Weekly Update: W/C 20th March, 2023

Good evening @everyone 👋

Last week we submitted a new proposal seeking agreement for the implementation of a small transaction fee into the XE Blockchain. The transaction fee is designed to help mitigate the potential for high frequency transactional attacks, with some additional benefits by the way of increasing deflationary pressure on XE.

You can find the proposal here:

https://governance.edge.network/proposal/cee266bdbcd9b9c7371e40638f7db4a8cd939110cc668a3b808645c3d27bba11

And you can discuss it here:

https://discord.com/channels/371989135172567051/1086431445620371468

We’ve had 34 votes already, with 100% in favour of the proposal. If you haven’t already voted, please do, your voice matters. There’s been good feedback so far and there will be an adjustment to the proposal ahead of implementation to place a cap on fees.

The team are extremely proud of open governance, and look forward to hearing from you on this and further proposals.

Following on from the passing of Proposal 7f518bd, development of the proposed lottery system has been taking place this week. Some of you may have noticed the test transactions on testnet (https://test.network/). Development work is almost complete, and is expected to conclude on Monday, with the service being rolled out to mainnet. We will then open source the edge/lottery repository.

The first draw will be on the 14th April 2023 🔥

The winners will be selected based on the proximity of their transaction hashes to all zeroes. That means the more days your nodes are earning, the more “entries” you will have into the lottery. Only one transaction per wallet will be considered, so there will be at least 11 distinct winning wallets per month.

Additionally this week, there have been a number of mainnet releases:

Index v2.5.3 was deployed to mainnet, and introduced an option to extract raw values from the supply endpoints, as required by third party integrations (CMC, CG, etc.).

Add ?raw=true to the end of the API endpoints discussed last week to see this.

Index v2.6.2 and Explorer v1.25.1 were deployed to mainnet, introducing revenue and coin value stats and charts to the Overview page of the explorer.

Pretty sweet:

Explorer v1.25.2 followed, making some minor UI adjustments to the revenue and coin value charts.

Finally, Account v1.14.8 and Account API v1.11.1 were deployed to mainnet, improving how account service suspensions are performed.

Over the course of the week while the lottery service has been in development, the team have also been monitoring changes to the testnet. Last week we deployed some updates and increased the number of testnet hosts up to over 100, and can happily report that the changes introduced are stable, ensure high availability during (induced) adverse network conditions, and have had a positive impact.

Next week we will finalise these changes and hopefully deploy them to mainnet. Following this we’ll enter phase 2 of the multi-Stargate upgrade. We’ll begin with testnet, which we expect to take 1-2 weeks, and then move onto mainnet, which again we expect to take 1-2 weeks to complete.

We’ll keep you apprised of course.

Joseph wrote an article on how Edge can help to accelerate and deliver the metaverse, written for a researcher looking into edge platforms in relation to this technology, and published on site. You can read it here:

https://ed.ge/knowledge/metaverse

We have had a handful of new articles for the docs site submitted via the Write for Edge programme. These are under review and should be published next week.

It’s worth noting that there tend to be a handful of updates to the Community Wiki every week. We don’t flag these as releases, but the wiki is continually evolving and growing.

Now as you may have noticed, we’ve begun increasing social media posting with your help. The 📰│social-media channel on Discord has been super active, and Twitter (among others) has been awash with activity. This has clearly had an impact so let’s keep it going. There are rewards available for those who help spread the word so keep on tweeting, spreading the word, and sharing the project!

The team continues to support several projects that are building on top of Edge, and will provide further updates as and when we can.

The updates requested to the tokenomics at CoinMarketCap and CoinGecko remain in progress with those companies. We’re hoping to see these complete next week.

And that’s all for now!

Enjoy your weekend 🍻!