1 Overview of the development of Chives Blockchain
As a grassroots entrepreneurial project, since the first version was released, Chives Blockchain has achieved good development results, including 10519 miners, 375Pib of network space computing power, 161744 addresses, and a price of 0.01USDT. These indicators have reached 1% of Chia as a whole, and some indicators such as active addresses have reached 4.3% of Chia, which is very good and may benefit from Chives’ airdrop and NFT market release.
The following table is the details:
|Item||Network Space||Activity Address||MarketCap|
The development strategy of Chives Blockchain is mainly to follow the version update and upgrade of Chia, and then develop as many peripheral applications as possible. The main purpose is to provide users of Chives with the most convenient and comprehensive experience possible.
At the same time, these applications also take into account the users of Chia, and jointly develop and strengthen the ecological environment of the entire Chia. Only when Chia develops and grows, as a fork of Chia, Chives can have a better development space.
2 Origin of the Chives Blockchain master node
“Chives consists of a two-layer network. The first layer is a network of miners that provide users with funds to send and receive services to prevent double-spending. The second layer consists of master node that make up the network, providing unique performance support for the Chives network.
The master node system is also known as Proof of Service (PoSe) because the essence of master node is to provide critical services to the entire Chives network. The entire Chives network is overseen by master node. If a miner tries to own all block rewards or run an older version of the Chives software, the master node network will isolate the block and prevent it from being added to the blockchain. “
The concept of the Chives master node mainly comes from Dash Coin. In the traditional BITCOIN architecture system, mining does not need to run a full node, but only needs to run third-party mining software and access the corresponding POOL to mine. Because mining does not need to run full nodes, the number of full nodes in the entire blockchain network is very small, which affects the security and health of the entire blockchain network.
The solution given by Dash Coin is to add another layer of the master node network. Some incentives are given to users of this segment, requiring them to run full nodes to maintain the full node count of the network. The number of these master nodes must exceed the number of pools, so when the master node upgrades its software, it will inevitably form a de facto majority, thus forcing the other few nodes to also upgrade the software, so as to maintain the entire network on the latest version.
The difference between the Chives network and the Dash Coin network is that even if the miners of the Chives network join pool, they still need to run a full node locally to mine. Therefore, the number of full nodes in the Chives network will not be reduced because miners join a pool.
This significant difference makes it redundant to force the Chives master to run a full node in order to receive rewards. However, in order to make Chives more stable and healthy, the decision was based on the original idea, requiring each master node to run a full node to expand the decentralization of the Chives network.
3 Reward Mechanism of Chives Blockchain Master Node
The reward mechanism of the master node is the same as that of Dash Coin, and 45% of the block reward belongs to all master nodes.
But there is also a big difference between the two coins. The block generation time of Dash Coin is 10 minutes. Within 10 minutes, all nodes can complete the synchronization of the master node network transaction information, so that the distribution of the master node rewards can be processed in Coin base. The block generation time of Chives is about 18 seconds, which is too short to complete the synchronization of the master node network transaction information. It is precise because of this difference that the distribution of rewards for the master node on the Chives network has become extremely complex and difficult.
These difficulties are summarized as follows:
1 The distribution of rewards cannot be processed in Coin base, because the speed of block generation is too fast, and the changes in the status of all master nodes cannot be synchronized within 18 seconds, so there is no way to get an accurate reward list.
2 It takes a certain amount of time, such as 10 minutes, to allow all nodes to synchronize the changes of the master node information. In this case, there needs to be a cache pool to cache these rewards.
3 When the cache pool receives these rewards for accumulation, when the accumulation exceeds 3000XCC (32 blocks every 10 minutes, 45% of the reward for each block, a total of 2880XCC, about 3000XCC). It is necessary to start the sending mechanism and send these rewards to the reward addresses of all master nodes.
4 At the same time, the sending interval of the master node reward address is required to be at least 6 minutes.
5 When the network space grows too fast, the block production speed increases, and the reward balance increases to 3000XCC within 6 minutes, the master node reward will be sent within 6 minutes. If the block production speed is too slow, you need to wait until the accumulation of 3000XCC before sending rewards.
6 There will be a dedicated service to monitor the execution of this process.
4 Chives Blockchain Master Node Rewards Cache Pool
1 The cache pool will be a standard coin wallet, public the private key, public key and address.
2 All coins under this address can only be sent to yourself or the reward addresses in the master nodes, and cannot be sent to any other address. This will be checked and verified in the code to prevent malicious transfer operations.
3 The transfer process is a standard wallet transfer operation.
4 Force all input coins to be the address of this cache pool, all output can only be the reward address of all master nodes and the address of the cache pool itself, and other transfer addresses are not allowed to come out.
5 The amount of the sender must be 3000 XCC, and the amount of all receivers must be the same.
6 The reward amount of all master nodes’ reward addresses must be the same.
7 The reward addresses of all master nodes during the transfer process include at least the reward addresses of all master nodes before 10 blocks.
8 It is required to leave at least 1 XCC as the handling fee in order to increase the transaction priority.
9 When the rewards are distributed to the reward addresses of the master node, there is no restriction on the transaction size, so that it can support the super large transactions, such as 2000 remittance addresses, so as to complete the reward address of all master node at one time.
10 The above rules need to be checked for validity in the submission of the memory pool, block header, and block body.
11 How to transfer coins into the cache pool, the principle of this part is consistent with the existing 10% community reward mechanism.
5 Chives Blockchain master node registration and cancel
1 When you need to register the master node, you need to use a wallet and first build a coin with an amount of 100,000 XCC.
2 Use this 100,000 XCC COIN to mint an NFT, and at the same time write the rewarded address and the staking address into the NFT, and the NFT is in a valid state at this time.
3 When the master node is canceled, the staking XCC will be returned directly, and there is no need to make changes to this NFT.
4 When the service process filters the NFT list to obtain the staking address, the balance of the staking address will be judged in real-time, and it will be counted as a valid master node when it meets the staking requirements. If the balance is 0, but the height difference between the de- staking block and the existing block is less than 10, the package is allowed to enter the block.
5 The process of filtering the NFT list will be a separate service, which will be newly filtered every 10 minutes, and the data will be stored in the database for the front-end GUI to call. However, when building a transfer transaction, the latest staking data and reward address will be obtained in real-time.
6 Key points of Chives Blockchain master node
1 There is needed to deploy an additional AWS server with a public IP address.
2 The staking amount of the master node is 100,000 XCC.
3 45% of the rewards of all the master nodes will be transferred to the cache pool first, and then the cache pool will issue it to the master nodes.
4 The private key for the cache pool is public.
5 There will be a series of restrictions to prevent the XCC of the cache pool from being maliciously transferred.
6 The master nodes use NFT as the data storage layer and cache it in the database at the same time.
7 Expected Testnet release time: 2022-05.
8 Expected Mainnet release time: 2022-06