Post-Fork State of the Network
We’ve successfully forked last Saturday on block 50509. The fork happened @ 12pm UTC time. A new version of the Windows GUI wallet and cli is downloadable from our website.
The network is unblocked!
After two weeks of blockage due to Nicehash attach, we are happy to report that the network is finally unblocked and fully operational.
Over 3500 new blocks were found since the fork, closely matching our target of one block found per 2 minutes.
Our partner exchange Altex resumed deposits and withdrawals of KEPL after updating their wallet.
KEPL now runs on Cryptonight Fast, a derivative of the Monero algorithm created by Masari.
KEPL also adopted the new LWMA2 Difficulty algorithm. The network is now much more responsive to changes in hashrate and better protected from eventual attacks. We love it!
New emission algorithm
We’ve lowered the emission rate of the network by roughly 20%. We did this because we felt the old emission rate was too fast and would not fairly reward miners at the later stages of our lifecycle.
To smoothen the transition from the old reward to the new one, we’ve decomposed it into two components: a base reward at an updated emission rate and smoothing reward at an even lower emission rate. The details of how the total miner reward is calculated can be found here: https://github.com/kepldev/kepl/blob/master/src/CryptoNoteCore/Currency.cpp#L167
Now that the network in unblocked, the development team will switch its focus to our core product: the KEPL Keyspace. One of the first releases will be the capacity to reserve unique keyspaces — these are like domain names for the KEPL blockchain.
We will also start a wiki which will guide current and new KEPL users.
Finally, we will update our website and whitepaper.
We’re very excited, and hope you are too!
The KEPL devs.