Omni Development Roadmap

This has been a busy few months, with the team’s efforts dedicated to enhancements to the platform and assisting in Omni integrations with partners and other interesting projects.

The most recent release of Omni Wallet Desktop for Windows capped off a strong development cycle, adding Send-to-Owners capability and a QT user interface (for 64-bit Windows and Linux. Mac OS X build forthcoming).

Our forward looking roadmap, as discussed and agreed upon with the team during our most recent all-hands, is as follows:

1. Continue top priority of stability/reliability above all else.
2. The move to Class C (80-Byte OP_RETURN) for most transactions.
3. Bitcoin Core 0.10 headers-first blockchain compatibility
4. Technical debt (multi-packet transactions, useful RPC commands not yet implemented, etc.)
5. Decentralized Exchange phase II RPC (trade between Omni assets and MSC)
6. Decentralized Exchange phase II UI
7. Omniwallet.org redesign launch
8. Address anchoring for metadata
9. Futures market DEx extension
10. Spec and Documentation improvements

Leveraging Sean’s automated testing suites, the 0.0.9.1 release was the most thoroughly tested yet. The team believes strongly that stability and reliability should remain our highest priority.

Zathras has completed a good portion of the Class C transaction work, and is currently refactoring the Class B code for the few cases where Class B transactions will be required (as they won’t fit into 80 bytes).

DexX has made substantial progress on a Bitcoin Core 0.10-based branch of Omni Core.

Technical debt includes the ability for Omni Core to broadcast multi-packet transactions, output raw transactions, include RPC commands for supported and active features such as dynamic asset issuance and the decentralized exchange, high-decimal precision improvements, etc.

Michael’s work on phase II of the decentralized exchange is mostly complete, and Marv and Sean are preparing the test plans as the matching engine logic is finalized.

Thanks to Adam, Tomás and Warren, Omniwallet.org will be getting its new skin (currently at staging.omniwallet.org), dramatically improving user experience.

Working with Paul Snow, the Omni Layer will gain an “address anchoring” method, used by Factom, for ensuring the validity of eligible “publishers” of data on the blockchain.

Patrick and Dave have been working on an innovative futures market extension to the decentralized exchange, allowing advanced market features for Omni assets.

Through all of this, the team is assisting with around two integrations per week, and meeting with 8-12 additional projects, each at various stages, all coordinated by Judith.

We invite the community to provide feedback, to contribute to the development of new features, and to keep innovating on the Omni Layer. The team continues to move the platform forward, with the assistance of some amazing integration partners helping to create the future of finance.

It keeps getting better, and I’m still humbled by the capacity and talent of this team.  Keep up the great work!

Craig

Omni Development Roadmap

Official Release: Omni Wallet Desktop for Windows

After months of development and testing, the Omni development team is proud to announce the first official release of Omni Wallet Desktop for Windows, based off of Omni Core build 0.0.9.1 (which is in turn based off of Bitcoin Core 0.9.3).

https://github.com/mastercoin-MSC/mastercore/releases

Omni Wallet Desktop
Omni Wallet Desktop

As a first release, this is for more technical users (you need to edit a conf file) who wish to manage their Omni assets locally and provide feedback to the developers. Please report bugs using the issue tracker at GitHub: https://github.com/mastercoin-MSC/mastercore/issues

Omni Wallet Desktop Overview
Overview Screen, showing all BTC and Omni assets available in the wallet.
Omni Wallet Desktop Balances Screen
Balances Screen
Omni Wallet Desktop Send Screen
Send Screen
Omni Wallet Desktop Transaction History Screen
Transaction History

The software also contains several utility panes, allowing the user to look up the assets on an address, or get detailed information about an asset on the Omni Layer.

