By popular demand I am creating this thread to facilitate tracking the status of BitShares X development.
At this time BitShares X has already had its snapshot taken (Feb 28th, 2014) and I am in the process of making that snapshot liquid with a chain that allows trading of shares and testing of the TaPOS system.
A quick summary of the reasons for delay after the snapshot:
1) Multiple market manipulation attacks were discovered that require protective measures
- the algorithm for determining when trading can begin based upon market depth must be implemented
- maximum price movement per block must be implemented
2) The ability to pay fees in any BitAsset seems to be a critical feature that was missing.
3) The ability to cover short positions using the collateral in the short rather than external funds should be in the base version.
While we are working on those features we also decided that it would be better to test the system in phases and increase functionality over time. We decided to refactor the code to make it extensible for new DACs which are being developed in parallel (Thanks Toast & HackFisher). This refactoring helps accelerate overall productivity at the expense of a couple of weeks delay in launch. It is already paying dividends though so we think it was a good choice.
I will continue to post updates on the progress of BitShares X here. This thread is locked to 3rd party comments, if you have any feedback to discuss this thread, please use the old BitShares X status update thread for general discussion.
Old Thread: https://bitsharestalk.org/index.php?topic=1890.0