HYDRA 2.0 Upgrade is Coming on 27 Oct 2022 — Mandatory Node Update before that!
Dear Hydra Community!
We are very excited to announce that the testnet campaign was concluded with very good results and the much anticipated merge of the mainnet is scheduled for October 27!
The upcoming update is among the most critical ones as part of the Hydra 2.0 road map and is packed with a plethora of performance and usability features.
Please update your nodes in advance!
In order for the merge to go through smoothly, stakers need to update their staking clients to the latest version 0.20.4 before October 27. This is a mandatory update.
The merge is scheduled to take place at block number #477300.
You will find the download files in the link below:
In case you need help — just follow the simple guide on how to update your wallet below:
Stakers who haven’t updated their wallets by then will automatically be rejected by other nodes and won’t be able to continue staking with the old version.
Note: October 27 is an estimate based on the average block time and the number of blocks remaining between now and the merge block #477300.
What is the Merge?
The upcoming merge is the result of an extensive development cycle that was initiated roughly one year ago and concluded with the recent public testnet campaign. We want to take the opportunity to once again thank all testnet participants, without whom we couldn’t be where we are now.
The merge enables a number of features that will set the foundation for Hydra to reach the “next level”. Some of these are:
🔹 Block time reduction from 128 seconds to 32 seconds
This change is radical as it impacts not only the performance but also the overall user experience of the network.
With a 32 sec block time, on average a user making a trade on the Hydra DEX will only have to wait for ~16 seconds until confirmation. Fast confirmation times are not only important for arbitrageurs to operate efficiently, but also for organic traders who want to secure a certain price level under volatile market conditions.
The block time reduction also radically reduces the standard deviation of nodes (luck factor), as it increases the block production frequency by a factor of four. Thanks to this, the recommended minimum amount for deploying a private node will come down from 1,000 to only 250 HYDRA. This will reduce the entry barrier for small stakers and encourage the deployment of more nodes.
At the same time it will improve the regularity of block rewards for bigger stakers as well.
🔹 Peak TPS of 2,000
Because of the new architecture, the granularity between blocks has also been reduced by four times. What was previously a 16 seconds minimum time interval between blocks is now lowered to 4 seconds. This effectively means that HYDRA will be capable of reaching a peak capacity of 2,000 TPS in the event where dynamic elasticity is required — and 300 TPS in standard mode (up from the current 500 TPS and 75 TPS respectively).
🔹 Hardware Resources Optimization
The new staking client release utilizes all CPU cores in a more effective way. This is achieved by a series of improvements.
🔹 Introduction of Delegated Staking
The new feature “Delegated Staking” will be available immediately after the merge, which allows for offline staking via delegation.
Among the most impactful use cases is the potential for secure mobile staking. Mobile wallets will be capable of delegating the staking process to a third-party superstaker, which on its own creates a seamless experience even for the most inexperienced users.
The primary goal is to integrate the delegated staking feature to the current Hydra Mobile Wallet App, by introducing a “Stake” tab and unlocking support for one-click staking.
Once that works, the same functionality could be extended to any other mainstream apps or websites.
🔹 Unlocking Decentralized Staking Pools
An exciting new feature that will be unlocked via delegated staking is the possibility to create decentralized staking pools. Here is how that would work:
- Pool operator offers superstaking with a fee of 100%
- Participants delegate their HYDRA to the superstaker (pool operator)
- As the pool mines blocks, the rewards are distributed among the participants proportionally to their contributions (share of the pool)
Step 3 can be either automated via a pool token, or the distribution can be made manually by the operator.
While this system is not 100% decentralized, it is to 99% (last 1% being step 3). What’s great with this strategy is that you don’t entrust your principal to a third party. This is because the superstaker can’t do anything else with the delegated HYDRA than staking them. There is no risk for theft and therefore no need for trust. Or in other words, a non-custodial staking pool.
The only part that requires some minimal trust is the distribution of staking rewards. However, participants would quickly spot fraud once the first scheduled payment doesn’t arrive. Some pool operators may get creative and add special bells and whistles to their service, in order to attract more users.
“Through this feature, there will be for the first time an option for staking pools that doesn’t rely on centralized exchanges and through which stakers can remain the owners of their coins at all times.”
🔹 EVM Standard compatibility
In order to enable fast-paced development, it is important to have high compatibility with the latest EVM version. It usually has the most advanced tooling and best evolved Web 3.0 application ecosystem. After the merge, the Hydra EVM will match the Istanbul and Muir Glacier updates of Ethereum.
We hope that everyone will be able to update their nodes in time and are looking forward for this major milestone to be reached.
👉 Join the Hydra Community
HYDRA is a proof-of-stake blockchain optimized for real-world businesses. It tackles some of the most profound and challenging issues with existing blockchain economies and introduces a truly shared economy with fair treatment to all network participants. Some of the more notable features:
🔥 100% Burn of all Transaction Fees
💎 50% Royalty on Gas for Smart Contract Creators → More Info
📌 Fixed Coin Transaction Fees of $0.20 → More Info
📌 Fixed Token Transaction Fees of $0.50 → More Info
💰 20% Minimum APR Staking Income → Staking Calculator
📈 Up to 540 TPS Elastic Capacity
🔏 EVM Compatible Smart Contract Platform
⚙️ Wallet-Level Scalability → More Info
🗳 Unique Decentralized Governance Protocol
