[Weekly report] October 15

SGS integration completed | Mainnet & Wallets update| LBTC on Inc.com | LBTC bounty program Hero | LightningBTC UK


  • LBTC completed the development of the SGS (Spark Governance System).
  • After the SGS integration, the first proposal has been successfully passed and implemented on LBTC chain. The proposal suggested: [Remove the block high data before the fork, and forbid claiming the remaining LBTC by bitcoin holders]. At present, LBTC has completed the upgrade according to the content of the proposal. On October 11, 2018, LBTC officially entered a new era!

Tech progress

  • SGS launch;
  • LBTC main network upgrade according to the passed motion;
  • Update the Full-node wallet and Light wallet to the latest versions v2.0.0 and v0.1.0.;
  • Upgrade of the mobile wallet wallet.

Full-node wallet

  1. Single address mode:
    One wallet corresponding to one address, and only one address of the coin can be used for each transaction. Before update one wallet was corresponding multi-address mode. After the update, the operation page of the wallet client is more concise, efficient, and more user-friendly.
  2. Forging node algorithm modification:
    The forging node algorithm is updated. Under the new algorithm, the order of forging nodes is more random, what is further reducing the risk of human manipulation.
  3. Delete old data:
    According to the passed proposal old data was deleted and code was modified. Removed the block high data before the fork, claiming remaining LBTC is not possible.

Light wallet

Switch to single address mode, i.e. wallet only generates one address

Mobile wallet

  • Android wallet development test;
    1. completed the forging node registration, voting, cancellation transaction signature and corresponding bug fixes;
    2. solved the problem of sending signatures for forged node coinbase transaction;
    3. optimised the consolidation, storage and unspent calculation of historical transaction data;
    4. modify the tested user interaction and other bugs.


LBTC chain governance voting results released
During this month of integrating on-chain governance, LBTC community members actively joined the board and issued three proposals.
Proposal 1: Lower the threshold of the node and adjust the number of user votes to 21 votes
Proposal 2: Remove the block high data before the fork, and prohibit the claiming of LBTC
Proposal 3: Implement Dynamic Fees System
As for the afternoon of September 30, thousands of addresses participated in the voting on the chain governance proposal. The final proposal was voted on and became the final proposal.

LBTC main network upgrade on October 10

The LBTC upgraded the main network on October 10 and completed the upgrade on October 11. The latest version of the wallet can now be downloaded from the official website.

Pay attention to these changes:
1) The original node data will be cleared before the upgrade, so the original node needs to be re-registered and voted after the update is completed.
2) This upgrade will update light wallet corresponding multi-address mode in the old version to a single-address wallet, and only one address can be used for transactions.

LBTC chinese WeChat account migrate to 知识星球.

LBTC Chinese social account migrates from the WeChat to the Knowledge Planet (知识星球) and LBTC Chinese Medium blog, all the links will be updated in the mobile wallet information bar.

New LBTC Knowledge Planet account has three sections: LBTC Official, LBTC Tech and LBTC Community. All official announcements, technology updates, community news will be published for the Chinese community there on the Knowledge Planet and Chinese Medium, stay tuned!
Knowledge Planet Name: LBTC Chinese Community


LBTC Android wallet release next week

The LBTC mobile wallet will be released next week as scheduled, and the Android version will be given priority. After the product runs stably, the iOS version of the mobile wallet will be launched. This version of the mobile wallet has the same functions as the Windows light wallet, supporting the creation of lightning nodes.The on-chain functions are coming soon.

LightningBTC UK http://lightningbtc.uk/

LBTC community member created Lightningbtc UK website. The homepage displays the wallet income of the community members, the introduction of LBTC, the introduction of LBTC forging revenue, and the news related to LBTC. An intuitive revenue display and generates an interest in understanding LBTC.

LBTC team appreciate the great work done on that website!

LBTC Light wallet tutorial video

The LBTC Community uploaded Light Wallet Tutorial Video (Chinese version) to Youtube and Tencent Video, and the English version of the Light Wallet tutorial will be uploaded soon. The video explains lightning nodes related operations and on-chain management related operations. If have any questions or doubt in how the light wallet operates, click on the video to watch it. You are also welcome to like it on the Youtube channel :)

LBTC “Hero” plan at low start

LBTC pre-opens the “Hero” program as a supplement to the LBTC lightning program. After getting the Hero level rating, you will be able to get more LBTC benefits, the program will be launched together with the Bounty website. Use the #LTBCHeros tag on social media accounts to share the news and get more points. The LBTC “Hero” program is about to start!
LBTC Hero on Reddit

LBTC featured on Inc.com: “Can You Retire on Cryptocurrency?”