25-05-18 Weekly Announcements

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CryptoCentric
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25-05-18 Weekly Announcements

Post by CryptoCentric » Wed Jun 06, 2018 12:37 pm

Hi everyone here is your weekly announcement!

Wallets – Version 12.2.2a
So the time has finally come to release our first wallet! This will be released at 9am GMT on the 30-05-18. The functionality from the old wallet will still function and transactions will be accepted across versions. It is however important that we get everyone on to the new version as soon as possible, we need to move away from the old development teams code and on to ours. We would recommend that cold and hot wallets are updated at the same time.

Governance
In this new release we will be activating a 10% Decentralized Governance Budget. This 10% allocation will be added to the existing reward structure. So Masternode and mining rewards will not change. Governance will allow superblocks to be enabled, these superblocks will collect the 10% budget per block and then help fund the coin regarding development, infrastructure, community wages, and exchange listing fees.
Governance will be activated at block 98,800, superblocks will be issued every 7,300. This will mean that they will be issued every Friday afternoon at the beginning and will allow us to have multi proposals voted on over the month.

The first proposal will be closed and issued at block number 106,100

This is a short term arrangement and we will increase the block spacing to 14,600 and then 29,200 over time. These numbers are based on 90 second block timings.

Rebranding
We have a new logo! Thanks to everyone that helped with this, we are waiting for 3rd parties to update but hopefully this will be completed soon.

Mining Pool
We have spooled up a new server and will be creating our own mining pool. More details on this next week.

Whitepaper and road map
These are still in being worked on but we will get them out as soon as we can. I know a lot of people are looking for the detail here, so we are working as fast as we can to get this completed!

Here is another teaser on the wallet update! The Masternode collateral in this version update is unchanged at 1,000 ABS. We will be adding the increase to the next version release which will be in a months time.

When Governance is enabled, Sentinel will be mandatory. If your node is not enabled you will not be able to receive rewards.

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