SelfKey Product Progress Report July 2018

This month we published a new version of the SelfKey Identity Wallet which includes bug fixes, performance improvements, and the TREZOR hardware wallet integration. Here is our monthly product report for the month of July 2018.

How Do I Get Version 0.0.8?

If you’ve already downloaded a previous version (0.0.7), the application will automatically download through auto-updates and prompt you to restart via a notification. There’s no need to download and install the application again. If it’s your first time getting the application or want to manually update it right now, you can get it from our website here.

With the latest version, we are doing a tiered rollout instead of opening all the doors at once. This will allow our development and support team to monitor any new bugs or issues without affecting a large number of people. That way we can catch them early, deploy hotfixes, and create a better experience for everyone.

New Feature: TREZOR Integration

The TREZOR hardware wallet integration will ship with version 0.0.8. In our initial user testing survey, we found that an outsized portion of our community uses hardware wallets to store their assets.

The TREZOR integration will function just like the Nano Ledger S, requiring you to confirm or decline transactions on your hardware wallet before it gets broadcasted to the network from the application. It will also detect whether the device has been auto-locked after it’s being idle, and prompt you to re-enter the PIN.

This integration adds another layer of security in the SelfKey Identity Wallet, allowing an easy interface to interact with the Ethereum blockchain through your TREZOR hardware wallet device. Please let us know if you have any feedback at help@selfkey.org.

Update: Exchange Partnerships in July

We’ve announced five new partnerships in the past month with crypto exchanges. These partners will be integrated into the SelfKey Marketplace where you can one-click register a new account. You can read more about each announcement here: Golix, WandX, Trade.io, Finrax, and TagCash.

Update: Login With SelfKey

Login With SelfKey is our browser plugin that integrates with the SelfKey Identity Wallet, allowing you login to a partner website and seamlessly re-use your KYC information. This month we’ve gotten our Google Chrome Developer account setup in preparation to distribute the browser extension.

There is still extensive testing we need to do within our development sandbox and partner websites as this opens up their system infrastructure to a third-party. More updates will be forthcoming about Login With SelfKey soon.

Update: Security Audit Results From Uncloak.io

In May 2018, we announced our partnership with cyber security form Uncloak based in the UK. Uncloak uses cutting edge artificial intelligence to scan both the public internet and dark web, together with a vast network of cyber security experts globally, to investigate and recognize both existing and new cyber threats as they develop.

In July, we recently received our security audit from the team at Uncloak and are happy to report that there are no critical or high-risk issues identified by their team. There were several low-risk fixes that we have already implemented into version 0.0.8. We will continually test the application with our security partners to ensure the utmost security.

Upcoming Feature: Address Book

A big usability problem in crypto is copying and pasting addresses before sending assets across the network. It’s an issue that everyone is paranoid about, and our solution is to add an address book feature into the SelfKey Identity Wallet.

This will remove the anxiety that comes with copying and pasting ETH addresses while going back and forth triple-checking that you have the right one. You’ll be able to save commonly used addresses with a label, and auto-fill addresses by entering that in.

Prior to sending, you’ll also see both label and ETH address giving you a chance to confirm everything is correct. This makes a great balance of convenience and peace of mind. We’ve been conducting user testing sessions with this new functionality in the past month and are excited to get this out to you soon in a future release.

Upcoming Feature: Recommended Transaction Fee

Another issue many people struggle with on the Ethereum network is choosing the right transaction fee when sending assets. This is highly dependent on network traffic and what you’re trying to send. For example, sending ERC-20 tokens requires a overall higher fee compared to sending Ethereum (ETH).

Our solution is implementing an integration with ETH Gas Station, a site that tracks real-time gas prices on the Ethereum network. Through their API, we can find the latest confirmation times in three intervals: under 30 mins, under 5 mins, and under 2 minutes.

We can then use this information to suggest a recommended transaction fee when sending assets from the SelfKey Identity Wallet. Our current plan is to set the default recommended fee as “Standard” which is under 5 minutes.

There will also be an advanced option panel for folks that want full control over how the transaction is sent to the network. We hope this removes a lot of guesswork and trial & error that comes with sending transactions.

Upcoming Feature: Sign Out & Switch Address

One feature request we got from the community is improving the workflow to switch Ethereum addresses with the SelfKey Identity Wallet. Currently, you have to close the application and restart to choose a new ETH address. We’re adding functionality so that you won’t need to do this anymore.

This also related to the refactoring we are doing with React as mentioned in the June 2018 update. By moving elements of our code base to React, we will have the efficiency of just managing only one infrastructure as we add more platforms such as corporate wallet, mobile, etc.

Upcoming Feature: Incorporations Marketplace

This month we also started exploring the SelfKey Marketplace of incorporations. Through this channel, you will be able to select an initial list of locations to setup a legal entity. The amount of KEY required to deposit and unlock this marketplace will be significantly higher than crypto exchanges and have much stricter KYC requirements.

Our initial short list will be focused on crypto-friendly and offshore jurisdictions: Hong Kong, Singapore, Cayman Islands, British Virgin Islands, Nevis, Belize, Panama, Malta, United Kingdom, Luxembourg, Switzerland, Bermuda, and Gibraltar.

This list is subject to change as our integration proceeds, and we will post more updates about this marketplace next month.

Update: Real-Time Pricing Of ETH/KEY/Tokens

Our backend code refactoring from Angular to React has made some good progress this month. We’ve revamped the pricing panels inside the dashboards that display your ETH, KEY, and other ERC-20 token pricing displays in USD. There should be no visual change noticeable, as the upgrades are taking place behind the scenes. This information on USD pricing now updates in a real-time fashion instead of previously designed of once per minute.

Conclusion

We hope you find these updates helpful in keeping up to date with our progress at SelfKey. If you have an idea, feature improvement, or other requests you can post them at idea.selfkey.org. You can also see what other people have submitted and upvote the idea similar to Reddit. Looking forward to updating you again next month.