Development News — 5–11–2018
10 days to Main Net launch!
Beginning Monday, we will provide daily updates in the run up to launch. These updates will include instructions to download and use the platform, instructions to acquire ICO awards, and other pertinent information to ensure you are ready to roll on May 21st.
Road to Main Net
At this time, we are applying final polish and testing to the platform to ensure all launch components are good to go. Some of these will be released to test net, such as our new wallet was last week. So keep your eyes open and we encourage everyone to continue to use testnet and send us any feedback on Discord, our website or over email.
Halo Block Explorer: We are pleased to formally launch our Halo blockchain explorer. The searchable explorer provides real time data on every block on the chain as well as all transaction details in a clean, easy-to-read format. Expect many updates to the data available as the metrics you want to see and track become more apparent. You can access the Halo Block Explorer Here: https://explorer.haloplatform.tech
Exchange
This sprint saw a lot of hardening being done on the exchange order management system and core order routing API client/server. Final touches are being added to the pre-registration piece and focus is shifting back to the user administration portal.
From The Founder
As our Mainnet Release quickly approaches, I wanted to take a few paragraphs in this weeks update to talk about a few things.
Firstly, There is not a day that goes by where I am not taken aback by the entire team here at Halo Platform and what they are achieving with the vision I originally set out for them last year. They are continually creating new technology that will move the ideological thinking of what and how you interact, control, and secure your Cryptocurrency. Old standards are being left by the wayside as we search for a lower threshold for adoption.
Our community has grown, and provides a safe place to come and learn, discuss, and be around like-minded individuals. To each of the senior community members, I thank you for your donated time and efforts.
Now for some real updates. We continue to have to make business decisions for the longevity and future of Halo Platform, some good, some GREAT, and some are good..but won’t be what you expected.
The biggest piece of this is that we have made the technical decision to completely remove Proof of Work (PoW/Mining) from the Halo Network. The original concept for keeping PoW in place originally was to provide for a constant coin generation. We had already removed the miners responsibility for processing transactions out of it, which really only left the coin minting intact for them.
As we progressed through our development it became apparent that keeping PoW in place would continually create us having to adapt our VDTB blocks to accepting PoW, which would be no easy feat given our current technology and where we are going with it in the future.
On top of that, we placed valuable resources into use for the sole purpose of producing PoW blocks just to mint coins. The approach was not environmentally conscious. As such, we will now be minting coins via a Smart Contract. The minting schedule remains the same. The coin supply remains the same, we will produce 38 Halo every 4 minutes with a 25% reduction every 24 months.
What does change is the distribution of those coins, and the service fees. Originally, miners were to receive 10 Halo per block, and 15% of the service fees. This reward is now divided amongst the four tiers of Masternodes as follows:
*All values are represented in Halo
As you can see, the tiers now more evenly reflect their place in our hierarchy, and keep the ratio intact for the value of higher tiers vs lower tiers.
I myself am an avid miner, with mid size farms. So this was personally a difficult decision to make. The technical piece of it allows us to move our blockchain forward to achieve much greater transactions per second which in turn can lead to more business being done.
^Scott Morrison, Shannon Duncan, Devin Seto, Sean Valeo
