Codex Protocol Product Highlights: Q3 2019
A brief overview of the progress over the past quarter
The vision for Codex is to become the world’s registry for valuable items, and we’re thrilled with our progress this quarter. Quarter 3 was noteworthy with incredible growth and significant platform changes. We like to keep the community up to date with progress at Codex, so we’ve compiled a list of highlights from this quarter. Blog posts will be linked for a more in-depth look at the highlights mentioned below.
Significant Growth of the Codex Registry
This quarter, as we began to onboard auction houses to Codex, we experienced a significant increase in Codex Records created; a trend that will continue to rise at an increasing rate each quarter.
Records Created Per Quarter
(Browse through the new Codex website to view updated design, language and organization)
We overhauled the site to focus visitors on the main actions that we want them to take; creating Records and searching for an item’s provenance. The updates here are lengthy, including new homepages, search & browse features and a complete redesign of the entire website. For a comprehensive look at all of the updates around the search and browse features read this article, and view the updated site here.
Re-writing the application for SSR
This quarter we re-wrote the entire application using a technique called server side rendering. This overhaul designed to derive substantial SEO improvements for auction houses and artists on Codex, make speed improvements across the site and increase provenance tracking functionality.
This article outlines all updates made during the application rewrite.
Enterprise Integrations: API improvements and Identity V2 Contract
We improved The Codex API transaction receipt handling which improved speed and reliability during bulk uploads. Auction houses register hundreds or thousands of items at a time, so it was critical to make this process as quick and reliable as any non-blockchain platform.
We also deployed the Identity V2 Contract, which has the ability to accept transactions from more than one address which was critical to scaling our enterprise relationships. Now long-running bulk transactions (from auction houses) can be processed in parallel with individual user transactions, meaning thousands of Codex Records can be created by the auction houses without affecting the queue of transaction from normal users.
Top 3 Highest NFT transaction volume
This quarter, for the first time, Codex made it among the top 10 of Ethereum NFT dapps for highest volume transaction at number eight and following for multiple weeks after in the top 3 spot.
Given our plan for auction houses over the next few months, we anticipate being the highest transaction volume NFT dapp on the Ethereum network in during Q4.
During Q3 we added records from 11 more auction houses through our partners at Auction Mobility, and created thousands of Codex Records for items sold in their sales. The 16,000 unique items registered on Codex come from various art and collectibles categories, including fine art, fine wine, antiquities, diamonds, jewelry and more, which contribute to our goal of being the world’s registry for art and collectibles.
In addition, we began integration work for our projected Q4 launch with LiveAuctioneers, which will allow all LiveAuctioneers users to generate Codex Records for items they win.
Art Giveaway with VESA
This quarter we have been working with a London-based artist, VESA, to coordinate a digital art giveaway to attendees at Vegas Blockchain Week at World Crypto Con (Oct 29–31) and Litecoin Summit (Oct 28–29). We will send Codex Records with VESA’s artwork to the attendees of the conferences, with the eligibility to win the physical artwork at the end. See images of the works below. Get all the details here.
This list was intended to give our community an overview of the highlights from the quarter, but is not a comprehensive look at everything the team has worked on this month. To keep up with Codex on a regular basis, check out our blog and subscribe to our newsletter on our site beside “Join our community”.
Codex is the leading decentralized asset registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex’s landmark application, Biddable, is a title-escrow system built on the Codex Protocol, which solves long-standing challenges in auctions: non-performing bidders, lack of privacy and bidder access. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries.