Looks like the STEEM network's upgrade to v0.16.0 has started and we're likely to see more and more witness support on the incoming hardfork in the upcoming days. Very exciting times for STEEM. If you're not up to date with the changes incoming with STEEM v0.16.0 a list of proposed changes can be seen in the article linked below:
Proposed Changes to STEEM Economy
Witnesses Already Running STEEM v0.16.0
As of the time of writing this I briefly skimmed over the top 25 witness spots and noticed a couple witnesses already trying 0.16.0! Personally rolling it out on my servers here overnight.
STEEM 0.16.0 Official Release
(and a bit further down the list...)
My Migration has Started as well!
Currently my main witness node is being rebuilt to run the v0.16.0rc3 release which will likely end up the final (or very close to it). Almost half a dozen STEEM servers I run will be updated over the course of the next 24 hours or so and hopefully everything upgrades smoothly. When the official release (on tuesday I believe?) is released I'll be upgrading again.
Excited to see the new changes take place with STEEM v0.16.0 in regards to inflation
Noticed during this build that private messaging may be on the horizon..?
(Built STEEM 2 dozen times now.. Actually paid attention to it this time!)
Syncing from scratch! Will update how long it takes on this post later.
Update: Still Syncing from scratch... Tons of Red from Push Size Errors Reported!
Red seems cleard up.. Not sure if it's disk or network that is slowing me down at this point.
Will see if blockchain transplants are viable for sure after this all night endevour
True to form some how it ends up crashing on me of course... lol FML
Restarted the sync with --replay-blockchain .... Seems to be working
Looks like a success!!! Will have to see if 0.16.0 works on my Main shortly!
WOOT! Signed my first block with version 16... Finally!
Now.. To wait to see if v0.16.0 runs well on my main Node, then update the other 4 servers.I'll update this post with my findings on the sync time and how the upgrade goes here as more info is available! Really hoping to see this new STEEM version take hold and but a nice damper on the current inflation rates.
STEEM was worth $0.1233 USD at the time this post was written.
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My blockchain syncing has already taken almost two days. I estimate it to take 12 hours more.
I am going to experiment with various setups when I get the chance and see what works best...
Have a pretty big announcement this morning that I'm putting the finishing touches on. :D
My blockchain syncing finally finished. It took 3 days. It appears to be working correctly.
I have 16GB ram and using linux in vmware. I am using
./steemd --flush=100000blockchain directory files
shared_memoryandshared_memory.binare 32GBI wish I understood any of this... o_0
Basically what is happening is all of the witnesses (guys who run the STEEM servers worldwide, myself included) have new software available that cut's our current STEEM inflation rates down to around 9.5% of what they currently are.
The economic changes in this hardfork may make the value of the STEEM token go up considerably.. Although tis only speculation on my part.
One thing to be mentioned though that everyone should know:
Powering down your account will only take 3 months vs 2 years as it was originally if majority of witnesses switch over to v0.16.0 in December (which I imagine they will).
Cheers. :)
Ah, the hard fork? So it doesn't take effect until most of the witnesses comply? Also how will it affect curation and posting rewards? Will they be increased?
A hardfork cannot be implemented unless majority of the witness servers in the top 19 switch to the new version.
To be 100% honest I'm unsure what effect we'll see on the curation and posting rewards. I believe they are closer tied to STEEM market price but I'm not entirely sure.
Hey @klye - one other thing to add is that even if all witnesses upgrade early, there is a hardfork date built into the code, so the 'real' changes will not actually happen early. As long as a majority upgrades in time (which seems pretty much for sure to happen) the hardfork changes will go into effect right at the right time :)
Very good add Tim! Thanks for pointing this out.
Ah, so the witnesses are sort of like trustees? I heard December 6th for the hardfork though I'm guessing now it's impossible to predict.
No, you are entirely correct. Dec 6th, 2016 is the official date when witnesses in agreeance with the hardfork changes are supposed to switch over.
Highly unlikely you'll see it happen before then. I'm merely testing out the new software on the live network. Currently I'm only rank #26 on the witness list so roughly every 30 minutes or so I produce a block for the STEEM network and have my client and parameters taken into effect. However given only 1 top 19 witness is running 0.16.0 it's only 2/19 for the hardfork 16 vote when myself or another witness running it is in the round.
No need to fret, the hardfork will very likely be right on schedule. This is merely pre-emptive testing on my behalf. :)
We are sort of like trustees in a sense I guess. If witnesses do not agree with hardfork changes they are not forced to run the software.. And ultimately that dictates what software version the STEEM network runs.
Ok. Thanks very much. Any idea about the number of witnesses on board with the new version?
Sorry, replying here due to hit max nesting.
I can't say for sure what % of the witnesses agree to the hardfork truthfully but I think we'll see majority rule for 0.16.0 on the Dec 6th hardfork by the sounds of it. :)
Ok. Thanks for your patience with my questions! I've followed you too.
Yes, the curation and posting rewards are tied to the market price, which is why so many, and by that I mean me, are excited about this hardfork and the possibility for an increase in market price.
Thanks for sharing and help keep the Steemit monster running.
No problem! I'm excited to see how this new software performs as well as how the changes of the economic model pan out.
Looking forward to the updates but I thought it was December for the official rollout. Or does it adjust anything before the official hard fork?
It is infact december for the official release and hardfork.
Running the newest version on my servers not only to help bug test but also to check out reports of massive performance upgrades to STEEM client on the back end. The hardfork will not take place until December as planned UNLESS by chance majority of witnesses upgrade to v0.16.0rc3 (unlikely).
Ok. Thank you glad to know. By the way thank you for testing the new version hope these improvements help out.
It's my duty as witness to test new softwares and ensure that the network is healthy and sustainable. :)
Thanks for the guide you wrote. It's been very helpful to me while trying to get my own server up and running.
You're welcome! Don't fancy myself that great of a teacher but if that guide managed to help at least 1 person get up and going it served it's purpose. :)
I've seen a few people mention the possibility of a chat option. That would be pretty neat since I rarely go offsite for any of my communication or social media anymore. LOL Keep up the great work.
Now, I do have one question. While you're updating and testing, what happens if something goes wrong and you miss a node?
Part of the reason I'm going about upgrades so early is to try and skirt my error prone magnetism. :P Hopefully have everything upgraded and ready to go well before the official hardfork date so any problems seen can be weeded out and fixed. :)
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Looking forward to the changes thank you for the update :)
No problem Karen!
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