Announcing Verus v1.1.1-1 - MANDATORY UPGRADE FOR MAINNET AND TESTNET - REQUIRED UPGRADE FOR THE MAINNET ETHEREUM BRIDGE LAUNCH MAINNET USERS - ALL FULL NODE OPERATORS, NOTARIES AND POOLS - PLEASE UPGRADE AS SOON AS POSSIBLE TO HAVE THE NETWORK PREPARED FOR A SOLIDLY SUPPORTED BRIDGE DEPLOYMENT. THE COMMUNITY HAS AGREED ON AN UPDATE DEADLINE OF SATURDAY, SEPTEMBER 9TH, 17:00 UTC. WE ASK THAT EVERY NATIVE NODE OPERATOR UPGRADE AS SOON AS POSSIBLE. ALL PRIOR VERSIONS SHOULD BE CONSIDERED DEPRECATED. WE WILL LAUNCH THE VERUS-ETHEREUM BRIDGE ON MAINNET AS SOON AFTER THE UPGRADE DEADLINE AS POSSIBLE. TESTNET USERS - PLEASE UPGRADE IMMEDIATELY - THE TESTNET ETHEREUM BRIDGE WILL BE UPGRADED WITHIN THE NEXT DAY
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.1.1-1
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.1-1
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.1-1-testnet
What’s new: Verus v1.1.1-1 includes cross-chain improvements and fixes to enable mainnet Verus-Ethereum bridge deployment as well as final support for ERC1155 mapping. Cross chain functionality on mainnet is currently disabled, and will be reenabled, allowing for PBaaS chain launches along with the full set of all PBaaS and DeFi capabilities either at the mainnet target time above, or earlier, if our community believes we have a majority of nodes, validators, and notaries upgraded. Beyond those changes mentioned, v1.1.1-1 has no new features over and above v1.1.1. As said before, we all want the Verus<->Ethereum bridge live on mainnet ASAP. We will shoot for just after the deadline above to deploy to mainnet.
Topic: [ANN] Verus (VRSC) - zk-SNARK privacy, CPU-mining, 50/50 POW/POS, fair launch - page 4. (Read 49636 times)
September 04, 2023, 06:01:44 AM
August 31, 2023, 09:03:20 AM
Announcing Verus v1.1.1 - MANDATORY UPGRADE FOR MAINNET AND TESTNET - REQUIRED UPGRADE FOR THE MAINNET ETHEREUM BRIDGE LAUNCH MAINNET USERS AND ALL NOTARIES AND POOLS - UPDATE BY SUNDAY, SEPTEMBER 3RD, 17:00 UTC TO REMAIN RELIABLY CONNECTED TO VERUS MAINNET, TESTNET USERS, PLEASE UPGRADE IMMEDIATELY
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.1.1
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.1
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.1-testnet
Due to a great deal of preparation for the Ethereum bridge, as well as testing of extreme use of sub-ID namespaces along with cross-chain use cases, we discovered a potential cross-chain transaction that could be constructed and fail in a way that could block transaction flow for that cross-chain connection. In v1.1.1, Verus VIP will smoothly handle all discovered and known similar cases. What’s new: Verus v1.1.1 includes a new, cross-chain security enhancement that supports witness node monitoring and automatic, multi-chain revocation by a secondary, merge mining node that is started with a new parameter -autonotaryrevoke=notaryid@.
While we always recommend conscientious witness selection and deliberate best practices in revoke/recovery authorities and key management, Auto Notary Revoke provides a real time monitoring capability that can mitigate risks from network attacks that might even involve a majority of witness keys being compromised. We certainly recommend never enabling that to occur based on key management practices, but every level of defense against any threat model is a win for the network, especially when automatic if simply running nodes. v1.1.1 also includes support for mapping to existing ERC1155s with the Verus<->Ethereum bridge, along with its current ERC20 and ERC721 support. Since ERC1155s can serve as either “metadata-enhanced ERC20s”, like Verus currencies, or super-NFTs, like Verus IDs and currencies, Ethereum ERC1155s can now be mapped as either normal Verus currencies or Verus Tokenized ID control tokens. The distinction is important, both in definition fees (ID control tokens are less expensive than currencies to define), and since the definition enables mapping as either one type or the other, mapping as a normal token currency makes sense for ERC1155s that have more than 1 unit of supply, and otherwise, we recommend mapping to ID control tokens for the additional power over the ID.
All of us want the Verus<->Ethereum bridge live on mainnet as soon as is possible, and though this update means we will shoot for just after the deadline above to deploy the Verus<->Ethereum bridge to mainnet, v1.1.1 enables us to do so with the confidence of having truly prepared for the permissionless, sustainable connection we are about to unleash! In addition, this release fixes the following issues: A fix to API revokeidentity, which was failing to revoke properly - no protocol change Rare segfault when mining or staking due to tx rate limiting and a network race condition
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.1.1
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.1
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.1-testnet
Due to a great deal of preparation for the Ethereum bridge, as well as testing of extreme use of sub-ID namespaces along with cross-chain use cases, we discovered a potential cross-chain transaction that could be constructed and fail in a way that could block transaction flow for that cross-chain connection. In v1.1.1, Verus VIP will smoothly handle all discovered and known similar cases. What’s new: Verus v1.1.1 includes a new, cross-chain security enhancement that supports witness node monitoring and automatic, multi-chain revocation by a secondary, merge mining node that is started with a new parameter -autonotaryrevoke=notaryid@.
While we always recommend conscientious witness selection and deliberate best practices in revoke/recovery authorities and key management, Auto Notary Revoke provides a real time monitoring capability that can mitigate risks from network attacks that might even involve a majority of witness keys being compromised. We certainly recommend never enabling that to occur based on key management practices, but every level of defense against any threat model is a win for the network, especially when automatic if simply running nodes. v1.1.1 also includes support for mapping to existing ERC1155s with the Verus<->Ethereum bridge, along with its current ERC20 and ERC721 support. Since ERC1155s can serve as either “metadata-enhanced ERC20s”, like Verus currencies, or super-NFTs, like Verus IDs and currencies, Ethereum ERC1155s can now be mapped as either normal Verus currencies or Verus Tokenized ID control tokens. The distinction is important, both in definition fees (ID control tokens are less expensive than currencies to define), and since the definition enables mapping as either one type or the other, mapping as a normal token currency makes sense for ERC1155s that have more than 1 unit of supply, and otherwise, we recommend mapping to ID control tokens for the additional power over the ID.
