Charles Hoskinson Brief Update on Bittrex Exchange - 07/09/2020

Charles Hoskinson Brief Update on Bittrex Exchange - 07/09/2020

(Written by @Eric_Czuleger)

On September 7th Charles Hoskinson sat down to give a brief update on Bittrex.

We (IOG) wanted to give our supporters an update on the relationship with Bittrex. Our team has been working on an end to end analysis of the wallet backend of Adrestia. This has given us insight into some cascading issues with Bittrex. We have now enhanced our testing and we are walking through every aspect of the wallet backend. This has led to some massive improvements and these updates should be pushed into the wallet this week. We are also working closely with Bittrex to help fix their difficulties.

The light at the end of the tunnel is that we will eventually solve Bittrex’s concern, but the improvements will also work their way into all other Cardano wallets. This will improve performance across the board which was a fortunate accident in this process. We believe that there will now be a strong chance of resolution soon. We will then continue with benchmarking and performance improvements.

We know that this is deeply frustrating. This is not a security issue, it is a performance issue on the tail. However we have not built software which will work at this particular edge case. This is why our senior staff is currently at work on the problem. We have made some major resolutions and as soon as it passes QA we will likely go green this week. We will broadcast as soon as developments occur.

Bittrex was the first exchange to list Cardano. This means that they were using the Serokell code which made migrating to the Byron reboot difficult to integrate. We are now solving these issues by systematically working through the old software. This is not Bittrex’s fault. The exchanges which came later were not exposed to the older code which allowed them to go green sooner.

We believe that we will have full confirmation that Bittrex is green soon. It is our highest priority and our chief engineers are working on it. Soon the performance will be more than tolerable. We believe that all difficulties will be solved soon. We would like to thank Bittrex for their partnership and their patience. We would also like to thank our supporters on Bittrex. Fortunately, the software that Bittrex is moving to is future-proofed and performant.