Omni Wallet Desktop Address Lookup
Address Lookup
Omni Wallet Desktop Asset Detail (Property Lookup)
Asset Detail (Property Lookup)

This release comes after substantial progress on new protocol features, such as Send-to-Owners (proportional distribution) and the new Decentralized Exchange (so that users can exchange their Omni assets against one another without an intermediary).  Send-to-Owners was released as part of 0.0.9, and DEx Phase II will be released as part of Omni Core 0.0.10.

The Mac OS X build of Omni Wallet Desktop will be available soon.

More and more projects are deploying their projects and assets on the Bitcoin Omni Layer, and this release of Omni Wallet Desktop for Windows opens the platform to users who wish to transact locally with their MSC, MaidSafeCoin, API Networks coin, CryptoNext Coin, La’Zooz, Synereo, HOPE Gold Coin, Tethers, and more.

Keep watching this space, as more and more integrations, assets and innovations are coming, and they are coming at an increasingly rapid pace. I would like to thank the Omni development team for their outstanding progress and efforts – it is a pleasure working with such a talented and driven group of innovators.

Craig Sellars
Technologist, Omni

Official Release: Omni Wallet Desktop for Windows

Omni: the next layer

Mastercoin Upgrades Premier Bitcoin Asset Layer, Relaunches as Omni
Original Bitcoin 2.0 Protocol Powers MaidSafe, Tether, Factom, La’Zooz and
35 More Cryptocurrency Tokens, Passes Counterparty in Market Cap of Assets

Core Developers Ready New Version of Omni Layer Asset Creation Platform, Omni Wallet Multi-Cryptocurrency Online Wallet, and Omni Exchange Decentralized Exchange, All to Launch in Q1 2015

(North American Bitcoin Conference, Miami – January 18, 2015) – Mastercoin (www.mastercoin.org), which created the Bitcoin 2.0 movement through the creation of the first overlay to the Bitcoin blockchain following the industry’s first crowdsale in August, 2013, announced today that it has substantially completed the development of the Omni Core engine behind the Omni Layer (formerly Master Protocol) and will rebrand all aspects of the Mastercoin ecosystem as Omni.

“This relaunch reflects both a change in the cryptocurrency asset landscape, with MaidSafe becoming a top 10 cryptocurrency overall, and the desire of the decentralized developer community that has grown up around these assets and protocols to become a unifying presence in the ongoing development of the blockchain for business,” said Craig Sellars, a technologist of the Omni Layer.

The Omni Layer is a protocol that sits on top of the Bitcoin blockchain, allowing the creation of assets that combine the unmatched network security and adoption rate of Bitcoin with enabling capabilities built into the Omni Layer which allow new assets like MaidSafe, Factom and Tether to create specific new uses cases like decentralized web services, data and records documentation, and a digitized traditional currency, respectively.

The Omni Layer is a decentralized community that was funded by the Mastercoin Foundation, which gathered support from the community totaling 4,700 bitcoins in August, 2013, and used these funds (including during times when bitcoin was valued at 4-5x today’s pricing) to fund hackathons and developer bounties. Two of the Foundation’s key projects, the Omni Wallet (the original use of the Omni brand by the Mastercoin community) and the decentralized exchange, will be completed by a new Omni Foundation, whose board members will be elected by the membership of the new Foundation.

Today the market values of token assets issued on the Omni Layer (including MaidSafe) exceed that of all Counterparty and other Bitcoin blockchain-issued assets combined.

About Omni
Omni (www.omnilayer.org) is the latest iteration of the Master Protocol, created in August, 2013, as the first bitcoin asset layer. As the original Bitcoin 2.0 entity, Omni has 18 months of development and its ecosystem includes a multi-currency wallet (Omni Wallet), which connects to a decentralized exchange (Omni Exchange). Omni is a global community of developers and entrepreneurs building the premium asset layer of Bitcoin as open-source software.

Omni: the next layer

Tag, you’re it!

With the recent v0.0.8.1 Master Core tag (build instructionssource and binary), we’re now way ahead of the game.

