Image of article: Node Update: 30/03/2018

Node Update: 30/03/2018

Published on 30/03/2018

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Dear Lessors, this is a short update about our node Waves Lease and some interesting news about the WAVES Platform.

Node Situation

Since the last update we got some leases that brought up our stake to 137342 WAVES. You can see at any time our stake value directly on the home page, it is loaded from the blockchain in real time. In the first week of April we will purchase our monthly amount of WAVES to increase the node core stack.

We moved the tool Coin Converter in the home page and improved it a bit: we now load some additional information about the assets and we have filtered out the tokens that do have 0 volume traded against WAVES by using the market feed of marketdata.wavesplatform.com.

Next Release v1.0.2 of the website will have a dedicate page for each listed asset that are linked to a real project. This page will contain links to the website, twitter/facebook feeds (if applicable) and a trading view.

We remind you that the next payment (#4) will be in the 2nd week of April, we will inform you on the exact payment date at a later time. at the moment we have 2.4 WAVES and 400 MRT to distribute to our 51 lessors.

WAVES Interesting News

Smart Contracts

The dev team is working and is making real progress on the first release of Smart Contracts (non-turing complete). This will open the possibility for some interesting development (2FA, automated release of tokens ecc). Please check this video for further details. Thanks to Srdjan ViennaNode for uploading this video!

New transaction types

Two new transaction types has been introduced: mass transfer and digital transaction.

Mass Transfer Transaction

Mass Transaction allows to send a max of 100 payments with only one transaction, thus reducing costs and load on the network for batch operations such as Payments to Lessors or Token airdrops. For example, a node sending 100 payments for asset WAVES and MRT will generate, by using a Transfer Transaction, 200 transactions and a cost of 200 * 0.001 WAVES = 0.2 WAVES.

By using the new Mass Transfer Tx, the transaction numbers drop to 1 and the cost to 0.001 + 100 * 0.0005 = 0.051 WAVES. For more info you can consult the Waves Docs.

Digital Transaction

The Data transaction can be used in the following use cases:

  • Certify authorship of a document by publishing its hash on the blockchain;
  • Verify that a digital artwork is original;
  • Provide data for smart contracts to work on. E.g. if an oracle publishes some data oncein a while using a publicly known account, smart contracts can use that data in their logic.

For more info you can consult the Waves Docs.

Nodes and Leasing ROI

As you probably noticed, profit for the nodes, and thus for the lessors, are not profitable and the ROI (Return on Investment) is very low. Owner of nodes are complaining for long time to WAVES management, because running a node requires a commitment both in time and money. Additionally if leasing gives back a decent return, people will lease their waves more and thus the network will be stronger.

Recently seems that WAVES managements understood the problem and they did/planned some actions:

  • They are again rewarding nodes with MRTs for each block forged;
  • They are adjusting the POS algorithm so it will be fair and won't advantage big nodes vs small nodes;
  • They just presented an interesting proposal called (temporarily) Autonomous Fees that will allow to use WAVES asset for paying fees and at the same time reward in a sustainable way the nodes.

Generating balance

Do you want to contribute to decentralize Waves by helping our node to grow?

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