Safex Development Update: June 3, 2019

Safex Wallet - Token/Cash (non migration wallet)
We are set to release the updated version of the Safex Wallet for Cash and Tokens. There is an updated User Experience that will improve the way we interact with the functionality of the wallet.

Additionally the bugs people were experiencing with the blue screen are generally eliminated: one bug for example on windows if you log out and try to recover from keys it can blue screen. Though by and large it should be operating normally for all users by now.

The release is scheduled for Wednesday June 5th, 2019.

Safex Marketplace Test Net
Last Friday Marko published the Test Net. So now the Safex Blockchain Test Network is operating with the token functionality and the start of the marketplace functionality.

Last week some bugs related to the Test Net hardfork were addressed in the process of integrating the updated code into the live network. This has been the biggest milestone for the marketplace development. Hats off to the players who got it done!

Further Marketplace Development
With the Test Net and the command pattern for all the functionality we wanted integrated into the blockchain we can now expand and fill it with the marketplace usecase.

That being said we are now deep in user stories for the marketplace. Medhi is now significantly contributing to the concepts: Medhi has 5+ years experience coding in the Alibaba group. We are smoothing out the user journey that we will go through when using the marketplace application.

This process is going exceptionally well, and today was a break through in simplifying the system.

For example we have optimized out of title markets and now integrated the curation process into “elevated accounts”. This is preliminary description but basically instead of 2 domain classes we have 1 and you can sell for yourself or buy for yourself as a basic account, though if you pay the kicker you elevate to “power” account that can accept other users’ good to sell in your store. This is a way to curate and filter the offer of goods by relying on the community to establish accounts of goods that are relevant to a single subject such as “electronics” “beauty products” “gems”

We are now in the process now to fill in the blanks about the selling.buying process. There is no turning back from here.

Tying all of this together we lead to the go lang libraries:

Go Lang Libraries
In the last week we’ve started implementing the final requirements needed for the v8 wallet. These are lightweight systems that are essential to make a widespread and easy to use toolbox for developers to integrate with their web stores interfacing with our Safex Blockchain.

The biggest highlight in this part of the project is that we closed on a deal to engage an additional go lang developer who is seasoned in the blockchain space to get things moving completed on time. So let’s welcome Edoardo Tommasi to our team! I’m really excited to have him on board. Since Edoardo hails from Italy I’m glad to share this translated dialogue of the marketplace test net from our community member @eddie995it

This additional passion should expedite code production and we should have the updated v8 (migration wallet) on time.

Note that the tradesatoshi market for the old SAFEX coin is removed as of June 1st, and you have until July 1st to finish withdrawing. Make it a priority if you still have coins there.

You have and to trade safex.

Safex Development Community Program
Thank you everyone who applied for the “beta tester group”. We received more than 60 applications and we have made our selection: an email will be out this week with the particulars where we go next from here.

The past week has seen lots of finalizing of theme and design of the new website that is coming. We are putting through a thorough effort preparing marketing to be ready to open the dialogue about the world marketplace: Safex

The Safex Development Community


I don’t know that I like the idea of elevated accounts, it sounds like a way to rebrand fake/counterfeit goods under false names :frowning: similar to what amazon does that makes products more generic and lower quality. Brand names made of alphabet soup. Eeoooolie or whatever. Same product, product images, different price.

With a mostly anonymous market, how will counterfeit goods be handled?

Through Discernment: validating the shop details offered in their description
2. through the rating system: reputation and feedback.
3. Escrow


Wow,so cool.

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If there is no way to pay for or make fake reviews and ratings then the vendor wont be able to hide the fact they are selling counterfeits. Fake/paid reviews are all over Amazon. Its a problem and I hope safex being on blockchain can avoid. One case I recently read about is here:

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But how? If you age accounts out people will just make sockpuppets on day one and magically introduce them slowly as needed. If you rely on reputation it can be gamed. If you rely on ownership it’s an anonymous token. If you rely on feedback you have to ensure you don’t have the “ebay hostage” scenario, where people can game payment systems that are biased towards buyer or seller. Or people may threaten bad reviews after the fact/push for a discount and leverage reputation.

I’m not saying there aren’t solutions I’m just hoping Dan has thought about this already as this would require some moderation and guidelines. These are common problems that don’t just go away with other market systems.


nice update. what’s up with this xcalibra exchange ? when did we get listed there ? i never saw any announcement.


I joined it, seems to be local, it lists Serbian dinar. Nice interface


It was in update this week, I think


I see the reputation system working better than what we are used to with e-commerce. Few things to consider:

  1. To create an account will cost SFT. Dan mention in the other thread an account costing 50 SFT to create. Blue Paper states “Establishing an account with Safex Tokens requires the user to encumber them in such a way that they can never be removed in the future.” So you can never sell them on an exchange or transfer them to another wallet. Legit users will want to build their reputation up, not wanting to burn another 50 SFT in this way.

  2. Reputation can be given and received. So if sellers product is a counterfeit, user can leave feedback warning other buyers. If buyer threatens negative feedback after the fact, then seller can leave negative feedback to the buyers account. Building your reputation up will prevent one bad actor from ruining your account with negative feedback. Eventually the sellers with too much negative feedback wont be trusted by buyers. I would imagine protection for the sellers too, if buyer has too much negative feedback they can just refuse to sell to anyone with feedback score lower than 95% or whatever.

  3. The feedback will be part of the blockchain so no way to delete or change it. So if you screw up account with a bunch of negative feedback then no one will want to do business with you.

  4. 50 SFT to open an account but the minimum for lock in is going to be higher than that in the beginning and maybe forever. So you wont get any of the SFX rewards if you don’t have the min SFT to lock in. And you are burning through 50 SFT that you cant sell/transfer for each account.

  5. Title markets will have curators so they can boot sellers with too much negative feedback from their market.

Like you said someone could make a bunch of “sockpuppet” accounts on day one but reality is most sellers wont be here on day 1 to do that. As marketplace grows it will get harder and harder to game the reputation / feedback system. And not even worth it considering the cost of ruining an account. People will value their accounts more than traditional e-commerce websites where you can just make a new account for free with different email address. It wont be perfect but I see this system benefiting both the buyers and sellers.


What kind of exchange is
Seems to be very young, but can’t find any Company Informations


They’re a new exchange. Haven’t officially launched yet. I think details will be released soon.

Fully legit exchange. I really like it.


I agree with you. The reputation systems on the various platforms (Amazon, eBay, Alibaba, etc) already have become more valuable than the product that is sold. User review is directly linked to continued success of any online store and therefore can be considered to be equal to fiat currency. Unfortunately the review systems used by these platforms can be manipulated. Various disturbing messages in the mainstream news channels have reported review manipulation by e.g. Amazon. It is worth to spend time and thoroughly think through if there’s a way to reduce, minimize or even eliminate the possibility of ‘bought & fake reviews’.

I had spent quite some time researching the mechanisms of user reviews a while back and came across this video, shown in the link below. Although this video is about illicit items being sold on the dark web, when one would look through that and really understand what is being told, it all makes sense.

Regardless of what any merchant is trying to sell online, the mechanisms (and power) of user reviews always work the same. If curators of title markets properly setup their mini-platform (title market), it won’t take a long time before competition within the mini-platform is created along with competition of other (similar product) mini-platforms in other title markets. As in the video is mentioned, it will logically lead to ‘the best quality product against the best possible price’, regardless of the product. To me, this has always been part of the Safex-vision Mr. Dabek advocates (correct me if I am wrong).


best place to find info is always in terms of use


Wow, interesting video. Thanks