All of us want the Verus<->Ethereum bridge live on mainnet as soon as is possible, and though this update means we will shoot for just after the deadline above to deploy the Verus<->Ethereum bridge to mainnet, v1.1.1 enables us to do so with the confidence of having truly prepared for the permissionless, sustainable connection we are about to unleash! In addition, this release fixes the following issues: A fix to API revokeidentity, which was failing to revoke properly - no protocol change Rare segfault when mining or staking due to tx rate limiting and a network race condition
August 11, 2023, 04:44:44 PM
Announcing Verus v1.1 - MANDATORY UPGRADE FOR MAINNET AND TESTNET - REQUIRED UPGRADE TO ENABLE THE MAINNET ETHEREUM BRIDGE LAUNCH MAINNET USERS AND ALL NOTARIES AND POOLS MUST UPDATE BY WEDNESDAY, AUGUST 16TH, 17:00 UTC TO REMAIN RELIABLY CONNECTED TO VERUS MAINNET, TESTNET USERS, PLEASE UPGRADE IMMEDIATELY
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.1.0
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.0
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.0-testnet
Congratulations everyone! As of now, v1.0.* has been looking great on testnet and mainnet. Based on our learning and in-depth bridge analysis, we are making a few small changes, before taking PBaaS to the next level on mainnet. We have been working on final code reviews, testing, and adding minor improvements to the Ethereum bridge contracts and daemon interface for weeks now, and after one more round of live testing on the public testnet, we’d consider their status ready for mainnet deployment.
All that remains is for us all to upgrade to version 1.1, upgrade testnet to the new contracts, finish the final tests, and if all goes as planned, deploy the Ethereum bridge on mainnet. Because no one has yet launched a PBaaS chain from mainnet, we have also added a couple improvements to PBaaS launches that are active in v1.1.
For that reason, v1.1 is mandatory for launching mainnet PBaaS chains as well. What’s new: v1.1 does not add new features, but it does have minor protocol changes, specifically for improving the Ethereum bridge and PBaaS launches.
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.1.0
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.0
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.1.0-testnet
Congratulations everyone! As of now, v1.0.* has been looking great on testnet and mainnet. Based on our learning and in-depth bridge analysis, we are making a few small changes, before taking PBaaS to the next level on mainnet. We have been working on final code reviews, testing, and adding minor improvements to the Ethereum bridge contracts and daemon interface for weeks now, and after one more round of live testing on the public testnet, we’d consider their status ready for mainnet deployment.
All that remains is for us all to upgrade to version 1.1, upgrade testnet to the new contracts, finish the final tests, and if all goes as planned, deploy the Ethereum bridge on mainnet. Because no one has yet launched a PBaaS chain from mainnet, we have also added a couple improvements to PBaaS launches that are active in v1.1.
For that reason, v1.1 is mandatory for launching mainnet PBaaS chains as well. What’s new: v1.1 does not add new features, but it does have minor protocol changes, specifically for improving the Ethereum bridge and PBaaS launches.
July 24, 2023, 07:43:42 PM
Verus Protocol lead developer Mike Toutonghi explains the differences between Verus smart transactions and smart contracts:
https://medium.com/veruscoin/verus-smart-transactions-vs-smart-contracts-f98079c00ed0
https://medium.com/veruscoin/verus-smart-transactions-vs-smart-contracts-f98079c00ed0
July 20, 2023, 05:50:33 PM
Announcing v1.0.12-6 - CRITICAL, SOFT-FORK UPGRADE FOR MAINNET AND TESTNET - PLEASE SUPPORT THIS CHANGE BY UPGRADING BEFORE TUE JUL 25 2023 17:00:00 UTC
TESTNET USERS, PLEASE UPGRADE IMMEDIATELY
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-6
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-6
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-6-testnet
This release addresses an issue with authorities on IDs exported/imported between chains. As a result of the issue that this version resolves, a self-sovereign ID can be permanently impacted in a manner that cannot be undone by the permanent owner, when sent cross-chain by a temporary signer under certain conditions.
There are no PBaaS chains on Verus mainnet yet, and this fix warrants a mandatory release to ensure that when people start launching PBaaS chains, as it is critical that a cross-chain ID export should not have any capability to infringe on anyone’s self-sovereign ownership of their ID.
This release also includes a fix for a segfault condition that can occur during a reorganization that reorganizes a recent cross-chain notarization.
What’s new:
v1.0.12-6 does not add new features, but it is critical for miners, stakers, exchanges, notaries and infrastructure providers.
TESTNET USERS, PLEASE UPGRADE IMMEDIATELY
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-6
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-6
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-6-testnet
This release addresses an issue with authorities on IDs exported/imported between chains. As a result of the issue that this version resolves, a self-sovereign ID can be permanently impacted in a manner that cannot be undone by the permanent owner, when sent cross-chain by a temporary signer under certain conditions.
There are no PBaaS chains on Verus mainnet yet, and this fix warrants a mandatory release to ensure that when people start launching PBaaS chains, as it is critical that a cross-chain ID export should not have any capability to infringe on anyone’s self-sovereign ownership of their ID.
This release also includes a fix for a segfault condition that can occur during a reorganization that reorganizes a recent cross-chain notarization.
What’s new:
v1.0.12-6 does not add new features, but it is critical for miners, stakers, exchanges, notaries and infrastructure providers.
