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Eatbatterys (OP)
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April 14, 2018, 09:01:58 PM
Last edit: April 14, 2018, 09:46:37 PM by Eatbatterys |
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After much deliberation the Bulwark team has decided that going forward we will be moving to Proof-Of-Stake. Please see the attched blog post for our thought process:
https://bulwarkcrypto.com/bulwark-proof-of-stake/
We thank you for your patience and understandingQ: Is PoS activating 6 months from now? A: Proof of Stake is activating 6 months from the launch date. So around another 2 months on block 172800 (Approximately June 6th, 2018.) Q: Is mining still possible? A: Yes, mining is still possible up until block 172800. Q: Will we need to update wallets/Masternodes? A: Yes, we will provide a new wallet and update the Masternode script when the wallet is ready. Q: But the vote said an algorithm change was going to happen. A: This vote was not a guarantee that any particular choice will be implemented by The Bulwark Team. It was a means to gauge community interest in each option to be taken into consideration while we discussed internally. Q: Are the block rewards changing? A: No, Block rewards will stay the same, but the see-saw reward system will activate on block 172800. Q: What % of rewards will I expect during Proof of Stake? A: There is no way to accurately calculate your rewards until PoS activates. It depends on how much is locked up in staking, and how much is locked up with MN's.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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homey108
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April 15, 2018, 04:00:55 AM |
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Good. Let's hope the network remains stable until the change takes place. Then you guys can work on the road map instead of fighting to defend the chain against miners and concentrated hash power. Much better use of your time and energy in my opinion.
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bspus
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April 16, 2018, 03:37:42 PM |
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Why is cryptopia wallet on maintenance again?
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Eatbatterys (OP)
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April 16, 2018, 04:27:42 PM |
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Why is cryptopia wallet on maintenance again?
Haven't the slightest idea. CoinInfo states they're restarting the server though it's been about 10 hours now. I've got multiple messages/emails into them in an attempt to figure out what's going on. |
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Apelsinus
Copper Member
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April 16, 2018, 08:41:34 PM |
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Mine Bulwark with happypool.cc-a nist5 -o stratum+tcp://happypool.cc:3833 -u WALLET -p c=BWK
0.5% fees, no registration Stay comfy & Be happy!
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RivAngE
Full Member
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Activity: 728
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What doesn't kill you, makes you stronger
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April 16, 2018, 08:48:43 PM |
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Why is cryptopia wallet on maintenance again?
Haven't the slightest idea. CoinInfo states they're restarting the server though it's been about 10 hours now. I've got multiple messages/emails into them in an attempt to figure out what's going on. Gotta restart the server!  |
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Eatbatterys (OP)
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April 17, 2018, 12:37:21 AM |
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Cryptopia is finished with their server restart/maintenance process. Bulwark deposits/withdrawals are opened again.
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dude77
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April 17, 2018, 01:00:08 AM |
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Thanks for posting the update, it does seem that cryptopia withdrawals are working again
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phucngungoc
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April 17, 2018, 05:52:04 AM |
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Cryptopia is finished with their server restart/maintenance process. Bulwark deposits/withdrawals are opened again.
After much deliberation the Bulwark team has decided that going forward we will be moving to Proof-Of-Stake. The decision is that we will be pushing PoS up to block 172800 (Approximately June 6, 2018). Proof-of-Work will remain as is until the new PoS activation time passes. This entire process will NOT affect masternodes whatsoever. Please see the attached blog post for our thought process: https://bulwarkcrypto.com/bulwark-proof-of-stake/We thank you for your patience and understanding |
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ztaz
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April 17, 2018, 06:05:57 PM |
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"patience and understanding" - it is good of course, but it is possible in more detail what exactly causes such a decision ?? developers do not cope with the tasks assigned or the main investors have decided so or ...
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BWK_VoxTerra
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April 17, 2018, 07:15:28 PM |
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"patience and understanding" - it is good of course, but it is possible in more detail what exactly causes such a decision ?? developers do not cope with the tasks assigned or the main investors have decided so or ...
All that detail is gone in to in the link EatBatteries provided. It's fairly long and goes over the character limit for most of our platforms. https://bulwarkcrypto.com/bulwark-proof-of-stake/ |
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bspus
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April 17, 2018, 07:46:12 PM |
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It is not clear to me from the announcement (I read the link too)
How will PoS affect the supply per block? Will it be as predictable as with PoW or will rewards per block be partly random?
While it says the governance/budget will not be affected, I assume that refers to masternodes.
