Hello Crown Community, the core team would like to inform you about the current status of the switch from our Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanisms. As you have been previously informed, the main reasoning behind this switch is that PoS provides increased network stability and security for our protocol. It is also our first and key step towards our ultimate goal: Crown’s unique replacement for PoS and PoW, the Crown Consensus Mechanism (CCM).
In light of this proposed switch you have all made the brave decision to make this change to our network as the proposal passed in our last superblock. This change to a Crown tailored Proof-of-Stake based protocol will have tremendous benefits for our platform once completed.
Now we must fund its development and will be bringing on developers who have successfully completed this process several times in the past and as such have extremely unique skillsets. Our own developers are taking on our API and other platform related features, so this experience comes with a cost that we will have to bear as a community to progress forward.
Our current PoS-switch funding situation is as follows:
BTC Address: 1LitBBx2Mmgiaeyd8S61sV3S2kcDnkEjX — 1 BTC
CRW Address: 17ny5Enj9q8vZ1Jt4HE4jf64GR6RGyvHj6 — 37,312CRW
We have managed to raise around 50% of the $100k as the current state of the crypto markets’ price situation is not helping our cause. The funding that has been raised is coming from several team members and other close Crown partners.
From here we are asking you all to contribute to the above addresses to help us push forward with this move. The cost for this switch is $100k USD. This move will increase your node rewards, protect your network, and put us in a place where we be able to scale our network. The next step is down to you!
For questions or to discuss this move further, feel free to join us on our Mattermost (mm.crownlab.eu) or Telegram (https://t.me/crownplatform).
Thank you for your trust and support of our community project
- The Crown Core Team
