The Evolution of Hive: Hardfork 26

in #hive2 months ago (edited)

image.png

Hive is set to run a major protocol update, titled Evolution, on October 11th at 12:00 GMT. We normally run these updates once a year in order to apply changes and improvements which cannot be launched without a consensus-level upgrade.

For Creators and Curators

Curation

Curation restrictions of one vote per 3 seconds (per one block) are being lifted. You can vote as many times as you wish in the same block now. But remember, you are still limited by your RC! This is great for multi-curator accounts where curator votes may have conflicted due to timing.

Need to change your vote? No problem. There is no more vote edit penalty. You will still get curation on the new value of the vote, as if there was no edit at all.

Dust votes, predominant among new accounts without much stake, are now considered the same as regular votes. What does this mean? Right now, if you were to delete a comment it would need to have no votes on it. Otherwise it won't be deletable, only editable. With this change, comments that have a dust vote (and are deletable now) will no longer be such. In short, all votes count.

Account Authority

You may now update your keys twice per hour, not once. This change was made to allow for a safer procedure for changing your keys. This was especially important for the Ledger implementation by @engrave.

HBD

The HBD/Hive ratio prior to the HBD haircut will be changed from 10% to 30%, supporting further stability for HBD and preventing undue price fluctuation due to debt. This also acts as a security mechanism, preventing someone from exploiting the on-chain conversion system.

The new limits, raised from the previous 9%/10% limits, are 20%/30%. Meaning, HBD will stop being printed (or issued as part of content monetization) at the 20% soft limit and reach its hard limit at 30% of the market cap.

You can learn more about the HBD haircut here.

For Developers

Resource Credits

The way RCs are calculated will change to more accurately reflect the costs involved in supporting the blockchain. The RC cost for 'temporary' objects will be reduced while the cost for 'permanent' objects will increase. This will make for a more fair and balanced system. RC regeneration was also altered and unlike before, RCs can no longer go into the negative.

What's more expensive? Operations like claiming account credits, creating new accounts and issuing "custom_json" (JSON) transactions. While this may impact some dapps, it will also encourage optimization as the cost of a "custom_json" operation is now directly proportional to its size; meaning, reducing the content only to the essential elements will be a RC-saving measure.

RC delegation is finally here! Many dapp owners have long waited for this. RC delegation operations can be executed via the JSON "delegate_rc" function (requiring the parameters of 'from', 'delegatees', and 'max_rc'). These can be issued using the account Posting Key in order to limit account risk. A good overview of RC delegation can be found here.

Virtual Operations

Using virtual operations has become more streamlined, with much added documentation in-line. You can get the full list of augmented virtual operations here.

JSON

The Simdjson library was added to validate all JSON operations, lowering the computation cost to validate them by 7x. It is a parsing tool that significantly speeds up json validation, allowing the blockchain to potentially process more and bigger custom_json operations per block.

For Investors and Witnesses

One Block Irreversibility

The much-awaited OBI, which positively contributes to the immutability and finality of blocks on the Hive blockchain, comes into effect this HF.

One-block Irreversibility (OBI) is a proposed protocol change whereby a block will be considered irreversible as soon as a sufficiently large super majority of the currently scheduled block producers vote that the block in question should become the next valid block in the blockchain. The goal of this protocol change is to enable most Hive transactions to become irreversible within a few hundred milliseconds (before a second block has even been produced, hence the name “One-block Irreversibility”).

You can read more here.

Witness Nodes

All witnesses are expected to be ready for the HF. If you're unsure how to update your witness please refer to this helpful guide.

There are some exciting changes for witnesses as well. Block logs may now remain compressed online and offline, saving valuable server space.

Cli_wallet

Several improvements have been added to the cli_wallet for power users including:

  • Added –version option to show wallet version.
  • Extended the about command to show the chain id and server_url of the node being used.
  • Can use account authorities to sign transactions.
  • Supports offline operation.
  • Allows shutdown of the wallet via Ctrl-C (same key-combo as the hived node).
  • Wallet info can be exported in different formats (textformat, jsonformat, noformat) to support easier integration with other software.

This is our third community-driven hardfork of the Hive blockchain protocol made possible by our tirelessly dedicated developers, witnesses and contributors. Myriad tests and updates have already taken place and we are all excited for the change-over.

Thank you for being part of the Evolution of Hive! 🐝

Sort:  
There are 2 pages
Pages

Thanks and well done, it looks like a well rounded out release.








The rewards earned on this comment will go directly to the people( @jaraumoses, @coldbeetrootsoup, @cageon360, @rubencress, @sacra97, @fabian98, @jagoe ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

Been a long wait, let's hope for a smooth transition!

yes thank you all for your work 😎

Super.

When will there be a smart-contract system on Hive?

Awesome!
PukuMundo and Hive are waiting for this new changes that will benefit all of us
Good work

Ready! =) tomorrow night for me. Looking very positive so far. Eager to see how this one goes, advancements like these are not every day.

Nice

Really excited for this one!
Lets go :)

Looking forward to a smooth transition into Hard Ford 26, I know there has been an incredible amount of work put in by the development team producing and then testing the code to ensure it works out as planned.

Which onboarding efforts would make the most use of RCs for account creation? Will account creation tokens also be transferable?

Which onboarding efforts would make the most use of RCs for account creation?

Big accounts or businesses can use account creation to still create accounts for their "customers" for free (but now that will compete with the value RC will have too). And on top of it, they can delegate RC instead of HP... making it much cheaper to onboard new users.

Will account creation tokens also be transferable?

No. Account creation tokens are still bound to the account that claims them.

I was thinking more of projects like @hiveonboard, and perhaps @PeakD.

They've been using @ocdb's account credits.

Well, many gave authority for the posting key. So, they will be able to set an option if you want your account to provide RC help in exchange of something??? Just an idea…

I don't follow.

RC delegation will be possible using the posting key authority. And most users that use ecency or peakd, etc... have allowed posting key authority to these UIs. Like you for example:

image.png

Nothing to be afraid of, because these are trustable accounts that will not use your authority without previous consent from you. But effectively an account with authority to broadcast transactions can use the same authority as your posting key (in this case) without you authorizing anything with your real private key (the key is not known to them) (and only while the authority is permitted).

They could if they wished, delegate RC to other accounts. So, what I see going forward is (and this my speculation only), ecency or peakd asking users to tick a box if they would like to help new users with RC delegation or not, in exchange for whatever they see as a good tradeoff.

Probably there will be "donations of RC" too?... not sure. I will probably run some giveaways of RC too...

Awesome job!

la-colmena's witness is already running HF26!

Let's hope that everything goes as smoothly as possible on October 11!

Well done!

wow huge update, looking forward to it :)

Is there a way to see the new RC cost for all operations such as posts, comments and upvotes?

Seems good. I will look at RC. No idea what that is
Voting power is always super low. I usually vote 100% so it worth a $1
On peakd.
Are you saying I should limit my upvotes.

Each upvote you cast reduces your VP (Vote Power), such that you have ~10 upvotes per day at 'full power', and thereafter the value of your vote declines. Because of this I usually (always) vote at 25% power, so that I can cast ~40 votes per day because I read a lot and upvote the great content on Hive.

Hope that helps.

Edited for corrections.

Each vote cast reduces RC, not HP. Each upvote cast increases HP.

Yeah, and each upvote reduces the value of the next one, change starts to be significant after these 10votes daily are reached

Voting Mana (VM) is responsible for that effect.

If your VM is 100%, your vote is worth maximum potential. It would then take roughly two hours to fully charge VM back up to 100% after casting that vote. I try to keep mine above 90% at all times.

@gtpacheko17 the future is now with Hive!

No doubts about it friend!

Way to go Hive 🚀

The HF 26 has great benefits for both content creators/curators, developers and witnesses/investors.

