Gov Nodes
The GovNode model will be introduced on the next-generation FLASH Blockchain within the following categories:
50 — Permanent Nodes that are not up for election
25 — Mining Nodes that secure the network
76 — Elected delegates
Total Number of GovNodes: 151
The FLASH GovNodes will also implement staking capabilities to its currently planned Delegated Governance Systems (or DGS for short). Taking a closure look at the 50 permanent delegates, most of these delegates were appointed at the inception of FLASH over a year ago. The requirement at the time was that people who wanted to become an involved member of the FLASH ecosystem would need to donate at least 1 Bitcoin. In order for an end-user a host a GovNode, they will be required to stake a minimum of 1 Million FLASH coins. Hosting a GovNode will allow them the opportunity to vote using the consensus model where the vote weight is determined by the amount of coins staked. For example: A person who stakes 10 million coins will have a greater weight than a person who stakes 1 Million. In addition to this, a pool has been started with a starting amount of 12 Million FLASH (32,000 per day distributed to the Mining Pool). This FLASH pool will be used to pay miners who host a mining node which requires a minimum of 2 Million FLASH as well the Permanent delegated GovNodes who will also assist in the mining. With the mining difficulty adjusted this allows the processing and mining of transactions to be handled by any basic computer — thus removing the demand for expensive mining hardware and electricity costs. This structure will remove any form of centralization from the coin making it a full-fledged Decentralized cryptocurrency. At the same time, this will reduce the number of available coins from up to 200–400 Million FLASH which will be staked by GovNodes and Mining nodes.
OTC Trading has begun
OTC trading testing has officially begun in Venezuela. A few large FLASH hodlers have loaned FLASH to test the process with real life persons in Venezuela. The OTC process will be done using the Android wallet to allow availability to a larger user base than the iOS wallet which demands the use of highly priced devices. This system should be implemented within the upcoming month.
Whitepaper Completion
The new FLASH whitepaper has been completed in the technical aspects. The Whitepaper is currently undergoing graphic additions and text polishing to ensure the validity of information and removal of any subsequent errors. Users can expect to see the whitepaper released within the upcoming week.
Circumvention Software
Software developers have undertaken the project of developing circumvention software for FLASH. This software enables the use of FLASH in countries with ISP Firewalls which prevent and censor the ability to use Cryptocurrency transactions; such as China. The software will utilize nodes which will be set up using the software to broadcast transactions thereby bypassing the ISP firewalls in these countries.
SEC Regulations
In the upcoming weeks the SEC is set to target the cryptocurrency markets with heavy regulations. However, FLASH will be immune to any regulation brought forward by the SEC to enlist Cryptocurrencies as securities. FLASH is a community coin which did not start like many other coins; by use of ICO. At the inception of the project, donations were made by persons around the world (excluding US citizens) to a company. The donators were given a receipt as proof of their donation. In the days which followed, someone airdropped FLASH coins to all persons who held donation receipts as a form of gratitude.
Professional Investors
FLASH has garnered the attention of professional investors who have invested deeply into the coin. The investors plan to use their influence to push the coin forward and onto larger exchanges. In addition, a marketing plan is underway to use their reach of over 1.5 Billion customers around the world to drive attention and usability of FLASH.
Mammoth Update
As of currently, all software is completed for the ability to perform Crypto to Crypto trades. However, the OTC trading process is still undergoing works and the doors of the highly anticipated exchange will only be opened once that portion of the work is complete as Crypto to Fiat trading is determined to be the largest sector in cryptocurrency.
