OpenChat as a thriving SNS DAO, technical roadmap for ETH integration, exciting community demo of AirGap wallet, and more, here are the highlights of the March 2023 Global R&D Conference.



OpenChat: Successful SNS DAO launch

On March 3, 2023, OpenChat was successfully handed over to SNS DAO.

What does this mean? It means that OpenChat is now fully assigned to and controlled by the SNS DAO, which takes over the traditional role of the company.

There is no CEO, no board of directors or developer control, just thousands of community members whose wishes are mediated through digital democratic algorithms.

How was it created? An initial “decentralized swap” exchanged the new SNS DAO’s governance tokens for ICP, and these OpenChat tokens are now held in its treasury under the decentralized control of its governance community.

The following is a breakdown of the tokens allocated at Genesis:



Some of the advantages of OpenChat launching an SNS include another layer of decentralization, tokenization, and financing. Through decentralized governance, users are now co-owners and the dapp’s services are designed to serve the best interests of the community.

Tokenization allows for growth through ongoing algorithmic user and referral rewards, and as groups of advocates begin to form, the ability to reward contributors will in turn spark organic growth — a phenomenon that has the potential to spark viral network effects.

Fundraising through the initial decentralized swap provided financial support for the chat service, increased liquidity on the exchange, and allowed for expansion of the team.

Since its launch, three key proposals have been published to improve the user experience.



FederItaly, ORIGYN and DFINITY

From Parmigiano Reggiano to Barolo wines and some of the world’s finest luxury brands, the “100% Made in Italy” label is synonymous with high-quality, handcrafted products that are crafted with meticulous attention to detail.

However, counterfeiting and the “Italian sound” have been issues that continue to damage the economy and the reputation of these authentic products around the world, and blockchain technology offers the ideal solution to stop counterfeiting of handicrafts and luxury goods.

To create the “100% Made in Italy” label, the DFINITY Foundation, the ORIGYN Foundation and the FEDERITALY have collaborated to offer a revolutionary solution that certifies the authenticity and origin of Made in Italy products using tamper-proof certification.



ETH <> ICP

While the Ethereum network is currently the world’s largest smart contract blockchain in terms of market capitalization, TVL, and daily DeFi transaction volume, it has many pain points, such as expensive gas fees and limited scalability, which have delayed DeFi adoption and created major obstacles for developers.

With its inverse gas model and the ability to scale and execute at high speeds, the Internet Computer is able to pioneer a multi-chain approach that will allow new and inexperienced users to enjoy the full utility benefits of ETH.

The roadmap for integrating the Internet Computer with the Ethereum network has been announced and will be rolled out in two phases:

  • Phase 1: Implementation in a dapp with basic functionality, using HTTPS to call a cloud API provider;

  • Phase 2: Trustless integration at the protocol level, smooth migration from Phase 1.

The ICP DeFi community has achieved Phase 1, and the DFINITY engineering team and ICP community members will continue to collaborate to improve Phase 1 and launch Phase 2.



ckBTC is online

Based on community debate on how best to incorporate KYT checks into the ckBTC transaction flow, three separate proposals were submitted to install the Chainanalysis KYT container, add the first API key provider and upgrade the ckBTC minter container to allow BTC > ckBTC conversions, use the KYT container and reduce the required confirmations to 12.

Since the global development meeting, proposals (115468, 115470, and 115473) have been adopted with flying colors, and ckBTC is now live.



Response Validation v2

Response Validation Version 2 introduces new authentication capabilities for asset containers and the HTTP Gateway Protocol. Features like redirection, translation of content or caching can now be implemented in an authenticatable way without using update calls. Check out the announcement in the ICP Developer Forum for more details.



Demo

Community Demo: AirGap Wallet

AirGap is a software wallet that turns a spare phone into a hardware wallet, and it does this by using two apps, AirGap Vault and AirGap Wallet.

These can be downloaded from the Appstore, Google Playstore or directly from the APK, watch the demo and read the blog to understand how it works.

Canister Timers

Unlike other blockchains, the Internet Computer can automatically execute container smart contracts after a specified delay or at regular intervals. Read more about the new Canister Timers feature, its status, and availability.

We hope you enjoyed this recap, and if you missed the last Global R&D Conference or want to watch it again, please watch the full replay video at the beginning of this article.



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