01coin Project Update - March 7, 2020
Table of Contents
The zocteam executive recently got together for a conference call to discuss plans and timelines for various development goals. As a result, we have a clear vision of the road ahead. Although the purpose of this Project Update is not to recap that conference call -- a lot of the details from it are included here.
Before we get into development news, a few notes related to the 01coin Community...
For Valentine's Day, Graviex hosted a picture contest. The challenge was to create a Valentine's Day picture using crypto logos from coins trading on Graviex, with a prize pool of 1 ETH:
🥳Happy to announce the start of #Graviex St.Valentine's picture contest. Post your St.Valentines pictures with crypto logos here with tags: @graviex_net and #GraviexValentinesDay2020 Prize pool is 1 #ETH to be shared among 4 winners! Find all contest terms in your mail boxes. pic.twitter.com/j5yF1sciWK- GRAVIEX (@graviex_net) February 10, 2020
- Naturally, we were excited for the 01coin Community to get involved in this competition, so the zocteam decided to sweeten the pot by offering a bonus 1000 ZOC to anyone creating a 01coin-themed Valentine's Day picture. This resulted in two very nice submissions, as you can see below. Congratulations to the 01coin Community!
<3 01coin Community
A wee spot of exchange news, too. As you may already know, trading has resumed on AmsterEx with a limited number of markets. No word yet on when the ZOC market will be reenabled and when funds from old accounts will be returned. The zocteam will continue to monitor this situation as it evolves.
Due to operating cost considerations, several coins have been delisted over the past few months from dice-age.com, however 01coin is still rolling strong. So if you wanna try your luck with a roll of the dice, head on over there and put up a wager. Minimum bet is 0.0001 ZOC and the maximum bet is 10 ZOC. Bet 10 ZOC with a 0.95% win chance and who knows -- you might just walk away with a brand new masternode!
Also, if you don't want to play the game, you can bet with the house instead. If you invest in the dice-age bankroll, you will receive a percentage of the house winnings! The house, by the way, has a 5% odds advantage, so you do the math. 😉
Wallet and Core Development
Now we get into the meaty stuff. As mentioned off the top, the zocteam held a conference call last week. You can review the full Meeting Minutes from that call here.
Long story short, 01coin has outgrown its current codebase for a number of reasons. As a result, we are going to update our core incrementally towards the latest Dash version (currently v0.15).
Along the way, 01coin will finally release a wallet version containing our long-awaited governance voting system (accompanied by a release-version of our Whitepaper, which can be found in draft form on our Trello).
One of the issues we have to deal with is that modern Dash masternodes function very differently than they did on the v0.12 codebase from which 01coin is forked. As a result, the two generations of masternodes are incompatible with each other. Dash overcame this by releasing the v0.13 "Evolution" wallet version, which supported both different kinds of masternodes before proceeding to later wallet revisions which only supported the modern masternodes. 01coin plans to take a similar tack, as follows:
Step 1: Release new wallet version based on Dash v0.13 that supports both masternode types
Step 2: Market the new wallet until a suitable adoption rate has been achieved
Step 3: Fire a spork through the 01coin network to permanently disable all old masternodes
Step 4: Release a new wallet version based on whatever the most recent Dash version is at that time that includes 01coin's revolutionary new custom governance system, making 01coin "the most community-centric project in all of crypto"
Step 5: …
Step 6: Profit!
In proceeding incrementally as outlined, 01coin will avoid the need for a hard fork, thus ensuring all service providers and partners will remain onside.
We anticipate Step 1 of the above plan will occur before the end of the current month and that Step 4 will be completed before the Fall of this year -- so these are not long-term development goals.
To this end, a new version of the 01coin Project Roadmap will be published within the next week or two.
It should be noted that there is no intent to change the fundamentals of 01coin in any way throughout this process; that will be a decision left up to the community once the governance voting system has been enabled.
Ancillary Services Development
01coin's ancillary services depend quite heavily on 01VPS.net. As described in further detail below, 01VPS.net had not been performing up to expectations, and as a result services like the official 01coin blockchain explorer and our Discord bot had not been functioning properly.
We are happy to report that functionality of these services has been restored and development of them is poised to continue.
01coin did lose one of its third-party explorer options since our last update, though, as the explorer formerly hosted at https://altexplorer.co/coin/zoc has been closed. For users who liked the functionality and layout of that explorer, we are happy to say that the same development team is responsible for our explorer at https://openchains.info/coin/01coin, so please feel free to use that one instead going forward.
OpenChains is a free bring-your-own-node block explorer
Knock on wood. But we think we have finally resolved the performance issues that have plagued 01VPS.net for the past little while.
Long story short (again), disk IO performance was terrible, but all the synthetic benchmarks suggested it was working as expected. After weeks of hypotheses and tests and failure after failure, we finally discovered that our kernel-level cache solution (bcache) had some sort of infinite loop problem with our OS-level RAID disks.
We addressed this by eschewing software entirely and enabling the required functionality at the filesystem level using ZFS.
Real-world performance now appears to be more in-line with expectations, all while using standard kernels in a KVM environment, featuring end-user-configurable swap space among other advantages.
The next stages for development of 01VPS.net will be to create a new "masternodeready" version of Ubuntu like we used to have, and -- of course -- to fix all the coin recipes that have been broken since the transition to KVM first took place (and re-enable the coin-voting system for 1-click masternode installations).
No timeline has been established yet for these tasks, though. Stay tuned for the upcoming revised Project Roadmap for information on that.
There's probably more to say, but this is already getting to be a little on the long side, so we'll just cap it off there. If you have any questions or feel like there's something we should have mentioned here that we did not, please don't hesitate to reach out to us on any of our social networks: