Over a month ago, there were some exploits used on your previous client, which led to a blockchain swap. In hindsight, how did the team handle this? Would you have done things differently?
As far as the deviant team is concerned, security has been of prime importance to us. Therefore we could not have compromised on the fact that the reward structure was exploited by some of the network participants. We had to take a decision that was inline with the majority of users on the network.
Using very elaborate scanning and investigation we came to know that the exploit was utilised by a very very small fraction of the users. This apparently put a very large innocent bunch of people in a risk of losing their hard earned investment value. Some of these people have invested even their life savings into this project. Therefore, as the admins of this project it was important to protect their interest also at any cost.
We tried to fix the specific exploits but after a few dry runs, we realised that in the long term, for a project focused on improving security of the tokens storage, it is necessary to be fully prepared for attacks like this in the future.
The easiest route for us to handle the situation was to patch the exploit and maintain the network which would have probably preserved the value of the tokens short term. However we opted for the coin swap because we felt that it was prudent to migrate the whole project to a stable and Secure codebase. Given the circumstances we think we have made the most informed choice and we don't regret it.
Wasn’t it possible to upgrade the current blockchain wallet from an upstream repository and still be able to lock the stolen funds while keeping the history intact?
Like I mentioned in the previous reply, the easiest way out for us was to keep working on the older codebase. However if you look at the developments that happened in the last couple of years the blockchain technology is evolving at breakneck speed so we found that this is an opportunity to migrate the entire project to a newer and secure codebase. Patching an older code is way less secure than using a newer and secure code base. Since we are in the beginning phases of the development it was easier for us to do so.
What can you tell about the Gambling Bot that’s being released this month?
Gambling was an experimental attempt to keep the community involved in a common project. We believe that maintaining the blockchain network is as important as maintaining the community. We wanted to give back something more to the users than just a chat room to discuss the developments. Betty bot enabled us to do that. A lot of people were having fun and getting engaged and involved in various ways. This was also an attempt to apply our technology to the betting industry.
You are planning to release your Decentralized Exchange by the end of this year. What will be the most compelling reasons to use this exchange over any of the current Decentralized Exchanges.
The most compelling reason would be the control of private keys to be given back to the user in more than one form. In most decentralized exchanges we have today, the users are put off either by the scalability and speed or by the way they are not equipped to store their digital funds securely. While, for centralised exchanges users don't have access to the private keys. since we are trying to solve both the problems by giving them an experience equivalent to a decentralized exchange with access to their own private keys we are creating an environment that is both user friendly and secure. This makes our platform better at giving the best of both worlds.
How do you see the future of DeviantCoin and how will it continue to differentiate itself from other masternodes?
Since the deviant steam is more focused on real world utility and experience it would stand apart from other masternode coins in that, it will simply not be just another cryptocurrency or a network created to enable payments alone. It will be a network created for helping the crypto community to actually use this network for something useful and something tangible.