During March you might have noticed some jumps in the Mobilio rate. This was due to some adjustments in Blockchain management we had to undertake:
The inner workings of the Mobilio crypto currency is described in the Mobilio white paper (https://www.mobilio.cc/wp-content/uploads/MOBILIO-Whitepaper.pdf). Its core is handled by the Mobilio smart contract on the Blockchain, and not even we ourselves can adapt e.g. the number of Mobilio created per second by the smart contract. Our role as the Mobilio organisation is to collect the reward points earned by Mobilio users through safe driving, process the conversion from points to token, and report the token conversions to the Blockchain.
The collection of reward points is well tested in our various other products, and can be supervised by Mobilio users themselves (by checking their personal trips and points). However, we had some problems with reporting to the Blockchain. Whenever the transaction cost (gas) needed for a Blockchain transaction was raised too far, our bookings to the Blockchain were delayed; in severe cases, we ran into a timeout and booked a second time. Essentially, this led to duplicate bookings to the Blockchain.
Fortunately, all the collected reward points and transactions by the users are also stored on the Mobilio backend systems, so we were able to correct those faulty bookings and get back in sync with the Blockchain:
- We reduced the number of bookings to the Blockchain to once a day, in order to save costs of gas.
- We refactored some of our code and made sure that duplicate bookings will not occur again in the future.
- We corrected the duplicate bookings by returning those Mobilio to the so-called Bank wallet where they can be harvested again by Mobilio users.