All discussion about launch is to be posted on this thread.
25.7. faetos answering a question of “when will trading start?” on Bitcointalk:
in a few weeks - launch team is finishing up work then Cryptopia will give us the date of launch.
26.7. faetos answering questions about the state of the project on Bitcointalk:
yes, final touches are being put in place. Really, it’s all done. Only major pieces are some peer review and replacing the SeeSaw masternode payment mechanism. Minor stuff that should be completed in a day or two.
30.7. faetos talking about the coding progress and the near future of the project on Slack:
I’m done with my commits to code. Just waiting on the SeeSaw replacement from the launch team. Once that is sent over we’ll review it and then start the dance with Cryptopia. That’s what I know. If I am off please feel free to correct me. We’ll release a launch wallet and then ban all those before so we have a clean start.
We’re waiting on 2 guys on the launch team to deliver code on replacing the SeeSaw rewards system for the Masternodes - that could be today or another week. I don’t know. I’m not in control of those guys and can’t push them to deliver anything.
After that they’ll call Cryptopoia (maybe they’ve already done it) and then we start the 1-2 week PoW to PoS conversion. Once it goes PoS we will launch.
The core team has lots of meetings and back channel stuff I am not a part of. That’s all the info I have.
Best case scenario - 1-2 weeks and launch. Worst case probably a month. I’m guessing, too, but want to make sure you all have what I know. This forum is super slick. Great job on it.
I reached out and asked them when they are going to deliver the code.
Information about the Helium project is too scattered so I tried to gather everything about the Helium client and the blockchain in to this one simple list. Please correct me if something is wrong or needs work. Thank you.
Consensus Algorithm: Proof of Stake (PoS)
Initial Coin Supply: 8 891 432 HLM
(Spreadcoin ledger was recorded in October 2017. Existing balances exceeding 10 SPR are minted as Helium in the HLM ledger’s genesis block and distributed to these already existing user addresses.)
Total Coin Supply: Infinite supply (Reward decreases by 0.5 annually until it reaches a tail emission of 2)
Premine: 611 822 HLM
(Alleged exchange owned balance was credited to the HLM treasury. Some of this balance will be used to pay the outstanding debt owed to various parties for Helium development work. Remainder is planned to sustain development until the network is self sufficient and the budget system can take over.)
Transaction Confirmation Time: Approx. 6 minutes (6 blocks) for regular transactions and practically instant for SwiftX transactions.
Transactions Fee Structure: All transaction fees are destroyed/burned on every block.
Transaction Fee: Minimal (zero-fee transactions may take a long time or get dropped. SwiftX transaction fee 0.01 HLM) needs correction and/or reference
Masternode Collateral: 1000 HLM
Block Target: 1440 blocks per day (60 seconds between blocks.)
Block Reward: 5 HLM initially and dwindling down (smooth halving, see emission rates.)
Block Reward Breakdown: 50% stakers and 50% masternodes
Other / Technical Mumbo Jumbo
Hashing Algorithm: Quark
Difficulty: Retargeting on every block
Stake Maturity: 16 blocks
Masternode Maturity: 16 blocks
Min stake age: 101 blocks
Service node info: Scrapped or TBA
Thanks speady - can I commit this to the github README.md at the appropriate time?
Everything is free to use, go ahead!
A note on the treasury part:
The treasury has a lot of outstanding ‘debt’ already. Ranging from faetos’ server costs to repaying the people that lend money to the network to get development done and other people owed money for development work.
This is being kept track of and accounted for but obviously these refunds will not be put up to a vote.
Also for the remainder of the treasury funds: the idea is to use this money to kick start, maintain and subsidize development of the network in the first year(s) until it is self sufficient and the budget (superblocks) can take over.
So the treasury fund belongs to the community. All things done with it will be done in consensus with the community. Every dime will be accounted for but it will not be subject to the masternode voting. Until, of course, everyone thinks otherwise.
Thank you teela,
I have made corrections to the list.