Developers update #5
With great pleasure we present our Fifth official RPICoin developers blogpost.
We have been continuing our hard work since our last developers update which — amongst other topics — contained the release of our v1.0 whitepaper. Our whitepaper is a so called living document that will be updated as RPICoin develops further into the future. To see what we have accomplished since our previous update continue reading below!
If you are new to RPICoin, we are an open-source cryptocurrency created in 2018, based on the Bitcoin protocol. RPICoin is a proof-of-stake (PoS) only currency and therefore more energy efficient than proof-of-work (PoW) based currencies. Our goal is a fast, secure, decentralized and energy efficient cryptocurrency that forms the foundation for future development of various platforms and applications. This by making use of the underlying payment architecture the RPICoin platform provides. Our goal is to make our RPICoin cryptocurrency available by providing custom blockchain creation and services thus allowing businesses to take full advantage of the Blockchain technology.
Currently we have our testnet up and running for a couple of months now. We have used this time to analyze our code and perform (stress) tests. It goes without saying that we want to make sure that our new protocol runs bug free and the transition can happen smoothly. With such major upgrades we want to avoid unwanted surprises and so we take extra care in getting it right the first time. Once we are fully satisfied with our code and its functionality we will announce an official launch date.
New Wallet — Privacy & Security
As you all know, privacy is our number one priority. To support this philosophy we are in the process of creating a complete new (HD) RPICoin Wallet. This new Wallet will feature a brand new UI and layout but more important it adds a new layer of security and privacy. This to make sure you can stake, store and send your RPI in the safest, fastest and most efficient way possible.
The new wallet will be upgraded with the Zerocoin protocol which allows full privacy for users. How does this work exactly?
Because of the Zerocoin protocol you are able to set up automint addresses. This means that all RPI Coins which are received via an address with automint enabled will automatically be minted into zRPI.
zRPI is completely private and has no trace to its origin. If you spend zRPI there will be no trace of where they came from and will make your transaction completely anonymous. This feature is ideal for those who receive regular payments such as merchants or businesses, or for traders who want their incoming RPI Coins to be automatically minted in zRPI. To cut it short — anyone who wants to remain anonymous can make good use of automint addresses.
Important notice: We still wanted to mention Zerocoin in our blog post as we want to show the effort we invested into our development cycle. However as most of you are aware, the Zerocoin protocol has a major vulnerability which will not be fixed and therefore we have seized all efforts in implementing Zerocoin. We are currently in contact with other sources on a to-be-developed-alternative. More news on this in a future Developers update.
Click here for a further Disclosure on Zerocoin vulnerability (which affects all Zerocoin implementations).
The wallet’s core has been fully upgraded, providing the wallet with all of latest security related patches from the Bitcoin core. The RPICoin blockchain will be more secure than ever before.
The development team has been working hard to implement the blockchain upgrade to support masternodes. This fundamental change for RPICoin will make us even stronger than before. Masternodes are incentivised nodes that receive rewards based on their ability to offer network services in a decentralized and trustless manner.
Masternodes will become the backbone of the RPICoin network services which means they get higher rewards compared to staking a similar amount of RPI. The collateral for running a masternode is 10 million RPI.
We are very close to announcing an exciting new partnership. Keep your eyes on our social media channels for a near future announcement.
Listed & Verified on Blockspot.io
RPICoin has been listed and verified on the #1 Blockchain Data Platform Blockspot.io
The verified badge means that a member of the coin-team has validated the data we listed on their coin page. In the case of missing or incorrect data, it has been updated and corrected at the time of validation.
Telegram & Lotteries
Join our friendly community in the RPICoin Telegram Channel. Find out all the latest information, have community discussions or just to have a chat. As a big plus, by being active in our Telegram community, you can partake in Daily and Weekly lottery drawings to win RPICoin.
If you haven’t joined already, please join our bounty group on Telegram to earn free RPI Coin by performing posted bounties. Not only do you get rewards, you also help spread the word about RPI Coin! We have active bounties for various tasks, be sure to check out our dedicated Bounty & News group on Telegram. With our new system for payouts RPICoin community members are rewarded quickly and efficiently.
Check it out for yourself on any of the links below.
- Over 40 million RPI coins have been sent out for rewards and lottery’s
- Knocking on the door of 1250 members in our Telegram Community
- Over 400 members in our Bounty Telegram
If you have any questions, feel free to ask any of the admins on duty. Stay updated by our Twitter account: https://twitter.com/rpicoin