Image of article: Payment #8 Completed

Payment #8 Completed

Published on 09/06/2018

Dear Lessors, has just sent Payment #8. In this payment period the node mined 14 blocks and distributed a total of 248,84 MRT (Mine Rewards), 5.81209987 WAVES (0.415149990714 WAVES per block) with a total cost for the node of 8,6 WGO.

Proof of payment: #9 will be sent on 23rd June.

We are a small node and pay regularly, you can check this on our blog, please lease to our node to improve WAVES network decentralization. 

New strategy for new dividends

As you probably know, we are currently offering a 99% return to our lessors. Other nodes are offering a return that goes from 85% to 100%.

We think that offering a return greater than 90% is not sustainable for a succesfull business: we have some running costs to keep the node up and we are dedicating some time for node maintenance and upgrades.

By giving out all profits to lessors won’t keep us here for long, and we want to stay and support the WAVES network, therefore we will introduce these changes from the next payment (#9):

Node Core Stack periodical Increment

Node Private Stack has been increased by 35 WAVES on 8th June (10% of revenue from our web apps and by some private stack) and has been increased to 1275 WAVES.

Proof TX:

Small Leases

We noticed that node is receiving very small leases (0.01 WAVES). This makes the node lose money in fees just for sending very small dividends.  We will study a solution for solving this problem.

Waves Platform Changes that benefits smaller nodes

Some important changes in the Waves Platform are incoming and some of them will increase the smaller nodes profit: MRT new distribution Policy, Data Transactions, Fair LPOS and new MRT Distribution policy, Sponsored Transactions.

MRT Buyback and new Distribution Policy

The Waves team introduced some nice changes for the token MRT:

TLDR: This new policy puts an upper cap to MRT distribution for big nodes and adds liquidity for token. Buyback should increase the token value.

Data Transactions

Data Transactions allow anyone post information to the blockchain. The maximum size of a data transaction is around 140kb. Fees for data transactions, calculated in WAVES, are proportional to transaction size: 100,000 per kilobyte, rounded up to the nearest kb. Since the transaction size is limited to 140kb, it will cost just 0.14 WAVES (less that $1). You can find out more about Data Transactions here.

TLDR: There is a new transaction type for storing data on the blockchain that will increase node profits.

Fair PoS

This is an update to the current PoS system that removes some of the disadvantages for smaller miners. Whilst PoS should allow anyone to receive mining rewards in proportion to their WAVES balance, in practice the odds are stacked in favour of larger miners, who create a higher share of blocks. The protocol has been adjusted to reflect this and ensure that smaller miners are not pushed out.

TLDR: PoS system has been changed and rebalanced so smaller nodes will receive more WAVES Fees.

Sponsored transactions

An important update to the protocol is Sponsored Transactions. Sponsored transactions replace asset fees which allowed users to pay nodes directly with custom tokens. After activating the Sponsored transactions the issuer of the token will make deposit in WAVES, and this deposit will be used for paying for the nodes service.

TLDR: With sponsored transactions, nodes will receive only WAVES for fees. It will still be possible to use tokens released from nodes for paying transactions if the token creator will sponsor them