Development Update January 2017 – Decentralized Pegging Server, Syscoin 2.1.2, Blockmarket and Project Mongoose


The new year is just beginning but the Syscoin team has been hard at work and have a series of updates and releases lined up throughout the 2017.


Syscoin Roadmap Update

The Syscoin Roadmap has been updated to reflect our plans throughout this year. This year’s development effort’s are focused around building products and an ecosystem around the Syscoin platform. We’re now able to move faster with product development as we have more than double the bandwidth for non-core development than we have for core development.


Support for New Currencies and Open Sourcing Syscoin PricePeg Server

Syscoin 2.1.1 has support for dynamically updating the currencies supported by the marketplace dependent upon which peg the merchant has selected for their offer listing. We will be demonstrating this ability this weekend by adding support for five new currencies to the Syscoin marketplace- Ethereum (ETH), Waves (WAVES), Dash (DASH), Factom (FCT), and Monero (XMR). Through the power of the dynamic peg system these new currencies will become available for all merchants to price their item in as of 11:59pm US/PST Saturday, January 14.

In addition to adding these currencies to the official peg we will also be making the code for the Syscoin Price Peg Server which runs and maintains the official Syscoin Price Peg available to the public. We’ve updated to peg code to allow for support for an infinite combination of currencies with a very high level of accuracy. This will allow anyone with minimal coding knowledge to setup their own price peg, providing the community and merchants with the ability for even more diverse currency selections in their offer pricing. We hope that by open sourcing the Syscoin Price Peg Server developers from the community will participate in improving it – we welcome pull requests. The Syscoin Price Peg Server code will be released at the same time as the new currencies are added to the marketplace- this coming weekend January 14 at 11:59pm US/PST.


Syscoin 2.1.2 Development

Syscoin 2.1 was just released and following that we quickly released an update to improve ease of use for exchanges via Syscoin 2.1.1. We’ve continued to develop new features and fix bugs in the interim period and Syscoin 2.1.2 will be released some time in Q1 of 2017 with both bug fixes and several key new capabilities. You can follow the progress of Syscoin 2.1.2 development via the Github milestone.


Blockchain Foundry’s Microsoft Product Certification of Blockmarket API

We’ve completed a long list of prerequisites needed to publish certified products to Microsoft’s Azure Marketplace and are in the final phases of packaging Blockchain Foundry’s first product offering for review and certification by Microsoft. We have a call scheduled this week to review the final points of this process before submitting the final package to them for review and certification. We’ll have submitted our product within the next two weeks and then await Microsoft’s feedback.


Blockmarket Development

Blockmarket development is progressing now that we’ve completed the release of Syscoin 2.1 and the related whitepaper. We are working to complete final updates of the API layer. Once that is complete we’ll only have to convert our mockup interfaces to markup and connect them to the API. We are planning on being able to share screenshot progress of the working Blockmarket application with the community in late January.

The full release on Blockmarket will be dependent upon our thorough testing and approval of the user experience,  its target release is for Q1, 2017. To be clear, the Blockmarket release will consist of two primary components- Blockmarket Server and Syscoin Desktop. Syscoin Desktop is a Blockchain Foundry product and application which replaces the current Syscoin “Reference” or “QT” wallet. The team will continue to maintain the reference QT wallet with all new features, but Syscoin Desktop will also get these features and become the default means by which 99% of users experience Syscoin services, always having the option to use the reference QT wallet in parallel if they so choose.


Project Mongoose

Something new that we’ve been exploring developing on the back of new capabilities present in Syscoin 2.1.2 is something we’re calling “Project Mongoose”. We’re remaining tight-lipped on the specifics of Project Mongoose for the time being but what we can share is that its another product built on top of the Syscoin platform and serving to provide a decentralized on and off ramp to and from various cryptocurrencies all secured by Syscoin and delivered via a consumer friendly front end, using similar principles to those of Blockmarket in terms of ease of use and usability.


We’re excited for 2017 and are ready to come out of the gate strong with a range of products built on top of the Syscoin core that we’ve been working to develop for the past year- all that time with this vision in mind. We have a lot planned but hope for the timing of the releases to provide a fairly consistent stream of updates and news for the Syscoin community. Looking at the first quarter of 2017 alone we’re looking to deliver (in order, pending certain dependencies and approvals)- Syscoin Price Peg Server and official support for five new currencies, Blockmarket API Server public release and Microsoft Azure Product Certification, Syscoin 2.1.2 Core release, Blockmarket M1 and Syscoin Desktop release, Blockmarket Azure Product Certification and maybe even Project Mongoose- we have even more planned for the rest of the year!

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