Posted by Spock on June 4, 2019

Wen Binance? Wen Mainnet?
One of these questions is answered easily, the other, not so.
Let’s start with the not so easy one: ‘Wen Binance’ – we all know the application is in, what we don’t know is when they will get to it.

Now for the other question:

We have always aimed to have our development completed and mainnet ready for the end of June 2019. This has been one of our many goals and we have achieved most of our goals this year and some we have exceeded.

The mainnet goal is one that we will – in terms of development – meet, however it seems we underestimated the time required for the security audit. Now as many of you will know, auditing code is never quick and easy nor is it ever cheap. We have for example one quote that is saying longer than 3 months and well in excess of $150 000 USD. We also have a few that is shorter and more expensive or longer and cheaper.

Whilst we will be done with development shortly and we would’ve been ready to launch, we cannot and will not launch mainnet without the audit. The audit is a requirement for us, for exchanges and is also a sign to the community that we do what we say we are going to do.

There are going to be people who say: “Why not just release the code and then get the audit done?”

The answer to this is simple: The minute mainnet is released, the chain starts. If there is some issue with the blockchain core code or the consensus mechanisms or the cryptography, it means that when the issue is fixed; a chain reset will be required.

Now can you imagine all those happy people who bought DAPS Coins being told that we need to reset the chain? They’d be furious!

We won’t do this to our community. It would be irresponsible.

The team can’t release the names of the companies who are quoting due to NDA requirements. We will release the name of the company who did the audit upon the audit completion. Please know that we approached top security audit companies in the industry to quote for the audit as this is one final part of DAPS as a product that is vital to our success.

We are going to continue to negotiate and get quotes for the audit in an attempt to balance the timeframe and budget as best possible as any good organization would.

When will mainnet be released? We are aiming to release no later than Q3 2019. We will keep you updated on this timeline regularly.

We apologise for the short delay but trust that you can understand the reason why. Kudos to our development team who is on time with code delivery for end of June. This is a huge achievement!

We will be doing a press release shortly revealing who built the DAPS chain for us over the last 9 months so we all can give them a big virtual high five!