This is the first instalment of the SageCity monthly development update. Throughout April we’ve had some really positive developments and more yet to come. Here is a roundup.
SageCity Network is Live
The biggest development update in the past month is that the SageCity network is live! I’d like to use this opportunity to give a big thanks to our lead developer Bacem. His work in the lead up to launch was crucial. We wouldn’t have completed it on time without him. The network has been operating smoothly and is steadily growing. It has over 150,000 blocks processed so far.
Our first sidechain framework tools are now available at our github. We adapted the plasma protocol. It's a very exciting development because it provides the foundation for our products and solutions. It will also allow us to deliver quick and low-cost transactions (see the Explorer here). Recently, we also carried out the first sidechain transaction on the SageCity platform. Keep reading on to find out about our first enterprise-ready sidechain product.
At the network launch, our wallet consisted of a minimal SAGE wallet for Windows OS. But in the recent weeks we have improved the GUI and the installation process to the point where its click and play. We’ve also rolled out wallets for macOS today which you can download here.
Next Steps Ahead
We're currently approaching completion of V1 of the SAGE mobile wallets. These will let you connect to the SAGE network on the go. We're looking for 10 beta testers who will each receive 5 SAGE for their help. Please contact us if you wish to be one of the lucky 10!
Internal Payments System (IPS)
We have began development of our first enterprise-ready sidechain product. We've called it: Internal Payment System (IPS). So far, we've signed two clients up for testing and further implementation into their systems.
IPS is an infrastructure tool which allows for immutable tracking and management of a user's assets and data. This is primarily used for financial balances. Enterprises using IPS can accurately distinguish users and their financial resources. With our sidechain technology and network, this can be made securely and at low-cost. IPS works together with payment processors by tracking payments received into a user's account and assigning them representative tokens for that payment.
This opens up opportunities for enterprises to limit the frequency of chargeable events and interactions that payment processors can take advantage of. On top of this, enterprises have real-time analytics of user activity. This is also a scalable foundation to further use blockchain technology.
In the next few weeks we'll be doing an in-depth article on IPS. We'll talk about its use case and impact it can make within certain industries.