The Mastercoin Foundation is happy to announce the following major enhancements in the most recent build of Master Core, released yesterday: Secure Asset Issuances and Sends, Smart Property Adminstration and Pre-funded Simple Sends.  All live on Bitcoin mainnet.

As more and more companies and projects are considering crypto-asset issuances, we’ve worked to anticipate their needs and demands by adding security and management capability to assets created on the Master Protocol.  Serious issuers need serious control, and the community that accepts and uses these assets must know what the issuers can and will be able to do with their assets.  These new features not only build trust between issuers and users, but also provide a robust toolset that asset-backed issuers can leverage and rely upon for the security and flexibility of their assets.

Secure Asset Issuances
Using P2SH Multisig, Smart Property Asset Issuers can require multiple parties (M-of-N) to approve issuances and grants. This provides protection from a single compromised private key being abused, and will give users more comfort that asset issuers will maintain control of their asset.

Secure Sends
Multisig addresses are also now supported for receiving tokens, and conducting secure M-of-N sends to other recipients on the Bitcoin blockchain.

Smart Property Administration
On-demand grants and revokes of user-defined assets, allowing asset-backed tokens to regulate the number of tokens in circulation against their reserves of assets.

Asset ownership transfer (issuance rights, grant rights) allows the issuer to transfer their issuance and grant rights to another Bitcoin address (regular or multisig).

On testnet, we also have provided Send-to-Owners functionality, which allows an issuer to send a proportional amount of tokens to the holders of that token in a single transaction, based on the amount the holders have in their wallets at the time of transaction.  This allows for distribution of tokens on a proportional basis with a single Master Protocol transaction (and therefore a single Bitcoin miners fee, no matter the number of holders).

Optional pre-funded simple sends
Since all Bitcoin blockchain-based assets require some amount of BTC to be used on the network, we’ve added an optional attribute to Simple Sends to allow the sender to provide additional BTC to the recipient (so that the recipient can have BTC funds available for additional sends and other transactions).

Experimental User Interface (a high risk-tolerance required!)
While we won’t be distributing binaries of the Master Core user interface until next week, extremely aggressive and non-risk-averse testers are welcome to compile from source against the 0.0.8.1 build and play with the user interface in its current state.

While I hate to tease, I’m really excited about the progress of the UI, so here are some sneak peeks at the UI on each target platform:

Windows
Windows UI
OS X UI
OS X UI
Linux UI
Linux UI

Some other noteworthy additions to the 0.0.8.1 tag are better unconfirmed transaction support and better blockchain reorganization protection, not to mention additional RPC calls for retrieving information about transactions related to crowdsales and DEx purchases.

Omniwallet has also moved to the most recent tag and supports the new features.

Work began this week on a re-base to Bitcoin Core 0.9.3, which is going much smoother than one would anticipate from an important update in the Bitcoin reference client. Master Core tag 0.0.9 will be based on Bitcoin Core 0.9.3 (Master Core 0.0.8.1 is based on Bitcoin Core 0.9.2).

Next up are two major features that have been in high demand: MetaDEX (the meta-token decentralized exchange for all Master Protocol tokens) and Savings Addresses. As these get closer, we’ll have testnet RPCs and UIs to play with.

The pace is blistering over here in the blockchain – so many devs and so much code all building towards the most robust financial, contract and business logic platform on the Bitcoin blockchain.

Each day we add another group of integrators and innovators to the platform, and there are some major announcements in the wings.

If you have any questions, ask me anything. If you want to get involved, now’s the time – if you’ve been interested in developing an innovative new technology, or issuing your own smart property asset, the Master Protocol provides the tools you’re looking to leverage, and more is on the way.  If there are features you want to see, write ‘em up, send ‘em our way, or make a pull request against the Master Protocol Spec and we’ll get it into the queue.  Lots more coming, and community feedback is the driver!

Start your engines, masterminds!

Craig Sellars

CTO, MSC Foundation
craig (at) mastercoin.org

Tag, you’re it!

