DEV update April 2018
Dear community,
Exciting times at the REBL office!
Although the last few months might not have been very ‘bullish’ for cryptocurrency, with lots of turbulent price action, things have been pretty exciting here at the REBL office. We made a lot of changes to the frontend of our website with the rebrand in March, but we have been working even harder on the backend behind the scenes.
As you all know, we have been busy with the development of our blockchain. We are pleased to share the news with you that the REBL blockchain has reached the testing phase. To give you a better insight into some of the variables we consider during the testing phase, we will go a little more in detail here.
REBL blockchain testnet
The past few weeks were spent researching and testing blockchain functionality, more specifically:
– We have been testing the server-side functionality
– Wallet functionality
In addition to this, we have been busy with network security and the long-term stability of our ecosystem.
In a decentralized network the consensus protocol, whether it be POW, POS or any other possibility, will incur some cost to incentivize participation. The REBL blockchain operates on a POS consensus mechanism. It must pay validators to economically participate in the consensus protocol. The two most logical options to pay for this cost are inflation and transaction fees.
From an investment perspective, inflation might be considered as a negative motive, and it might be if it is out of proportion when compared with other variables in the model.
Some variables to consider are supply inflation, block time, block reward, and reward distribution.
So what we are working on right now is an economic model that will offer the perfect balance.
Masternodes
A regular node is a staking wallet where users will be rewarded based on their connectivity age and the number of coins they hold. This means that in order to earn your stake, you will need to have your wallet connected. The wallet will sync with the blockchain and act as a node.
In early March we announced that we would implement masternodes into our blockchain. The masternodes within our blockchain will provide instant payments and allow for private transactions. For providing the services stated above, masternodes will share in the block reward. The REBL masternodes will also have an extra functionality though — not seen before in the crypto sphere. An official announcement of the masternode specifics will be released shortly.
Coming soon
Upcoin exchange trading
Upcoin is in the testing phase and it is expected to go live in the coming week. Keep an eye on our social media accounts for more updates on this.
Technical whitepaper
As soon as we have tested, optimized and finalized the REBL blockchain, we will release the technical whitepaper to provide more in-depth information. This will also include information about the following:
– Coin metrics
– Masternode specifications.
Potential clients
The REBL team has been in some interesting meetings with potential clients that have shown an interest in the REBL project. Discussing real-world use cases is what excites us and helps us thrive.
Token swap module
The Token swap will be a 1:1 swap of ERC20 tokens to our own native blockchain coins. A module is in development to make this a smooth and easy process. The token swap is planned for Q3 2018.
We are so proud of what we have accomplished with our community thus far. A special thanks to our community management team!
We will continue the hard work to deliver on our goals. While doing so we will be as transparent as can be. We are looking forward sharing more about our progress from now on!
That is all for this week’s update!