We are continuing our series of posts going into greater detail about the different parts of the CryptBit platform and how they fit together. Previous posts dealt with 2FA and CryptBase.com. In this post we'll take a look the the upcoming POS3 and masternodes, both structure and function.
Masternode and Protocol V3As we have previously noted, we have started already to implement the the protocol V3 from Blackcoin. This process is a methodical one: we move over sections of code and beta test each commit. We proceed by adding commits until the complete codebase is ready.
Our current workflow has the full protocol V3 ready by end of October. We have a branch at Github where anyone can watch our progress or even test the source.
https://github.com/cryptbit/cryptbit/tree/protocolV3 Don't test it with actual coins yet as we still at beta stage. However, that much said, so far everything works well and we are pleased with the progress that is being made.
When all commits are tested and implemented for protocol V3, we will start with the V1 branch for the CryptBit's Masternode TX Guard, which will add an additonal optional protection layer for outgoing transactions. This is the first of several important functions the masternodes will carry out for Cryptbit. Development-wise, the whole concept of masternodes is currently a very wide-open and exciting area. There is so much tech, and so many interesting network implementations and ideas, that this will be a very fertile area for us in the coming months. We are confident in our the design of our masternode network and the underlying codebase, and we will be looking to add new features as they come along - especially features that strengthen the various functions of CryptBase.com. The ultimate beneficiary of all this development, of course, is the end user. It is particularly gratifying to being doing work with this sort of beneficial outcome.
With the end of the ICO distribution and node setup have begun in earnest. Masternodes are designed to be a key part of CryptBit, providing us with a strong network that will underpin everything we do. We encourage everyone who has qualified for masternode status to go ahead and set up their node(s). It only takes a few minutes and is quite easy to do. If you have not used the video guide & info already posted, here it is again:
https://www.youtube.com/watch?v=i44W6Z_5oP8