Dev Update – WW14 2019 – RTA, M13, LYRA

LYRA Update

We hit a big first milestone with LYRA DPoS architecture this week – a very early first proof-of-concept version was shown by Slava. LYRA combines delegated proof-of-stake (DPoS), private transactions, and chain collection (no single blockchain!). Why are we working on LYRA now?
There are several reasons for that: 1) we’re in the field that is developing extremely rapidly and favors projects that not only deliver the functionality, but also (and perhaps most importantly) offer technology leadership. 2) A DPoS architecture will be useful in different ways over time, starting tentatively as a sidechain solution for merchant tokens / loyalty programs.

Are the Merchant Interested in Decentralized Payment Network? – Survey Report

Last night we published a report on Medum – Are Merchants Interested in Decentralized Payment Network – Why and What’s Standing in the Way?

The report is a summary of the Merchant Survey we’ve been running for a while and will continue to run in order to gain insights into the market and validate the assumptions we’re making as well as priorities we’re setting for the product development”

Enjoy the read – we hope you find the information useful.
“Claps” are appreciated as they help raise the visibility on Medium

Full Supernode Release -Stimulus Mode-

As promised, we’re very happy to be delivering the much anticipated big SuperNode release today!

It has been an incredible journey with lots of hard work, learning, stumbles, and small victories along the way! We owe a big Thank You to everyone who helped us get here!!!

GRAFT SuperNode | GRAFT Node

To get started with the Supernode, you will need to install new GRAFT node and the SuperNode. You’ll find install instructions and binaries in github using links above.

Easy Install Guide

(thanks Tiago!)

Staking is done via “cold wallet” staking transactions as described in the guide and install instructions. Staking transactions expire based on your preferences and can be added up for a higher tier.

RTA sample is chosen randomly using the staked blockchain based supernode list embodying the real RTA implementation.

The next few months will be spent building up the network using stimulus transactions, flushing out any bugs and vulnerabilities and finishing the workflow. We will then roll out mainnet production-ready external RTA API support along with new wallets around May-June timeframe, to run on top of a robust and stable network.

Network Upgrade

Public testnet seeds are being upgrade later today at block 287770

The mainnet network upgrade is scheduled for March 20, around 14:00 GMT, @ block 308460

(updated)


With that, we would like to invite you to take a minute to celebrate with us!

(virtually for now, although we are thinking of doing a GRAFT user conference in not so distant future)

Release Notes:

Included:

  • Supernode communication and tier-based authorization selection
  • support for “cold wallet” staking transactions
  • RTA fee distribution

Not included:

  • RTA sale transactions external API and flow
  • client support

RTA Staking Primer

Do People Really Need or Want an Alternative Payment Network at the Point of Sale and Why?

We recently ran a poll among Twitter followers, asking people to explain what makes them interested in paying with crypto (implied, using a decentralized payment network) at the point of sale. The three choices that were given represent the three main benefits of a decentralized payment network as we see it. We asked respondents to prioritize these benefits as it relates to them personally and whether they would consider paying through an alternative payment network with cryptocurrency, and why.

Privacy

Privacy is something that you simply do not get with the regular credit/debit payment networks. Your purchase data can be lifted (hacked, subpoenaed, etc.) from payment gateways, payment processors, payment network own databases (Visa, MC, Amex, etc), acquiring bank, issuing bank. Unfortunately, you have practically zero control over protecting this data. We realize that privacy can be used to hide things that are not legitimate; however, we believe that privacy is a fundamental right people have (consistent with the latest GDPR guidelines).

Cross-border payments

If you have ever tried to pay for things overseas, you know that it’s not trivial. From little things like getting hit with foreign fees on every transaction (sometimes equaling or exceeding the amount of the transaction), to having the card be blocked based on bank rules, OFAC lists, etc. If you’ve ever been in a situation when you card is declined, you don’t have cash, and you’re stranded in a foreign land, with limited use of the language – you will know exactly how important being able to transact cross borders without any artificial limitations is.

Credit card fees

This category was the clear winner of the poll, and for a good reason! Most of credit cards (issuing banks really) employ a “got you” type of business model. They offer attractive introductory rates and purchase rewards, only to slap you with all sorts of fees and charges, should you be late with your payment; and since everyone is late at one time or another, this becomes an incredibly profitable business model, where the consumer is made to believe it was their own mistake that lead them to having to pay up.

Other

People have also commented that another big reason they want to use a decentralized payment network is to “stick it” to big banks. This is an understandable sentiment, considering how much money those banks make on people and how unfairly stacked the system is to the little guy.

Summary

People often think of cryptocurrency payments at the point of sale or ecommerce as just a way to spend the value they have accumulated, where in reality it can be much more than that if paired up with the payment processing network that is ubiquidous, private at the core, and capable of serving as an alternative to bank-backed credit / debit cards. This type utility, however, isn’t going to be achieved by a centralized payment gateway – it requires a real, decentralized payment NETWORK behind it.

We test our hypothesis periodically to make sure that we don’t work on something that’s not connected to the market needs, so this type of polling helps us stay on track. Thanks to everyone who participated!

