ChronoBank — roadmap update
With ChronoMint launched and LaborX in internal testing, we’re well on track to meet our roadmap’s key milestones.
Since our last roadmap update, back in July, we’ve been hard at work building the next stages of the ChronoBank ecosystem. The key developments since then have been the launch of ChronoMint, which offers diverse functionality for our own platform and the wider Ethereum and crypto world, and the progress we’ve made on the LaborX exchange.
With LaborX now in internal testing, we’re confident that we’ll soon be able to launch a secure, user-friendly decentralised exchange.
The idea behind LaborX is to have a fast, secure labour hire market, built on the blockchain. Whilst its primary function is to pair businesses with providers of work, it will ultimately become a fully-fledged decentralised exchange, so that ChronoBank stakeholders (workers, businesses, tokenholders) will always have somewhere to trade their tokens.
You can read more about LaborX in our recent blog post, but suffice to say we’re very excited about the potential for this element of the project, as well as the upgrades coming to the Ethereum network that will make the exchange stronger.
ChronoMint
Linked to the development and launch of LaborX is ChronoMint. This is our flagship wallet and token management app. It’s a powerful piece of software, with some ground-breaking functionality for Ethereum, and it provides the fundamental tools that will enable the future development and integration of LaborX. For example, ChronoMint has all the asset management functionality that businesses and end users will need to use our system.
The scope of ChronoMint is significantly more extensive than originally conceived, when we were refining our concept at the pre-ICO stage. We’re very pleased it has developed in that direction, for reasons that should become clear. Some of the features we’re launching include:
- Support for multiple currencies. You can keep not only TIME, ETH and any ERC20 token, but bitcoin and other major cryptocoins in your ChronoWallet. We believe a useful multi-wallet, which spans blockchains, is a huge benefit to the crypto world.
- Asset management. As well as sending, securely storing and receiving tokens, you can issue your own ERC20 token. This is a big deal, because it makes Ethereum’s advanced functionality available to the whole community — not just the few who are capable of programming smart contracts. By packaging it this way, we are the first to do something really unique and helpful for businesses and individuals who want to launch their own tokens.
- Multi-sig. News of the recent Parity bug has reinforced the need and importance of reliable multi-sig functionality. Our own implementation has been created from scratch, extensively tested internally, professionally audited and then released to the community for further feedback. At this point, the community desperately needs confidence that multi-sig contracts will act as intended, without compromising their funds in one way or another.
- Two-factor authentication. We are keen to build in as many safeguards as possible, making our wallet as attractive as possible to mainstream users. Two-factor authentication is taken for granted in many mainstream applications, and we want to make this available for the ChronoWallet too.
You can find out more about how ChronoMint works in this post.
For all latest updates:
TIME is trading on the following exchanges:
https://coinmarketcap.com/assets/chronobank/#markets
It is also available via Changelly service.
