DREP Bi-Weekly Report 10.16–10.31 | DREP public chain algorithm improved, Blockchain Explorer optimized testnet functionality, DREP Mainnet 2.0 will be launched soon

DREP Foundation
4 min readNov 2, 2020

Dear DREPers:

In the second half of October, DREP focused on the ecological development of DREP.

In terms of technical products, DREP public chain is improving algorithm of nodes’ block generation. DREP team added a mechanism to execute automatic replacement of null block generation nodes, preventing unstable block generation. DREP team also improved algorithm of p2p communication, not replying to incorrect messages and cutting down communication among nodes, and thus increasing connection stability. DREP explorer continues improving functionality of testnet to apply test coins, making it more convenient for developers to test various on-chain functions.

In terms of ecosystem, DREP had decided to implement the second phase of Buyback & Lock program in the 4th quarter of 2020. This involves the purchase of approximately 150 million tokens from the secondary market. Concurrently, DREP team will release details about market expansion plans in the near future, along with updates on mainnet. What’s more, on 6:00pm (GMT+8) October 28, DREP cofounders held an AMA in the English community. On the AMA, DREP cofounders Momo and Xiaolong shared major achievements and updates in project technology and market expansion plans, and announced big news including that DREP Mainnet 2.0 will be launched soon.

Technology

In terms of technical products, DREP public chain is improving algorithm of nodes’ block generation. DREP team added a mechanism to execute automatic replacement of null block generation nodes, preventing unstable block generation. DREP team also improved algorithm of p2p communication, not replying to incorrect messages and cutting down communication among nodes, and thus increasing connection stability. DREP explorer continues improving functionality of testnet to apply test coins, making it more convenient for developers to test various on-chain functions.

Public chain development

  • Improving algorithm of nodes’ block generation; adding a mechanism to execute automatic replacement of null block generation nodes, preventing unstable block generation.
  • Improving algorithm of p2p communication, not replying to incorrect messages and cutting down communication among nodes, and thus increasing connection stability.

Development of the DREP product line

DREP explorer

  • Improving functionality of testnet to apply test coins

Ecosystem

In terms of ecosystem, DREP had decided to implement the second phase of Buyback & Lock program in the 4th quarter of 2020. This involves the purchase of approximately 150 million tokens from the secondary market. Concurrently, DREP team will release details about market expansion plans in the near future, along with updates on mainnet. What’s more, on 6:00pm (GMT+8) October 28, DREP cofounders held an AMA in the English community. On the AMA, DREP cofounders Momo and Xiaolong shared major achievements and updates in project technology and market expansion plans, and announced big news including that DREP Mainnet 2.0 will be launched soon.

Launch of 2nd Buyback & Lock Program by DREP Foundation

As we head towards the start of 4Q 2020, the DREP team has achieved good progress in product development. To further boost our trajectory of our ecosystem development, we had decided to implement the second phase of our Buyback & Lock program in the 4th quarter of 2020. This involves the purchase of approximately 150 million tokens from the secondary market, together along with the first buyback program of 159 million tokens, total market circulation will be reduced by 10%. Concurrently, we will release details about our marketing and market expansion plans in the near future, along with updates on our mainnet. The DREP team is actively managing both inflationary and deflationary aspects of token circulation. We hoped that as a result of these initiatives, it will help boost the network value and market confidence for our supporters.

The DREP Unique Strategy in the Second Half of Defi Craze

As we head into the end of the year, the decentralized finance game has rapidly matured. The trend of Defi has cooled down, and cooler heads prevail. Right now, what we really need is something that rises above, that really solves users’ pain points in a real life scenario. The DREP Foundation has conducted numerous researches about popular Defi projects and delved into the secret ingredients that made them successful. And, DREP Team has optimized and improved our existing public chain technology to make docking and transition to the Defi ecosystem much easier.

The above is the DREP team’s second bi-weekly report for October 2020, and DREP will continue to work hard to further advance DREP’s technical and ecological development according to the planned roadmap to achieve more ground-breaking applications. Thanks to the members of the DREP community for their attention and support!

Reach us on social channels

Website — www.drep.org

Telegram — https://t.me/drep_foundation

Twitter — https://twitter.com/DrepOfficial

Reddit — www.reddit.com/user/DREP-FOUNDATION/

Medium — medium.com/@DREP_Foundation

Linkedln — www.linkedin.com/company/drep-foundation/

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DREP Foundation

DREP 2.0 is the decentralized credit-data middleware based on layer-2 facilities, to be the backbone of DeFi Credit Era.