SteadFast Storm Release Information:
Release Date: November 1st, 2019
- PoS/PoW split (yes, that means Utility nodes ie. master nodes)
- Reduced network fees
- Increased wallet support & simplicity
- Upcoming Anonymity Network much like TOR
- Privacy-based DApps
Our next major release, “Steadfast Storm” scheduled for November 1st, 2019, will be a major milestone for the uPlexa project. Steadfast Storm will reduce network fees to a minimal amount whilst also bringing utility nodes (ie. masternodes) into play.
Nodes will be 2M UPX Each (DYNAMIC). Cost will decrease slowly over time, much like our block reward. This means, as block rewards lessen, so does the cost of running a utility node.
Staking amount is LOCKED for 30 days.
Name: UTILITY NODE (or uPlexa node if you wish). Anyhow, UN for short.
What does a Utility Node do? A utility node will help with heavy lifting on the uPlexa network to allow for UNApps (Utility Node Apps), and browsing of the uPlexa equivalent of TOR, a private and anonymous network. Utility nodes will also act as exit nodes on our anonymity network and will also help increase the speeds of transactions by helping confirm blocks and denying invalid blocks from PoW to prevent 51% attacks. The uPlexa anonymity network will act like a VPN whilst also giving you access to a “deep” anonymity network to roam around in with complete privacy.
You may choose to stake individually, or choose to participate in pooled staking.
Pooled staking: Pool operator must stake 25% of the necessary amount. The pool operator may reserve contribution slots for specific addresses to prevent random users from joining their pool. All users must contribute a minimum of 25% of the stake.
The pool may be open or reserved. If open, anybody can join the pool. The payouts will be left to the network, so there are no issues regarding trust.
You will be able to restake every 30 days (when your funds unlock). You may choose to restake automatically within the node, or to do so manually. You may also cancel your automatic restaking at anytime.
Node requirements as of NOW:
- >10GB SSD
- RAM: unknown
- CPU: unknown
- External IP Necessary
- Goals: 1x CPU CORE, =<2GB RAM
- Rewards: 20% UN 80% PoW
- Time between UN reward: 235 Blocks (7.83 Hours)
- Staked proportion locking period: 30 days
As we work towards preparing Steadfast Storm, we will also be working on creating more wallets to better serve as a function of simplicity and minimalism for our users. We realize our current GUI wallet is a little heavy and not the easiest for users who are first getting into crypto. Thus, our mission is to solve such problems. Furthermore, we will also be reducing transaction fees substantially.
You will also continue to see developments in other areas. We have more information coming later this month regarding IoT software being created for a new device/operating system.