Re: **[ANN] Beacon PoS/MN - One Coin, One Ecosystem [BECN]**
Beacon Update and Coin Burns
It's no secret we've had a tumultuous first 9 months to the project. Things change, get removed/altered, get brought back to life and the cycle of adaptation continues. What really matters is myself and the team are still here, still present everyday in our community (Discord), and we have no intentions of walking away from what we have built.
We are still very much excited about our partnership with AltBet allowing us to bring back the Beacon Arcade and launching it in the near future. We are still excited and working towards our other projects but right now the masternode market is suffering. Due to the relatively small size of the masternode market, a handful of ill-intended developers have spent the past 1.5 years bleeding this niche of the market dry. It has created massive collateral damage in the form of hurting other, well-intended projects.
Like I've said many times before, we are a stubborn bunch. We will see this through and survive the coming MN apocalypse. Survival is our current top priority while we work on bringing exciting news to the community and the project.
Coin Burn
After we executed the swap and took care of the community, I have made it a priority to begin reducing the coin supply. One side of this was reducing rewards, creating a lower ROI in the current range of 50-60%. The next step was creating a net negative emission rate by burning coins. Since the swap, we have generated ~88,000 BECN through block rewards. In that same time we have burned 200,000 BECN. You can find those burn addresses (all capped at 25,000 BECN to maintain decentralized distribution) on our block explorer
https://beacon.exp.monitorit4.me/richlist
Once the Beacon Arcade launches we will be implementing Proof of Consumption. PoCon is something I wrote about in detail last year, in coordination with the Trittium project. Trittium has fully implemented PoCon and is producing great results for them.You can read about it here:
https://medium.com/@peasantforhire/proof-of-consumption-and-the-age-of-utility-b6fa034e1343
That's the current update for the Beacon project. If you have any questions, head over to the Discord server.
It's no secret we've had a tumultuous first 9 months to the project. Things change, get removed/altered, get brought back to life and the cycle of adaptation continues. What really matters is myself and the team are still here, still present everyday in our community (Discord), and we have no intentions of walking away from what we have built.
We are still very much excited about our partnership with AltBet allowing us to bring back the Beacon Arcade and launching it in the near future. We are still excited and working towards our other projects but right now the masternode market is suffering. Due to the relatively small size of the masternode market, a handful of ill-intended developers have spent the past 1.5 years bleeding this niche of the market dry. It has created massive collateral damage in the form of hurting other, well-intended projects.
Like I've said many times before, we are a stubborn bunch. We will see this through and survive the coming MN apocalypse. Survival is our current top priority while we work on bringing exciting news to the community and the project.
Coin Burn
After we executed the swap and took care of the community, I have made it a priority to begin reducing the coin supply. One side of this was reducing rewards, creating a lower ROI in the current range of 50-60%. The next step was creating a net negative emission rate by burning coins. Since the swap, we have generated ~88,000 BECN through block rewards. In that same time we have burned 200,000 BECN. You can find those burn addresses (all capped at 25,000 BECN to maintain decentralized distribution) on our block explorer
https://beacon.exp.monitorit4.me/richlist
Once the Beacon Arcade launches we will be implementing Proof of Consumption. PoCon is something I wrote about in detail last year, in coordination with the Trittium project. Trittium has fully implemented PoCon and is producing great results for them.You can read about it here:
https://medium.com/@peasantforhire/proof-of-consumption-and-the-age-of-utility-b6fa034e1343
That's the current update for the Beacon project. If you have any questions, head over to the Discord server.