July 14, 2023, 01:13:41 AM
Announcing v1.0.12-5 - CRITICAL UPGRADE FOR MAINNET - MANDATORY FOR CONTINUED TESTNET USE & HIGHLY RECOMMENDED FOR EVERYONE MAINNET DEADLINE: UPGRADE TO v1.0.12-2 OR LATER FOR MAINNET BEFORE MONDAY, JULY 17TH, 17:00 UTC, WHICH IS WHEN THE ORACLE NOTIFICATION WILL BE REMOVED AND ALL DEFI AND CROSS-CHAIN WILL BE RE-ENABLED ON MAINNET. WE INTEND TO LAUNCH THE ETH BRIDGE AS SOON AFTER THAT AS POSSIBLE. TESTNET UPGRADE DEADLINE: PLEASE UPGRADE AS SOON AS POSSIBLE
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-5
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-5
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-5-testnet
We have moved the prior activation target out to ensure that we give the KMD notaries and the majority of miners and stakers time to upgrade before activation and also because we want to make sure that core community members are available to monitor when PBaaS reactivates and all goes live. While this upgrade is labeled critical and not mandatory, we believe everyone would be better off upgrading as soon as possible. What’s new: v1.0.12-5 does not add new features, but this version does include currency supply limits and overflow protection in areas where it was previously possible to exceed with currency definitions. In this version, we have implemented the following limits, which have been selected for the following reasons:
1) 10 billion (-1 SATOSHI) with 8 decimal places (9999999999.99999999) is now the recommended absolute limit for all currency supplies, including over time with conversions and extended tail emissions for blockchains. If you need to use currencies from Ethereum with extremely large supplies, you can map one ERC20 to multiple currencies that can add up to any size supply. You could also aggregate them into an arbitrage basket that would be maintained in balance for profit as it earned fees and could accommodate much larger aggregate supplies. If you absolutely need to support larger currency supplies in your applications and can’t use baskets or move the decimal place to extend your accounting, we can discuss options, all of which we believe come with some compatibility risk. For interoperability across all of crypto and FIAT systems, avoidance of network/JSON communication problems or replumbing (which may be worth doing over time), while still being able to accomodate extremely large supplies via aggregation or by using fewer decimal points, we believe this is the best available option, and these limits provide a solid mathematical security buffer. To understand why 10 billion specifically, most libraries for Bitcoin derived blockchains, including Komodo, Zcash, Verus, and others that are used for parsing and dealing with JSON currency values in APIs or commands will reject parsing single currency values greater than or equal to 10 billion in any context. Exceeding supply limits may make your currency issue unwanted conversion refunds, be unable to be exported across chains, or fail to interoperate properly with some apps over time.
2) This release includes significant work to ensure that boundary conditions are well handled by the network, but be advised – If you exceed these stated limits in your transactions or currency definitions, helping you to resolve any issues you might encounter may not be an urgent priority for project contributors or the growing global network of node operators participating in consensus.
v1.0.12-5 is critical for miners, stakers, exchanges, notaries or infrastructure providers and enforces currency limits that will prevent risk of overflow when PBaaS reactivates on mainnet.
Please upgrade as soon as you are able. We hope to get some rest soon and allow everyone to have a break from new versions.
Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-5
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-5
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-5-testnet
We have moved the prior activation target out to ensure that we give the KMD notaries and the majority of miners and stakers time to upgrade before activation and also because we want to make sure that core community members are available to monitor when PBaaS reactivates and all goes live. While this upgrade is labeled critical and not mandatory, we believe everyone would be better off upgrading as soon as possible. What’s new: v1.0.12-5 does not add new features, but this version does include currency supply limits and overflow protection in areas where it was previously possible to exceed with currency definitions. In this version, we have implemented the following limits, which have been selected for the following reasons:
1) 10 billion (-1 SATOSHI) with 8 decimal places (9999999999.99999999) is now the recommended absolute limit for all currency supplies, including over time with conversions and extended tail emissions for blockchains. If you need to use currencies from Ethereum with extremely large supplies, you can map one ERC20 to multiple currencies that can add up to any size supply. You could also aggregate them into an arbitrage basket that would be maintained in balance for profit as it earned fees and could accommodate much larger aggregate supplies. If you absolutely need to support larger currency supplies in your applications and can’t use baskets or move the decimal place to extend your accounting, we can discuss options, all of which we believe come with some compatibility risk. For interoperability across all of crypto and FIAT systems, avoidance of network/JSON communication problems or replumbing (which may be worth doing over time), while still being able to accomodate extremely large supplies via aggregation or by using fewer decimal points, we believe this is the best available option, and these limits provide a solid mathematical security buffer. To understand why 10 billion specifically, most libraries for Bitcoin derived blockchains, including Komodo, Zcash, Verus, and others that are used for parsing and dealing with JSON currency values in APIs or commands will reject parsing single currency values greater than or equal to 10 billion in any context. Exceeding supply limits may make your currency issue unwanted conversion refunds, be unable to be exported across chains, or fail to interoperate properly with some apps over time.
2) This release includes significant work to ensure that boundary conditions are well handled by the network, but be advised – If you exceed these stated limits in your transactions or currency definitions, helping you to resolve any issues you might encounter may not be an urgent priority for project contributors or the growing global network of node operators participating in consensus.
v1.0.12-5 is critical for miners, stakers, exchanges, notaries or infrastructure providers and enforces currency limits that will prevent risk of overflow when PBaaS reactivates on mainnet.
Please upgrade as soon as you are able. We hope to get some rest soon and allow everyone to have a break from new versions.
Thanks!
