MYRY News: TORONTO, ON and LAS VEGAS, NV, Mar 24, 2014 (Marketwired via COMTEX) -- Myriad Interactive Media Inc. (OTCQB: MYRY) (BERLIN: XNG), a global interactive media and development company, is pleased to announce that we have initiated development for Dogecoin integration into CryptoCafe.com.
"After one month of solid testing, gathering user feedback, and further market research we have decided to continue our development of CryptoCafe.com into Phase 2 with several new planned integrations and upgrades," said Myriad CEO Derek Ivany.
The original CryptoCafe.com system was built for bitcoin and more emphasis was focused on the security aspects of the website due to hacking concerns that were prevalent in the entire bitcoin space at the time. The company used common methods of cold storage to store coins and keys offline and implemented a manual withdrawal system to provide safeguards to our users. We are pleased to announce that our development team has come up with a new way to build an API system that will not only be beneficial for CryptoCafe.com but also for third-party developers who may want to utilize the technology for other projects. The concept for this innovative API system for crypto currencies will enable more rapid and secure transactions without the need to sync with the block chain for each currency. The API will come equip with many features like watch-only addresses where developers can add "watch-only addresses" to the system with ease. A simple example of the benefits of this high-level tool would be for the rapid query of crypto currency account balances. We plan to focus strong emphasis on "spend transactions" where users of our V2 platform as well as API users alike will have the ability to specify an amount to be sent to a dedicated crypto address. The system will generate a return transaction based on the balance encrypted within the "watch-only address vault." Third party developers will have the ability to safely call the API to push transactions on the network. Lastly, this new system will work with multiple crypto currencies and multiple watch-only wallets and therefore fits in with our planned Dogecoin integration for this V2 development project.
"There are many benefits of investing in this type of proprietary system," said Myriad CEO Derek Ivany. "Not needing the private keys of clients makes this type of programming completely safe for developers. This also saves substantial time for developers by abolishing the need to manage multiple servers with multiple crypto currency block chains. As of now block chains consist of tens of hundreds of gigabytes and therefore requires a considerable amount of time to sync with the network. Being able to sign transactions offline with ease and confidence will provide an all around robust system. This is where we see the future innovation for CryptoCafe.com and other potential projects down the road," continued Ivany.
Myriad also plans to make further upgrades to the design and functionality of the website and will be eliminating the current twitter-bootstrap CSS to an alternative front-end code which will be more suitable for multiple device scalability. Lastly, users of the system may notice some changes with the internal mailing. We have been working on implementing a new system which will eliminate spammers and bots that have attempted to flood the system with unwanted messages.
