Development & Marketing Update for February 2020
The integration of stealth addresses was added to our QT wallet. A stealth address will allow users to generate a unique address, which in actuality, it’s more of a seed than an exact address. Through the use of this feature, users can choose to receive funds in a different address at each transaction, which will aid in privacy while respecting AML, as every address and transaction associated with that address will still be visible in the explorer.
This feature will be of most benefit to merchants, as it will allow them to provide a unique stealth address, where every payment will be credited in a different Electra address of the user’s wallet automatically. It will offer an added layer of protection to merchants, as the sender will be unable to know the holding amount of the receiver, allowing the receiver to bypass the task of creating a new address each with each transaction.
To help you better understand. In this example, the same command was sent five times to the same stealth address. With each transaction, the recipient was a different address within the wallet of the account holder.
You can view all these five transactions in explorer:
Android and iOS wallet
- Integration of a direct link (button) for each wallet transaction.
- The new button was added in the transaction detail view and redirected to the correct transaction page in Electra explorer.
- Additional minor improvements
The new version for both iOS and Android will be released later this month.
- Several website links and server balancing improvements were completed.
- Article and summary outlining the ongoing process.
We will soon release a summary of the ongoing MVP process. There are a few screenshots in this article as well.
- We will soon also release an interview with the first merchant who started using ElectraPay.
This is an interview with the company owner, where we were interested in obtaining more information as to which features of attracted him to ElectraPay. Furthermore, this merchant is more than a simple cooperation who chose to be the first to implement ElectraPay into their retail business. Without giving to much away, we are very excited with that the future holds here. Look for this interview to be released very soon.
- In addition to the above merchant, we are currently in discussion with several more merchants who are interested in the possibilities of ElectraPay. Based on their unique platform, this will require an additional API, which will be a specific version created to meet the needs of these merchants.
- The merchant is able to modify certain settings within ElectraPay. This includes the number of confirmations that is acceptable for a customer payment.
- The merchant can also decide when to settle all the orders. The settlement can happen immediately, or the merchant can allow for a period of time for reversals.
- Enhancements were made to handling exceptions.
- Minor bugs were identified and corrected, including refining the settlement process. These also included some small enhancements that were noticed during testing.
As you all know, the Cryptopia liquidation process is ongoing and managed by Grand Thornton. During February 2020, there was an additional court session announced to discuss and prepare the roadmap of the user assets and their distribution. Our foundation is fully aware of this topic and attempting to gather additional details. We will inform our community as soon as we receive more reliable information.
Recently, there was an unexpected service outage at Crex24 exchange. Besides Electra, around 100 wallets went offline and were placed under maintenance. During our monitoring of this issue, we noticed that several wallets come back online again. Also, the Electra wallet is re-enabled after our mailing to Crex24 admins. However, we have noticed that the wallet is occasionally taken offline and placed under “maintenance”. We will share additional information as it becomes available.
We would like to take this opportunity to remind our community once again:
Keeping/holding coins on centralized exchanges and 3rd party pools is always risky. The best and most secure way to keep your assets safe is to store them in your own personal wallets. Please use exchanges when you want to buy/sell or trade on a temporary basis.
This month was an extremely busy period, which was mainly in regards to ElectraPay and its related achievements. All our team has been dedicated to preparing the release of ElectraPay.
The Electra Team
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