REAL-TIME PAYMENT BLOCKCHAIN

GRAFT “Anti-ASIC” Major Network Update 1.5 on October 31, 2018

Last Updated: October 25, 2018

GRAFT developers just released a new version of GRAFT software for the upcoming major network update that will introduce a new variation of the PoW hash algorithm which prevents ASIC mining. Network hashrate is important, but it is not the only factor in blockchain security. The way this hash power is distributed between the miners is also important. ASICs break the balance and facilitate centralization (concentration of hash power) which can be dangerous for the network.

The major network update will apply a new variation of CryptoNight hash algorithm (CryptoNight V8 / CN variant 2) which is currently ASIC-resistant. The source code of the new version 1.5.1 can be downloaded from master. The Linux (both Ubuntu 16.04 and 18.04) and Windows binaries are available for download from github.

The major network update (aka hard fork) in GRAFT mainnet is scheduled for Wednesday, October 31st at block 207,700 (block 194,130 in GRAFT testnet tomorrow, October 24, 2018).

The major network update means that if you are running the GRAFT network node (graftnoded) you must upgrade to the latest software before October 31st. If you do not upgrade your node before October 31st, it will be disconnected from the mainnet. Note that users of GRAFT mobile and desktop wallets are not affected by the hard fork and should not do anything – as long as they are still connected to the default proxy supernodes (if you are connected to your own supernode, do not forget to upgrade the underlying network node).

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-driven 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.

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