July 11, 2023, 01:37:39 AM
Announcing v1.0.12-4 - CRITICAL UPGRADE FOR MAINNET - MANDATORY FOR CONTINUED TESTNET USE MAINNET DEADLINE: UPGRADE TO v1.0.12-2 OR LATER FOR MAINNET BEFORE WEDNESDAY, JULY 12TH, 17:00 UTC, WHICH IS WHEN THE ORACLE NOTIFICATION WILL BE REMOVED AND ALL DEFI AND CROSS-CHAIN WILL BE ENABLED ON MAINNET AGAIN. WE INTEND TO LAUNCH THE ETH BRIDGE AS SOON AFTER THAT AS POSSIBLE. TESTNET UPGRADE DEADLINE: PLEASE UPGRADE AS SOON AS POSSIBLE
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-4
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-4
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-4-testnet
What’s new: v1.0.12-4 does not add any new features, and the prior version will follow the chain after DeFi reactivation on mainnet, but this version is critical for miners, stakers, exchanges, notaries or infrastructure providers and fixes the following issues: CLI & GUI:
* Fix for a seg fault that may occur on some nodes if a blockchain reorganizes while mining. If this occurs while mining, it could require a resync or bootstrap to continue
* Fix for a suspected potential stall that may (unconfirmed) stop a node that is not mining from continuing to sync under the same conditions
* Fix for API funding of transactions
* Fix for failure to update identity when revocation authority is locked
* Fix for the potential that some attempts to create blocks will fail when merge mining a PBaaS chain
GUI:
* Fix incorrect txid labeling in lite mode on ElectrumX
* Bridgekeeper mining fix
* Fixes KMD interest calculation in transaction sends
* Fixes BTC fee calculation when sending transactions
All miners, stakers, exchanges, and infrastructure providers, we recommend that you upgrade to v1.0.12-4 or later as soon as you are able. Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-4
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-4
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-4-testnet
What’s new: v1.0.12-4 does not add any new features, and the prior version will follow the chain after DeFi reactivation on mainnet, but this version is critical for miners, stakers, exchanges, notaries or infrastructure providers and fixes the following issues: CLI & GUI:
* Fix for a seg fault that may occur on some nodes if a blockchain reorganizes while mining. If this occurs while mining, it could require a resync or bootstrap to continue
* Fix for a suspected potential stall that may (unconfirmed) stop a node that is not mining from continuing to sync under the same conditions
* Fix for API funding of transactions
* Fix for failure to update identity when revocation authority is locked
* Fix for the potential that some attempts to create blocks will fail when merge mining a PBaaS chain
GUI:
* Fix incorrect txid labeling in lite mode on ElectrumX
* Bridgekeeper mining fix
* Fixes KMD interest calculation in transaction sends
* Fixes BTC fee calculation when sending transactions
All miners, stakers, exchanges, and infrastructure providers, we recommend that you upgrade to v1.0.12-4 or later as soon as you are able. Thanks!
July 09, 2023, 09:07:46 AM
"Just wanted to share. Due to google play policy, VerusMiner got suspended from the playstore and will not be available anymore for download. For the meantime, current and future releases can still be downloaded from the official GitHub repo.
I'll try to find an alternative app stores( like apk pure or taptap) if needed. For now, official releases will be on GitHub.
https://github.com/pangz-lab/verus_miner-release
In addition, although VerusBox is still available from playstore, mining feature will be totally removed in the next release to avoid the same fate. Other features will still be available."
I'll try to find an alternative app stores( like apk pure or taptap) if needed. For now, official releases will be on GitHub.
https://github.com/pangz-lab/verus_miner-release
In addition, although VerusBox is still available from playstore, mining feature will be totally removed in the next release to avoid the same fate. Other features will still be available."
July 09, 2023, 09:05:02 AM
Announcing v1.0.12-2 - MANDATORY UPGRADE TO REACTIVATE DEFI AND CROSS-CHAIN FUNCTIONS ON MAINNET - MANDATORY FOR CONTINUED TESTNET USE
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-2
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-2
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-2-testnet
MAINNET DEADLINE: UPGRADE TO v1.0.12-2 FOR MAINNET BEFORE WEDNESDAY, JULY 12TH, 17:00 UTC, WHICH IS WHEN THE ORACLE NOTIFICATION WILL BE REMOVED AND ALL DEFI AND CROSS-CHAIN WILL BE ENABLED ON MAINNET AGAIN. WE INTEND TO LAUNCH THE ETH BRIDGE AS SOON AFTER THAT AS POSSIBLE.
TESTNET UPGRADE DEADLINE: 7:00AM UTC, JULY 8TH
What’s new:
v1.0.12-2 does not add any new features, although it does include improvements in node banning and cross-chain import validation for some ETH bridge operations. We expect to activate the Goerli ETH bridge on testnet shortly after the testnet update above. If all proves out, we should soon be able to do the same for mainnet.
All Verus Desktop or CLI users, please upgrade as soon as possible. Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-2
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-2
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-2-testnet
MAINNET DEADLINE: UPGRADE TO v1.0.12-2 FOR MAINNET BEFORE WEDNESDAY, JULY 12TH, 17:00 UTC, WHICH IS WHEN THE ORACLE NOTIFICATION WILL BE REMOVED AND ALL DEFI AND CROSS-CHAIN WILL BE ENABLED ON MAINNET AGAIN. WE INTEND TO LAUNCH THE ETH BRIDGE AS SOON AFTER THAT AS POSSIBLE.
TESTNET UPGRADE DEADLINE: 7:00AM UTC, JULY 8TH
What’s new:
v1.0.12-2 does not add any new features, although it does include improvements in node banning and cross-chain import validation for some ETH bridge operations. We expect to activate the Goerli ETH bridge on testnet shortly after the testnet update above. If all proves out, we should soon be able to do the same for mainnet.
All Verus Desktop or CLI users, please upgrade as soon as possible. Thanks!
July 01, 2023, 08:51:01 PM
Announcing v1.0.12-1 - CURRENTLY HIGHLY RECOMMENDED FOR MAINNET UPGRADE FOR REACTIVATION OF DEFI AND CROSS-CHAIN FUNCTIONS ON MAINNET - MANDATORY FOR CONTINUED TESTNET USE v1.0.12-1 IS EXPECTED TO BE LABELED MANDATORY IN ~2 DAYS AFTER VERIFICATION OF PBAAS CROSS-CHAIN ON PUBLIC TESTNET WE CAN DECIDE THE FULL MAINNET ACTIVATION DATE OF DEFI AND PBAAS IN TOMORROW’S COMMUNITY MEETING
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-1
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-1
TESTNET SPECIFIC
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-1-testnet
What’s new: Although we were correct on the original method of resolving the first banning issue we saw in an earlier version, the fix was not complete. We have focused on this issue and ensured that the network operates smoothly while merge mining and cross-chain notarizing without spurious or falsely justified banning behavior. Testnet users, please upgrade as soon as possible. Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12-1
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-1
TESTNET SPECIFIC
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-1-testnet
What’s new: Although we were correct on the original method of resolving the first banning issue we saw in an earlier version, the fix was not complete. We have focused on this issue and ensured that the network operates smoothly while merge mining and cross-chain notarizing without spurious or falsely justified banning behavior. Testnet users, please upgrade as soon as possible. Thanks!
