Giant CoreTeam got back to its regular processes, such as:
I'd like to here from you what kind of updates would you like to read in our anns. It could be detalization of various aspects outlined in our WPs, technical specifications, current tasks or more general overview.@everyone is welcome to share the opinion on <#439070879335317525>.
Also, I would like to have speaking sessions with active community members to discuss crypto in general and our plans. No matter how things may look from aside we take the project very seriously and hope to have a meaningful feedback from the community.
Details for the session will be provided later. In the meantime, you can come forward with your ideas on how to make it happen and which platform to use (zoom, discord voice chat, google hangouts etc.). As of now, I'd like to have it regularly, convenient for people from different timezones. It won't be recorded in order to get more engagement for each session. Nonetheless, short summeries by community memebers would be welcome.
The Giant coin was listed on Crex24!
You’ve been asking us for an extra exchange for months. My view is that we don’t need to force the major listing before releasing our tech. We think long-term and wish to prepare our case first. Nonetheless, having a reliable exchange that is popular among masternode investors is a good option. We’ve made necessary updates to GiantCore, and the timing was perfect.
Crex24 became the fastest growing exchange for MN coins and took over the Cryptopia market share.@everyone should keep in mind that Giant Discord server will be exposed to the new audience, so please be responsible and support the project image.
The transition went successfully, so we are ready to move on!
The withdrawals/deposits have been enabled on CB and Graviex.
@439079464031485993> resumes his work on smart contracts.
@504925562037338113> switched to the GEX back-end.
In the near future I'll break our current tasks down for you.
Plus we have some major news to come!@everyone Stay tuned!
⚙ We've collected your feedback on the bugs found in the 1.4.0 release.
Most of it was covered in the new 1.4.1 release.
The update is non-mandatory unless you've faced following problems:
✉ If problems remain, please re-submit the info to us:
👉 The new wallet is available by the link:
Props for helping us with one of the bugs go to @359799918677852160> and @394867407136489472>.
We are always open to pull requests from the Community
🛡@everyone Watch out for scammers! The team never contacts you first in regard of the wallet support
Read previous post to learn the details.
Linux, Win and MacOS wallets are available:
In 3 hours once we reach the 368200 block@everyone can start launching 5k masternodes and 20k supernodes.
At that moment technically they are the same masternodes. If you've updated your VPS, please do the following:
The bootstrap file will be added tomorrow
Linux wallet is available for@everyone via the link:
Win and Mac OS wallets are expected to be released tomorrow
Explorer is under maintainence
Deposits and withdrawals on exchanges will be activated once the transition is completed.
Thank you! Stay tuned
We've been working long enough on this release to ensure the network stability and to prepare the testnet for the future smart contracts testing. However, the collateral change and introduction of the 2-tier masternodes are the most important part of this release if you are a user. We did our best discussing it with@everyone and explaining the causes, so please learn the previous posts if you have some concerns.
After the block 368900 (Thursday) Giant masternodes require 5k GIC collateral. Supernodes act as masternodes and require 20k GIC. The rewards ratio is based on the collaterals ratio:
Masternodes - 1.6 GIC
Supernodes - 6.4 GIC
To prevent the network stuck we do it in 3 phases:
This is what you are going to do:
It clears the datadir foulder except the masternode.conf and wallet.dat files and downloads the new sofrware
Notice: It works only if you haven't changed the standard path. Otherwise, you have to update the script
Within the next 24 hours we release the new wallets.
Deadline for the update is set to around 10 PM GMT on Wednesday.
However, it won't be different from any previous mandatory update.
Deposits/withdrawals will be disabled until we finish the transition to 2-tiers masternodes.
Further details and instructions will be included in the release.
Hey@everyone! Let me share some recent news with you.
1⃣ The new collateral amounts will be equal to 5000 GIC and 20000 GIC for masternodes and supernodes respectively.
The launch guides will be provided with the new release.
To keep the network stable and running within the transiion period we'll do it in 2 stages:
At the moment we are finalizing works on the testnet to ensure that old and new types of masternodes won't conflict during the transition stage.
2⃣ We are concerned with the Crypt-Bridge changing their rules. If you've completed KYC and want to share your experience please do it on <#439070879335317525>.
In the meantime, we monitor the situation and look for other options. Please tell us if you think of a situable exchange for Giant coin on <#439070879335317525>
Our Blockchain Developers are back to work on the new wallet release. Besides the planned updates we’ve decided to address the collateral change issue.
