SERO Foundation Work Monthly Report [Feb-March 2020]
The SERO Foundation refers to a non-profit legal entity named “SERO FINTECH FOUNDATION LTD.” registered in Singapore. The foundation was established to promote the ecological development of the blockchain and SERO public chain, and is committed to the SERO public chain development and construction and community governance transparency advocacy work, hereinafter referred to as the SERO Foundation.
Reporting Directory
1 SERO Public Chain technology research and development progress
2 SERO Public Chain Ecology & Community Latest Trends
3 SERO Public Chain Network Operation
4 SERO Foundation Work Plan
Affected by the Spring Festival holiday and epidemic situation, most of the SERO R&D project team and the Foundation members used distributed office during this period, and reported work in February and March.
One: SERO Public Chain Technology Research and Development Progress
- Underlying Consensus: SERO emission halving upgrade completed
The first SERO block reward halving was smoothly and completed during 29th February-1st March. After continuous monitoring during this period, except for the sharp fluctuations in the overall crypto market price and the decrease in PoW computing power, the SERO main chain did not face any stability and security issues.
2. Product
- PC based Decentralized Light Wallet (PULLUP) performance and function optimization completed
A. Optimized the synchronization experience, the amount is not displayed during the synchronization process
B. Added account caching mechanism to improve account loading speed
C. Optimized the query speed of the transaction list
D. Added the function of automatic version detection and upgrade
E. Added the function of automatically upgrading local DOCS
- Optimized performance and functions of the mobile based decentralized light wallet (POPUP)
A. Optimized the problem that the wallet page could not be opened
B. Added the function of hot wallet update
C. Optimized core code for synchronizing block data
D. Optimized the status prompt of the synchronization process
E. In the wallet management interface, a function of repairing data has been added, which can repair data for a single account
F. Optimized the function of importing mnemonics, and automatically format the mnemonics (remove spaces and enters)
G. Shows the latest block height of the current account synchronization (for asset security, the block synchronized by the wallet is 12 blocks behind the main chain)
H. The function of automatically adapting to domestic and foreign user nodes has been added.
3. Ecological Technology Support:
A. Supay Finance Phase 1 Acceptance Completed
B. Supay Finance used the simulation data generated by itself to import into the system, and verified that the system’s nodes were synchronized normally, the system could not be tampered with, and could get the correct data and trace the source smoothly. Supay’s acceptance was successful.
Second: SERO Public Chain Ecology & Community Latest Trends
Ecological Trends
SERO successfully passed the code audit of IT Security Firm KnownSec.com
[Beijing Knownsec Information Technology Co. Ltd. is one of the six authoritative audit institutions issued by the Ministry of Industry and Information Technology]
11th February: HCoin exchange listed SERO and opened deposit and withdrawal.
27th February: CoinEx officially opened SERO deposit and supports SERO / BTC, SERO / USDT trading pairs.
According to the members of the Foundation, an anonymous team is currently using the SERO public chain to develop a DeFi project that is expected to be available in April.
Community Trends
30th January, 2020: Jason Pope, Director of the SRO Foundation, sent the Chinese New Year’s wishes to the community through the Gate.io live broadcast room. SERO. As a new generation of private public chain, SERO achieved today ’s achievements as a result of the joint efforts of the entire community.
In February 2020, the SERO community nodes, Rose Garden node, Manu node, and Xianlong node also prepared interesting activities and holiday gifts for members of the SERO community on the occasion of New Year, Lantern Festival and Valentine’s Day.
18th February,2020: SERO’s “Dragon Plan” released the first bounty task, which gathered the community’s efforts to achieve a win-win situation.
12th February, 2020: SERO Global Chief Strategy Officer Tony Tang was invited by Hive Finance to join the CEO of HCoin Exchange to host an online AMA Q & A with the theme: “SERO opens the way to public chain innovation.”
18th February, 2020: SERO CSO Mr Tony Tang held an online AMA Q&A with the well-known European community The Goodfellas. The Goodfellas is a well-known European cryptocurrency community.
18th February: The SERO Foundation discusses the “The Big Burn Halving” proposal initiated by the community. In this proposal, the community voted supports and rejects votes at approximately 9:1. Based on the results of the votes, members of the foundation initiated discussions on the second block reward reduction of the SERO chain. The situation after the second block reward cut and the PoW profit after the second block reward cut were analyzed and discussed. In the end, most members of the Foundation agreed with the second block reward cut, and the community proposal officially passed. The technical team stepped up consensus adjustments for the first time. The block height of the reduced block reward was 2768851, and the switchover was successfully completed in the morning of 1st March.
