While our progress with the Business Platform is moving forward in the background, we expect to finish and start testing it by the end of september. Until then, we have some exciting new developments to share with you. After roughtly talks with our community, we decided to change the specification of the network. We think this is an important update for our future plans and also for the long run benefits.
Starting from block 300,000 Seesaw algorithm will be removed, coin emission rate will be decreased, masternode collateral will be increased and block rewards will be adjusted to: 70% for MNs and 30% for stakers.
New specifications:
from block 300,000 to block 386,400 9 synx per block (2 months) → MN Collateral: 5,000
from block 386,400 to block 472,800 8 synx per block (2 months) → MN Collateral: 10,000
from block 472,800 to block 559,200 7 synx per block (2 months) → MN Collateral: 15,000
from block 559,200 to block 645,600 6 synx per block (2 months) → MN Collateral: 20,000
from block 645,600 to block 732,000 5 synx per block (2 months) → MN Collateral: 25,000
!!! Once you start your Masternode with the Current Required Collateral (5.000 SYNX), your Masternode STAYS RUNNING when collateral increases. If you stop your Masternode and want to start a new one in the future, you will need to have the Required Collateral.
Besides this important update, Luka is working on wallet improvements and minor bugs fixes.
Whats coming next ?
1. A brand new explorer which is expected to be available before the end of September
2. Business Platform release which is expected for the month of October
3. A wallet redesign for a better user experience before the end of the year
Just to clarify please, so if my MN is running past block 386,400 (10,000 collateral point) and then my VPS crashes and I have to re-start my MN, I need to increase the collateral?
From what I understand, that will be the case if your VPS accidentally crashed and the running block is past 386,400. You need to buy more SYNX according to the existing required collateral to be able to run your MN again. This, somehow, will promote long term hodling of our MNs but the problem is those occasional VPS problems.
Looks like the last quarter of this year will be very busy for this coin. New updates in the coming months and hopefully, this will truly improve the status of this coin in terms of progress and usefulness. People should increase their number of MNs especially when the required collateral is still at 5000 SYNX.