19-05-18 Weekly Announcements

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19-05-18 Weekly Announcements

Post by CryptoCentric » Mon May 21, 2018 10:35 am

This week we have continued to test our new wallet ready for the forth coming release. All going well we are aiming to release the wallet at the end of the month.

Masternode Collateral
The voting has now closed regarding the Masternode Collateral. So the results are:

1000ABS – 21 Votes
2500ABS – 87 Votes

We will look at the best way to implement this, one approach would be to introduce a tiered Masternode system in either the forth coming release or the one after.

This system will allow new 2500 Masternodes to be setup but continue to allow 1000 Masternode to function. Rewards for the 1000 Masternodes would then be phased out over a period of time allow members time and incentive to adjust to the new system.

The second vote regarding the coins reward structure is still open for debate, as this was not a binding vote.

Thank you to everyone that voted here, we value your input!

We will be activating governance on the next release, this will allow us to activate superblocks which will pay into the community fund. This will allow us the fund the coin correctly going forward and provide a secure way to vote for new coin proposals.

We plan to release a superblock at the beginning of every month, in block number terms this would be activated every 29,200 blocks. Starting for either block number 98,800 or 128,000. These number are based on a block time of 90 seconds.

Block timing
We are going create a proposal of alter the block timing, currently we have a block time of 90 seconds. We will be looking for consensus to raise the block time to 120 seconds.

This will allow us the prolong the life of the coin in the long term, slower blocks will also improve network stability.
Tier Masternode proposal
We will be beginning a proposal for the tiered Masternode system consisting of at least4 levels. Look out for more details on this over the next couple of days.

Rebranding has been completed
Thanks to everyone that participated in this, we will be rolling out the redesign shortly!

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