Creditbit Outlines the Development Status in the Latest Update

Creditbit addressed the community’s concerns regarding the marketing and promotions in the recent update on Bitcoin Talk, along with providing a timeline/ report on the various sub- projects currently being undertaken by the dev team.

The dev team thanked the community for suggestions regarding marketing and promotional activities and informed that the priority right now is the development of DAO SCs and Dapp. The promotional and marketing activities will be addressed by DAO and Executive Board.

As for the community meetup, a suitable platform is yet to be finalized but the whole infrastructure should be ready soon.

DAO

DAO Smart Contracts are expected to be ready for testing by July 7, 2017, and will be deployed on the main Ethereum Network shortly thereafter.

The first three proposals to be implemented will be:

– proposal to establish a new position/title within Executive Board,

– proposal to cancel a position/title within Executive Board,

– proposal for no confidence for an already elected member of Executive Board

The next major steps following the deployment of SC include:

– prepare Dapp for more convenient interaction with DAO contracts, enabling all members to candidate and vote in a simple and straightforward way,

– claim and lock tokens for the development and DAO Funds,

– publish step-by-step instructions on the voting mechanism and overview of DAO structure.

DAPP

DAPP is expected to be ready before the elections, tentatively scheduled for next month. The major functionalities of the DAPP will be:

– transactions

– locking and claiming (CreditBOND)

– voting and candidature (CreditDAO)

CreditGAME

CreditGAME contracts will immediately follow after the deployment of CreditDAO and DAPP. A few games are already developed but will need to be linked with other SCs before deployment.

The dev team concluded the post by reiterating the points from the previous update regarding the FAQs including questions on Development Team identity, repeated requests for Migration, market conditions etc.

Finally, the dev team explained that DAO which will give the community the power to elect the team and will also help raise the token’s visibility. The team is also in the process of creating a new development roadmap and will analyze the appropriate steps to drive CRB to ‘the place where it belongs’.

The current community members will also be invited to participate in development and designing and will be rewarded from Development Fund (yield) in CRBs.