Release of the first Etica network upgrade, Etica v2 phase 1, 31st January 2024.
phase 1: 31st January 2024
phase 2: 7th February 2024
Viewed 333108 times and downloaded 47256 times since September 28, 2019
For reminder, every Etica network upgrade requires majority of nodes of the network to accept the upgrade by upgrading their nodes. There is no central entity that can enforce an upgrade on Etica network.
This will make ETI mining more stable by making difficulty adjsutments more frequent. ETI difficulty will update all 144 blocks instead of all 2016 blocks, this will update the ETI difficulty on a daily basis instead of every two weeks. ETI mining algorithm remains exactly the same as bitcoin but it will actualise its difficulty more frequently than BTC after this network upgrade. ETI block time will thus stay closer to its 10 minutes block time even in harsh hashrate volatility periods
This will reduce the number of spam proposals submited on the network. In fact the collateral required to submit new proposals will increase from 10 ETI to 100 ETI. The number of spam proposals has already decreased thanks to the decentralised network voting activity but this will add another layer of protection against spam proposals.
This will be the first Etica smart contract update. It will thus be the first validation of the unique Etica process to update the smart contract through hardforks described in this article: https://medium.com/@kevinwad.oss/etica-how-etica-smart-contract-upgrades-will-work-9b1e61035966
This will address a low-risk potential vulnerability that could temporarily pause ETI mining.
This is not confirmed yet. It would enable voters that didn't reveal their votes on top to use a recovery system to unlock their ETI providing much higher slash and fees to discourage people from using this system instead of revealing their votes.
This will slightly soften the advantage of large voters over smaller voters. It is a feature that was supposed to be in the first implementation of Etica smart contract but it required additional review before final implementation. It is not confirmed to be included in the v2 upgrade.