Creditbit Announces the second Phase of DAO Testing

The Creditbit project is in the final stages of development under the second development roadmap. All the innovative yet ambitious sub-projects being undertaken by the dev team are not far from actualization. The dev team is almost done with the major developments and is either in the final stages of testing or launching them.

The latest update on Bitcoin Talk by the dev team gives a development status report of the soon to be launched CreditDAO. According to the update, the dev team has successfully ended the first phase of CreditDAO testing.

The team is now preparing for the second round of testing. In this phase of testing, the team we will send the code to outside reviewer. The dev team is doing its best to make sure that there will be no problems with CreditDAO funds. The Contracts will be deployed on the main Ethereum Network shortly thereafter.

The three proposal implementations to look forward to in the DAO deployment:

– proposal to establish a new position/title within Executive Board,
– proposal to cancel a position/title within Executive Board,
– proposal for no confidence for the already elected members of Executive Board

The deployment of SC on Main Ethereum Network will be followed by the following steps:

– preparing Dapp for more convenient interaction with DAO contracts, enabling all members to candidate and vote in a simple and straightforward way,
– claiming and locking tokens for the development and DAO Funds,
– publishing step-by-step instructions on the voting mechanism and overview of DAO structure.

The dev team also thanked the community for its patience as the process took a little longer than expected. The reason behind this was that the dev team wanted to make sure that users’ funds on the DAO will be as hack-proof as possible.

The dev team will be working on launching CreditDAO, CreditFUND, CreditDAOBoard and CreditDAOCommons in the second half of this week. The election process will also be triggered immediately following this, making it for an exciting week for Creditbit.

Finally, as announced in a previous post, the dev team will soon push forward the CreditGAME contracts following the deployment of CreditDAO and DAPP.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

Source: Newsbtc