Golos Blockchain Hard Fork 22 Announcement

in #blockchain4 years ago

The hard fork code for the final release is to be delivered by the end of this week https://github.com/golos-classic/golos/tree/golos-v0.22.0. Meanwhile, we would like to inform you about its contents:

Workers system

This functionality is aimed at motivating users to take part in Golos Blockchain development by creating new apps, web clients, games, bots, documentation, marketing activities etc.

@workers special account can be replenished by simply sending tokens to it. This might come in handy when the community will be deciding on the fate of 30 million GOLOS tokens from the reserve fund (a part of this amount is likely to be sent to the workers pool).

It is important that not only witnesses but every participant of the community will be able to vote for or against the proposals.

Emission distribution parameters

The witnesses will be able to change the parameters of % allocation of the emission to the pools (worker_reward_percent, witness_reward_percent, vesting_reward_percent). By default the distribution will go as follows:

Workers poolWitnesses poolVesting poolAuthors pool

The restrictions on the following parameters will be removed: % profit of Golos Power delegation max_delegated_vesting_interest_rate and % of the curation reward min_curation_percent. The number of daily upvotes parameter vote_regeneration_per_window will be made votable by the witnesses (by default it is 10, as on Steemit).

Changing the principle of voting for the witnesses

The principle of voting for the witnesses will also be changed. Now a user can support 30 witnesses by voting for them with the whole weight of his or her GOLOS POWER stake. After the hard fork the whole amount of the GP stake will be distributed among the supported witnesses. For example, you have 30 000 GP and you vote for 3 witnesses. This way, you will support each witness with 10 000 GP.

Another change introduced to the code will touch upon the witnesses who signed their last block 12 or more months ago (the exact term is votable by the witnesses). Votes for the inactive witnesses will be reset automatically.

GOLOS POWER autodownpowering for inactive accounts

In case an account hasn’t been active for 12 months (the term is votable by the witnesses), which means hasn’t performed any activities using its active key, the delegation is cancelled and the mechanism of downpowering GOLOS POWER in liquid GOLOS tokens is launched. Thus, such accounts won’t influence the witnesses rankings and won’t receive vesting % from the emission, while taking zero participation in the project.

Fixing the GBG debt problem

As you know, GBG token is neither issued anymore, nor backed by the system conversion in GOLOS tokens at the price of 1 mg of gold.

Some members of the community came forward with the idea previously considered as an economic recovery for Steemit: https://steemit.com/steem/@dantheman/steem-dollar-stability-enhancements. The hard fork suggests precisely this implementation: when the amount of the debt exceeds 20%, the mechanism of daily conversion is launched: every day 1% of all the available GBG tokens is converted in GOLOS tokens.

With the current amount of the debt, such a conversion in 100 days will bring the system to 20% debt level.

We believe this hard fork will contribute to making Golos Blockchain more sustainable and more attractive to its participants in the long term.

The original post can be found here https://golos.id/ru--golos/@lex/anons-22-khf-golos-blockchain

Golos Blockchain - https://golos.id/


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