Development Update #3

HYVE

Mar 21, 2022 • 4 min read

It hasn’t been long since our last development update, nevertheless, since HYVE is always looking for continuous improvements, we have decided to launch regular articles tracking our progress. In the past month, we released our second development update, however, as you might have noticed, we also deployed on the Polygon network, meaning that there have been lots of changes implemented both in front and back-end, which we will lay out here.

Polygon

Tasks, jobs, and offers can now be posted on the Polygon blockchain. In addition, payment in $MATIC is now allowed on the platform. This increased adoption of different blockchains has proven the unicity of our platform while enabling the availability of various cryptocurrencies for payment.

By completing our multichain architecture, HYVE is now able to easily add new EVM compatible blockchains. As we are aiming for both decentralization and increased performance, we have adopted a semi-DApp approach to our backend architecture. We have introduced a blockchain tx aggregator microservice, that detects and caches all blockchains simultaneously, permitting faster load times for the website.

Every blockchain-related action that users want to perform will be registered in the database as an intent, with front-end displaying the “Blockchain pending” message. In addition, front-end will detect whether a user’s wallet is on the correct network when performing an action. Alternatively, a switch network action will be performed, with the user required to confirm the transaction on the correct network. The “Blockchain synced” message will be displayed on the front-end following this process.

Infrastructure improvements

Our new codebase will improve the scalability of the ecosystem, by using an orchestrated containers approach. Furthermore, three automated testing directions have been added:

UNIT TESTS: 100+ automated tests are automatically run at every new feature deploy
FUNCTIONAL TESTS: 73 automated functional tests are run automatically at every new feature
INTEGRATION TESTS: end-to-end manual testing procedure has been completed via a series of staging servers and better organization inside the development team

In addition, we have performed several changes which have improved:

the general performance of the website
data models for our central backend, to ease up the process of adding new features in the future

Since we are always focused on security, we successfully ran the process of penetration testing. Our infrastructure has passed most of the tests, and when vulnerabilities were found, the PENTEST team documented them and provided solutions.

Collaboration is central to HYVE, thus, we have added two different features when clicking on somebody's profile. Consequently, next to the "User Information" section, we have enabled two new buttons, to check out either "Freelancer" or "Client Activity".

Lastly, we have facilitated the process of having cross-chain administrators. Thus, it is possible now to provide full blockchain-agnostic platform moderation. This enables an administrator interface for the HYVE platform, allowing for full moderation, meaning that tasks, jobs, and offers that are not considered suitable or do not respect the general terms.

Staking

We have also added an improved feature to our staking process, namely Claim before Unstake. Currently, only the back-end is implemented in the blockchain, meaning that this feature will go live in the near future. What does this mean for users? When deciding to initially stake, users can choose the option, for the respective staking pool. The updated staking interface is not currently live but will be in no time. You should note that this option cannot be changed afterward, but you can create a new staking pool and select your preferences.

Claim before Unstake provides users with the option of earning monthly passive income. Every single month, the rewards obtained from staking are sent back to the user, allowing them to use their $HYVE token in any way they desire.

Next steps

In terms of staking, we are currently improving our approach in implementing Autocompound, which will allow users to redeposit monthly rewards back into the staking pool. Thus, it maximizes potential earnings and reduces both gas fees and time when harvesting and restaking rewards.

Autocompounding will occur once a month, respectively, on the 9th. Similarly to Claim before Unstake, you should note that selecting this option will only be possible when creating a new staking pool and cannot be changed later.

HYVE is always in the process of continuous improvement, as we mentioned that our top priority is further adoption of the platform, by attracting more users, increasing the number of supported blockchains as well as diversifying payment options. Thus, we are now working on implementing a referral system, in which users are rewarded based on the number of friends they get to sign up on the platform.

We are currently working on a new chain integration, which should be implemented in the next couple of weeks. Moreover, we will automate the addition of new payment options, with a surprise prepared next week.

We’ve got loads of changes in store for you - you might have seen a couple of sneak peeks into our new website and platform overhaul. Plus, we want to optimize our platform for mobile and add a new way for authentication through Open Login, so you should definitely be on the lookout in the next couple of weeks!

Polygon

Infrastructure improvements

Staking

Next steps

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