July 01, 2023, 08:47:46 PM
wow thats nice!
try looking here and also joining the discord server
https://wiki.verus.io/#!index.md
try looking here and also joining the discord server
https://wiki.verus.io/#!index.md
June 30, 2023, 05:07:25 AM
I have many machines! Do I want to mine on my own nodes? Do you have a detailed tutorial?
June 28, 2023, 04:21:35 AM
Announcing v1.0.12 - MANDATORY UPGRADE FOR REACTIVATION OF DEFI AND CROSS-CHAIN FUNCTIONS ON MAINNET AND CONTINUED TESTNET USE UPGRADE TO v1.0.12 BEFORE MAINNET UPGRADE ACTIVATION AT BLOCK 2606532, EXPECTED JULY 3rd, ON OR AROUND Mon 03 Jul 2023 05:00:00 PM UTC. FOR TESTNET, UPGRADE TO v1.0.12 BEFORE TESTNET UPGRADE ACTIVATION AT VRSCTEST BLOCK 94451, EXPECTED ON OR AROUND Wed 28 Jun 2023 11:00:00 PM UTC.
What’s new for testnet and mainnet: This version fixes all known protocol issues with PBaaS and DeFi, including DeFi and Verus Intersystem Protocol. We hope that v1.0.12 will be the last mandatory release of PBaaS 1.0.x. That said, we need your help to put it through all its paces on testnet in the time we all have to upgrade for mainnet. Testnet users, please upgrade as soon as possible. Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-testnet
What’s new for testnet and mainnet: This version fixes all known protocol issues with PBaaS and DeFi, including DeFi and Verus Intersystem Protocol. We hope that v1.0.12 will be the last mandatory release of PBaaS 1.0.x. That said, we need your help to put it through all its paces on testnet in the time we all have to upgrade for mainnet. Testnet users, please upgrade as soon as possible. Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.12
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.12-testnet
June 28, 2023, 03:17:08 AM
VerusMiner update has been released. 📣📣📣 Version : 3.4.1 What's new?
✅ Improved speed test feature
◽️added retry button for failed connection test
✅ Added temperature control setting
✅ Added charge control setting
✅ Fixed setting compatibility(from version 3.3.0)
✅ Improved speed test feature
◽️added retry button for failed connection test
✅ Added temperature control setting
✅ Added charge control setting
✅ Fixed setting compatibility(from version 3.3.0)
June 25, 2023, 04:52:23 AM
Announcing v1.0.11 - NON-MANDATORY UPGRADE FOR MAINNET MANDATORY FOR CONTINUED TESTNET USE
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.11
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.11
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.11-testnet
Version 1.0.11 is a candidate for the final, mandatory release, and is being released now both for public testing and also to enable the KMD notaries to have an upgrade version before DeFi re-enablement that is likely to also be the final mandatory version for full PBaaS and ETH bridge support on mainnet. We will announce if this version is ready for that re-enablement as soon as we’ve finished tests on the public testnet. In any case, we do highly recommend v1.0.11, and it has a high chance of being our final PBaaS version. Testnet users, please upgrade as soon as possible. Thanks!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.11
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.11
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.11-testnet
Version 1.0.11 is a candidate for the final, mandatory release, and is being released now both for public testing and also to enable the KMD notaries to have an upgrade version before DeFi re-enablement that is likely to also be the final mandatory version for full PBaaS and ETH bridge support on mainnet. We will announce if this version is ready for that re-enablement as soon as we’ve finished tests on the public testnet. In any case, we do highly recommend v1.0.11, and it has a high chance of being our final PBaaS version. Testnet users, please upgrade as soon as possible. Thanks!
June 17, 2023, 04:23:54 AM
Announcing v1.0.10 - MANDATORY UPGRADE FOR MAINNET AND TESTNET MAINNET UPGRADE REQUIRED BY TUESDAY, JUNE 20TH, 17:00 UTC TESTNET UPGRADE REQUIRED BY SUNDAY JUNE 18TH, 01:00 UTC (SATURDAY IN MANY LOCATIONS)
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.10
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.10
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.10-testnet
In addition to everything in v1.0.9, v1.0.10 includes a change which after activation, will upgrade the data for fractional currencies to cleanup data remnants that do not affect conversions, prices, fees, reserves, or supply, but are exceptions to a form of doubly redundant accounting on chain that we will restore in alignment across all currencies. To do that, we’ve reinstated the DeFi oracle, so although normal non-PBaaS functions continue to operate fine on mainnet, DeFi will once again be disabled until the time above to ensure an easy and smooth network transition that allows more complete consensus on the network when the change happens. It also enables us to deal with known currency states that have been tested for the transition, vs. unknown currencies launching and in various states of launch and import/export. We have also instated the DeFi oracle on testnet and will remove it at the activation time above, providing a final dry run of the same process that will occur on mainnet at the indicated time.
What’s New Fixes: This version fixes all known issues with DeFi and cross-chain, as well as fixes the API command “estimateconversion”, which provides the ability to specify a liquidity basket conversion and get an estimate on its result that takes into account all pending transactions and solves in the same simultaneous way as it will be done on chain when calculating the estimate. It is still an estimate, but it also takes potential slippage into account and the most likely actual price you should receive in many common scenarios. As I said before, we all want full DeFi, multichain and the ETH bridge live and operational on mainnet. Thanks everyone for upgrading quickly and for all the support you’ve shown as we have gotten to v1.0.10. I especially appreciate the support of those who have been only helpful and many who even jumped on the last release before we knew it would be replaced. You still know what to do!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.10
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.10
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.10-testnet
In addition to everything in v1.0.9, v1.0.10 includes a change which after activation, will upgrade the data for fractional currencies to cleanup data remnants that do not affect conversions, prices, fees, reserves, or supply, but are exceptions to a form of doubly redundant accounting on chain that we will restore in alignment across all currencies. To do that, we’ve reinstated the DeFi oracle, so although normal non-PBaaS functions continue to operate fine on mainnet, DeFi will once again be disabled until the time above to ensure an easy and smooth network transition that allows more complete consensus on the network when the change happens. It also enables us to deal with known currency states that have been tested for the transition, vs. unknown currencies launching and in various states of launch and import/export. We have also instated the DeFi oracle on testnet and will remove it at the activation time above, providing a final dry run of the same process that will occur on mainnet at the indicated time.