Finally!!! All votes count! So which means with a vote of $0.01, the author can earn $0.005 (±0.0025 HBD and ±0.0045 Hive).

Is this right?

Depends on the price of HIVE/HBD but if you think in terms of $'s, then it's 50/50% yes.

Okay
Thank you for the clarification 🥰

I love you HIVE 🥰😍 I wish to see more progress in future.

Great update on HF 26 for authors and curators. Keep the good work Hive

It's a great update and hive will become even better after hf 26.

Thank you for all the ongoing work to protect this chain. I am still concerened about users who get their accounts compromised and drained, as well as those who are getting downvoted with no recourse. Overall user experience is important for growth. I am very interested in learning how to create those custom jsons for on chain games.

Sounds like a good plan! Whatever makes for a better hive. Shoutout to everyone who put work into these upgrades… Thanks 🙏🏾

!PIZZA

🍕 PIZZA !

I gifted $PIZZA slices here:
@s4b4t0n(3/5) tipped @hiveio (x1)
elyelma tipped hiveio (x1)
bigtakosensei tipped hiveio (x1)
jlinaresp tipped hiveio (x1)

Join us in Discord!

This is awesome and a progress to witness more soon.

Nice one, good to see this Updates

Great explanation post about the HF26 Evolution 👍

Awesome.. just few hours away from it. WAGMI

This is awesome, now curators can curate as many posts as possible without time restrictions.

Meaning, HBD will stop being printed (or issued as part of content monetization)
This means that everytime an author makes a post, HBD won't be included in the reward payout?

the cost of a "custom_json" operation is now directly proportional to its size; meaning, reducing the content only to the essential elements will be a RC-saving measure.

But then isn't that forcing dapps to write less, and thus not meet their use case ? Or we expect, they power up to have sufficient resource credits to take full benefit ?

Apps have multiple solutions: be more thrifty with the amount of information they write, delegate RCs to their users or suggest their users to power up more HIVE, ...

Hoping for a smoother transition, would like to see how the RC delegations works out.

Evolution and HIVE on! Am very happy with RC delegation and dust changes.
Good luck to us for a good change :-)

Great update! Exciting times! I know HAF is non-consensus, but will it be fully launched at the same time as HF26 or later on?

Even though I'm no power user nor developer, in my limited knowledge it seems like every proposed change in the HF will be positive in the long run. Personally I trust our Devs and community very much. I'll do my best to understand and help other understand these proposed changes.

I'm jumping right now to the HBD haircut article right now.

Thanks again @hiveio have a !PIZZA and much !LUV

- EvM

That's some awesome news, looking forward to it!

Read it with intrest, thank you!

All good stuff. Hive needs to keep improving and evolving so it can grow. Thanks for your efforts. I hope it all goes smoothly.

It's really a good one
Let's see how tomorrow goes, respect ✌️

Some minor changes to make Hive even better, keep going guys!

new Hardfork and already tomorrow? ;O
but as it appears nothing new is added, mainly already being stuff is changed a bit?

only the HBD haircut from 10% to 20%/30% sounds like a big deal..

oh okay, and the RC delegation also seems like a bigger deal.. :)

Información de gran valor, gracias por mantenernos al tanto

I like this very much !! 😊👍🏻👍🏻

Looking forward to this!

Didn't know the vote time change was even on the cards - that should be a welcome addition for most people.

Some serious things seem to be happening, even if I don't understand everything yet. I hope everything goes well for the hive. And also a smooth transition as everyone mentioned in the comments 😅.

Hardfrok 26.0.Good to know about that. Devlopement and update is necessary for the growth.I am awaiting the update.

I love this evolution, well thought out

Excellent updates! It is impressive the progress that has been made. I am happy and great to be part of the best blockchain out there!!!. Blessings

May the Force be with us all and hopefully it goes all smooth tomorrow!

Thank you for your hardwork :)

!CTP

It's about time 👻

There are 2 pages
Pages