Short update for the 5th anniversary
What happened at Crown in 2019 and what is coming next?
The following is a short report that throws light on three central dimensions of the Crown project: 1) Community engagement 2) technical innovation and 3) project governance. What has happened at Crown during this year and what is coming next? Read on to find it out!
1. Community Engagement
Community engagement plays a central role for the functioning of Crown, as the Community decides on the allocation of the monthly Decentralised Governance and Proposal System (DGPS — see Governance section).
We can notice a growing global interaction within mainstream social media such as Twitter (12k+), Medium (1k+), Discord (1k+) Facebook (1.4k+) and on the core project website (over 100k backlinks) which has moved to crownplatform.com.
Additionally, several decentralised initiatives such as crowncentral.net and crwwallet.net generate complementary content and user conversion, as well as engagement around the DGPS.
2. Technical Innovation
The launch of the custom Masternode and Systemnode Proof of Stake consensus system in April 2019 redistributed mining power across currently more than 2400 incentivised full nodes and stabilised the Crown network after suffering the consequences of recentralisation through increasingly pool-only mined SHA256. MNPoS solves known PoS vulnerabilities and prevents staking centralisation through the introduction of a capped PoW related to a fixed collateralised stake:
Next steps:
1) End of October, the NFToken framework will be released to mainnet within Crown Core 0.14 „Emerald“. It comprehends an advanced registry layer for the issuance of non-fungible tokens and aims to create a digital economy around the registration and trading of physical and digital assets on the Crown blockchain:
2) The Crown Core codebase is being upgraded to Bitcoin Core v0.17
Ongoing development and innovation towards releasing Crown Platform 1.0 entail future updates of the Crown Core software. Stay tuned to keep your nodes up to date.
3. Project Governance
When Crown was a merge-mined SHA256 coin, it had Masternode staking and a percentage of the block reward going to the Decentralised Governance and Proposal System fund allocation.
After removing auxpow and making the Master- and Systemnode network the only creators of blocks, the reward distribution was restructured. Today, 75% of the block reward goes towards mining and staking nodes, while 25% of the block reward is retained by the blockchain to be distributed to monthly passing proposals if consensus among the Masternode network is reached. It is important to note that there is no central authority controlling the DGPS and that these coins are „floating“ and only minted directly to the addresses of the proposal owners once and if they have been approved by the network. There is no central treasury or private keys to any governance coins. Most proposal funds go to contributing developers, marketing and design, but anyone is free to submit a proposal and participate at Crown!
Any questions?
Join the Crown Telegram and Discord!
