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Blocknet project releases Comet, the biggest achievement since its creation

By Inkarias - 2020-02-18

The core team of Blocknet is pleased to share the new announcement of the release of Blocknet Comet, the biggest release to date since its inception. For a very brief overview, this release includes a new Service Node design, governance system, and staking protocol and more. This update is mandatory for everyone, regardless of the role, staker, service provider, or service Node operator. The official deadline to update is set to February 20th, 6pm UTC. This new solution can be downloaded directly from the official Blocknet website: https://blockdx.com/#downloads. This release includes the ability to easily create new addresses with the Generate New Address buttons in the order form. It also supports new assets: Argoneum (AGM) and Emercoin (EMC) and brings some updated support to a huge majority of currencies.

Some changes to the staking system and governance

The Comet release replaces the current double tier reward system with a single-tier block reward system in which everyone can stake, even existing Service Nodes. This results in a less fragile network by removing the mechanism that pays rewards to Service Nodes, it increases the security of the blockchain by enabling Service Nodes to stake which increases the number of stakers on the network by about 180%, and it stabilizes the support for services by removing the mutual exclusivity of staking and operating a Service Node. Finally, the Comet release offers greater performances as the system allows dramatically less bandwidth requirements and thus more people to participate in the network by being able to run the wallet with fewer resources, which produces a more stable network. The separation of the governance system and Service Nodes also opens voting to the wider community, allowing a larger decentralized democracy.

More details on Comet at https://blocknet.co/