Coreto Platform Development – January 2021 Update

Hello everyone,

The holiday season has come and gone, and here we are, bringing you a new development update.

As you probably remember, our December update was a very exciting one, giving you a first glance at what to expect from the ALPHA version of the Coreto platform.

Our first milestone was about getting things off the ground and building the core of the platform, with things like how things will look, feel and basic functionality like deposits, withdrawals and other blockchain-related interactions.

Our second one was about consolidation. Finishing, refining and reinforcing the core of the platform.

So let’s get right into it.

Part one: The Backend

With the basic functionality done and solid security in place, we’ve focused on a lot of the features around the core that was already in place.

We’ve made sure that all actions follow proper logical steps: implementing events and notifications, user confirmation mechanisms, more security and a better edge-case detection. Also, a more complete handling of all things related to user wallets, funds and more was put in place.

This is an important part of any platform, but not really exciting news, is it?
Well, you’re right. But that’s just the tip of the iceberg!

Most of the backend related work for the last weeks has been focused on our Staking of Opinion Pools algorithms.

Last time we talked about defining how things should function. Now it’s time to see how those functions really work, converting our concepts from words to math and logic.

Performance evolution algorithm? Check!

We now know exactly what performance really means, how to quantify a SOOP’s prediction accuracy, and how to covert that accuracy meter into the user’s performance index that he can proudly display on his or hers profile.

Trust distribution and progression? Double Check!

Measuring a user’s trust is not an easy task! But we now have all the pieces in place. We know what variables to measure and how to convert those measurements into a trusty Trust Meter that will let everyone know just how much trust a user command from his or hers community.

Reward eligibility and distribution? Triple check!

Equitable distribution of rewards is very important for us, as this is the real prize and motor for every user to push on and feel like it was all worth it. A lot of work has been put into ensuring that everyone will get what they are owed at the end of a SOOP, and we now have all the calculations in place and all the math checks out.

Math and so much more!

With all the mathematical formulas now in place, we now have everything we need to start converting math into code: control variables have been identified and integrated into each algorithm, progression and self-adjustment mechanisms have been included into each formula and the first round of simulations and model validations are done!

Incentives and penalties

At Coreto we believe in fairness and fair play! So, of course, this is what we are working to provide for our users.

We now have mathematically sound incentive and penalty algorithms! The system will promote fair play, professionalism, dedication and merit!

As with the security measures that keep our users safe, our incentive and penalty measures are designed to keep our users’ work and reputation safe by:

• limiting potential bad actors
• prevent systematic attacking of someone’s reputation or trust
• discouraging plagiarism and “parasitic” promotion (like ripping off someone else’s work and claiming it as your own)
• and more…

This has been a challenge, but we are confident that we’ve found a way to both keep things fair, as well as provide users with the freedom to promote and present their predictions and build their reputation and trust with their community.

We are now very close to the last stage before implementation regarding the algorithms. This means that now we just have to run extensive simulations on the whole system to ensure that everything makes sense.

We are also starting development of the internal APIs of the platform, that will be linking the backend and frontend together.

This brings us to our next topic.

Part Two: User Interface & User Experience

Thing have been on track for a while regarding the design on the user interface, and we are happy to announce that we are almost done!

This week are working on finishing up the last details for the last two remaining pages of the platform! This means we now have the full picture on how things look and feel, what goes where and how everything interacts!

Have a look!

Implementation of the designs is also coming along smoothly! Our frontend team is determined to keep implementation as close as possible to design. So far they have done a great job!

Next steps for the Coreto platform

As always, a lot more is being worked on in the background, as not everything can be included in these developer updates. We are also working on things like expanding the database architecture, system and API design, planning for the server infrastructure, server and infrastructure based security measures, and so much more.

Also, our team has been hard at work on promotion strategies and materials. Preparing our ALPHA launch strategy, marketing and exploring all the ways we can expand once the ALPHA version of the Coreto platform is ready!

I’m really excited about how things are shaping up, and I can’t wait to tell you more about it soon.
Until next time!

Do you like what you see so far? Do you have some feedback for us? Or do you just want to give the team some kudos? Drop a message on our official Telegram group to let us know!

Follow us on our official communication channels for more previews and updates as we move ever closer to our ALPHA release!