The block height for the v5 Adamantium fork is set: 503001. As you probably know, everything was ready to be rolled out several weeks ago when suddenly a huge hasher took us by surprise. While we still don’t have a lot of information about this megaminer, the devs decided to switch to a new algorythm (Cryptonight v2) to combat the suspected FPGA mining. ASICs would be very unlikely at this point.
After the holidays & after finalizing the fork, the dev team will have a lot more time and freedom to develop their respective products. So stay tuned for further updates on StellitePay, the mobile miner and more.
Governance Fee: The v5 update will not implement the previously discussed governance fee. We think and hope that the community will be able to support the project’s progress and growth without implementing a mandatory fee. If you want to support the team, please consider donating on our new donation page (updated article will follow shortly)!
Because we ran into some irregularities with the IPFS / Zeronet implementation and our main priority is a fair mining output, we decided to change our plan and postpone the release of IPFS/Zeronet enhanced daemon for a while. This will give us more time to work on a better integration. The positive aspect is that there should be no need to fork later to use those integrations, just a daemon update.
You can find the fork announcent also on Medium.
With v5 Adamantium you can expect some new features:
- 5 Minute block time
- New features from XMR upstream
- A new GUI wallet
5 minutes block time
Stellite currently has a 1 minute block time, this seems like a good option from the top level view and helps transactions get 1 confirmation at least really fast.
That being said there are some significant advantages to a 5 minute block time.
Orphans and reorganization
The rate of orphans blocks and chain reorganizations are much higher in a 60 seconds block time coin than say a 120 seconds block time coin. Hence having a higher block time will definitely mitigate these issues. Having very low orphan block rate also allows more easily to make low confirmation transactions a reality for small amounts.
A bigger block time will make our blockchain a lot more tight and compact, in the current situation there are a lot of empty blocks which adds to wastage of space on our nodes, this aspect will allow Stellite to scale better.
A side effect of increasing block time is disinflation. A lot of complaints regarding Stellite’s emission pattern where people say that the inflation rate is too high which is a valid concern as we don’t want to become a hyperinflated currency. We won’t be adjusting the block reward to keep the current emission curve meaning the block reward will stay as is but the frequency of blocks will reduce from ~1440 blocks per day to ~288 blocks per day. So at the time of writing (with a block reward of ~14240.53 XTL) the daily reward will drop from ~20506363.2 XTL to ~4101272.64 XTL.
New features from XMR upstream
Stellite’s V4 implementation is based on XMR’s 0.11 (Helium Hydra), which has worked well for us until now but is starting to show age. The upstream merge will bring us a lot of new features, including sub/ghost addresses, multi-signature wallets, etc.
Along with these features in introduces a plethora of bug fixes and general improvements which will make Stellite more intuitive and easy to work with.
A fresh and more intuitive GUI wallet
This update will bring a new GUI wallet which is considerably faster and also stable. We will be taking out the Solo mining feature for user wallets since it has been known to cause issue on Windows being flagged as viruses.
In short — faster wallet/daemon with new features. Transfers with less confirmations needed, less orphans and overall better blockchain.
For more information, please read the follow up article Technical Information!
Don’t forget to update your wallets after the fork & thanks a lot for your support, it is much appreciated!