Half year ago we mentioned that the smart contracts support will require increased resources of the server. Running a full node may not cover the expenses with the current collateral size. The initial plan was to wait till we can make estimations of the data size our smart contracts will be producing. Also, we tried to introduce the Governance mechanism first in order to let the community get around the issue.
However, there are two reasons why we changed our plan:
1⃣ The latest showed poll showed that more than 75% of the users own more than a single masternode. Those who are not using IPv6 are bearing significant costs. We can make it lower very easy. Basically, the collateral increase in x times will decrease the masternodes number in about x times, that will increase the average masternode daily reward in x times, so individual ROI will remain pretty much the same. But the hosting expenses will be x times lower for many users for sure.
2⃣ Including this change in the next update will save us from one additional mandatory update.
Also, our Blockchain developers noted a useful solution implemented by a few other masternode projects. I am talking about supernodes that can become a foundation for 1-tier nodes needed for deployment of smart contracts to the mainnet. 2-tier nodes aka regular masternodes remain available for the purposes of the tx validation and network security.
This may be changed later as a result of public discussion. Our goal is to make sure that this approach will prove to be robust and reliable.
Specific details will be provided shortly as the information about the terms of upcoming wallet release. In the meantime, we welcome@everyone to join the discussion, so I could elaborate on how the collateral change in Giant differs from those of dying masternode projects.
Dear Giant Community. I apologize for the lack of communication recently. It has two main reasons:
The project's future depends solely on the implementation of smart contracts. GEX Beta is ready and needs this as a main part of the back-end application. Also, marketing is frozen till we get the timeline for the release stages.
Giant is a self-funded project that was driven mainly by the core team members enthusiasm. There are a number of reasons why the initial plan was not met. Analysis was made and deserves another article. However, in July 2019 we reached a point when every core team member had to evaluate the abilities to continue contributing to the project from the financial point of view. I'd like to stress that quitting was not an option. We trust our vision and see a number of ways of how to improve the situation and to turn Giant into a profitable enterprise. That was rather a consensus on how to continue being effective as a team. Our current challenge requires us to be dedicated to Giant full-time. We decided that it's better to have a break to sort personal things out and get back to work rather than combining Giant and another job. However, we didn't lay Giant aside and use our time for our own advantage. The marketing department, and several community contributors, have been drafting and discussing initiatives and learning about new practices. The Devs were observing the space and followed a few projects whose open-source code could speed up the development of smart contracts.
I hesitated to make comments about it until I can be more certain in terms of the time frame. Rising concern in the community caused me to obtain more specifics from the team members. We have agreed to get back to active development in one month. We'll start with finalizing the new release.
Thank you for your attention. I am ready to answer@everyone' questions
We'd like to tell@everyone about the achievements of our friends from Gentarium.
✅ New website design
✅ Registration of a legal entity in Estonia
☑ Launch of a Cosmos vaidation node.
The platform doesn't limit itself by the MN market and expends its activities. It joins DPoS ecosystem of Cosmos blockchain. It's no secret that we have our concerns about the algorithm that has issues with decentralization. However, Gentarium as a service platform has to benefit from such opportunities and provide new tools to its users.
To become an active validator it needs to get to Top 100 nodes. Gentarium accepts delegated voting power via the following link:
In the meantime, we are finalizing the new release that activates the Governance mechanism. I continue preparing the updated concept of Giant. The goal is to tell about all the capabilities of our tech by using well-known use cases. If you are familiar with sidechain projects and those performing BTC atomic swaps please contact me in DM or <#439070879335317525>.
Let me refer to the recent collateral change discussion in the light of our updates. We wanted to share the info later once everything is ready but the upcoming Governance release forces us to act faster.
⚖ The next release will activate the Governance mechanism. It'll be a mandatory update. You'll be notified in advance and have about 1 week to update your GiantCore. After that@everyone will be able to submit any proposal including a collateral change. We cannot ignore it and share valuable information in this regard.
Smart Contracts Blockchain Node
As you probably know smart contracts code execution is quite memory consuming, so the masternodes hosting that you easily perform on VPS will become more costly. We wanted to run tests to make projections of the blockchain size growth in different scenarios before announcing it. Nonetheless, we have to make this important note for the discussion. For more precise calculations we'll launch the smart contracts testnet to determine recommended hosting requirements.
We are going to fix a very common problem that exists in other smart contracts platforms. I'd call it the free-rider problem. A smart contract creator has relatively small costs of deployment and free operation at the miners expense. We can change that by requiring an enabled masternode for smart contract deployment. In this case it will be some contribution to the entire network decentralization and protection from spam.
