Awesome job, guys! Thanks for the details @ning!
I am very excited! You even implemented one of my ideas. Thank you.
One more idea that would only be a line of code: touching the assets total toggles $ and lP display… i know that feature is already in settings but just try it!
Very excited to update
Woooooooah so much FASTER! AWSOME JOB!
Good to have this feature now. But I doubt that it will bring any effect at these rates. If I have to choose between 0.000001 and 0.000004 or 0.00000012 PRV for a slow, middle or fast transaction I guess everyone opts for fast because it makes not really a difference. Result = All Transactions are slow again.
I would suggest, to change these prices, in general, to prepare the network for the long run (times when new-minted prv will get less and less). What about 0.0001 slow, 0.001 middle, and 0.01 fast transaction. This is still incredibly cheap. Emotionally it makes no difference at all, feels still like zero.
Might be a good chance no to make these little corrections together with the new feature.
If the objective is to add an option to speed up transactions, there is no need to increase the current network fee, you can just let people set a custom fee and increase to whatever they want.
@sato and @devil-4-tomorrow - re speeding up transactions, the big boost will probably come with privacy v.2 (one-time addresses) and also by improving the liquidity provider design. priority fees should really be dynamic, and determined either by trader or provider.
you can all expect the fee mechanism to improve along with these new developments.
trading volume is looking very nice at the moment. glad to see you all liking the new features!
New: HD wallet
Now ready on Github for android users who want to be the first to try it out. For everyone else, this update will arrive in your respective app stores some time next week.
We’re trying this new thing where we release major updates early for those who want to test it and give feedback before it goes live for everyone… novel i know. so let us know what you think!
Can you do a beta release for iOS on TestFlight?
Currently, No we don’t have a beta release for iOS on TestFlight. But you can send me your phone ID so I can add you to tester list then send you a link to install app via ad-hoc.
Phone-ID from where? Please let me know so I can send it. I def want to test it out.
If you have a Mac computers, you can follow this guide to get your phone’s UUID
If you have a Windows computers. Please connect the phone to the computer then use iTunes to get phone’s UUID.
I DM’d you my UUID. Thank you!
Can you guys add in-app charts and net asset value across all key chains?
@ning Is this still going to be important when the HD wallet release comes out?
If so, is there any reason not to use the pDEX chain for everything and not use the Anon chain?
HD wallet doesn’t affect this. until privacy v.2 is released, trading directly from your pDEX keychain will result in faster execution.
If you trade from Anon (or any other keychain), there is a multi-step process that still involves your pDEX keychain, but it happens under the hood. that’s why using your pDEX keychain from the first step decreases trade execution time.
however, to specifically address the scenario you are describing - if you use your pDEX keychain for everything, what you gain in speed you may lose in privacy. the extra confidential tx that is automatically executed when using a different keychain other than the pDEX keychain (e.g. Anon), ensures that your trades cannot be traced back to this main keychain.
when you move funds to pDEX just to trade, you are simply performing part of that multi-step process manually, which ultimately speeds up trade execution. it’s definitely inconvenient, but it also affords more privacy.
All 3 options have tradeoffs in terms of speed, privacy and ease. but when privacy v.2 is released (specifically one-time addresses), this will no longer matter. no matter which keychain you trade from, you will have full anonymity (including amount and asset type). trades will also be much faster, and there will be no need to have a pDEX keychain at all.
we expect for this to go live on the testnet in feb, after which we will be able to give a more detailed estimate for the mainnet launch.
hope that helps!
This sounds awesome
I have a question, so if it won’t matter which keychain I trade from:
What’s gonna happen instead of the multi-step process? I have read the Privacy v.2 post but I’m not sure if I did totally get it. I would love a “Explain me like I’m 3” if that’s not much to ask
Good to know, would have been great if we would have known that before So there is now privacy in the pDEX chain at all? Why no one has mentioned this ever before? Did I miss that information somehow?
hey sato, i’m not sure if you mean ‘now’ or ‘no’, so let me try to tackle both.
when you trade 1 pBTC for 40,000 pDAI on pDEX, a few things happen, including burning and minting. 1 pBTC is burned, and 40,000 pDAI is minted. burn/mint transactions differ from normal transactions, and are visible on incognito. that’s part of the reason why the current flow involves a number of intermediary addresses (including the pDEX keychain), which obscures the trail.
regarding privacy on pDEX, you can refer to the mainnet explorer (metadata field) to see what is visible. here’s an example. in addition, amount and asset type are always visible - that’s how incscan derives its data, for example.
in privacy v.2 (one-time addresses and confidential assets), here’s how normal, burn, and mint transactions will work:
- normal: hide sender, receiver, amount, asset type (token)
- burn: hide sender (ring signature)
- mint: hide receiver (send to OTA)
that means pDEX transactions cannot be linked to the traders involved, from whichever keychain they decide to use.
let me try! this won’t go into detail, but the rough mechanism is as follows:
privacy v.1 (pDEX transactions now):
let’s say you want to send me a box of caramels via messenger pigeon in exchange for a box of chocolates. if someone watching my house can recognize this pigeon as yours, they will know you are sending me caramels. so for you to be private, you have to get your pigeon to secretly pass the caramels to another pigeon that no one knows is yours. when I send you chocolates in exchange, this also requires multiple pigeons, so it takes longer for me to get my caramels, and longer for you to get your chocolates.
ELI8 note: this pigeon parade only applies to pDEX transactions (mint/burn) - see my explanation to sato above. for normal transactions, a cloud of pigeons fly together, so no one can see which pigeon is actually carrying the candy. when you send funds from Anon to pDEX in order to trade (whether manually or automatically), this is a normal transaction. So you get added privacy thanks to the cloud of decoy pigeons.
privacy v.2 (upcoming):
now we both have unlimited numbers of messenger pigeons at our disposal, and unlimited numbers of houses. one-use pigeons are deployed to/from one-use houses every time we want to swap caramels for chocolates. so we don’t need to wait for pigeons to pass each other candy, and no one will be able to guess who is sending candy, or receiving candy.
now sub out caramels and chocolate for crypto (almost as tasty), pigeons for sender addresses, and houses for receiving addresses. when you trade on pDEX, you play the role of both sender and receiver: send caramels, receive chocolates for example. none of this can be traced to you - and the whole process is much faster.
i hope that helps a little!
I’m not sure if you’ve seen this as you linked to a separate privacy v.2 topic, but just in case, here’s some further reading specific to one-time addresses and pDEX.
I’ll never be able use Incognito again without thinking about pigeons in the cloud, parades and flight-proven caramels.
Post of the month!
Omg I loved it haha this is exactly what I needed thank you so much for this incredibly cute explanation .
Also I agree with @Mike_Wagner this is definitely post of the month .