SPK Network 1.1 Milestone Achieved:
At a glance:
- The Good
- Most user's saw a smooth transition from 1.0.11 to 1.1
- All features are preforming and user's are earning SPK
- The UI worked well enough considering...
- We have new and experienced node runners.
- The Bad
- Privex had a poorly timed outage that effected UI for some people
- A select few nodes prolonged the Hardfork significantly
- The Beautiful
- The node software performed admirably, and self-healed it's inattentive fork
- SPK Monitor looks amazing
- Yet to find a bug in the consensus software
The Good
Smooth Transition
Inside of a reasonable time the wallet page was made public and users started interacting with the upgrade fork. This was slightly delayed due to our instant API being unresponsive due to a power supply failure in Sweeden. After this was fixed some users had to reset their browser cache as our UI switched back to the instant API and the backup came offline. Other than dumping the browser cache end users enjoyed a relatively seamless and timely upgrade.
Users are Earning SPK
Now that it's been a day since accounts have made their power ups and delegations you'll see your SPK balance start to increase. This happens every 24 hours after the first transaction that effects this calculation... so the earlier you worked for the tokens the sooner you'll see them. If you are a pro-user that consumes raw API be sure to read the footnote below to help you understand what's going on behind the scenes.
New and Experienced Node Runners
Some of the best and brightest of Hive have dedicated a little time and CPU cycles to earn the highest rewards and become eligible for delegations. They will more than likely inherit the Multi-Signature authorities to the @spk-cc account which is the layer 2 anchor and I for one couldn't be more thrilled to have them aboard.
What this means for our average node running accounts? Well, while the "Governance threshold" will go up you are only competing with the lowest endowed half of the runners group; A new outlier doesn't effect the threshold much. In addition, the DEX fee share is per block your account is a node runner, so while a larger account will be elected first... they will still be rewarded at the same rate as the smallest node runner.
The main advantage of the 1.1 ecosystem is earning the SPK governance tokens which will effect voting in the future. The larger the balance the more you can vote. LARYNX miner tokens are still cheap at roughly 1 cent... It's a lot cheaper to get them than to have acquired the same amount of Hive to have been airdropped the same amount.
The Bad
Privex Outage
Not much more to say than it was a small hiccough that also happened to coincide with Google dropping a good portion of their services. Nobody is perfect, but I can still apologize to any effected users for the inconvenience.
The Few
The way our chain is anchored works around a pure proof of stake system. When only 1 of 3 key holding accounts upgraded to the new software in a timely manner, their software moved the keys to even less interested accounts. The new software didn't effect the DEX much so those operations continued on both forks with out incident. We did have to round up the nodes that held the keys and make sure 2 of those 3 updated at the right time... at least we thought.
The Beautiful
Self Healing
Eventually enough nodes switched to the new fork that the old fork didn't have what most English speakers call a quorum. This condition slowly lowers the quorum requirements until the new fork was elected as the correct fork of the 1.0 software. Since 1 of the 3 key holders moved to the new fork, and 1 of the 3 key holders missed a block. Now you'll see nearly all nodes agreeing with the new fork... but with out the new routines they'll drop out of consensus any time a new contract is triggered that they can't calculate.
Even software that hasn't been updated will approve current fork runners as the new key holders, thus resetting our anchor.
SPK Monitor
@hivetrending has been hard at work bringing the new features to us all in intuitive new ways. If you are considering a node to delegate to @pizza.spk should be on your list.
No Consensus Bugs
We're looking forward to your feedback which you can leave here, or on Discord
Your Support
Getting all this to work, explaining, and herding node runners is a lot of work. Even when I'm not "working" I'm still thinking of ways to improve, attack, and secure our layer 2 and Hive in general. I would love your consideration for Hive Witness (@disregardfiat) or your LARYNX Power Delegation to @regardspk.
API Interpretation Footnote.
SPK earnings are calculated before any transaction that will effect SPK or Larynx Liquidity or Power, but only after a full 24 hour period. To do this you'll need to interpret SPK balance as follows. You are allowed to send SPK that is currently in the 'phantom' state.
var userapi //from fetch(spkapi + '/@' + username)
var statsapi //from fetch(spkapi + '/')
var phantomSpk = phantomSpk()
function phantomSpk()
var r = 0,
a = 0,
b = 0,
c = 0,
t = 0,
diff = userapi.head_block - userapi.spk_block;
if (!userapi.spk_block) {
console.log("No SPK seconds")
return 0;
} else if (diff < 28800) {
console.log("Wait for SPK")
return 0;
} else {
t = parseInt(diff / 28800);
a = userapi.gov ? simpleInterest(
userapi.gov,
t,
statsapi.spk_rate_lgov
): 0
b = userapi.pow ? simpleInterest(
userapi.pow,
t,
statsapi.spk_rate_lpow
) : 0
c = simpleInterest(
userapi.granted?.t > 0
? userapi.granted.t
: 0 + userapi.granting?.t > 0
? userapi.granting.t
: 0,
t,
stats.spk_rate_ldel
);
const i = a + b + c;
if (i) {
console.log(i, "Phantom SPK")
return i;
} else {
console.log("0 SPK")
return 0;
}
Thanks for the shout-out!
Its looking cooler and cooler by the day =)
~~~ embed:1557501492302848000 twitter metadata:Zm9ya3lpc2hlcmV8fGh0dHBzOi8vdHdpdHRlci5jb20vZm9ya3lpc2hlcmUvc3RhdHVzLzE1NTc1MDE0OTIzMDI4NDgwMDB8 ~~~
The rewards earned on this comment will go directly to the people( @threespeak, @forykw ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
This is the beginning of something big, especially for visual content creators.
Just delegated 2K Larynx to regardspk. Hope to start getting my spk token soon 🤝
I really hope this booms! I think it will attract a lot of new creators… it feels like something special for sure.
Do you know if spk network supports audio podcasts though?
pizza.spk is one of them I'm on great team on that one. I figured delegating out to a few would be better then stocking it all in one person. Are there details as to what the green, yellow and red box means when delegating to a witness?
GREEN (in sync)
YELLOW (a bit behind)
RED (a lot behind)
It's coming together nicely! Glad to be putting that SPK to work.
I am trying to understand. But it looks very interestinG!
!PIZZA
!PGM
!LUV
PIZZA Holders sent $PIZZA tips in this post's comments:
lespipirisnais tipped disregardfiat (x1)
@torran(7/10) tipped @disregardfiat (x1)
Please vote for pizza.witness!
!PGM
!PIZZA
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It's happening!!