Introducing Yello

What is Yello?
Yello is a dead simple and social wallet for Libra. A Proof of Concept with which anyone, including crypto novices, can play around on the Libra testnet. The only thing you have to do is sign in on https://yello.social

Why a custodial wallet?
The first goal of Yello is to keep things as simple as possible. Private keys are still hard to manage for a lot of people, so we decided to make Yello a custodial wallet. But don’t worry. A non-custodial features are on the way.

Social network data…
Yeah, to make Yello social, we ask you to sign in using on of your social networks. A public key is just boring. So we link your name email and profile picture to your transactions. And don’t worry. Yello does not share any of this info with third parties and never will. Basically, the less we know about you the better.

Proof of concept
Yes, Libra has not launched yet and the codebase gets updated daily. This means everything built on Libra breaks a lot. Yello still has its fair share of bugs. So be prepared for things not working.

Why did we make this Proof of Concept?
If Libra ever gets launched, it could be able to bank the unbanked. Imagine what Libra could mean for people without access to stable currencies. Furthermore, we wanted to show what a Libra wallet could like. And that a crypto wallet could also be fun to use.

Questions or comments?
Please leave them here or send to hello@yello.social.

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And to celebrate our launch and make it more fun, here is a link for a giveaway of 1000000 virtual libra. :nerd_face::partying_face: https://yello.social/share/1dZz2ztd80

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Seems our giveaway has been taken. Here is another one: https://yello.social/share/1kZvgps6hk

Yesterday night yello got overflooded on some API endpoint. This resulted in being unable to create new accounts. We have fixed that now so you can create your account again. Funny to see that Libra is still quite controversial in the eyes of some people. I mean, would you put the effort in flooding a Proof of Concept? At least we have about 7500 useless mint transactions on Libra now Lol. https://libexplorer.com/address/46c2f9d2df60beda05ad77eb52b4f2bc500f8320a473c55a686bdd1562c7749c

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So more than a week has passed and we are still alive and kicking ;). We have gotten some great feedback. Next to that we have been hit by the flack that Libra is getting in the press. Libra still seems to be a controversial, cybertruck like, subject. But what does not kill you makes you stronger. Tanks to the positive feedback we are continuing with our little endeavor called Yello. New features are currently being developed as well as native apps.

We are a small team and we would like to know if there are people here who want to join us on our crusade. If so, please drop us a note on hello@yello.social.

Furthermore, your feedback is highly appreciated. So if you have any questions, remarks or bugs you want to report, please do so. You can use the same address: hello@yello.social

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Just went on it and checked it out, looks really clean. What are you working on now?

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Hi Alexander,

Thank you for your reply. We hope you like it. Currently we are further improving ux and we are adding features. An address book is on the top of the list. We are also making Yello multi-lingual. Furthermore we are working on our native apps.

An address book would be great. I was wonder how this wallet was created? What was your process to making it?

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Hi Alexander,

I would be very happy to share that as it is quite a story. It all started when I wrote the story “I think sathoshi would barf”. The maximalist in me used to be really opposed to the whole libra/calibra setup. This led to quite some discussion between me and my, now, co-founder. We both have strong ties with Venezuela and he pointed out what a global stable cryptocurrency could mean for the people of Venezuela. And the more research we did, the more my opinion about libra changed (although my opinion on calibra has and will not). There are quite a few things that make Libra stand out besides the fact of being a global stable currency. It solves some important issues most cryptocurrencies have in terms of scalability. Because of the consortium involved a BFT like consensus algorithm is enough to provide security. There is a limited amount of nodes and there is no probabilistic finality. This means that Libra can scale. Furthemore it already has backing of some major players. So, we actually see Libra as something that could have a tremendous impact. Especially in countries with distressed economies.

What is also the case is that cryptocurrencies struggle when it comes to adoption. Next to speculation there is next to none. This has its roots in that cryptocurrencies are collectibles. So people don’t use a cryptocurrency as a means for exchange. Stable coins are a different story. But then again there are an awful lot of technical hurdles. Most wallets struggle when it comes to UX and there is the problem of managing private keys. Like people lose PIN’s, they loose private keys. That is basically why we started with Yello. To make a wallet that is fun, personal, quirky and easy to use.

Making transactions personal was quite a challenge as it involves creating a system that basically imports every transaction on the libra network almost in real time. When we managed that we decided to make the initial version of Yello custodial. This to leave key management something our users do not have to deal with. When the system was in place we focused on creating the clients, starting with the web client. We are currently developing the native clients and we can use about 80% of the codebase of the webclient so that is cool. Now it is a matter of iterating and listening to our users. Considering that Yello is a proof of concept and not even a beta, we think we already did okay. We will improve over the next few months and we will see where this journey will take us.

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