Follow GRAFT on Twitter




The future of GRAFT as Delegated Proof-of-Stake (DPoS)

It’s Valentines day, so we thought it would be appropriate to show some extra love for GRAFT 🙂

We wanted to lift up the covers a little bit on what we’ve been thinking about over the past few months as what the future holds for GRAFT’s technology. Please meet the beginnings of LYRA DPoS*- the Next Big Thing for GRAFT Platform, based on the most recent advances in the field.

Down cycles provide an opportunity to hunker down and build a great solution in preparation for the upturn and market expansion. The market WILL return and when it does, it will reward those who have the most advanced technology for the application, so we need to be ready for that!

The keyword is BUIDL!

Enjoy the read – we hope you will come away as inspired as we have been with it!
As usual, we welcome your feedback – please use github’s issue subsystem to comment.
https://github.com/graft-project/LYRA

* DPoS stands for Delegated Proof of Stake

** GRFT isn’t going away – it will remain the voting and gas/reward currency in the new DPoS platform

RTA Alpha 4.2



Alpha 4.2 is ready for testing!

Release notes:

Cryptonode:

Tag: v1.3.4.2-alpha4.2, https://github.com/graft-project/GraftNetwork/tree/v1.3.4.2-alpha4.2

Changelog:

  • reduced announce traffic: announces relayed to random peers selected with probability = 1/N
  • RTA messages transferred over handshaked P2P connections (RTA doesn’t make new connections)
  • fix: do_broadcast, do_supernode_announce: notify called outside of foreach_connection loop (to fix random segfault)

Supernode:

Tag: v0.4.2-alpha4.2, https://github.com/graft-project/graft-ng/tree/v0.4.2-alpha4.2

Changelog:

  • semi-random announce period (added random factor to update period)
  • fix: “can’t build auth sample” error while buiding auth sample first time



ColdPay IndieGogo Campaign – Live Now!

As we mentioned in the previous communications, we are launching an IndieGogo campaign for the ColdPay card.

Why we’re doing this and why now?

In order for the network to gain the momentum as quickly as possible we need to create awareness and “pull” from both sides of the marketplace. What better way to reach the first potential users and influencers than a cool multicurrency cold wallet / payment card – something that they will initially use to make their cryptocurrency wallets safer and eventually use for payments.

With the campaign now and a first batch scheduled for late May / early June, we’re looking to create some good buzz in the marketplace shortly prior to, during, and shortly after RTA Mainnet launch (not to mention putting a useful product into people’s hands that reminds them of GRAFT).

Impact on RTA development timelines

ColdPay leverages the same development investment that we have to make for the mobile wallet and POS support, including web wallet and payment gateway, so from that standpoint we’re not incurring additional development overhead.

There’s a limited amount of specialized development both on the card and one the provisioning interface, but that work is confined to several part- time engineers who do not participate in core development. So overall impact on the critical path core development is minimal.

Participating in ColdPay IndieGogo campaign



The campaign is now OPEN! There’s a first 100 card Early Bird Secret perk we’re making available to the community.




RTA Mining on Mainnet


Often times as engineers we have a tendency to wait to release something until it’s complete and final. This however is not always practical, especially when it comes large complex projects like RTA Supernodes.

We have given it a lot of thought over the last few weeks and decided to break up the Supernode release into two phases. While we’re continuing the work on fine tuning RTA workflow and communication protocol in preparation for mainnet beta, we will first roll out what we’re calling an “RTA Miner” – an RTA Supernode that stakes, participates in RTA communication, and gets revenue from the stimulus transactions.

Goals

This release will allow us to:
  • Test the supernode concept on the scale of real network (there is a limited number of alpha supernodes)
  • Fine tune the economic model including stimulus distribution model
  • Draw attention to the project (enter masternode listings etc.)

Scope

  • RTA transaction will not be enabled in wallets and POS clients (only stimulus transactions will be enabled, but they do not require GUI clients)
  • No requirements to RTA TX performance (time, fault tolerance, etc.) or security (double-spending) as stimulus RTA Tx will be processed by GRAFT team only (Stimulus Tx is sent between GRAFT wallets)
  • There will be no security risk to supernode owners or to the entire network

Incentive Details

We’re currently targeting a 5% avg. per month ROI in RTA mining income based on the stimulus program we had announced earlier. Stimulus incentives will carry into the RTA Mainnet launch (tentatively April 2019) until the network is fully ramped up.
The calculation is based on 1,000 active Supernodes

Timing

We haven’t set an exact date for this release yet, but expect it to be within the next 3 weeks, pending release and testing of the supernode staking wallets security issue fix.



Get Ready for Supernode Staking

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Pay-in Exchange Broker Alpha

We’re excited to publish the first version of the Exchange Broker that we’ve been working on for a while in parallel to the RTA in an effort to provide a complete second layer eco-system.

https://github.com/graft-project/exchange-broker

This is the first version of the exchange broker which aims to facilitate a scenario where the merchant or merchant service provider perform the accept, exchange and payout functions. (Future versions of the broker and other components will become further decentralized and separate those functions among other participants in the network)

The broker can run on the RTA Alpha testnet and comes with a nice demo application emulating a POS/terminal accepting testnet BTC and ETH for payment.

Join the Exchange Broker Telegram channel for community-based support and idea exchange.