After a long hiatus, we’ve returned to Medium with a renewed effort to provide more regular, quality updates and announcements. What better way to start, than to officially unveil the long awaited, and vastly improved, Shard Wallet!?
The newest version of the Shard Wallet has been completely redesigned with a modern user interface that boasts a multitude of new features. Through countless hours of collaborative effort by our wonderful design and development teams, as well as multiple feature requests and helpful feedback from our amazing community, we now present you with:
A Sleek New User Interface
The wallet UI has been completely overhauled to present a more refined, modern looking interface, which provides a wealth of useful information at a glance. Some of the more notable interface features include:
⦁ Multi-Timeframe Graphs
- Track the Shard Price using 5 minute, 30 minute, 1 hour, 1 day, 1 week, and 1 month intervals
- View your Wallet Balance using either the Daily or Weekly graph
- Monitor your Staking Gains per day or per week
⦁ View the Shard Price, Market Cap, 24h volume, and 24h % change
⦁ View your total balance in $USD
⦁ View the worth ($USD) of each transaction you send, receive, or stake
⦁ Click on the Transaction ID (txid) to view transaction details in the block explorer
⦁ View the Shard balance for all your addresses right from the Receive Page
Potential Stake and Staking Weight (Fixed!)
Long time Shard holders will appreciate that these, now notorious, visual bugs have at last been fixed! By navigating to the Coin Control, located by clicking the “Inputs…” button under the “Send Tab”, you will notice the return of the “Potential Stake” column. This will give you an idea of what you can expect to earn, if that Shard stack were to receive a staking reward. The longer a stack goes without earning a reward, the higher the potential stake will grow.
We are also happy to report that the weight shown in the wallet is now displaying correctly! Your weight is determined by a combination of how much Shard you have within a stack and how much time has gone by without receiving a reward. The higher the weight of your stack is, the greater your chance that it will be chosen to earn a reward. In addition to the weight of individual stacks within Coin Control, your entire wallet has a weight rating. By hovering over the green Shard icon in the lower left corner of the wallet, you can view your wallet weight, and compare it against the weight of the entire Shard network.
* Given that your coins have matured, your wallet’s weight will generally reflect a value that is somewhat similar to the total amount of Shard coins contained in your wallet
Estimated Time until next Staking Reward
In addition to the “Days to Stake” estimation for your individual stacks in Coin Control, we have now added an estimate on when you can expect to receive your next staking reward. To view the expected time until you earn a reward, simply hover your mouse over the green Shard icon in the lower left corner of the wallet.
* Note that you must have mature coins in your wallet that are eligible for staking, in order to receive an estimate.
Automated Stack Targeting
This unique feature is what makes the Shard blockchain really shine! If you are a seasoned cryptocurrency enthusiast, you may have heard of something called a “split threshold.” In traditional Proof of Stake (PoS) wallets, you have the option to set the threshold at which your coin stacks will split, and form a new stack. With that system, the user is able to choose whether their stacks will split at 2000 coins, 5000 coins, or whatever number they want. If a split threshold is set to 5000, this means your coin stack will grow with each staking reward, up until your stack reaches the 5000 coin mark, at which point it will split into two stacks of 2500 coins each. Those two stacks will then grow until they hit 5000 each, and then split again, thus multiplying the total number of stacks. Since the amount of coins held in a stack greatly contributes to its staking weight, many users are tempted to set their split threshold to a high number, in order to keep their coin stacks large and increase the frequency of their staking rewards. While this sounds great at first glance, there are severe disadvantages to it.
When many holders of a PoS coin set their split threshold to a high number, this reduces the total number of coin stacks that are available on the network. Blockchains are built on the idea of consensus giving verification to our funds. When we have fewer stacks with mature coins on the network, our possible options for creating a new block, and thus verification of transactions on the network, are reduced, and the stability of the network then suffers. By widening the reach of possible blockchain validators through reduced stack sizes, and increasing the number of total stacks, the network is strengthened against split chains and possible attacks.