26th February: SERO was invited by the MXC Exchange to participate in the MXC topic section “Matcha Wednesday” on 26th February. SERO CSO Tony Tang was on time to visit the MXC community and explained in detail all aspects of SERO to his online partners.
On 1st March, the SERO Foundation launched the second community volunteer recruitment activity. From this month, the Foundation Volunteers will enjoy related rights and incentives.
On 2nd March, Mr Tony Tang, Chief Strategy Officer of the SERO Foundation, visited the well-known domestic blockchain media Planet Daily and conducted an online live broadcast AMA. A total of more than 2000 users of the group TV watched the live broadcast.
On 20th March, Tony Tang, CSO of the SERO Foundation, visited the Japanese cryptocurrency community, and the online AMA introduced SERO to Japanese SERO followers.
On 24th March, the XT Exchange launched a voting and listing activity, SERO was among them, and plans to conduct SERO AMA promotion and Q & A in the currency community in early April.
On 28th March, Tony Tang, Chief Strategy Officer of SERO, visited the PBank Exchange Community AMA and introduced and answered SERO related questions online for members of the PBank community.
Three: Operation of SERO Public Chain Network
PoW: The computing power of PoW has been reduced by about 50% compared to pre halving, because SERO is a graphics card mining machine, the computing power will closely follow the changes in mining profits, so the changes are very real-time and in line with expectations.
PoS: As of now, the number of valid tickets on the entire network is about 450,000, and the ticket price is 330 SERO per ticket, which is basically not affected by “halving”.
SERO’s dual consensus mechanism design allows attackers to simultaneously attack PoW computing power and most PoS nodes. If someone really has this financial resource to invest, the final result must be worth the loss. At present, SERO’s public chain network is very safe.
On-Chain Transactions: As of 30th March, the total number of on-chain transactions completed on the SERO public chain was more than 1.55 million, and 348 smart contracts. A total of more than 59 million SEROs were destroyed due to insufficient computing power.
Four: SERO Foundation Work Plan
I. Community
Developer Contest
In the near future, the Foundation will lead to hold the first SERO Developer Contest. The specific rules of the competition are under preparation.
2. Technology R&D
1) Supay Finance Phase 2 R&D
Based on Supay’s ability to integrate and import multiple complex business system merged data, according to its requirements, develop a blockchain data query and tracking system for user data traceability.
2) R&D of Stablecoin Projects
Collaborate with multiple stablecoin project R&D and business parties to support the development and operation of stablecoin projects, and the specific progress of which is yet to be disclosed.
3) R&D of Layer-2 layer architecture
Research and development of high-speed L2 fast consensus layer foundation has been developed, and the current architectural design has been completed and has entered the development stage.
4) R&D of new exchange listing interface
Listing with the new exchange, due to the special nature of the SAAS architecture of the exchange, a new set of custom interfaces is required, and is currently nearing completion of research and development.
5) Gero synchronization efficiency optimization R&D
In progress, it is estimated to be completed within three to four weeks to optimize Gero synchronization efficiency and improve tps.
6) Improve TPS
Under development, progress will be disclosed later.
Official links
Official website : https://sero.cash
Tencent : https://v.qq.com/x/page/s0792e921ok.html
YouTube : https://youtu.be/UNG2boG49Io
Twitter : https://twitter.com/SEROdotCASH
Medium : https://medium.com/@SERO.CASH
Github : https://github.com/sero-cash
Reddit : https://www.reddit.com/user/SEROofficial
BitcoinTalk ANN : https://bitcointalk.org/index.php?topic=5123382.0
Linkedin :https://www.linkedin.com/company/sero-global-inc/
Facebook : https://www.facebook.com/SEROProtocol
Gitter Community : https://gitter.im/sero-cash/Lobby?utm_source=share-link&utm_medium=link&utm_campaign=share-link
SERO VS Zcash encryption speed comparison :https://www.youtube.com/watch?v=bc6yHTLSl5M
Telegram Community
Chinese group : https://t.me/SeroOfficialChs
English group : https://t.me/SeroOfficial
SERO Announcement : https://t.me/SEROannouncements
SERO Official Technical Support : https://t.me/SeroFans
