After months of development, testing, and program debugging, as well as Beosin’s security audit of the Mainnet code, the YOYOW Foundation decided to upgrade the YOYOW Mainnet node program to version 2.1 on April 30, 2020 at 08:00 (GMT +8). Exchanges, block producers, content platforms, and third-party developers need to update the Mainnet node program before 08:00 (GMT +8) on April 30, 2020.
The YOYOW Foundation team will continue to follow the long-standing line and lead community supporters to jointly build a secure, equal, and free blockchain content community network, and realize a healthy ecosystem where common development of content producers, content platforms, and block producers can be achieved.
The updated version 2.1 of the YOYOW Mainnet has completed many new features and improvements, mainly in the following areas:
1. Change the rules for generating points,can only obtain points by locking tokens
Users can choose the number of lockable tokens to generate points, and points can only be generated through locked tokens. If the locking is cancelled, it will take 7 days for the locked tokens to be returned to the user account.
2. Add Token circulation feature
YOYOW DEX-used for the circulation between YOYOW Mainnet tokens. Limit orders are initiated by buyers and sellers of assets and matched with each other through underlying YOYOW system matching. The successful match is executed immediately, and the failed match is temporarily stored on the chain, waiting for other limit orders to match.
3. Add natively supported block producer Staking feature
The users can choose to lock the tokens and stake them to the POS block producers to obtain the block processing rewards. The block processing rewards obtained by the POS block producers from the users’ staking will be divided into two parts. One part is block processing rewards generated by locked tokens, and another part is the processing fees charged by the block producers for the block processing rewards generated by the users’ token staking and the processing fee is set by the block producers.
The remaining block processing reward will be evenly distributed according to the ratio of the token number of user staking to the total number of staking, and this feature is directly supported by on-chain functions.
Assume that the block processing reward is 3 YOYO, the block processing reward generated by the block producer from its own locked tokens is 2 YOYO, and the block processing reward from the user token proxy staking is 1 YOYO. The processing fee set by the block producer is 10%, and the block processing reward received by the block producer is 2.1 YOYO, and users participating in the token proxy staking receive 0.9 YOYO.
4. Add roles of user registrar and referrer, and introduce a more detailed content incentive system
Roles of user registrar and referrer are added, and referrers and registrars can get part of the user’s content incentive rewards.
The above is the specific content of this update.
5. Complete the feature code writing of the proposal of destroying 200 million YOYO tokens
Earlier, users of the YOYOW community initiated a proposal of destroying 200 million YOYO tokens. After community users voted, the approval threshold set by the YOYOW Improvement Proposal was exceeded. The YOYOW Committee has approved the proposal after review. In this update, the YOYOW Foundation includes this part of the code and will complete the production reduction of block producers. When the YOYOW Mainnet 2.1 is updated, the total supply of YOYO tokens will be reduced by 200 million, the block processing reward of POS block producers will be reduced by 30%, and the block processing reward of DPOS block producers will be reduced by 10%.
* YOYOW Mainnet 2.1 command line program and source code can be downloaded directly from the following address: https://github.com/yoyow-org/yoyow-core
* The source code has been released based on the YOYOW license agreement. More details about the license agreement are located in the License.md file in the root directory of the source code.
About YOYOW
YOYOW, an acronym of “You Own Your Own Words”，is a content value network based on blockchain technology. Its goal is to build a blockchain network that uses blockchain technology to quantify contribution in the content production area using a decentralized consensus method. YOYOW hopes that through the point incentive strategy, participants who create, disseminate, comment valuable content will be rewarded. YOYOW aims to enable the traffic dividends that used to be held by large social media companies to be distributed more fairly and reasonably to content producers, content supporters, website owners, content filterers, and ecology facilitators.
YOYOW Official Information
Official Website: ehttps://yoyow.org
Web Wallet: /https://wallet.yoyow.org
Blockchain Browser: /https://explorer.yoyow.or
Twitter: ghttps://twitter.com/InfoYoyow
