🎆 Happy nOS Year! — Staking Details, Whitepaper Update, Client 0.6 ☄️
We’re excited to end the year with our brand-new staking and economics details, Whitepaper 2.1, and nOS Client 0.6 🌟
This year, let alone the decade, has been amazing for us.
We now have everything in place to deploy nOS Network, which will power the ecosystem as described in the whitepaper.
Below you’ll find our final updates for the year, featuring:
- Staking Details (10,000 NOS Minimum)
- nOS Client 0.6 Update: Full Release
- Whitepaper 2.1 Update: New coin economics and technical details
A lot more will follow in 2020!
nOS Client 0.6 Full Release
Version 0.6 of nOS Client is releasing tomorrow, featuring:
- Master key management: Use one mnemonic to create and use many wallets for any blockchain.
- Enhanced Ledger support for multiple account management.
- Sleek dark theme.
- Various enhancements and fixes.
nOS Client will automatically update the next time you start it.
We’re now working on the next version of nOS Client, which will offer:
- Full integration with nOS Network and ARK Public Network.
- Native staking & voting manager for nOS Network.
- Introduction of a full feature-toolkit for web apps.
- Tools for apps to interact with the nOS Client without needing to use the built-in browser.
- Allow for any app to easily integrate one-click NOS payments, log-in, and voting.
- Full migration to Typescript to bring new features faster and with more efficiency.
Scroll further down for a tutorial on how to import 0.5 accounts into 0.6.
Whitepaper & Economics Update
The whitepaper has been updated with the following data:
- Minimum 10,000 NOS required for staking.
- New summary and coin utility details.
- Delegates can now optionally serve as database curators.
- Users will only need to vote for a delegate, instead of a delegate and a curator.
- Updated economics (block rewards, staking bonuses) to reflect the above changes.
- Faster block reward halving schedule (every 3 years instead of 4).
For your reading pleasure, here’s the new project TL;DR summary:
TL;DR Platform Summary
nOS (pron. æn-oʊ-æs) is a blockchain platform for decentralized curated content.
NOS (pron. nɔs) is the network’s native cryptocurrency, which powers the blockchain’s Delegated Proof of Stake consensus model, and the B2B/B2C business frameworks that exist on the platform.
The platform also introduces an App Store that is decentralized (maintained entirely by voter-elected delegates) allowing for fair and transparent distribution and discovery of web-apps and other types of content.
While the App Store is the first end-user application that utilizes data from the nOS network, any type of content can be curated by delegates, and retrieved and displayed by apps and users.
With the platform’s novel approaches to content monetization and distribution, even Free and Open Source content and applications can scale on technological and financial levels.
NOS Cryptocurrency
The NOS cryptocurrency (symbol: ◎) represents Vote Weight on the network (1 NOS = 1 Vote Weight). This Vote Weight lets NOS holders vote for delegates. (Ex.: a wallet with 10 NOS is worth 10 Votes when they vote for a delegate.)
The top forty-seven delegates on the network with the most votes forge blocks and earn block rewards and transaction fees.
Delegates also form a decentralized network of content curators. They can list apps and other types of content, which can be indexed by third-party services such as app stores, video sites, and content sharing platforms.
The services that display this curated content can also use the delegates’ received votes to measure how the content should be ranked and represented on their services.
NOS is not spent on voting (apart from a small transaction fee when setting a vote). Instead, the vote weight of a nOS wallet is calculated by its NOS balance and stake:
NOS holders can lock NOS in their wallet for a set period of time to increase their vote weight without extra costs. This is called staking. For example: 10,000 NOS staked for 3 months equals 50,000 Vote Weight, instead of 10,000 Vote Weight when left un-staked.
In conclusion, the NOS cryptocurrency not only affects delegates’ positions as forgers on the network, but also influences business activity and interaction between delegates, apps, users, and voters.
How to import your nOS 0.5 Account to 0.6
- Create a new wallet in the 0.6 nOS Client.
- Click the 👛 Wallet icon.
- Click on Key Management, next to Portfolio:
4. Click Import Account in the top right, next to My Account.
5. Click Import Legacy Account.
6. Select the 0.5 account you wish to import and enter that account’s passphrase, and your new 0.6 wallet’s passphrase.
7. Your wallet is now imported!
To switch between active wallets for transferring funds and using apps, click on the ⭐ star next to any wallet in Key Management.
We’re very excited to have made this much technological progress this year, and we can’t wait to put everything out in the world in the next!
Here’s to an amazing 2020! 🥂
