Golos Blockchain Hard Fork 23 Announcement
The code for the next protocol update is ready. The hardfork is scheduled for May 25, 20.00 Moscow time. In the meantime, we’ll let you know about the changes that it brings about.
Reward system (donations)
The incoming percentage of the emission of blockchain tokens to GOLOS POWER will accumulate on the intermediate/accumulative CLAIM balance of every user.
Within the period set by delegates, the users will be able to claim their share with the option of either to top up their GOLOS POWER with it or to withdraw it to a separate TIP balance and use it for rewards.
Using this balance, the users will be able to reward a post / comment / author or any other activity to which the developers will link the new 'Donate' operation (for example, the users can reward each other with GOLOS tokens in messengers, games, and so on).
If the users don’t claim their tokens within the time limit set by delegates, their share of the emission will be sent to the workers’ fund for further development of the project. Each GOLOS user can submit an application to the workers’ fund to implement his or her development ideas or create other benefits for the project. Also, each user can influence the funding of the applications by voting to increase or to decrease it.
Reducing the powerdown period of GOLOS POWER
Taking into account the transition to the new donations system, the delegates plan to adopt this change as a compromise as well. The powerdown period of GOLOS POWER will be reduced from 13 to 8 weeks.
Earlier the delegates relied on the following alleged advantages of the longer powerdown period: it will prevent market speculations and will keep involved in the project those users who decided to leave it. However, time has proved the inconsistency of such an approach.
Users will be able to create cheques/codes for any number of liquid tokens available on their balance. A cheque contains a pair of keys: the public and the private one. With the public key, you can check your balance. Private keys are used for receiving funds.
With these cheques, you’ll also be able to register new accounts and to attract to the project content creators from other sites or chats where bots with the above-mentioned donations mechanics will be used. Tokens will be allocated from the workers’ fund for such targeted marketing and to create invites with a starting balance.
By using the cheques, it will be easier to sell/buy GOLOS tokens via digital content platforms, print them out as QR codes, and do many more operations.
GBG token emission
The changes will also affect the stablecoin of GOLOS: the GBG (GOLD BACKED GOLOS). When the emission of the GBG tokens will be resumed, they will be sent to the workers’ fund to be further distributed among the applications according to the results of the community vote.
Changes to the referral program
Changes were introduced to the referral program, now it applies to donations as well.
Soon users will be able to attract new authors and receive 10% of the donations sent to them within 6 months.
The protocol update will fix some bugs as well: restarting the docker container of a node, starting a node with a mongo plugin, skipping blocks when processing a lot of operations, and others.
To get to know more about all the changes please check the code: https://github.com/golos-blockchain/golos/commits/golos-v0.23.0
Bounty for detected bugs
If you find any errors in the hardfork code, please provide us with their description, reproduction methods, and screenshots (if possible). We'll try to objectively evaluate your help and transfer you a bounty reward in GOLOS tokens.
The original post can be found here
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