Monthly Recap May. 2021
In May, the team has focused on new phase of testnet, and have started to plan the development and release schedule in the following mining testnet program at the same time.
In Phase3, the goal is to verify the success rate of installation, and improve the guide of installation docs.
In phase4, we set the minimum requirement of devices, aim to test the node’s stability. We also try to test the operations of multi applications on the end node. For who participated in the test and uploaded the test information on the checklist will be qualified for the QQQ reward.
Furthermore, we are planning a longer-term program to create more incentives, developing a point distribution scheme which could reflect the actual contribution to reward miners who are willing to continue participating.
- Mining testnet phase3 ended. Reward distributed in May 17th.
- Mining testnet phase4 launched on May 11th.
- QAS profit sharing mechanism continues. For those users who deposited before 2021.04.30, will be qualified to join the profit sharing points which will be distributed on 2021.06.01
- The total amount of the decentralized storage we have provided to institutions have surpass 6M files, 250TB+.
- Community created content : Special thanks for Ruri & CryptoHan who has created the content about “Poseidon Mining testnet” which article explained how to set up node to join the testnet program.
01. Technology Development
Mining testnet phase3 ended. Reward distributed in May 17th.
The Phase3 phase aims to verify the success rate of the installation and at the same time confirm whether the installation guidance is sufficiently complete. The average success rate is 75%, and the instructions for installing QLauncher and setting nodes are continuously supplemented to improve the success rate of installation and provide data support and reference for the subsequent test network.
Mining testnet phase4 launched on May 11th.
We aim to verify the success rate and integrate several storage protocols into edge devices.
The testing process at this stage is expected to take another two weeks till mid-June. The current team is conducting functional tests and updates before Phase5 goes live, and at the same time planning the testing process and functional development of the test network Phase6
Phase 4 aims to verify whether the decentralized storage protocol (IPFS service) can be successfully activated on the user node. In the future, more storage protocols and functions will be integrated, and the verification contribution and node performance evaluation will be carried out at the same time.
- Qlauncher testnet phase4 → https://lihi1.com/A5sLg
02. Token Economy
QAS Profit sharing continuing
2021.05.01 Continue to trial the QAS profit sharing mechanism, with a total amount of 300,000 QQQ; all those who have deposited QAS to the official QQQ APP before Apr.30 23:29, and have not been transferred anytime before May 31, 2021 23:59, are eligible to participate in the current month’s profit sharing. In 2021.06.01, the profit sharing reward had been issued.
On June 2021, the trial run will continue, and those who meet the qualifications will receive profit sharing points on July 1st.
03. Business Development
Growth 25% in files, 60% in used storage since April.
In Business side, Poseidon Network have cooperated with several institutions to verify the system and scale it. It aims to provide lower cost storage solutions, accumulated over 6,000,000 files, 250 TB+ used and those numbers steady growth.
We also assisted the construction of nodes and optimize the background operation interface.
Now, a number of institutions and industries have cooperated with us, docking based on the “low-cost storage space” service provided by Poseidon Network, assisting in the construction of nodes and optimizing the back-end management interface. Due to the epidemic in late May, the actual progress was slightly lagging behind.
04. Marketing and Cooperation
This month, we have focused on user feedback and data optimization of the mining testnet, without participating in the public roadshow. We are looking for promotion channels and KOLs we can cooperate with. If you are willing to work with us, you are welcome to directly contact the administrator, or write to service@poseidon.network.
Beside Mining testnet, there’s no extra campaign this month. But we want to thanks some of members they help us to create content for promotion.
[ QQQ 挖礦測試網，安裝節點即領取 80 美金獎勵 ]
@Cryptohan wrote an article to promote Poseidon Mining testnet to others. Make a summary about what is Poseidon Network and what’s the purpose of this mining program. And some common problems user might face during the installation.
The article also explained the software QLauncher and the token economy of QQQ Token. In the node network should be added before joining the testnet, and the fluctuation risk of cryptocurrencies should be reminded. Careful assessment should be made before joining.
The three steps that should be completed before setting up a node: the hardware meets the specifications, the designated port is opened, and the administrator authority is enabled
Guide to Github to copy the installation instructions, follow the steps to complete the setting of sharing resources, and finally copy the SN and submit it to the administrator for review
Unify the exchanges currently available for trading QQQ : Bitforex, Hotbit, ACE Exchange
- Introduction 👉 https://lihi1.com/d7iJv
[ QLauncher on Linux ] Install Guide
We demonstrated how to set up a Poseidon node in the install guide video.
The device is a Linux system. Before setting up the node, you must first install the Docker engine according to the instructions.
After the completion, enter the command to successfully install QLauncher. After the installation is completed, a prompt will automatically pop up, asking the user to share the size of the hard disk (the system reference value here is based on the “available hard disk space” data display)
Finally, it shows how to obtain QLauncher info (including device SN), confirm the online status of the device, and the operation status of the node service.
Special thanks for @Ruri. He’s one of core-miners in Macau and help us to complete this install guide.
Thank you for keep following the current updates for the Poseidon Network. And also thanks to the everyone in the community to support us for such a long time, it’s the second month in second quarter and we will continue development in the following months.
The team will continue to focus on research and development, update software, and explore new business cooperation and applications.
Please feel free to contact us if you want to contribute in the Poseidon Network in any way !
Official account| Medium , Facebook , Twitter
Community| Telegram(Ch) , Line (Ch) , Telegram (En)