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Eatbatterys (OP)
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April 17, 2018, 08:57:05 PM |
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It is not clear to me from the announcement (I read the link too)
How will PoS affect the supply per block? Will it be as predictable as with PoW or will rewards per block be partly random?
While it says the governance/budget will not be affected, I assume that refers to masternodes.
As far as the block reward schedule is concerned, that is not changing. The governance system (10% of block rewards being put into a super block to be awarded monthly based on masternode votes) will not be changing and will still not be activated until the end of year one as initially planned. I'd suggest you do some reading on See-Saw from pivx. Essentially, what happens is PoS and Masternode rewards will shift based on the percentage of supply locked in masternodes at any given time. It inherently benefits masternodes more than staking. The "sweet spot" where masternodes rewards = staking rewards (for a comparable amount of coins) is around 41% supply locked in masternodes. Any more than that, staking rewards are more profitable. Any less than that, masternodes are more profitable. |
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Eatbatterys (OP)
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April 17, 2018, 11:52:34 PM
Last edit: April 18, 2018, 12:34:17 AM by Eatbatterys Merited by Dabs (2), bones261 (1) |
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Update 1.2.4 https://github.com/bulwark-crypto/Bulwark/releases/tag/1.2.4Quick Changelog: - The DNS Seeders have been fixed, it is no longer necessary to add nodes to your bulwark.conf file - Hard coded seeds have been replaced with more reliable seeds - Onion nodes have been included in the list of seeds for a future update For Wallets: Download new 1.2.4 binaries. Shut down Bulwark wallet. Launch with the new qt. For Masternode Operators: You can update your nodes with the following command in the VPS: bash <( curl https://raw.githubusercontent.com/bulwark-crypto/Bulwark-MN-Install/master/update_node.sh ) Note: Performing the update on your masternode's VPS will not interrupt your payments or require you to restart your masternode in the wallet. This update is not mandatory but will strengthen the network and help us proceed with further testing. |
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Eatbatterys (OP)
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April 20, 2018, 06:23:25 AM |
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Please keep in mind the Bulwark Team does not endorse or condone any masternode sharing or setup services due to the intrinsic risks they could potentially pose to our community.
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BulwarkCoin
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The Bulwark Block Explorer is done being tested and is officially launched! Check out our blog post here: https://bulwarkcrypto.com/release-bulwark-block-explorer/Features: o Totally re-imagined UI with user experience prioritized o Dashboard with widgets for essential information o Watch list for keeping track of specific addresses o Live feed of transactions o Mobile friendly elements and layout o Statistics page for charting hash, transactions, price and masternodes o Includes all other features commonly expected from a Blockchain Explorer Frontend Stack: o NodeJS o React.js o Redux o SASS o Webpack Have a great weekend everyone! |
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BulwarkCoin
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April 20, 2018, 09:47:12 PM |
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scionscape
Newbie
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April 21, 2018, 01:58:23 AM |
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Oh, yeah, this is what I have been waiting for.... thank you! |
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Ferminer
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April 21, 2018, 01:48:25 PM |
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After much deliberation the Bulwark team has decided that going forward we will be moving to Proof-Of-Stake. Please see the attched blog post for our thought process:
https://bulwarkcrypto.com/bulwark-proof-of-stake/
We thank you for your patience and understandingQ: Is PoS activating 6 months from now? A: Proof of Stake is activating 6 months from the launch date. So around another 2 months on block 172800 (Approximately June 6th, 2018.) Q: Is mining still possible? A: Yes, mining is still possible up until block 172800. Q: Will we need to update wallets/Masternodes? A: Yes, we will provide a new wallet and update the Masternode script when the wallet is ready. Q: But the vote said an algorithm change was going to happen. A: This vote was not a guarantee that any particular choice will be implemented by The Bulwark Team. It was a means to gauge community interest in each option to be taken into consideration while we discussed internally. Q: Are the block rewards changing? A: No, Block rewards will stay the same, but the see-saw reward system will activate on block 172800. Q: What % of rewards will I expect during Proof of Stake? A: There is no way to accurately calculate your rewards until PoS activates. It depends on how much is locked up in staking, and how much is locked up with MN's. Super! I fully support the decision of the team. |
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RivAngE
Full Member
Offline
Activity: 728
Merit: 169
What doesn't kill you, makes you stronger
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April 21, 2018, 05:07:08 PM |
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I can't help but wonder... why does the transition have to be scheduled 2 months in the future? If you've tested what you're about to implement, wouldn't just 1-2 weeks be enough?
Or are you aiming for a specific amount of supply before you change into POS? I'm a bit curious about that part of your decision.
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