REAL-TIME PAYMENT BLOCKCHAIN

Upcoming GRAFT Software Release and Major Network Update

As was promised in the last week’s post, we provide more details regarding the upcoming major network update. The mainnet release of GRAFT software update has been scheduled tentatively for April 9th, with the major network update to happen on April 16th (specific number of the block that triggers the update, which is hardcoded into the node, will be announced on April 9th).

As a reminder, major network update means that if you are running the GRAFT network node (graftnoded), you must upgrade to the latest software release between April 9th and April 16th. If you do not upgrade your node before April 16th, it will be disconnected from the mainnet. Note that users of mobile and desktop wallets are not affected by the network update and don’t need to do anything – as long as they are still connected to the default proxy supernodes (if you are connected to your own supernode, however, do not forget to upgrade the underlying network node).

This network update will include two major changes and some minor bug fixes. The major changes are the Cryptonight update (for ASIC resistance) and new difficulty adjustment algorithm (for preventing hashrate attacks and stabilizing the block intervals). We are still testing the new difficulty algorithm to determine the best set of parameters. The testing results will be published next week. Stay tuned!

About GRAFT Project

GRAFT is a blockchain based payment processing network the functions similarly to a credit card processing network with off-chain authorizations and in-network atomic swap based interchanges. The network is completely decentralized, able to work cross borders and adapting to local regulatory environment. In addition to decentralization, GRAFT solves four biggest problems that exist in cryptocurrency at a point-of-sale today – privacy, speed, fees, and integration. Technically, GRAFT Network is a two layer (proof-of-work and proof-of-stake) blockchain with proof-of-stake based authorizations and economically incentivized participation with opportunities for mining, authorizations, in-network exchanges, gateway hosting, merchant services, etc.

GRAFT is open-platform, open-source, community project.
Opportunities are available to invest in GRAFT project with additional funds going towards marketing, liquidity (exchanges), additional dev resources, and new initiatives. If you are a qualified (accredited) investor who’s interested, please contact us at invest@graft.network and we will work to match you up with an appropriate investment option.

And of course we will never say no to project donations, providing you with lots of karma points (and an honorable mention on GRAFT site). To donate please send an email to info@graft.network and we will generate a unique donation address for you.