HyperStake is hyperactive. We are releasing features very frequently. Why? Not to pump the price, just because we like to do it. Of course, the features have to be useful. Being sort of old-timers in high-PoS does help.
Some features we developed:
Device supportRaspberry PiThanks to Sluppy for much of the work. Apologies guys if I forgot some people, just mention it and I will correct.
Raspberry Pi are very useful because the are low power (3W?). HYP wallets benefit from being online 24/7, whilst not requiring much power. In short Raspberry Pi and HyperStake are made for one another.
ARMWe plan to have Android and iOS wallets. Staking ones. Sure, they will drain your battery, but you could turn this off. Now, out of the fun part, is it really useful to stake on wallet? You should not have most of your coins in a device that you can easily lose/get stolen like a phone or a tablet. Thus what you have in mobile device should be for buying, so hardly time for staking, especially since buying would more often than not imply destroying your coinage. For the moment, I see no reason for a staking wallet on mobile device, out of the sheer fun (which is important, and maybe central in HyperStake).
In any case, having working wallets on ARM is important, because I envision ARM to become an even more important part of the computers in the future. A company (which was sadly way to ahead of time) was even designing ARM CPUs for supercomputers.
Inflation controlThat's what scares most people, especially in a deflationary environment like Bitcoin and with crazy-high interest rates like 750% (even 20% seems crazy when compared to real world but you just can't compare the risk in real-world and the risk in Cryptoland - the risk must be mitigated accordingly).
The danger is exagerated, but there is still a danger of spiraling in hyperinflation. That's why most high-PoS coins introduced several mechanisms. The best-known is NoVaCoin Stake (NVCS) but we decided not to use it (Presstab could explain in more accurate terms why we did not use it).
Instead, we are using two other inflation control mechanisms:
max subsidy and
max generation.
Max subsidy reduces compounded interest and economically encourages increased security - if your block is so large that you would get more than 1000 HYP by staking, the HYP above 1000 are lost, so you'd better have several smaller blocks instead of a giant one. In turn, several smaller blocks will take longer to stake, so they will secure the network longer (provided you leave your wallet open, which in turns is more of an incentive when you have several block almost to the point of staking than when you know there is no chance you stake before long).
Max generation works this way: the daily generation is capped. We are presently at around 20% of the maximum (960 000 HYP per day) but we will eventually arrive to it. When this will happen, I expect the price of HYP to increase because of scarcity - assuming adoption continues to extend. That bothers me a bit because this would lead to a situation similar to block halving, which I personally dislike. We are considering ways to "smoothen" this max generation cap. No promise we'll find a way. If we do find a way, this will be integrated into the "mega fork" that we will implement in several months and that will integrate a lot of changes all at once - the goal being to minimise the amount of changes for the holders and exchanges.
Staking managementWe say HyperStake has the "Most Advanced Coin Control Wallet" for a reason. It really has, it's plain fact. And with max subsidy, this is not a gadget, this is actually useful. You'll see plenty of discussions regarding the "sweet spot" (fastest reward without wasting coins because of the 1000 HYP barrier from max subsidy (
hint for finding it). Still, there is an issue here: people would have to merge the split blocks every day (for the block with less than one day of age). Ultimately, only devoted holders will do it, so it would lead to a concentration of coins. Worst-case scenario, it would lead to the coin being abandonned, because it is "too cumbersome to manage". An automated system would act as an equalizer. One more thing to consider for future coding.
New uses of stakingThe combination of very high interest rate, pretty quick min age (8.8 days) and focus on experimentation paves the way to new uses of staking, beyond "I hoard and I get rich" (look at what is going in real estate with such a mentality). This is really what makes me the most excited about with this coin. Following the footstep of Apple, I proposed that major features would have a catchy name. Apple has CoreAudio, Grand Central, AirPort, FireWire, ThunderBolt... HyperStake has two initiatives: HyperShield and HyperSend.
HyperShieldThe
HyperShield initiative is oriented toward protecting the coin (the name comes from Blackcoin's BlackShield). Below are some of the instruments.