Technology Update: Tag and the Final Stretch

One of our primary goals at the Mastercoin Foundation is to provide innovative solutions for unsolved problems, and to suit what we build to the needs of those who wish to use it.

This past week was just that: what do those who are integrating Master Core need from the platform, and how can we provide that in a timely, robust manner? On Monday, the Foundation released version 0.0.7 of Master Core, which was promptly gobbled up and integrated by a variety of exchanges, asset issuers and payment processors for their upcoming Master Protocol launches.

In this release, we added p2sh multi-sig for sends and asset issuances, a new way to issue assets that provided more flexibility for issuers, and lowered the required Bitcoin transaction fees to 1/5th of where they were originally. Integrators and testers have been busy hammering against these features on Bitcoin Testnet and the Mastercoin Test Ecosystem in preparation for the full-fledged live ecosystem mainnet release next week.

A few notable enhancements that were provided were for two major projects that will be launching within the next few weeks, and laying the groundwork for other major projects that will be launched within the next few months. Those include multi-sig security and send-to-owners functionality, and firming up the spec for Savings Addresses while tidying up the remaining MetaDEx functionality.

Integrators have provided amazing feedback on how to revoke issued tokens elegantly, how to make it more opaque to the end-user that Bitcoin 2.0 projects are riding on top of bitcoins as they move across the blockchain, and what kind of administration needs that asset issuers need to properly manage their asset portfolio. Some of these things are protocol-level, while others are interface and presentation to the end-user.

The 0.0.7 release can be downloaded here for any and all wishing to play with the last sneak peek before the official launch next week.

The MetaDEx (meta-coin decentralized exchange) will be the next major feature in Master Core after next week’s launch, and professional traders have provided input on how best to interact with it, and Omniwallet is being prepped to provide an easy-to-use user interface for you and me.

A write-up on the merits and utility of the decentralized exchange is in the works, and the information such an exchange can provide with the assets planned for launch in the coming weeks will begin to demonstrate the power of decentralization and smart contracts.

The final touches on the Master Core UI will be completed this weekend, and a Bitcoin Core-based downloadable wallet will be made available for all Master Protocol users.

Master Core Send UI

As usual, the development teams at Mastercoin have been hard at work polishing and testing these features so that they can have the greatest impact upon release. We’re excited that we’re on the home stretch, and we know that you’ll be impressed with what is delivered.

If you see the potential and want to join the journey, we firmly believe the more masterminds the better. Everyone is always invited to contribute, so please feel free to ask me anything, and to get involved. We’re getting more and more interested parties such as developers, issuers and innovators each week as we build momentum for the future of digital financial platforms.  Come join us.

Craig Sellars

CTO, MSC Foundation

craig (at) mastercoin.org

Technology Update: Tag and the Final Stretch

Technology Update: Merge, Test and Boogie

To be the leader in Bitcoin-based financial platforms, you need adoption, and to get adoption, you need utility, features and ease of use. While we have a number of innovative projects being launched using the Master Protocol as it has been developed over the past year, we still need enhanced features, additional flexibility and robust security to the users.

A proposal for distributing application-level metadata in a global format has been proposed,
which if implemented would reduce the amount of metadata storage required for Smart Properties on the Bitcoin blockchain (and slimmer is better for the whole ecosystem). Please read this and provide comments.

Asset issuers have been asking for more control over the assets they create. Not only the ability to create assets on demand, but also the means to manage those assets, and transfer ownership of those assets. The learning curve on decentralized financial assets is pretty steep, we’re finding that people are now starting to “get it” – and the foundations that have been built are exactly what issuers need to build upon and make the next killer app.

The MetaDEx is getting closer to release, taking oodles of input from experts and making it beautifully simple to execute.

The Over-under

Prepping a new software release brings the contributors together to determine the best fit for new changes, discussion surrounding caveats and edge cases, and what the changes will impact going forward.