What’s New Fixes: This version fixes all known issues with DeFi and cross-chain, as well as fixes the API command “estimateconversion”, which provides the ability to specify a liquidity basket conversion and get an estimate on its result that takes into account all pending transactions and solves in the same simultaneous way as it will be done on chain when calculating the estimate. It is still an estimate, but it also takes potential slippage into account and the most likely actual price you should receive in many common scenarios. As I said before, we all want full DeFi, multichain and the ETH bridge live and operational on mainnet. Thanks everyone for upgrading quickly and for all the support you’ve shown as we have gotten to v1.0.10. I especially appreciate the support of those who have been only helpful and many who even jumped on the last release before we knew it would be replaced. You still know what to do!
June 11, 2023, 12:18:20 AM
VerusMiner update has been released. 📣📣📣
Version : 3.3.0
✅ Added speed test feature
◽️mining pool connection speed can now be tested
◽️this is an experimental feature so some issues can be expected
✅ Mining improvements
◽️miner binary update with hashing optimization
✅ Minor UI improvements
◽️app and miner version is added at the main mining screen
✅ Bug fix
◽️pool drop-down default value is set correctly when scanning a setting
Version : 3.3.0
✅ Added speed test feature
◽️mining pool connection speed can now be tested
◽️this is an experimental feature so some issues can be expected
✅ Mining improvements
◽️miner binary update with hashing optimization
✅ Minor UI improvements
◽️app and miner version is added at the main mining screen
✅ Bug fix
◽️pool drop-down default value is set correctly when scanning a setting
June 09, 2023, 08:29:17 PM
Announcing v1.0.8 - MANDATORY UPGRADE FOR MAINNET AND TESTNET MAINNET UPGRADE
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.8
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.8
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.8-testnet
REQUIRED BY BLOCK 2578653, EXPECTED THIS COMING TUESDAY, 17:00 UTC TESTNET UPGRADE REQUIRED BY TESTNET BLOCK 69013, EXPECTED THIS SATURDAY, 17:00 UTC
Once we pass the blocks above, we will remove the DeFi oracle notification, and all PBaaS and DeFi functions, including currency and chain launches, will reactivate on mainnet with full function and some new capabilities described below. To ensure a smooth transition on testnet and a resulting testnet with only refunded or launched currencies, none in between, and no extra work to make that true, we have also pushed a testnet DeFi oracle notification that will be removed Saturday morning.
What’s New Fixes: Two related issues around the time of the whales launch made it clear that we were not handling the maximum limits of currency launches properly and were allowing people to exceed those limits in their pre-launch participation, even though these features had been working in basic testing that did not push edge conditions. While it’s related to the fact that there are pre-launch and post-launch phases of a currency launch that may even happen on different chains, the way these limits were handled in the pre-1.0.8 protocol made it very difficult/impossible to cleanly handle all edge cases we were throwing at it, especially once we added the complexity of co-launching a bridge currency and PBaaS chain, and the pre-launch and post-launch being resolved on different chains. To ensure we have all of that covered, @Asher and @englal really stepped up with heroic levels of contribution to testing, release prep, and confirming every possible edge case we could construct, enabling us to have confidence that the new way of handling everything is complete, robust, and has as close to 100% test coverage on all launch cases as is reasonably possible. Of course, we will be happy to have lots of testing after the activation on testnet and lots of use on mainnet.
New feature: Pre-1.0.8, in addition to an unlimited number of multi-currency liquidity basket configurations, you could also launch decentralized or centralized tokens, crowdfunding style, and even allow people to pre-convert to native PBaaS currencies. For non-liquidity tokens, converted funds for tokens are sent to the ID of the token or chain, meaning that these types of tokens are well suited for complex payment resolution or can be used for non-financial things like forms of voting or tracking as well.
Prior to v1.0.8, the only currency that could be used for pre-launch in tokens of this kind was either Verus or the native currency of the PBaaS chain launching such a currency. In 1.0.8, up to 9 additional currencies can be used along with the native currency, each having its own minimum and maximum participation levels, whether the launch is on-chain or launching a chain. That means that you could launch a token or blockchain with independent conversion rates and currency options set for conversion from Verus, Ethereum, DAI, a branded currency, project currency, or any other currency available on the launching chain. For example, if a project that has a token, like an ERC20 wanted to migrate their entire network to an independent, fully functional PBaaS blockchain, they could enable holders of that token to use the protocol to participate in a 1:1 or 10:1 pre-launch for the native currency of the new blockchain. While every launch does need to accept the native currency of the blockchain launching it, min and max limits are supported on all currencies in the launch, enabling an unlimited number of new launch possibilities. After going through testing scenario upon testing scenario and every permutation we could come up with to throw at it, I’m convinced that this new capability is a powerful tool to round out our already quite complete protocol for the Internet of Value.
We’re a community project building fully in the open, and while it would have been great to skip having these issues altogether, I am grateful and truly impressed with the pulling together over the past week as some of us have been putting all we’ve got into this release, and the protocol and project move forward better and stronger as a result. I feel very good about v1.0.8 and the network’s state in general, both testnet and mainnet. Thank you all for helping us get here, now let’s all upgrade, remove the DeFi oracle, and get some mainnet projects truly underway!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.8
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.8
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.8-testnet
REQUIRED BY BLOCK 2578653, EXPECTED THIS COMING TUESDAY, 17:00 UTC TESTNET UPGRADE REQUIRED BY TESTNET BLOCK 69013, EXPECTED THIS SATURDAY, 17:00 UTC
Once we pass the blocks above, we will remove the DeFi oracle notification, and all PBaaS and DeFi functions, including currency and chain launches, will reactivate on mainnet with full function and some new capabilities described below. To ensure a smooth transition on testnet and a resulting testnet with only refunded or launched currencies, none in between, and no extra work to make that true, we have also pushed a testnet DeFi oracle notification that will be removed Saturday morning.
