Belacoin - Supercharging entrepreneurship with the power of the blockchain

[ervin-lemark]

Doing some voluntary promo for Belacam 

Belacam Beta 2.0 Announced With Launch In May / June Time Frame

Keep up the good work!

[1715198619]

1715198619

[1715198619]

1715198619

[aoluain]

Dark Gravity Wave will fix an issue that has been affecting the Belacoin blockchain where blocks won't be found for an extended period of time.

The Problem: Occasionally, there will be extended periods of time where no block is found on the Belacoin Blockchain.
What are the consequences of this? Transactions are not processed until a block is found. Your coins are 100% safe, but it can be frustrating to have to wait a long time to receive your coins.
Why does this happen? There are mining pools out there that search for the most profitable coin to mine and switch to it for as long as it is the #1 most profitable coin. A lot of the time, that coin is Belacoin. When these mining pools switch to Belacoin, the current difficulty regulator (Kimoto Gravity Well) spikes the difficulty to keep the 2 minute block times consistent. Then, the mining pools drop off because Belacoin is no longer the most profitable coin to mine, but the difficulty remains very high. Now, it can take several hours for the next block to be found. Once the next block is found, the difficulty readjusts back to normal and everything continues smoothly again.

The Solution: Dark Gravity Wave Mining Difficulty Regulator
Why is is a solution? Dark Gravity Wave (DGW) was created to solve this very problem. It takes more of a moving average so the difficulty does not spike so hard when a new mining pool hops on. It's more dynamic and flexible than Kimoto Gravity Well and will help reduce those long periods of time where no block is found.

Yes I knew it was a mining related thing which in turn affects
payments and transfers for users.

You description clears up my query, thanks again!

Also I wasnt aware that Belacoin was [one of] the most profitible
coins to mine, thats interesting ....

[The Ambia Fund]

Something we've been discussing and working on today has been integrating BELA/USD conversion estimates directly onto posts. This would allow users to see an estimate of how much money (in USD) a post has earned. The benefits of this are that users can see how other photos (especially quality ones) are earning money, so they can know that they can earn money too. The difficulty comes with how to give an estimated USD value when the price of Belacoin fluctuates. A post that has earned $5 one day may be worth $7.50 the next without earning anymore Belacoin because the price of Belacoin increased by 50%.

You can see the mockup in our Slack at belacoin.herokuapp.com or posted here: https://twitter.com/BelaCoin/status/862441389916921857

BELA/USD estimates on posts do make the path towards mainstream use and adoptionmuch easier.

[ervin-lemark]

Something we've been discussing and working on today has been integrating BELA/USD conversion estimates directly onto posts. This would allow users to see an estimate of how much money (in USD) a post has earned. The benefits of this are that users can see how other photos (especially quality ones) are earning money, so they can know that they can earn money too. The difficulty comes with how to give an estimated USD value when the price of Belacoin fluctuates. A post that has earned $5 one day may be worth $7.50 the next without earning anymore Belacoin because the price of Belacoin increased by 50%.

You can see the mockup in our Slack at belacoin.herokuapp.com or posted here: https://twitter.com/BelaCoin/status/862441389916921857

BELA/USD estimates on posts do make the path towards mainstream use and adoptionmuch easier.

Steemit is using a three day moving average of steem/USD rate. That means that the value is *averaged* and lagging behind when there are spikes - up or down. As it was the case these last days ...

I guess that the average can be calculated every hour or so. It doesn't have to be a live average ...

[kkaarina587]

We hope to begin a closed testing of Belacam in February and launch an open testing in March.

best of luck for this....anyhow i feel very happy  and excited at this news and i shall wait for this eagerly so make it possible soon...

[reffi]

BELA marketcap should be at least $60 million! Lets go $2 usd !!

[p1erce]

BELA marketcap should be at least $60 million! Lets go $2 usd !!

Only 60 mil? I would say 150 mil

[Hiyatus]

Heads up everyone, the price is moving and announcements are coming fast 

[aoluain]

is this the announcement from the twitter page you are referring to?

Belacoin @BelaCoin
Meeting went very well, better than expected! Can't wait to announce
something awesome for Belacoin's blockchain on Monday, May 15th.

I think we all know about the site update due shortly, looks freakin' awesome
Lets see what this update is going to be . . .

[reffi]

May 15th... where is the update?

[The Ambia Fund]

The formal announcement is due in 2 - 4 hours.

[The Ambia Fund]

Dear Belacoin Community Members,

We are very excited to officially and formally announce our intention and plan to integrate the
Dark Gravity Wave mining difficulty regulator into Belacoin’s blockchain. This document outlines
our proposed approach to integration and elaborates on what Dark Gravity Wave means for
Belacoin.

Over the past few months, Belacoin has seen tremendous growth, growing from a market
cap of $140,000 when we first began working with the project to briefly touching $7.6 million
yesterday. This growth has brought a surge of community members, community projects, and
attention. As a result, the Belacoin blockchain has outgrown it’s old source code and is in need
of new, significant updates like Dark Gravity Wave.

