November Development Updates
“November this year saw some of us attend Devcon, this year taking place in beautiful Bangkok, Thailand. Devcon is the largest Ethereum developers conference bringing together developers, blockchain investors, enthusiasts from all over the world. Devcon features back-to-back workshops, panels and talks on topics as diverse as:
- Security
- Account abstraction
- Intent-based architectures
- Wallet infrastructure
- UX
- AI
Account abstraction — and chain abstraction — were both prevalent themes at
this year, showcasing rapid adoption across the Ethereum ecosystem. It’s great to see the advances made in both account abstraction and wallet UX in general — signs of a maturing industry for sure.
Providing a safe, reliable experience for Common Wealth users is our priority. We see many opportunities in modular account abstraction, including — one day — seamless multi-chain operations. While it is early days for Account abstraction there’s no clear standard yet for account abstraction and at varying levels of implementation — there’s no doubt that smarter, easier-to-use wallets, batch transactions, gasless transactions, account recovery and easier onboarding are the future of web3 and essential to onboarding the masses. And here, we are plotting our own moves.
And while intent-based architectures currently exist more in concept than in implementation they hold some promise in streamlining blockchain transactions so let’s watch this space as it matures. Personally speaking, I’m struggling to see how these architectures will be more secure (at least two more middlemen in the mix…) and cheaper (…each of which takes a cut per tx) but let’s see what emerges.
Kinda glad to see that despite all the overblown AI hype, there’s a relatively modest AI focus at the conference this year.
We also attended a few region-based sessions focussing on Africa and LATAM. 2.5 billion people today live on less than 50c per day. Onboarding the global majority and providing equal access and opportunity for everyone regardless of where they are from is key to @joincommonwlth ‘s mission.” — @tonykelly
Funds Update
Development of our forthcoming decentralised ETFs (dETFs) is almost complete and testing is well underway. The dETFs are aimed at a retail audience keen to get exposure to the cryptocurrency craze but without the hassle of juggling multiple wallets on multiple chains and all the bridging (and fees!) that entails. Development of such an innovative product has not been without its challenges and we will be doing a blog post on their development sometime around their release which is expected in the next week or two.
Bug fixes
We pushed fixes for a couple of Marketplace bugs this month — and finally extended the session duration while in-app. The default duration of one hour will now automatically extend if you carry out any activity during the hour.
Evolution from Beta to v1.0
Lastly, we have started into what will be a major overhaul of the UI and user experience. It will likely be a couple of months before you get to see anything — but we are already excited by the early direction we are taking.
In the interim, we are continuing to evolve from Beta to v1.0 and over the next two months or so you will see updates to Fund cards, Portfolio, Slices, Profile and Manage Wallets.
The rewards program rollouts, postponed in favour of the dETF development, will resume shortly and soon in Profile > Rewards you should be able to see your XP rewards for Beta Testing rewards program, Onboarding program, Marketplace listings/promo and Voting/governance.
We do not yet have a date of when these XP rewards will be redeemable for $WLTH but keep an eye out for announcements early in the new year.
User Referral Program
The user referrals program will also release sometime in December with generous $WLTH rewards going to both the referrer and referee.