What’s New Fixes: Two related issues around the time of the whales launch made it clear that we were not handling the maximum limits of currency launches properly and were allowing people to exceed those limits in their pre-launch participation, even though these features had been working in basic testing that did not push edge conditions. While it’s related to the fact that there are pre-launch and post-launch phases of a currency launch that may even happen on different chains, the way these limits were handled in the pre-1.0.8 protocol made it very difficult/impossible to cleanly handle all edge cases we were throwing at it, especially once we added the complexity of co-launching a bridge currency and PBaaS chain, and the pre-launch and post-launch being resolved on different chains. To ensure we have all of that covered, @Asher and @englal really stepped up with heroic levels of contribution to testing, release prep, and confirming every possible edge case we could construct, enabling us to have confidence that the new way of handling everything is complete, robust, and has as close to 100% test coverage on all launch cases as is reasonably possible. Of course, we will be happy to have lots of testing after the activation on testnet and lots of use on mainnet.
New feature: Pre-1.0.8, in addition to an unlimited number of multi-currency liquidity basket configurations, you could also launch decentralized or centralized tokens, crowdfunding style, and even allow people to pre-convert to native PBaaS currencies. For non-liquidity tokens, converted funds for tokens are sent to the ID of the token or chain, meaning that these types of tokens are well suited for complex payment resolution or can be used for non-financial things like forms of voting or tracking as well.
Prior to v1.0.8, the only currency that could be used for pre-launch in tokens of this kind was either Verus or the native currency of the PBaaS chain launching such a currency. In 1.0.8, up to 9 additional currencies can be used along with the native currency, each having its own minimum and maximum participation levels, whether the launch is on-chain or launching a chain. That means that you could launch a token or blockchain with independent conversion rates and currency options set for conversion from Verus, Ethereum, DAI, a branded currency, project currency, or any other currency available on the launching chain. For example, if a project that has a token, like an ERC20 wanted to migrate their entire network to an independent, fully functional PBaaS blockchain, they could enable holders of that token to use the protocol to participate in a 1:1 or 10:1 pre-launch for the native currency of the new blockchain. While every launch does need to accept the native currency of the blockchain launching it, min and max limits are supported on all currencies in the launch, enabling an unlimited number of new launch possibilities. After going through testing scenario upon testing scenario and every permutation we could come up with to throw at it, I’m convinced that this new capability is a powerful tool to round out our already quite complete protocol for the Internet of Value.
We’re a community project building fully in the open, and while it would have been great to skip having these issues altogether, I am grateful and truly impressed with the pulling together over the past week as some of us have been putting all we’ve got into this release, and the protocol and project move forward better and stronger as a result. I feel very good about v1.0.8 and the network’s state in general, both testnet and mainnet. Thank you all for helping us get here, now let’s all upgrade, remove the DeFi oracle, and get some mainnet projects truly underway!
May 31, 2023, 01:30:58 AM
Announcing v1.0.7 - UPGRADE HIGHLY RECOMMENDED FOR MAINNET, MANDATORY FOR CONTINUED TESTNET USE ALL PBAAS AND DEFI FUNCTIONS HAVE NOW RESUMED ON MAINNET. PLEASE MAKE SURE YOU ARE RUNNING v1.0.6 OR LATER AT THIS TIME TESTNET USERS SHOULD UPGRADE ASAP, AS USUAL. THERE WILL BE A FORKING CHANGE ON TESTNET THAT WILL ACTIVATE TO RE-ENABLE ZERO EMISSION PBAAS CHAIN CHALLENGES TOMORROW, AFTER 19:00 UTC
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.7
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.7
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.7-testnet
This release marks the completion and full resolution of the investigations that led to the PBaaS and DeFi pauses. As mentioned, all LP fees from exiting a DeFi basket’s primary currency will now be properly burned into those currencies before conversion operations take place. Shortly before this announcement, all oracle notarizations that were suppressing DeFi, currency sub-ID registrations, and PBaaS chain launches were lifted from the network. That means all PBaaS functions are now live and fully operational! Please note: Though the last mandatory upgrade was v1.0.6, and this is not technically a mandatory upgrade, it does address the known and understood issue only affecting zero reward PBaaS chains that can create issues with cross-chain challenges.
Until everyone is known to be on v1.0.7 or later, and we announce that such PBaaS configurations are well supported on the network, we recommend that no one launch a PBaaS chain that has zero block reward emissions. If you choose to do so anyhow, your chain should properly launch, but for about the next month, you may have issues with cross-chain function, unless you understand and plan appropriately. If launching a chain with zero emissions is important to you, and you seriously can’t wait, please discuss with someone in development or support to understand your options. We don’t believe that this is a critical early use case, so we actually don’t expect it to be an issue for anyone. Our next step is the testnet rollout of the Ethereum bridge, and after a few days of that proving out in final testing and review, we will deploy it on mainnet as soon as we believe it is ready for permanent use. Once the Ethereum bridge is live on mainnet, if we do ever need a contract upgrade, we will announce and coordinate with network validators, as each Ethereum contract upgrade will be independently subject to Verus miner and staker approval. Thanks everyone for upgrading as soon as you are able!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.7
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.7
TESTNET SPECIFIC
GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.7-testnet
This release marks the completion and full resolution of the investigations that led to the PBaaS and DeFi pauses. As mentioned, all LP fees from exiting a DeFi basket’s primary currency will now be properly burned into those currencies before conversion operations take place. Shortly before this announcement, all oracle notarizations that were suppressing DeFi, currency sub-ID registrations, and PBaaS chain launches were lifted from the network. That means all PBaaS functions are now live and fully operational! Please note: Though the last mandatory upgrade was v1.0.6, and this is not technically a mandatory upgrade, it does address the known and understood issue only affecting zero reward PBaaS chains that can create issues with cross-chain challenges.
Until everyone is known to be on v1.0.7 or later, and we announce that such PBaaS configurations are well supported on the network, we recommend that no one launch a PBaaS chain that has zero block reward emissions. If you choose to do so anyhow, your chain should properly launch, but for about the next month, you may have issues with cross-chain function, unless you understand and plan appropriately. If launching a chain with zero emissions is important to you, and you seriously can’t wait, please discuss with someone in development or support to understand your options. We don’t believe that this is a critical early use case, so we actually don’t expect it to be an issue for anyone. Our next step is the testnet rollout of the Ethereum bridge, and after a few days of that proving out in final testing and review, we will deploy it on mainnet as soon as we believe it is ready for permanent use. Once the Ethereum bridge is live on mainnet, if we do ever need a contract upgrade, we will announce and coordinate with network validators, as each Ethereum contract upgrade will be independently subject to Verus miner and staker approval. Thanks everyone for upgrading as soon as you are able!
