Ontology Stake Authorization Upgrade on February 5, 2019

On February 5th, 2019,the Ontology team has informed all nodes to start an urgent upgrade of the stake authorisation on the MainNet.

To assist with the Ontology dApp incentive models, Ontology planned to open a third round of node recruitment and introduce the concept of “Ecosystem Node” in March 2019 (further details will be released). During the preparation, we enabled a function that allows nodes to reduce its InitsPos.

However, a node reduced its InitPos before the full function has been released, which caused a temporary reconciliation issue occurred at the end of a consensus round (UTC 14.13pm, February 5, 2019), where the reduced stake entered the stake unlocking process and shared the fees for stake authorization. Click here for more technical description.

Therefore, we carried out an urgent upgrade to improve the function.

During and after the urgent upgrade, the operators of each node have taken measures to protect the interests of all parties in the ecosystem. At present, there have not been any losses. The Ontology team will continue to provide node operators with the latest information and support.

This upgrade is led by the Ontology Foundation. The Foundation intends to take responsibility in the initial stage to ensure the security of the Ontology ecosystem. With the development and expansion of Ontology ecosystem, the Ontology Foundation will expand the scope of the network and enable more partners to operate and develop on their own. We welcome the community to participate in the discussion of more solid emergency procedures. Further thoughts on this upgrade, click here.

The Ontology dApp incentive models initiated by the Ontology Foundation has already begun to take effect. More and more dApps have been launched on Ontology. These models are aimed to create a comprehensive incentive model, the first of its kind, to rebate dApp developers in the Ontology ecosystem. You can read about how to submit your application here.

Thank you for your understanding. If you have any further questions, please contact us at contact@ont.io.

You can read more about stake authorisation update history from here.