Join our live PegNet Launch Chat at 1500 UTC (8am PST) on Tuesday the 8th.  PegNet launches the 7th at 1500 UTC and 24 hours later we’ll have a live chat to discuss the launch and PegNet’s future and implications.  Zoom Link: https://zoom.us/j/6823888830

See you there!

For those interested in PegNet, which is a network of stablecoins built on top of Factom:

PegNet Milestone 2 (pM2) is just about here!  The plan is that conversions and transactions will go live on Monday, October 7 at 1500 UTC (block height 213237). If you wish to transfer/transact your pFCT and PEG, you will need to download the release of pegnetd. This is the daemon that will sync from a factomd node, and interpret the pegnet OPR and transactions chain. It will allow you to query for balances of all assets, and make transactions. The current pegnet miner only tracks rewards and total burns, it does not track transctions and conversions. So all balance queries should be done through this daemon.

When we go live, PEG conversions will not be enabled. This is because PEG is currently valued at 0 by all miners. We will need to push out a miner update such that miners can query for the value for PEG, which will enable PEG conversions.

If you have any questions, please reach out on Discord: https://discord.gg/V6T7mCW

Release Download: https://github.com/pegnet/pegnetd/releases/tag/v0.1.0

Milestone 2 (pM2) is just about here!  The plan is that conversions and transactions will go live on Monday, October 7 at 1500 UTC (block height 213237). If you wish to transfer/transact your pFCT and PEG, you will need to download the release of pegnetd. This is the daemon that will sync from a factomd node, and interpret the pegnet OPR and transactions chain. It will allow you to query for balances of all assets, and make transactions. The current pegnet miner only tracks rewards and total burns, it does not track transctions and conversions. So all balance queries should be done through this daemon.

When we go live, PEG conversions will not be enabled. This is because PEG is currently valued at 0 by all miners. We will need to push out a miner update such that miners can query for the value for PEG, which will enable PEG conversions.

If you have any questions, please reach out on Discord: https://discord.gg/V6T7mCW

Release Download: https://github.com/pegnet/pegnetd/releases/tag/v0.1.0

Attention Miners

A patch was just released to address the entry spikes we have seen over the last 2 days (only a few accounts). These spikes cause more ECs to be burned than necessary. For block 210534 for example, 4752 oprs were submitted. This costs miners.

This patch fixes this bug, saving you ECs. We suggest all miners update immediately. You only need to update your coordinators, so if you are running many netminers, those are not affected.

The patch can be found here: https://github.com/pegnet/pegnet/releases/tag/v0.2.1

PegNet miners successfully upgraded to V2 of grading and now 25 miners are rewarded 200 PEG each per block.

Another reminder to update before  block height 210330, roughly 17:00 Sep 16, 2019 UTC

Attention Pegnet Miners!

V2 Grading has been in the works for awhile, and the release binaries are ready! We will see the v2 grading activate at block height 210330, roughly 17:00 Sep 16, 2019 UTC. You must upgrade by then.

Downloads for the miner binaries are located here: https://github.com/pegnet/pegnet/releases/tag/v0.2.0

There is no change to how you launch your miners. This is a breaking change, so all netminers and net coordinators must be updated. They are not backwards compatbile.

Please refer to the release notes on github for the changelog information.

A simple to follow PegNet mining guide using Docker has been released.  It is available here: https://github.com/pegnet/pegnet-compose

There will be an informal PegNet chat tomorrow (Monday) the 9th at 11:30am CST.  Join David Johnston, Paul Snow, David Chapman, and more: https://meet.google.com/bnf-fnjq-fkk

Attention Miners

As you may be aware, there is an update to the grading algorithm in the works. The details of the grading algorithm are at a high level:

// 1. Top 50 OPRs by hash difficulty are taken
// 2. 25 of those OPRs are selected by grading their prices with 1% tolerance band
// 3. The submitters of these 25 OPRs are equally paid 200 PEG each
// 4. 1 OPR is selected from the 25 by grading without any tolerance band
// 5. The asset prices are set based on this 1 OPR from step 4 above


If you wish to understand the minutiae of the algorithm, feel free to ask questions in the #oracle-mining channel on Discord. There is still analysis ongoing on the 1% band, but that is what we have atm. The code is developed and under review.

There are two big changes that will affect all miners:
1. The size of the OPR is expanding, meaning the cost per submission will be 2ECs, not 1. The amount of ECs you are currently burning will be doubled. This may be perceived as double the cost, but when taking into account the cost of paid data sources and hardware, it is a minimal bump.
2. More miners will be paid, and therefore more miners will be winning. Large miners might see their rewards go down, and small miners will see an increase in rewards.

A side effect is that the variance of various data sources will impact miners less. There is still tools to be developed (ongoing discussions) to help miners be more informed about the data sources they choose. And some modifications to polling are being discussed to better handle stale pricing

Join us tomorrow, Monday the 19th at 16:45 UTC for a live stream of the mainnet launch.  Four panelists with in-depth knowledge of the PegNet and Factom Protocol ecosystems will be answering questions.

PegNet runs on top of the Factom Protocol.

MainNet goes live at 17:00 UTC!  Get those miners updated to version 0.1.1 -- https://github.com/pegnet/pegnet/releases/tag/v0.1.1

Less than 24 hours until mainnet mining goes live!

Hurry and get those factomd nodes synced. 

Attention Miner!

A hotfix was released that affects anyone using OpenExchangeRates or ApiLayer as a datasource. Given OpenExchangeRates is one of the defaults, this likely includes you!.

Upgrade to the latest release here https://github.com/pegnet/pegnet/releases/tag/v0.1.1.

This is crucial to providing accurate data.

As you configure your miners, PLEASE make sure the CoinbaseAddress in your defaultconfig.ini files is your FCT address.

If you are configuring fresh, and getting the defaultconfig file from github, then the default CoinbaseAddress is going to be CHANGEME, and your miner will bomb if it isn't a valid FCT address.  If you built your configuration in the past, you might have a public FCT address for your CoinbaseAddress.

Older versions of the defaultconfig.ini, and versions used against the TestNet generally have public FCT addresses.  Please don't mine with a public FCT address, because that is terribily unrewarding!

Double check your configurations!

IMPORTANT ANNOUNCEMENT

New builds are now published for miners. Be sure to update if you want to participate in the mainnet launch on Monday. The post has been updated with details.

Sorry about that.  The Bitcointalk mods moved things around a little on us.  The link has been fixed in the first post and the announcement thread can be found here: https://bitcointalk.org/index.php?topic=5174967.0

A blog post from one of the PegNet Core developers:

PegNet Part One: Overview and Mining the Oracle

You need Entry Credits to enter data into the Factom Protocol (some will provide these for free in Discord if you ask to get you started).  Also, you mine external data providers, so you do need to signup for one.

Mining always has external costs such as electricity, hardware, etc.  For PegNet, an external data provider will be one of those costs until pools become a thing but then their fees will of course cover those costs.

In the end, it all comes down to profitability.  Will it still be profitable to mine PEG despite the external data provider?  That's all that really matters...