Development Update #3https://i.imgur.com/RPRYAoP.png We've made some changes to the codebase as an attempt to to speed up the network. These are added to the review branch on github (though they should not be used as an updated client as of yet). See the changes
here. We're currently testing these change on a private network to ensure the integrity of your investment is not damaged by a rushed update. When we're satisfied with the result, we will switch this to master and announce the necessary update. I'd like to stress that this is
not production ready code.
https://i.imgur.com/RPRYAoP.png We've invested some personal bitcoin into purchasing Vault and have reached a point where we're much more satisfied with the health of the network and the regularity of the blocks. Thanks for your patience during this time, and thanks to the others that have staked for no reward.
https://i.imgur.com/RPRYAoP.png Fixes to the ppcoin codebase are nearing completion, staking rewards are likely to be activated within the next few days. We're currently weighing up whether we can simultaneously roll out the VaultNode beta with the staking reward updates, or if it would be better to jump into plain POS and introduce VaultNodes later. The decision will come as the result of testing currently taking place.
https://i.imgur.com/RPRYAoP.png We are aiming to whitepaper the minutia of VaultNodes, but since I'm writing an update I'd like to give a little insight into what you should expect. Regular staking for VaultCoin was set to be 200% p.a., however this does provide a fairly intense level of inflation. Instead we have decided the regular staking reward is due to be 40% p.a, with VaultNodes providing a more attractive rate. A VaultNode acts as an untouchable 'safe' for coins, by committing
x amount of Vault to a VaultNode for
y blocks, you will receive a preferential POS reward. In effect, you are rewarded for dedicating staking power for a fixed period of time. The specifics of this and technical details are in prep for announcement this week.
https://i.imgur.com/RPRYAoP.png Finally, we're also aiming to provide a roadmap for the development efforts within the next 24 hours. As soon as the other developers finish work, we'll be putting our thoughts down onto paper for you to consume the bigger picture, and give some details of our project that follows on from VaultNodes.
Thanks once again.
See code changes: (github)https://i.imgur.com/RPRYAoP.png https://i.imgur.com/RPRYAoP.png https://i.imgur.com/RPRYAoP.pngDevelopment Update #2https://i.imgur.com/RPRYAoP.png New wallets released, updated to 1.0.4, with links added to the main post. This includes a
mandatory update before block 2880. We have sent emails to relevant pools to make sure the correct fork is used beyond the Proof Of Work period.
https://i.imgur.com/RPRYAoP.png We have anticipated a further issue with the proof of stake function from the previous codebase Vault is forked from. We'd like to summarize the complexity of the issue before going into detail about how we're going to handle it and maintain network integrity.
Since the original codebase is a modification of ppcoin, the value of COIN is only 6 decimal places. When used with the low supply of Vault, this raises an issue with stake rewards. In more detail, the transactions generated as rewards for low balances supporting the Vault network via staking will be below 0.000001, and therefore will effectively have no PoS reward for smaller balances (due to the internal integer representation).
As a quick fix to allow staking users to see reward, we could increase the stake reward by a multiplier, but we would prefer to instead stick to the original technical outline for Vault.
Further complexity is raised when attempting to alter the value of COIN, which is a very delicate variable, highly integrated into the core codebase. It is certainly not something we'd like to be pushing fixes for with limited time until the PoS switchover. A full fix to this issue will require a codebase cleanup, thorough checks and a little stress-testing, something we'd like to take a period of time to complete to a level we're confident with.
For these reasons, we have decided to implement a temporary repression of staking rewards until we are satisfied with a cleaner, bug-free codebase. What does this mean for you?
Well, not much, besides a short period of staking with zero reward. The core members of the development team have managed to mine around 22 Vault which we will commit to staking 24/7 during the zero reward period, allowing the network to continue it's mobility and allow transactions to confirm as normal. We are already working on the permanent solution, and integrating this solution with VaultNodes, which is the first novel unique innovation we're implementing into Vault.
Please remember, this update is mandatory. Any staking you perform with previous clients will exist on a fork that is not valid to the main network. We will provide another update when the permanent fix is prepared for public upgrade.
Thank you for your continued support, we hope that we have displayed a devotion to the continued development of Vault and the avoidence of problems before they occur.
https://i.imgur.com/RPRYAoP.png Approaching the end of the Proof Of Work period, only 100 or so blocks remaining to mine.
https://i.imgur.com/RPRYAoP.png We are preparing a documentation of future development plans, including an explanation of VaultNodes, and additional technical contributions, but would like to fix the ppcoin codebase's staking issues before we proceed with announcing the more complex developments.
Thank you.
See code changes: (github)https://i.imgur.com/RPRYAoP.png https://i.imgur.com/RPRYAoP.png https://i.imgur.com/RPRYAoP.png Development Update #1https://i.imgur.com/RPRYAoP.png New wallets released, updated to 1.0.3, links in main OP. This includes a hard fork at block 2350. We have sent emails to relevant pools to make sure no hashing time is lost.
https://i.imgur.com/RPRYAoP.png We anticipated an issue with staking, and have thus corrected the staking reward via the hard fork due to arrive at block 2350. This is a fix of the staking modifer interval, and also cleans up some issues with the code of the coin we originally forked.
https://i.imgur.com/RPRYAoP.png Fixed anticipated problem with difficulty reset for Proof Of Stake switchover.
https://i.imgur.com/RPRYAoP.png Corrected the height for staking GUI.
https://i.imgur.com/RPRYAoP.png Checkpointed in new wallet release.
Thanks for your patience and continued support!
See code changes: (github)