As you can see the collateral size is a quite sensitive issue. The expenses of different parties will rely on that. This size has to reflect our ambition to configure the network balance and distribute the costs adequately.
We'd like to share recent updates with@everyone
Only successful tests of governance separates us from the update that will include:
🤝 Vault, a shared masternode platform created by the public team from PAWS.fund, listed Giant Coin.
The team is concerned with bringing quality projects to the platform users and contacted the Giant CoreTeam shortly after the launch.
You can deposit any amount for masternode instant shares and reinvest to grow faster by compounding the interest on the following terms:
$1.99 per month in VAULT coin
$3.98 per month in GIC
The project is focused on transparency and user experience, so the public team's been very active in Discord and conducted a webinar for@everyone.@VAULT.Investments#1167 represents the platform
Thanks to@everyone who's completed the survey!
If you haven't please follow this link:
This data plus the Beta campaign results made it clear what kind of environment we want to create.
⚙ We've already tested a daily report format that provided you with comments about latest commits.
The format turned out to be time consuming and couldn't provide enough context and the bigger picture.
We've replaced it with a <#539669018790068236> channel that served well. However, the feedback showed high demand in the news and transparency.
We will make our internal management processes more open.
It includes 3 main areas:
Each area has a dedicated framework that has specific tasks presented on the Trello board.
Its current version cannot address actual processes, because many tasks go beyond Scrum-based 2 weeks sprints.
Therefore, it'll be completely upgraded.
As of now I can share with you the latest draft of the management framework.
It'll become a part of the Governance mechanism to strenghten the image of Giant as a decentralized project.
2 other frameworks will be finished up the next week. As a result, Giant will come to a daily report format based on that system.
✅ One of the management directions is transforming our media channels. The survey brought some interesting facts about it.
If you learned about the project from Discord or Twitter, please tell me in DM or in #general what servers/twitter accounts had the link that brought you to the Giant space.
The most important part of any management is data collection. Please take 5 mins to complete the survey.
If you are non-English speaker let us know if you need assistance. We really need@everyone
Only the common effort will allow the project to prosper. The technology itself is not enough.
⚙ The Beta campaign forced me to switch from my regular activities, such as smart contracts marketing, development updates and the community team.
After the release I took a break for 3 days to analyze the situation. Now I am back to start implementing the plan step-by-step.
✅ Although some people can be disappointed about the Beta release the CoreTeam has certainly achieved its goal and collected valuable feedback.
@439032526535917569> is already processing that and making changes to the design.
📢 Let me refer to the common concern of the decreased news frequency. There are 2 main reasons:
However, this is my responsibility to bring a model that serves the community.
Luckily, now we have active members who are familiar with the project and competent enough to help me out.
Once again, I don't want to shift the focus and to distract by minor events. Giant needs a fundamental change.
We say a lot about the technology, but let's not forget that in the open-source space this is nothing if there is no viable community.
Community and marketing materials have to relate to the technology level. The detailed Roadmap will be published ASAP
We need@everyone to make it happen. If you want the project to succeed and be a part of it please submit the form.
This week we'll start making short interviews. The previous Community Team channel will be closed.
To access the form and lear the Community Team concept please follow the link:
We are proud to announce that our initial plan to release GEX Beta is completed!
We had 8 meaningful sessions with beta testers who provided in-depth feedback to us.
You can read about it in details in the new article:
Giant Community experienced the first webinar, dedicated to GEX Beta Trading Interface. This is the beginning of more interactive forms of communication.
Finally, we make a public release of GEX Beta for@everyone!
The primary goal of the beta is to share the current status and vision of the platform, and to collect as much feedback as we can to improve it before the final release of the product.
Please, share your thoughts in <#584078527909986310> and submit the bugs using the form:
Now it’s time to process the feedback and take advantage of that Beta for our marketing purposes!
Yesterday we had our first webinar for the Giant Community, that was dedicated to the GEX Beta release.
Props to @395050662490144779> for encouraging me to have that session and co-hosting.
It was my first experience of that kind, so I was really excited and appreciate@everyone who joined.
We'll learn from our mistakes, improve the format and are planning to have more webinars in the future.
The webinar is available via the link:
Time codes are included.
We will process the feedback collected from the beta testing and potential improvements will be implemented by our Devs.
Only 2 sessions are left, so the summary will be published soon.
Don't miss the public release of GEX Beta on May 31st!