Re: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg
Hello guys, can answer help me? I want to know about block size, reward block for miners and do we have masternode, supernode or something else? thanks a lot 
Block size: Good question. From doing a search I found David mentioning that BitBay is similar to Bitcoin in blocksize - yet we have a 64 second block time
Reward blocks will soon be roughly 20.5 Bays per block. Hope to have that update corrected within the month. This amount auto adjusts as it's based on 1% of the total supply. So as supply increases so will the block reward in retrospect. 1,007,611,188 BAY currently in circulation with 64 second blocks at 1% APR = 20.4487 per block
Nothing is set in stone with the current APR of 1%. There has been discussion of creating a variable APR rate in conjunction with the rolling peg to further strengthen price stability.
We do not have Masternodes. We feel they have a tendency to centralize a coin. Coins that use masternodes to steer development are only going to look out for the 'masters' own best interests.
BitBay has the first user friendly decentralized voting consensus built into the wallet. This system allows for anyone with coins to vote - not just the elite rich. This provides opportunity for the "majority" to cast their voice on new innovations not just the elite 'masters' (sounds so cliche saying that in cryptoland).
Thanks for the perfect answer. Can i know more about pegging? Easy to understand that is to avoid inflation for BAY right?
The basic design of it is:
Have a system in place that freezes or liquefies coins in everyones' wallets at a proportional level based on price volatility.
These price corrections will be achieved through the use of our decentralized voting consensus. If people choose not to vote then their wallets will by default vote to allow an algorithm decide whats best for the system.
This freezing and liquefying will create coins of various values. You will have premium high liquidity coins and lower value highly frozen coins.
These frozen coins can still be sold but with timelocks (CLTV), this will create a futures market for BitBay coins - the first of it's kind - where speculators will be able to buy up frozen coins in hopes that upon timelock maturity they will be worth more than they bought them for.
Exchanges will be enforced to utilize an API to track the frozen/liquid coin ratio. They will have multiple API's to choose from. The more advanced will be more accurate price reflections, while the lazier ones will become more of a pool causing traders to lose potential profits. Since the coins can be used as a new hedging tool for traders, I think exchanges will like the new volume it creates. Since we are a rolling peg we don't have to guarantee a definitive price, this allows for price still to swing just not in a volatile manner. With these small price swings it will allow for traders to potentially maximize their compounding interest affect! While hard pegged coins have to remain constant (hopefully)
Should create for one of the most exciting and lucrative trading games on the planet!
Hope this helps explain in a nutshell. We will release whitepaper on this in a couple months.