In striving to create the perfect balance between network stability and staking speed, the Shard Team has developed this unique feature that we call Automated Stack Targeting. This advanced feature eliminates the traditional “split threshold” and automatically determines the optimal stack size for each Shard wallet user, based on the current network conditions. This will provide an incredibly stable blockchain network, while also granting you the consistent rewards you desire.
Since the beginning, the Shard blockchain has included automated splitting, which was a stepping stone to what has now become the Automated Stack Targeting feature. With automated splitting, we were able to greatly increase the stablility of the network. This has been a large contributing factor, as to why the Shard blockchain has never experienced a split chain since the creation of the genesis block.
The Shard Team has now gone a step further in our efforts to create the most stable and secure blockchain network possible. Automated Stack Targeting is the combination of automated splitting, as well as automated combining of stacks. As the Shard blockchain grows, the network conditions are constantly being assessed, and your stacks will now be split or combined depending on what is most beneficial to the current needs of the network. So now, if the network has more than enough stacks to choose from, a coin stack that is staking can pull in another one of your stacks and receive a reward alongside it, causing them to combine into a single stack. This will result in individual stacks that stake sooner and are less likely to become backlogged, waiting unnecessarily long periods of time to earn a staking reward. With this new feature, the Automated Stack Targeting will ensure Shard withstands the test of time and continues to run for generations to come!
Future Consensus Changes
If you already hold Shard, be sure to update to wallet version 2.0 ASAP. You have until block 300,000 (~July 21st) to download the new wallet. At block 300,000 there will be changes to the blockchain that will better represent what we hope to achieve with Shard.
Brief Overview of Changes:
⦁ 77% Reduced Maximum Supply
This is more in line with the current supply and better represents the scarcity of Shard.
⦁ Stake % Changes Being Made
Changes are being made for a more scalable, long term future. We estimate it will take well over 100 years to reach the new max supply.
The release of the Shard Core v 2.0 Wallet is just another step forward in creating one of the most influential cryptocurrencies of the future. With our burgeoning ecosystem of platforms, we aim to revolutionize the future of all currency and trade as we know it!
These enhancements follow our long term vision for Shard and prepare the way for potential future changes that the team will be looking into, to further increase scalability with solution's such as Sharding and usability of Shard as a functional and desirable global cryptocurrency with a strong focus on the future.
As we get closer to completion on more of our big projects, we’re ramping up our efforts to keep you in the loop! We plan to provide you with consistent updates on what’s going on behind the scenes. We invite you to journey with us, on our exciting path to success!
We have now updated the entire Shard github, making it more detailed and friendly for community contribution to the Shard core. We are also planning to create a development reward program for community developments on the Shard chain, after they have been proposed and accepted.
The incredible Shard community has been with us, supporting this project every step of the way. We want you to know that we value each and every one of you, and we greatly appreciate the suggestions and feedback that you consistently share with us. Truly, we could not achieve any of this without your constant encouragement and belief in us. When Shard, Shardax, the Infinity Wallet, and every future Shardax ecosystem platform become household names, it’ll be because of you and the faith you put into this project. We will continue to do our best and make you proud to say you were an early supporter! If you feel you have the time and desire to do more in helping this project, our project, achieve success… please reach out to us on Discord, or through the website, and let us know how you might be able to help.
More big things are coming to Shard and Shardax soon! We hope you will join us in our mission to bring Shard into the hands of everyday people, so that together, we may shape our future, the future of cryptocurrency, and the world at large!
Download the Wallet v2.0: https://shardcoin.io/wallet.php
Official Website: https://shardcoin.io/
Bitcoin Talk Thread: https://bitcointalk.org/index.php?topic=2965061
Shard Discord: https://discord.gg/wPqFk2T
Telegram Announcements: https://t.me/shardcoin
Medium (Where you are now): https://medium.com/@ShardCoinOfficial
Official Website: https://shardax.com/
Telegram Announcements: https://t.me/shardax
Article by: WishIStartedSooner