Issues like orphaned blocks and long delays in transactions have been inhibiting our growth,
and you let us know that these issues are your #1 concerns at the moment. That makes them
our #1 concerns as well. Implementing Dark Gravity Wave will help remove those caps and
others that have been hindering Belacoin’s growth.

We recognize that many don’t fully understand Dark Gravity Wave and how important it is to
Belacoin. This document will outline the benefits, elaborate on our implementation plan, and
answer other questions that you might have.

Sincerely,

Andrew Feldspar
Communications Director
The Ambia Fund

Dark Gravity Wave Document: http://belacoin.org/DGW.pdf

[rorschach1]

BELA marketcap should be at least $60 million! Lets go $2 usd !!

Only 60 mil? I would say 150 mil

Half billion easy  And in near future Bela can take a few billions capitalization. Look at the Istagram for example - its cap equal moreover 35 billions.

[aoluain]

Fantastic news, thank you AMBIA FUND for the detailed forecast
on Dark Gravity Wave implementation. Although you explained it
earlier in the thread to me, this is more info and makes the oncoming
process very understandable

Now this is a very positive step towards kicking Instagram's ass 

[legendbtc]

Yes, many people have strong confidence on Belacoin. I see there are many major updates should come because the price of Belacoin is dancing there itself only. At least it should bounce to the normal position where it was before.

[The Ambia Fund]

We've got a new Belacoin block explorer set up at https://chainz.cryptoid.info/bela. It's the best block explorer around for altcoins, and it gives us plenty of analytics that will allow us to monitor the blockchain's health and determine the best time to proceed with Dark Gravity Wave integration. Now that it's set up, we're moving on to developing the Belacoin testnet. After it runs for about 48 hours, we can run a Dark Gravity Wave integration fork on there. This will not affect the main blockchain, but it will allow us to make sure everything works in a controlled environment. Once successful there, then we move on to the real thing.

[The Ambia Fund]

I should have waited, had 145k BEAUTIFUL and sold at the price of nothing! Something around $0.015...
I would go back in time!

We're still doing great things. If you want to get involved in the Belacoin community, come check us out at http://Belacoin.herokuapp.com. We're integrating Dark Gravity Wave very soon, and we have Belacam Gamma coming out soon as well.

[cryptogasm]

BELA getting ready. That buy wall from 9K SATS to 12K SATS was for greater things planned.CHEAP BELA IMO




THE ISSUE :
Belacoin’s blockchain has been affected by an increase in orphaned blocks and long delays in transactions. These issues stem from the current mining difficulty regulator: the Kimoto Gravity Well (KWG).

KWG retargets the mining difficulty after every block is found. It is very sensitive, so one large miner or mining pool can cause the difficulty to surge. When that miner or mining pool leaves, the rest of the Belacoin miners have to crack an unreasonably difficult block.

KIMOTO GRAVITY WELL

The Kimoto Gravity Well difficulty regulator was designed by Dr. Kimoto Chan and originally implemented in Megacoin. It was developed to deal with the issue of large mining pools hooking up to a blockchain and mining a large amount of coins in a short period of time. Unfortunately, when the mining pool leaves, the difficulty remains until the next block is found by the average miners. The Kimoto Gravity Well worked in its time, but it is now outdated and causes more bad than it does good.

PROPOSED SOLUTION :

We will be switching the mining algorithm from the current Kimoto Gravity Well to Dark Gravity Wave. Dark Gravity Wave averages mining power over recent blocks to reduce large spikes in difficulty when a large miner or mining pool hooks up to the network.

Here are some ways that Dark Gravity Wave can help Belacoin:

Regular Block Intervals
Fewer fluctuations in difficulty mean regular blocks and transaction times.

Fewer Orphaned Blocks
Regular block intervals reduce the frequency of orphaned blocks.

No Time Warp Exploit
A reduction in selfish mining Together, these improvements help makeBelacoin better for the average user. The days of waiting 12-36 hours for a Belacoin transaction to go through will be over, and regular 2-minute block times will make Belacoin competitive with other fast altcoins.

[ontopicplease]

Hi, I just downloaded the wallet. But it's not syncing, saying no blockchain available. Is there anyone who can explain?

[mkmdoc]

I should have waited, had 145k BEAUTIFUL and sold at the price of nothing! Something around $0.015...
I would go back in time!

We're still doing great things. If you want to get involved in the Belacoin community, come check us out at http://Belacoin.herokuapp.com. We're integrating Dark Gravity Wave very soon, and we have Belacam Gamma coming out soon as well.

We have a strong belief on Belacoin, once Belacam Gamma is out meant then the price Belacoin will be raised again.
Still, I am holding coins for future income from Bela. I will support the developments of what Belcoin is doing till now.