their contracts on any Ethereum-compatible chain or testnet directly from the development environment.

6. Decentralized Mining Pool is in development.

Problem that is solved by this project:

  • Mining centralization.

Here you can track the progress:

Summary:

Contracts are ready to deploy.

I have considered that we need to charge contracts with 500 ETC to compensate bad luck miners at the initial stage.

We need to artificially submit DAG epoch data to the pool contract. I’m currently working on tool that will allow us to calculate DAG data that needs to be submitted to each pool contract.

Other updates.

  1. I talked with Nick Johnson about adding new TLDs to ENS and ECNS. I decided that I would not add TLDs to the ECNS until there were any steps taken to integrate ENS with ICANN.
  2. We are considering the possibility of cooperation with UBQ and Expanse developers. There is a lot of common ground between our projects (web UIs, wallets and naming services for example).
  3. I have decided to delegate PR company to marketing team. Ethereum Commonwealth will focus on development.
  4. I have decided to delay any organizational work such as web-site creation and moving github proposals into Ethereum Commonwealth organization until the end of our ICO.

Ethereum Commonwealth

If you like what we do, participate in our ICO: https://dexaran.github.io/ICO/

If you don’t like ICO but also want to support ETC development or this team, here is our donation address: 0x52823e725a34d42e14a1b66fb67299c30c4d8edf

Every ETC is appreciated !

Originally published at gist.github.com.

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