May 28, 2023, 11:30:01 PM
Announcing v1.0.6 - MANDATORY MAINNET UPGRADE WITH COMMUNITY AGREED DEADLINE ON TUESDAY, MAY 30th, 19:00 UTC
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.6
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.6
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.6-testnet
As everyone using the network can see, someone launched a currency on the chain called RaceCondition, which is a 5% algorithmically controlled fractional reserve of Verus. While these currencies are tools, and there may be good reasons for 5% components or even 5% currencies in some applications, this was a VERY low reserve (launched with 10 VRSC in reserves), high supply currency (100 million supply), and as volatile as the protocol allows at 5%, meaning as people convert to it, it will go up quickly and as they convert away from it, it will also go down very quickly. The extreme nature of the currency made a behavior look slightly different than what I would have expected, which is that when someone converted into the currency, which was obviously extremely centralized on one individual, that individual then converted all of the currency they held to VRSC, capturing the highest price they could get and leaving the currency with far fewer reserves as a result of the large majority of the supply converting away from a highly volatile, 5% currency. All of that was expected.
The thing that made me take notice is that after all had happened, there seemed to be more reserve than I’d expect in the currency still, and that turned out to be because only in the case of a conversion from fractional to a reserve, not in reserve to reserve conversion or any other case, the portion of the fractional currency that should have been burned into the basket was not being burned, and those fees were not being captured. Interestingly, it resulted in a buffer for the person who entered RaceCondition for 5 VRSC and subsequently had 4 of them taken on the exit from one person of 100,000,000 of the supply. It turns out that the lack of the fee burn was the totality of the issue we found, and though it may not seem that serious, all of these calculations are consensus. They are there to create incentive for positive network contribution, and we take any error that we find in them, fees or otherwise, quite seriously. The fix means that all fees, including the fractional fees on an exit from a liquidity basket are now burned before conversions take place, which in this case, where the final price was just 14 SATs due to the extreme difference between reserves and supply numbers, would enable the person who exited with 100MM RaceCondition to take 15 VRSC, as the correct fee allocation actually results in a 15 SAT price, which means the person who remains holding the RaceCondition bag would have only some 100s of thousands of SATs for the supply they hold. The lesson here is to pay attention to the total reserve ratio, what coins are in a basket, and see that there is enough liquidity of reserves for a basket to make sense. Of course baskets could be memes, but they have real function. Make sure you take a look into how a basket works and that you have a reason before putting your hard mined, staked, won, or purchased Verus in. We will need the network to mostly upgrade to version 1.0.6 before we can re-enable DeFi and cross-chain functions, enabling deployment of the ETH bridge launch, PBaaS launches, and on-chain conversions to continue. We see that someone is launching a currency called “whales”, which looks like a currency that will enable registering IDs with 3 levels of referrals in a currency that simply collects registration fees, which likely get more expensive over time. The startblock for whales is 2561900, which should happen somewhere around 6:00 UTC on Thursday. That means that if we can upgrade and activate by Tuesday before the meeting, that person would still have time for pre-launch participation by those who would like. Thanks everyone for upgrading as soon as you are able!
MAINNET DEFAULT RELEASES
CLI release: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.0.6
GUI release: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.6
TESTNET SPECIFIC GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.0.6-testnet
As everyone using the network can see, someone launched a currency on the chain called RaceCondition, which is a 5% algorithmically controlled fractional reserve of Verus. While these currencies are tools, and there may be good reasons for 5% components or even 5% currencies in some applications, this was a VERY low reserve (launched with 10 VRSC in reserves), high supply currency (100 million supply), and as volatile as the protocol allows at 5%, meaning as people convert to it, it will go up quickly and as they convert away from it, it will also go down very quickly. The extreme nature of the currency made a behavior look slightly different than what I would have expected, which is that when someone converted into the currency, which was obviously extremely centralized on one individual, that individual then converted all of the currency they held to VRSC, capturing the highest price they could get and leaving the currency with far fewer reserves as a result of the large majority of the supply converting away from a highly volatile, 5% currency. All of that was expected.
The thing that made me take notice is that after all had happened, there seemed to be more reserve than I’d expect in the currency still, and that turned out to be because only in the case of a conversion from fractional to a reserve, not in reserve to reserve conversion or any other case, the portion of the fractional currency that should have been burned into the basket was not being burned, and those fees were not being captured. Interestingly, it resulted in a buffer for the person who entered RaceCondition for 5 VRSC and subsequently had 4 of them taken on the exit from one person of 100,000,000 of the supply. It turns out that the lack of the fee burn was the totality of the issue we found, and though it may not seem that serious, all of these calculations are consensus. They are there to create incentive for positive network contribution, and we take any error that we find in them, fees or otherwise, quite seriously. The fix means that all fees, including the fractional fees on an exit from a liquidity basket are now burned before conversions take place, which in this case, where the final price was just 14 SATs due to the extreme difference between reserves and supply numbers, would enable the person who exited with 100MM RaceCondition to take 15 VRSC, as the correct fee allocation actually results in a 15 SAT price, which means the person who remains holding the RaceCondition bag would have only some 100s of thousands of SATs for the supply they hold. The lesson here is to pay attention to the total reserve ratio, what coins are in a basket, and see that there is enough liquidity of reserves for a basket to make sense. Of course baskets could be memes, but they have real function. Make sure you take a look into how a basket works and that you have a reason before putting your hard mined, staked, won, or purchased Verus in. We will need the network to mostly upgrade to version 1.0.6 before we can re-enable DeFi and cross-chain functions, enabling deployment of the ETH bridge launch, PBaaS launches, and on-chain conversions to continue. We see that someone is launching a currency called “whales”, which looks like a currency that will enable registering IDs with 3 levels of referrals in a currency that simply collects registration fees, which likely get more expensive over time. The startblock for whales is 2561900, which should happen somewhere around 6:00 UTC on Thursday. That means that if we can upgrade and activate by Tuesday before the meeting, that person would still have time for pre-launch participation by those who would like. Thanks everyone for upgrading as soon as you are able!
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