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Development Progress of GateChain: Desktop Version Supports PoS mining Through Proxy

2020-06-18 18:04:50Read:40150

The intensive testing of GateChain’s Testnet 4.0 prior to the Mainnet launch is ongoing. Tests mainly cover the stability and performance of the Consensus algorithm under a highly decentralized condition. Currently, we are conducting non-stop pressure testing with more than a hundred consensus nodes globally under different network conditions.

Regarding staking rewards for PoS mining, solution 2.1 was exercised: adopt GT both as platform and mainnet tokens without issuing GC; 30 million GT tokens from the team will be used for staking rewards through PoS mining in the upcoming 10 years or more. Additionally, the protocol will be updated to halve the production within 10 years to further lower inflation.

PoS mining through proxy (Delegation) has been launched in the Testnet. Users who are not able to build their nodes, can use one-tap PoS mining through proxy with the proportion of GT according to their needs. To experience one-tap PoS mining through proxy in advance, please download the newest desktop wallet (Windows and Mac OS supported):

First Time Users:
Users need to set a password (password will not be uploaded to the server) to sign in after installation. This way, the wallet is password-protected.

Click into Wallet:
Users need to create a normal address (Normal Account) and set an independent password for their funds. After getting into the address, test tokens can be acquired by one tap. It will be shown in the account in seconds. Click on "delegate" and choose the proportion of GT (the proportion of GT is not the funds, so it will not affect the safety of your funds). In this way, users delegate a certain mining node to do PoS mining. After seconds, mining will start to make profits.

Currently, users can delegate any one or more of the following mining nodes to do the test:

Wallet Page:

Successfully Delegated

My Delegation

Delegation History

Withdraw Profits

Recent development progress has been listed as follows:

1. Pressure testing has been proved to be stable for a week following the deployment of up to 100 nodes on Devnet, with 5 in Atlanta, 11 in Fremont, 8 in Toronto, 16 in Tokyo, 10 in Singapore, 10 in Mumbai, 10 in Sydney, 10 in London, 5 in Frankfurt, 5 in Newark, and 10 in Dallas.
2. Addressed the problem of unstable network in some nodes in the event of 1,000+ TPS
3. Developed the features of GT desktop wallet and hardware wallets
4. Conducted API integration testing with PoS parameters
5. Added Hash-based signature procedures
6. Optimized the GateChain node monitoring tool
7. Improved visualization and monitoring for node topologies
8. Finished the second regression testing for GateChain features (Two times to go before Mainnet launch)
9. Updated the GateChain command line and API as well as variable naming and documentation
10. Optimized Gatemint-based unit testing of codes and code conventions

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June 18, 2020

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