Next week we will release the next tagged release of Master Core for integrators, version 0.0.7.

This will be the last tagged release before we build and distribute the next beta of Master Core that will include the front-end user interface for the downloadable wallet (and, of course, multiple platform support). This tagged release is to provide integrators with the most up-to-date protocol enhancements and to make sure they will be ready for the users using the forthcoming beta.

The deep

In preparation for next week’s new tagged release of Master Core, this week the team has been busy merging in the remaining code and running unit tests and black box testing against the critical functions.

So far, we’ve tested and approved p2sh multi-sig and manual issuances after thorough testing on Bitcoin testnet. Re-org protection was merged yesterday and today (and throughout the weekend), we’ll be making sure that the daemon remains stable and accurate (as it has been up to now). The re-org protection allows Master Core to recover better from a blockchain re-org, whereas the prior builds provided a warning to the user, but did not automatically reparse.

A side-refactoring of the file structure of the code was also made yesterday to allow for smoother merges of new features in the future.

The skinny

Omniwallet got some major updates this week, and over the weekend will be getting even more, related to Master Core integration, the new database backend, and front-end UI updates. Part of getting the new builds of Master Core out have been to assist in getting the old underpinnings of Omniwallet removed and replaced with the reference client. The same is happening for masterchest.info, which by next week will also be running against Master Core. All of this in preparation for new asset types, faster and more responsive services and more detailed data to be presented to the end-user.

Next week integrators get a lot. Shortly thereafter, the UI will be ready, and everyone will be able to see it.

See areas of improvement? Have any questions? The more masterminds the better! Join the project. Ask me anything!

Craig Sellars

CTO, MSC Foundation

craig (at) mastercoin.org

Technology Update: Merge, Test and Boogie

Technology Update: Sleep when you’re dead.

It’s been another frenetic and massively productive week in the Mastermind world, with new features flying in to the codebase faster than we’ve seen before.

This week we’ve pulled in more RPC updates, interface updates, manual (unlocked) issuance of assets (grant, revoke), p2sh multi-sig, and additional re-org protection – and that’s just in Master Core. No less than four third-party integrators (exchanges and wallets) have begun tying Master Core into their backend systems this week, and next week is going to be a frenzy of testing, building, testing, packaging and testing.

Two of the groups who are white-labeling Omniwallet have also provided some exceptional feedback and contributions in terms of scalability, security and interface, and the community that is growing around the Master Protocol is finally beginning to see the capabilities that are about to be unleashed.

On the testing front, we’ve updated our spock engine to allow for more automated tests on commit and builds, working through “cumulative hashes” that allow all clients to know that the balances they are using are the same as all other clients.

For Omniwallet, we’re soliciting feedback from users in our “What’s in Our Wallet” survey (which, if you haven’t yet, submit your thoughts – it will guide the future direction of Omni), populated the OmniEngine backend database, added logic processing from DEx payments, and begin integrating the new front-end API.

QA and testing were hot on the plate this week, as we welcome a new team member who will be focused on test plans and quality assurance.

Exciting new ideas are being pumped into the spec on an almost daily basis: smart property administration, futures contracts, ways to decrease transaction fees, and minimizing the blockchain storage requirements of Master Protocol transactions.

The Master Core UI is getting closer to release, as well; below can be seen the Balances tab:

Balances
All in all, the team has been working around the clock, continuing to knock the socks off anyone in the general vicinity. As an old colleague once told me, when referring to working non-stop: “you can sleep when you’re dead.”  Our next release will be coming soon, and with it the results of months of non-stop effort will be shared with the world.  

As always, we solicit and invite contributors to come and comment, critique or contribute. The more masterminds the better. Ask me anything, and keep your eyes peeled for what’s coming.

Craig Sellars

CTO, Mastercoin Foundation

craig (at) mastercoin.org

Technology Update: Sleep when you’re dead.