Status Update
We've made some changes to the codebase as an attempt to to speed up the network. These are added to the review branch on github (though they should not be used as an updated client as of yet). See the changes
here. We're currently testing these change on a private network to ensure the integrity of your investment is not damaged by a rushed update. When we're satisfied with the result, we will switch this to master and announce the necessary update. I'd like to stress that this is
not production ready code.
We've invested some personal bitcoin into purchasing Vault and have reached a point where we're much more satisfied with the health of the network and the regularity of the blocks. Thanks for your patience during this time, and thanks to the others that have staked for no reward.
Fixes to the ppcoin codebase are nearing completion, staking rewards are likely to be activated within the next few days. We're currently weighing up whether we can simultaneously roll out the VaultNode beta with the staking reward updates, or if it would be better to jump into plain POS and introduce VaultNodes later. The decision will come as the result of testing currently taking place.
We are aiming to whitepaper the minutia of VaultNodes, but since I'm writing an update I'd like to give a little insight into what you should expect. Regular staking for VaultCoin was set to be 200% p.a., however this does provide a fairly intense level of inflation. Instead we have decided the regular staking reward is due to be 40% p.a, with VaultNodes providing a more attractive rate. A VaultNode acts as an untouchable 'safe' for coins, by committing
x amount of Vault to a VaultNode for
y blocks, you will receive a preferential POS reward. In effect, you are rewarded for dedicating staking power for a fixed period of time. The specifics of this and technical details are in prep for announcement this week.
Finally, we're also aiming to provide a roadmap for the development efforts within the next 24 hours. As soon as the other developers finish work, we'll be putting our thoughts down onto paper for you to consume the bigger picture, and give some details of our project that follows on from VaultNodes.
Thanks once again.
Great dev
Thank you !
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