- A pledge for a buy wall (sell 25% or your stake every month and devote a part of this profit to a buy wall, itself being coordinated by the community).
- Using the endowment function to have self-sufficient faucets and community bounties "staking bounties" (which in turn requires some maths to know how much should be used during every staking period to avoid reducing the principal sum). The rationale is that faucet and giveways encourage people to care for HyperStake even if they don't have much.
- To maintain intentionally small blocks devoted to security only, since they will take a lot of time to stake.
- Using the HyperSend feature to increase adoption and encourage liquidity (Poloniex already gave his agreement for "staking to exchange")
- A buying bot for market making, further increasing liquidity, which is a plague of high interest securities.
- Hopefully we’ll find way to ensure a better distribution of coins too. I did not run the maths about coin distribution, but we should do our best to have a better distribution. Concentration leads to the demise of a coin (one could argue this is the problem now with fiat graph, video, by the way). Speaking of that, I’d like to have something similar to a Gini index but for HYP and others, to compare - but since every one can have multiple wallet, that makes it difficult a discussion on this.
HyperSendThe
HyperSend feature is a generalisation of Stake for Charity (S4C), a great innovation by Tranz. Stake for Charity allows to automatically devote a part of the staking to a secondary address, which is turn will be used for donating to a charity of your choice. Historically, Stake for Charity was not even implemented in the GUI wallet, it was a RPC-only feature. True to the great relation between presstab and Tranz, presstab created the GUI wrapper and Tranz used this code to integrate it further into the HBN wallet.
Stake for Charity further evolved into some more uses in BottleCap, the second coin Tranz is taking care of. Here, it is called Autosaving and its goal is mainly to backup some coins to a cold wallet, for security, including against oneself (compulsive spending, anyone?).
Why not push the limits further? Ultimately this is not about charity or about saving, this is about automatically sending a part of your stake somewhere else. Hence the term HyperSend.
Possibilities are endless. On top of the above "charity" and "cold wallet" options, it is now possible to automatically send a part of the stake to an exchange (Poloniex already agreed), for selling. This will in turn encourage liquidity since people will have HYP ready to be sold. Since it is not automatic, it won't lead to contant dumping like multipools. And since exchanges usually do not stake (for obvious security reasons, staking requiring a hot wallet) holders will still have an incentive to sell from time to time (money on the exchange is basically sleeping money). Another possibility is to automatically send HYP to friends to make them aware of it in an way that both incite them to pay attention and doesn't hurt you - you are giving a part of your profits, not your principal sum. With some extra coding yet to be scheduled, (namely, timed sending for, say "I stake for my friend for 30 days then he is on his own and I stake for another friend"), this could become a very effective way to spread the "HYP love". Yet one more option, for later, is to arrange contracts with merchants, for instance to get a free coffee every month or week. You send HYP to a merchant's wallet and once you get enough, they offer you a coffee or a meal. "HyperStake: there is such a thing as a free lunch."
Have funHyperStake is meant to be fun to use. Fun means adoption and, remember, game is the second most efficient way to learn (the most efficient of all is shame, but this is hardly a pleasurable one).
So, among other things, HyperStake will be the very first wallet (that we know of) to implement skins — and on the fly theme switching, on top of that. Yes, you'll be able to choose between different appearances. The default appearance will be called HyperBlue (see a trend, here?) and once the feature will be released, there will already be a second layout to choose from, called Poloniex, in hommage to the biggest exchange for HYP (we received legal authorization from Poloniex to use their name).
In turn, having a themable wallet make it easier to have a theme for children - remember what I said about learning?
financial illiteracy is plaguing the modern world. Piggycoin was the first coin to try to address this topic and we believe that HyperStake with HyperSend could help raising awareness on sharing and saving - plus the ease of keeping track of spending thanks to the blockchain technology.
I hope I gave you some more reasons to get interested in HyperStake. Now is a good time to buy or hedge HYP with Bitcoins
or Monero.
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