After the BitCloud Update 2.0.1.0 (protocol version: 70714) was released, finally the news follows.
The following new features have been added with the update:
Extension of the wallet menu:
Links to Exchanges, masternode Info pages and important resources are directly accessible through the wallet menus
Block 82.500:
With block 82.500, which will take place in about 6 days, the governance system is activated automatically. Please update your Master Nodes to receive your Master Node Rewards after block 82.500!
For Ubuntu 16.04 there are instructions for installing a new master node and also for updating an existing master node. There are 2 scripts for you to get your masternode with current version running.
For new masternode installation use:
wget https://raw.githubusercontent.com/c1xx/bitcloud-mn-install/master/btdx-mn-install-no-compile.shchmod +x btdx-mn-install-no-compile.sh./btdx-mn-install-no-compile.sh
For updating an existing master node use:
wget https://raw.githubusercontent.com/c1xx/BitCloud-mn-install/master/btdx-mn-update.shchmod +x btdx-mn-update.sh./btdx-mn-update.sh
If you have any questions, please feel free to ask us in our Discord: https://discord.gg/kgWVGD2 or in our Telegram channel: https://t.me/bitcloud_btdx
Governance System:
With the decentralized BitCloud system we now have the possibility to create applications, which can be coordinated by the masternode owners.
For example: I make a proposal, request 6000 BTDX so that I can reward the work and support of my team and the sound time in which votes can be cast is 1 week.
Every masternode owner is able to vote this request with “Yes” or with “No”. If 30 “Yes” and 10 “No” votes are cast within the 1 week, the proposal is approved.
No masternode owner is disadvantaged by the requested 6000 BTDX coins, because the used coins are regenerated and the maximum number of BTDX coins is added.
The maximum number of BTDX coins in approx. 8 years is 42,000,000 and the Governance System would add approx. 1,800,000 BTDX coins (are around 10% per Block Reward, which are firmly defined for the Governance System).
Since BitCloud is an older PIVX fork, you can read more about the “Governance System” here:
German sources:
https://pivx.org/de/governance_de_selbstverwaltung/
https://pivx.org/de/proposals_de_/
English sources:
https://pivx.org/governance/
https://pivx.org/proposals/
Superblock:
Once a month there will be a superblock, which will create the requested BTDX coins through the governance requests, which will perform payout / generation.
First superblock starts from block 86400, then each additional superblock in 8640 blocks (288 blocks x 30 days = 8640 blocks)
A fee of 1 BTDX is set to create an proposal.
Excess per month is block reward per block / 100 * 10 * 288 * 30 (( 7,5 /100)*10)*288*30 = Reward which is distributed in 1 month (6480 BTDX)
Reconciliation of requests will take place via the Debug Console of the local BitCloud Desktop Wallet, the command to do so will be:
mnbudget vote-many <proposal-hash> yesTo create a request, which will also take place through the debug console of the local wallet, the command looks like this:
mnbudget prepare <name of proposal> <info link> <how many payments> <starting block> <payment address> <amount or payments>Source for more detailed instructions: https://forum.pivx.org/t/howto-create-a-proposal/959
