Important What to expect of testnet #3

Discussion in 'News / Announcements' started by Supreme, Jan 6, 2018.

  1. Supreme

    Supreme Administrator Staff Member

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    As XTRABYTES has gained more attention over the past month, expectations and pressure on the team are now higher than ever. I’ve written this post to give you a small update on what to expect from testnet #3. This testnet is not the final testnet, and will not run on the ZOLT-chain yet.

    Why is it not running on the final chain yet you might wonder? The testnet will use a standalone wallet to test internally. Using the ZOLT-chain in the testnet would mean that some of the information which is compiled, contains parts of the source-code of the ZOLT-chain. This code is still awaiting patent approval (more specifically: patent pending status), so it cannot be released to the public yet. The patent is there to prevent unwanted forks of the blockchain, if they would ever occur, so rightful ownership of the chain will always belong to the person holding the patent.

    The previous testnet registrations were a success, reaching almost 600 submissions for level 1 nodes. Level 2 nodes are being integrated on this testnet, so both level 1 and level 2 nodes can be tested together. Therefore, registrations have reopened so people can still sign up to host a level 2 node. The aim of a high amount of transactions per second is mainly expected on the main ZOLT-chain, therefore this testnet (which utilizes the old chain) will most likely not reach the expected 10k transactions per second. The testnet will however, run on PoSign, as previous testnets have too.

    Another objective of this testnet is to assess which hardware specifications are optimal to run the STATIC nodes when they go live. Therefore, by hosting a node, a complete list of specifications can be made to determine their efficiency in hosting the network.

    Lastly, to address a question that has come up: Where do the fees go?

    There is a development wallet where all the fees currently go to, which is locked and can only be unlocked by the lead developer Borzalom. The community will get to decide where these funds go, once we are ready to use a different fees system which does not require the locket wallet. (Source: CCRevolution)

    This will be a big event on its own at a later point in time. The wallet already has quite a hefty sum stored - so please already think about some good uses for this, any suggestions are welcome!

    Here is a link to the wallet on blockexplorer:

    https://blockexplorer.xtrabytes.global/address/BLocksFEE4ProofofSignatureXXYF3VQ3
     
    Shixy, Big Al, Jamo and 3 others like this.
  2. Ste3001

    Ste3001 Member

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  3. Delphinus

    Delphinus Member

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    Ledger support!
     
    Joseph Laverty and fish313 like this.
  4. Seb59

    Seb59 Member

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    Thx for this update !
     
  5. moneyball

    moneyball New Member

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    thanks for the update xby team!!!
     
  6. fish313

    fish313 Well-Known Member Staff Member

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    Nice idea right here :)
     
  7. Sanchoni25

    Sanchoni25 Member

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    +1
    Xcellent idea :sunglasses:
     
  8. bitemypaw

    bitemypaw Member

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    Wonderful, I love the transparency! Thank you for it!
     
  9. Lawliet

    Lawliet New Member

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    Charity! lets do something good and spread the word about xby in the most positive way!
     
    Mr. Gaffney and bitemypaw like this.
  10. Drifters_

    Drifters_ New Member

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  11. Johan V

    Johan V Member

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    The locked fee wallet? Ledger, marketing, necessary in-company costs.
     
  12. Mr. Gaffney

    Mr. Gaffney New Member

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    Let’s throw a party with the fees
     
  13. Big Al

    Big Al New Member

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    Lets give a nice bonus to Borz out of the fees!
     
  14. m4sturb4tor

    m4sturb4tor New Member

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    If its going to be a lot of money we could think of some sort of Charity. No any clue for the moment but perhaps having a wallet like that in the system in the future with funds guaranteed to go to charity could help promote our project as well. Build a hospital in Cambodia? Education Fund? - Sponsor education of young and deaf Hungarian prodigies so that they can study coding in better environments? NOT CAVES!
    Ill think of sth else
     
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  15. Jamo

    Jamo Member

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    Charity of some sort is a great idea, given this really is a community platform. I think the funds should also be used to pay developers (is this what xfuel is for? I'm not sure...) and set up an XBY programming school or similar!

    That wallet does indeed hold quite a hefty sum lol!

    Also, something similar to the bizclassic Ark faucet would be a nice addition and way of bringing in new supporters. For those who don't know, it's basically a lottery where you get free coins sent to your wallet.
     
    Last edited: Jan 7, 2018
  16. Arimand

    Arimand Member

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    Thank you for the enlightening info about the project process.
     
  17. Robin

    Robin New Member

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    does the wallet gets ledger support?
     
  18. Fatoshi

    Fatoshi Member

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    I would vote for a few things potentially cause 1m XBY will go a long way.

    1. Ledger Support (brings attention to us but also is fitting if we want to be focused on security)
    2. Pay for exchanges.
    3. Give team a bonus
    4. Maybe some more articles
    5. Give it all to CCN so he can afford to take a day of work.


    Not against Charity but prefer to use the money to boost those who invested their fees, time and effort and they can do what they choose to do with it.
     
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  19. Fatoshi

    Fatoshi Member

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    Not sure Hungarians live in Caves....
     
  20. Wanderer

    Wanderer New Member

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    I add another +1 to the ledger support costs. That is a lot of extra marketing that comes with something the community can almost universally agree upon wanting.
     

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