Syscoin Community Weekly Update #7
This weekly update is written by the community for the community, to bring you all the latest Syscoin, Blockchain Foundry and SCMT news! Thank you to our Slack member @blgh for compiling this update. Weekly updates, other articles and a lot more can can also be found on the new syscoin.community website!
Syscoin & BCF news
A Debrief on Recent Syscoin Trading Activity
On July 3, 2018, the Syscoin team detected unusual transactions on the Syscoin and Binance platforms. Syscoin takes its security (and the protection of its customers) very seriously; as such, we requested all exchanges temporarily cease trading Syscoin until we could determine the cause of these aberrant transactions.
In the interim, speculation was rife (as is common in the crypto community) as to the reason for this request:
- Was Syscoin hacked?
- Was Syscoin otherwise compromised or attacked?
- Or was it something else entirely?
Read more here:
Blockmarket Desktop 3.0 User Guide released
Thursday 28th of June 2018, Blockchain Foundry Inc. released a first time user guide for Blockmarket Desktop 3.0 (BM3). This comprehensive user guide will allow you to upgrade your wallet from Blockmarket 1.2.X or QT 2.1.X to Blockmarket Desktop 3 on a step-by-step basis. Furthermore, in the guide there are links to other instructions, such as:
- Exporting your wallet and keys from an older version of BM3 or QT
- Importing your wallet and keys from an older version of BM or QT into BM3.
- Using the marketplace itself!
CPS Airdrop Snapshot
On July 1st the Coin Payments coin (CPS) airdrop snapshot recorded the balance of all Syscoin Aliases on the new 3.0 chain. The airdrop itself was also scheduled for July 1st, and users received 0.56 CPS for every 1 SYS stored on an Aliases with an expiration date beyond the1st of May 2019.
Within the CoinPayments platform, holders of CPS Coin will be able to:
- Save 50% on merchant transaction fees by paying the fee with CPS Coin
- Get rebates on conversion and network withdrawal fees
- Receive a 50% discount on coin hosting fees
- Participate in CoinPayments hosted ICOs at a discounted rate
- Stake coins to earn up to 25% annually
Bahamas Blockchain & Cryptocurrency Conference 2018
Sebastian Schepsis (CTO of Blockchain Foundry Inc.) and a few other staff members attended the Bahamas Blockchain & Cryptocurrency Conference 2018 (BBCC 2018). Sebastian delivered a presentation to an enthusiastic crowd and later they met with potential business partners. The team also live tweeted from the event, trending #1 on Twitter conference coverage.
In the media
Publication of Blockmarket Desktop 3.0 release on Sludgefeed
The release of Blockmarket Desktop 3.0 did not go unnoticed by the crypto press: on Wednesday the 27th of June, Sludgefeed published an article on the successful release of this groundbreaking decentralised marketplace software.
Great Article about Syscoin and Our Masternodes published on investitin
And ICYMI … another Syscoin review!
SCMT NEWS
Scmt Mini-Proposals
The first round of the mini proposals has ended, a lot of great ideas were submitted and we are happy to announce the first winners!
New month = another chance to apply!
We have opened up the application process for July and are hoping to see some great proposals again!
New Masternode Funding Proposal (SCMT + Exchange Fund)
SCMT proposed for funding again this month. We had hoped that last month’s funding round would allow us to operate for at least two full months, however due to the low market price of Syscoin we have decided this month to apply for governance funding. We also developed a joint proposal with Syscoin core dev, Jag Sidhu to start a Exchange listing fund ELF, more info can be found HERE
We want to thank everybody for their support and Yes votes we are happy our SCMT proposals got enough votes to get funded! The ELF proposal just came short a little bit to get funded, this makes SCMT the only fund that got funded this month, what means 78630 Sys is not created this superblock. Most proposals just didn’t had enough votes to qualify, which is a shame! We decided to do what we can to make sure that will not happen next round. One of the first initiatives is that SCMT has teamed up with MasterNodeOnline.com to make sure every user will be notified by email to get their votes in on time. We hope this will help holders to remember to vote.
Finally we have created some tutorials about how to vote for and submit a proposal (in depth articles and more will follow soon!).
Talking about votes, please vote for Sys as best masternode project here!
Rumors and Misinformation During Recent Events
The last 48 hours were hectic times for the Syscoin community due to several unrelated but unusual events. Without conducting any research the crypto media started writing articles about how the Syscoin chain was hacked, 51% attacked and even claimed that 1.2 billion Syscoin were mined in one block.
Although clearly incorrect, these lies spread quickly and SCMT worked hard to reach out to the media outlets responsible for the misinformation, with the result that most of them have rectified or deleted the libelous articles.
We also asked our contacts to create content that would reinforce the facts and dispel the myths. Most of them were celebrating the 4th of July but luckily some of them made the time to create accurate content, such as our friend Craig (Sludge Feed) and YouTubers Crypto Lark who we hooked up with Jag, and Altcoin Buzz who was put in touch with Keyare.
We also observed our entire community stepping up to comment under every erroneous tweet and YouTube video, and thanks to our Slack member alternating we even got coverage on the World Crypto Network — it’s so good to see Syscoin has such a driven and strong community!
For the ones who have not done so yet, please spread the correct info and help get the facts out!
SCMT Twitter account
Please follow us for all the latest community news via our SCMT Twitter account, as well as hot-off-the-press Syscoin and BCF updates. The Syscoin team will also share our posts via their official social networking channels, to help spread the word.
Technical Updates
Syscoin 3.0.6 is released and mandatory to upgrade for general wallet users.
You can find SYSCOIN QT 3.0.6 here. As stated above, upgrading to Syscoin QT 3.0.6 is mandatory. Instructions for the mandatory upgrade for QT 3.0.6 can be found here:
Step 1: Login to the vps
Step 2.1: If you used Justin’s script, run this command and choose ‘y’ to upgrade
bash <(curl -sL https://raw.githubusercontent.com/einalex/syscoin-scripts/master/masternode.sh)
Step 2.2: If you used BCNF’s manual guide instead, run these commands in vps:
~/syscoin/src/syscoin-cli stop
cd ~/syscoin
git checkout master && git pull
./autogen.sh
./configure
make -j$(nproc) -pipe
~/syscoin/src/syscoind
cd ~/syscoin/src/sentinel
git checkout master
git pull
You do NOT have to press the start button after updating the node. Pressing that button will reset your qualification time and make you wait for |masternodes| * 2.6 / 60 hours for rewards.
Masternodes
- At the moment of publishing there are ~1198 masternodes online.
- Masternode daily reward calculation: 37411.2 SYS per day divided across the number of active masternodes (Currently ~1161).
- ‘Seniority’ will get you +3% ROI on your block reward for every 4 months running your MN. For example, after the first 4 months, you will get 25.98 + 3% = 26.77 rewards per block.
- Latest release wallet for creating/managing masternodes is QT 3.0.6. Latest release for Sentinel is 1.1.1.
Checking masternodes
You can check your nodes with your server console on your server (e.g. Putty). Uptime of your master node can be checked by inserting this line into you server console (e.g. Putty):
syscoin-cli masternodelist activeseconds | grep [your IP address]
For more information visit Syscoin.org
