Public Beta Test v0.2.0Hello everyone,
I'm proud to announce the public beta test of Crypti v0.2.0! With our biggest update so far we introduce DPoS (Delegated Proof of Stake) as our consensus mechanism, which allows us to deliver a user-friendlier experience to all of you!
What is DPoS?With the DPoS system there are 101 so-called "top delegates". Top delegates are nodes which are running the Crypti software and thus securing the network. This allows a very short block time, resulting in a better user experience. It is now possible to receive and send transactions within only 10sec, after just 10 blocks (100sec) you can assume that these transactions are fully confirmed within the network. It is important to know, that the block time is fixed! That means that after exactly 10sec a new block is forged, there are no delays (like in Bitcoin). With this we can fully focus on merchant adoption later on, as this topic is always a critic point at other crypto-currencies.
Where is the difference between a "top delegate" and a "standby delegate"?A top delegate has a rank between 1 and 101. He is actively securing the network. A standby delegate does nothing, he just waits for enough votes to replace a top delegate. Top delegates get fees for forging blocks, while standby delegates get nothing.
How does a delegate become a top delegate?By you! Every single Crypti user has the power to vote for their favourite delegates. 1 XCR has a voting weight of 1. That means if you own 100,000 XCR your voting weight is 100,000. As there are 100,000,000 XCR you would own a voting weight of 0.1% in total. Every voting procedure costs 1 XCR to you, in order to keep these fees as minimal as possible, you can vote for up to 33 delegates at once for the same fee of 1 XCR. If a delegate doesn't provide a good service, you can also remove your vote from him, again up to 33 delegates at once for the fee of 1 XCR is possible here.
When does a top delegate not provide a good service?The delegates are the backbone of the network. A cycle consists of 101 blocks, in which every delegate should forge one block. If a delegate is offline in exactly the moment he should forge a block, it is not possible for him to forge it and it will take 20sec for the confirmation of a transaction. That's why it is very important to remove your votes for these "bad" delegates and vote for the ones with the closest to 100% uptime. You can see in the client how well a delegate performs.
How are the fees distributed?We wanted to remove the lucky factor in the forging process. Our solution offers a consistent profit for the top delegates. What does it mean? As you know from above a cycle consists of 101 blocks. Many of these blocks will be empty, especially with a short block time like ours. In order to make a consistent profit every top delegate will receive the same XCR in every round.
A small example:
Block 1 - Forged by delegate A - With 100 XCR fee added to the pool
Block 2 - Forged by delegate B - With 800 XCR fee added to the pool
Block 3 - Forged by delegate C - With 100 XCR fee added to the pool
Block 4-101 with 0 XCR fees - Forged by the other 98 delegates
= 1000 XCR total fee in the last 101 blocks
At other forging based crypto-currencies the delegates A/B/C would be very lucky in this case. But in Crypti all 101 top delegates (if they were online) will receive the same amount (the average of the fees - 10%* of the last 101 block). In this example the top delegates will all get about 9 XCR. We are very happy about this system, as it will benefit every delegate the same.
* 10% goes to the Crypti Foundation, as a form of constant money stream for the future to continue developing the platform. These funds will be used fully transparent. After the launch of v0.2.0 (mainnet) they accounts will be made public.
Beta testingIt is possible to do two different beta tests.
Experienced UsersIf you are an experienced user, we are asking you to install the
client (linux only for the beta test). With it you can check everything you want; like delegates, forging, voting and so on.
If you are one of these experienced users please get in contact with
Boris or Sebastian. They will provide you with the necessary amount of votes, amount of testnet XCR or whatever you need.
Normal UsersIf you are a normal user and simply want to check out the new client, you can simply head to
http://testnet.crypti.me. There you can create a new account like always. In order to get a few testnet XCR to start playing around, write
Litoshi or
me a PM with your Crypti address. Litoshi or I will then send you some testnet XCR to test everything. Sometimes it can take a few hours until I answer. Please be aware of that, else you can also ask in this thread for some testnet XCR, someone else might be faster than me.
For this purpose I will provide some well-known Crypti community members with some testnet XCR in order to distribute them to you.
Testing time frameWe can't give an exact time frame yet. If all things go well, we can release it sooner than later. Please be aware, that the Bter withdrawals will be enabled the following days, only after this we can release v0.2.0.
IMPORTANT - Difference between testnet XCR and real XCRThe XCR you will get in order to test the new client and UI are not real XCR! They are only valid on the testnet and can't be send to Bter or a real Crypti address on the v0.1.9 network.
Download Crypti v0.2.0 BETA for Linux 
