13-07-18 Weekly Announcements

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CryptoCentric
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13-07-18 Weekly Announcements

Post by CryptoCentric » Mon Jul 16, 2018 9:40 am

Hi everyone here is your weekly announcement!

Wallets – Version 12.2.3a
The release date for version 12.2.3a is now a week away (21-07-18). The main updated in this release will raise the Masternode collateral from 1000 ABS to 2500 ABS.

From our point of view in Development, we are now ready for the release after two weeks of testing. It’s important that you are ready for this release as well, so please make sure you have the correct collateral for the 21st as soon as possible.

This release is a mandatory upgrade which also requires Sentinel V1.2 to be installed and enabled.
After the 25th the minimum protocol spork will be enabled, this will mean that old Masternodes will no longer be recognised on the Masternode list. At this point all old Masternodes will no longer receive rewards and must be upgrade to 2500 ABS to continue to work.

Sentinel
We have released a new Sentinel version (V1.2) which is available on Github. Sentinel (V1.2) works with all wallet versions, so it can be installed now ready for the update next week.
Link: https://github.com/absolute-community/sentinel

Using Sentinel on Linux
After deleting the old version of sentinel (Sentinel Folder within .absolutecore) on your VPS. Following the install guide, will automatically pull the latest version for you.
Link: https://github.com/absolute-community/a ... l-on-linux

Using Sentinel on Windows
This is a simple update by replacing the sentinel.exe with the newer version, this can be downloaded here: https://github.com/absolute-community/s ... /tag/1.2.0

Pool
We are currently configuring our own mining pool which should be online next week. This has been a goal for a while, but will be a priority once the wallet release is in place. We will also supply more details for the existing pools within Discord, so people are aware of all available pools mining ABS.(edited)

Portal
We are still configuring a new portal, this has been an ongoing project for some weeks but should hopefully see some further development and testing over the next week.

Guides
We are going to update all guides ready for the new release, this will be completed early next week.

Funding
Thanks to @everyone that has contributed to the community exchange fund over the past week, please donate if you haven’t already done so.

BTC - 3PFFjG6znD8LFD6RABsVGQTgoNMjh8J51Z
https://blockchain.info/address/3PFFjG6 ... oNMjh8J51Z

ABS - AYVmoN6NUE5zEb6rg6tGZUrwk4toWYwqdT https://explorer.absolutecoin.net/addre ... k4toWYwqdT

Projected Proof of View Rewards Teaser
We have been conducting analysis on the POV projected rewards from our advertising goals. Here is a brief summary of the analysis.

Based on analysis tied to figures produced by Price Waterhouse Coopers, online advertising turnover is currently at 40 billion Dollars. This is a just one of a few key areas that ABS will target. As a goal, if we could cover 0.01% of the market within 3 years, this would relate to the following rewards for Proof of View Masternode holders.

These figures are based on a 120 second block reward from when the new mainnet goes live (assuming that will be on the 14th of August for ease of calculation). The reward structure would also halve annually.

Year 3 POV Estimates

Release Per Year
Year 1 = 9,198,000
Year 2 = 3,942,000
Year 3 = 1,971,000

Year 3 coin supply = 15,111,000 ABS
70% Locked into Masternodes of supply = 10,577,700 ABS

50% of Masternodes are POV enabled nodes at 10,000 collateral = 5,288,850 ABS

POV turnover = 400,000,000 Dollars

4.06% estimated revenue from POV network = 16,240,000 Dollars

Estimated maximum Masternodes / POV revenue = 16,240,000 / 528 = 30,757 Dollars

30,757 Dollars plus the standard block reward per Masternode .

The numbers are just estimates at the moment but it will give you an understanding of where we are aiming mid-term.

Hope everyone has a good weekend! More to follow on the new release soon!

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