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Bloom Development Update

Bloom is in a very exciting phase right now! There is a lot of community interest in the roadmap we have laid out, we are working with lenders on our platform, our Slack is growing like crazy, and our token sale is just around the corner.

We are pleased to announce that we’ve hit a big milestone significantly ahead of schedule. We’re deploying the first phase of the Bloom protocol next month.

We have been working hard on all fronts and we are ahead of schedule with development. Our sale contracts will be deployed to the main net next week.

Bloom users will be able to signup and participate in the protocol voting system as soon as they own some BLT. User profiles and voting are at the heart of our protocol. These features set the stage for our identity and risk platforms which will be live at the beginning of 2018.

Polishing our Token Sale

We are in the process of getting our second formal audit. We have been using some of the most trusted community resources, including:

We are aiming for high test coverage on our contracts and we’re using tools like solhint to help double check for common mistakes. We have a basic vesting system built in for founders and advisors based off of OpenZeppelin’s VestedToken. Once we are done with our second audit we will open source all of the code so that contributors have full transparency before buying BLT.

Keeping our Communities Safe

We have seen incredible community growth on Slack and Telegram communities. Between the two, we have over 6,800 community members! After our token sale we want to migrate off of Slack, but in the meantime we can’t risk splintering our community. We have setup a number of tools which we want to share afterwards that helps detect spammers and scammers before they message users.

Our custom setup builds upon what other crypto Slack communities have setup with antiScamBot_slack. Since anti-fraud is inherently a cat and mouse game, we can’t dive too much into the techniques we’re using. Simply put, our combined system of signup monitoring, fingerprinting, and early detection has seen an 85% reduction in malicious activity on our Slack. We’re seeing fewer people get through the filters and when they do we catch them fast! Of course, our community has also been vigilant which has helped with quick early detection.

Easy-to-use Decentralized Invites

As we mention in our whitepaper, we want to concentrate where we initially launch the Bloom network so that early users have a great experience. The early system requires users to collateralize a fractional amount of BLT in order to invite new users. If the user invites someone who exit scams, they can’t reclaim their BLT. The idea is to make it harder for someone to invite a lot of malicious users in the early days of the network.

Our prototype for the backend of our user system is done and should be ready for an audit soon. The front-end we are building out to interface with these contracts makes it seamless to use this system. To facilitate adoption, a well-built dApp should feel just like a well-built app! The end user should only brush up against the more technical aspects of Ethereum (addresses, signing, ENS) as a last resort.

Accepting a Bloom Invite

Voting for Bloom Token Holders

Decentralization is a core value for Bloom so we want to launch with an easy-to-use voting system. This goes hand-in-hand with the account system mentioned above. BLT holders will be able to vote on decisions that are relevant to Bloom’s development. Voting is counted proportionally to the amount of BLT a user holds. This contract is also prototyped and should be ready for an audit about a week after the invite system. Our goal is to have voting and invites lives by the end of December.

Voting with a Bloom account

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Bloom Development Update
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