Chapter 1: Technical Developments

In the past fortnight, the CoinXP engineering team, led by Chief Architect Weijia, focused on enhancing the integration of continuous integration (CI) and continuous deployment (CD) processes. We phased out the previous version of EOS smart contract unit tests, which demanded significant manual configuration and required an older EOS build than version 1.2. After evaluating modern testing workflows for EOS smart contracts, we implemented EosFactory alongside a Python testing framework. Each testing suite operates on a dedicated private EOS blockchain, where accounts and contracts are deployed as necessary. Unit tests interact with this private EOS blockchain through Python APIs. Additionally, we set up Travis in GitHub, enabling automatic execution of unit tests with reports generated for every pull request.

A pre-mainnet launch version of CoinXP has been completed and deployed within our Chinese cluster. This cluster is currently undergoing stability testing for the new code version. We plan to run this version for a few weeks to ensure comprehensive testing before rolling it out to a broader audience. Concurrently, we are implementing minor features and addressing bugs as they arise. Significant efforts are also underway to support a simulated cryptocurrency trading competition, which will be elaborated upon in future newsletters.

Section 1.1: Research Insights

During this period, our research team, led by Wuwei, delved into the well-known oracle problem, a critical issue associated with cross-chain communications. This challenge is vital for facilitating the exchange of various cryptocurrencies, including Bitcoin and Ethereum. An oracle serves as a conduit for external data to blockchains, functioning as a mediator between blockchains and the external environment. The integrity of oracles is paramount, as inaccurate data can lead to erroneous outcomes. If oracles are compromised, the decentralized and trustless nature of blockchain technology is undermined. Thus, addressing the integrity of external data provided by oracles is central to solving the oracle problem, which many regard as a major hurdle for the mainstream acceptance of blockchain technologies.

Despite being widely adopted by numerous centralized exchanges, centralized oracles necessitate blind trust in a single provider, which is not an ideal solution. A more promising approach involves decentralized oracles that utilize the consensus mechanism inherent in blockchain technology. Trustworthiness in external data is established only when multiple oracles agree. Typically, oracles must stake their reputation and assets to offer data, facing penalties for dishonesty and earning rewards for truthful contributions. This consensus approach is embraced by various projects such as Augur, Gnosis, ChainLink, and OracleChain, and aligns seamlessly with the DPOS consensus mechanism of CoinXP's mainchain.

However, this method has its limitations, as it relies on game theory to deter dishonesty among oracles. While a particular incentive structure may be effective in one scenario, it may not translate well to others, making it hard to establish a universal solution. Alternatively, Oraclize has proposed using a technology called TLSNotary to ensure data integrity through cryptographic proof, which mitigates the collusion risks associated with decentralized oracles. Unfortunately, this technology is currently limited to specific data sources, such as web pages. Therefore, the best approach to the oracle problem may involve a hybrid model that combines decentralized oracles with effective incentive structures and cryptographic proof-based solutions.

Subsection 1.1.1: Upcoming Video Content

Chapter 2: Community Engagement

On December 28, 2018, CoinXP participated in the Blockchain Alumni Association event, organized by LinkVC, Node Capital, and Beike PR, as one of LinkVC's venture portfolios. This Friday, January 25th, the CoinXP Beijing team will host an annual dinner, reflecting on the achievements of 2018 and sharing aspirations for 2019. Community members interested in joining the celebration in Beijing are encouraged to connect via our Telegram group, as seating is limited.

This first video discusses the urgency of buying Bitcoin before a significant market surge, highlighting the potential for a massive price increase.

The second video examines the recent flash crash in the cryptocurrency market, particularly focusing on altcoins and questioning whether this downturn signifies the end of the current market cycle.

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Testnet Demo by CTO Hua CHEN in EN: