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Author Topic: Bitmark  (Read 598996 times)
dbkeys
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May 22, 2018, 09:12:52 PM
 #3361

When will the hard fork to version 0.9.7 happen? The newest wallet I can dl from bitmark.io is version 0.9.5... Please elaborate.

Bitmark v0.9.7

Status
We just finished enabling merge-mining Cryptonight with Monero. This proved to be a bit more challenging than expected, because Monero is an original coin which was written from scratch, and only borrowed ideas, ( but no code), from coins before it.

Now we are working out all the details to make sure CEM v0.1 works consistently across machine architectures, ensuring block reward consensus.  The implementation details of the Coin Emission Modulation algo are important. (We need to be sure that the new block subsidy policies produce the same results regardless of processor types.)

Synopsis
Bitmark is adopting an additional 7 Proof-of-Work algorithms, for a total of 8 ( SCrypt, SHA256d, Argon2d, Lyra2REv2, X17, EquiHash, CryptoNight v7, Yescrypt )  all governed independently by Dark Gravity Wave v3 in order to keep mining difficulty matched to hashrate.

A block reward modulation protocol, Coin Emission Modulation v0.1 (CEM v0.1), is implemented which proportionately reduces the block reward if hashrate is low compared to recent hash rate peaks.

Also adopting the ticker symbol MARKS (in lieu of BTM),  to emphasize the goal and nature of the Bitmark project.

We are aiming to make some of the new Proof-of-Work algorithms being adopted merge-mineable with the leading coins that use them.

Timing of Bitmark v0.9.7 Fork Release

Once the fork code is finalized, we will post here and on the forums.  We will have pre-compiled binaries (wallets) for Windows, MacOS and Linux (Ubuntu 16.04 and 14.04).   These wallets will have the version 0.9.7 label. 

The fork will address the major issue which has been hindering the blockchain with Dark Gravity Wave version 3  (DGWv3) governing the mining difficulty factor.  

Once  v0.9.7's new operative rules are activated, (ie, the fork happens) then :

    1) Mining Difficulty will be regulated by DGW v3

    2) Additional proof-of-work algorithms will be able to contribute blocks to the Bitmark blockchain (SHA256d, Argon2d, Lyra2REv2, Cryptonight, Equihash, X17 and Yescrypt). This means that miners will be able to mine Bitmark not only with Scrypt but with these additonal algos too, several of which are ASIC-resistant, thus democratizing the mininig and putting a definitve end to  the selfish-mining situations we have had in the past.

   3) Bitmark v0.9.7 also introduces Coin Emission Modulation,  (CEM v0.1) which modulates up to 1/2 the mining subsidy (block reward) by reducing that half proportionately by the ratio of current hashrate to peak hashrate ( as experienced within the last year).  This is to reduce coin emission when demand is relatively low (as sensed by reduced hashrate) and only emit the epoch's full reward when hashrate is at its peak.
    Regardless of hashrate, 50% of the epoch's full block subsidy (1/2 of 15 MARKS or 7.5 MARKS currently) is always given, to reward loyal miners supporting the Bitmark blockchain through low and high demand periods.

The fork will happen when at least 75 of the last 100 blocks signal support for the fork.

We don't want to release any code before it is well tested. We hope this will be very soon, ( a matter of days or weeks at most) and you can see the coding progress with the regular contributions to our github's 0.9.7 branch.   When the code is vetted as ready, we will merge 0.9.7 into the the 'master' branch, compile binaries and announce the availability of Bitmark v0.9.7, and solicit the support of the mining community to adopt v0.9.7 and make the fork effective.

¡  Thanks for your patience and support  !

Also please note:
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June 19, 2018, 06:10:16 PM
 #3362

Much fairer work than others, and good overview n contents!
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