Hello Stellite Community!

We hope that everybody started the New Year with a big smile even though the crypto market in its whole still isn’t all too exciting! After spending time with our friends and families over the New Year holidays, we finally pushed things forward and made some exciting steps in January 2019.

V5 Adamantium Fork

The fork block 503001 was found on January 16. The transition was smooth and without technical issues. The Stellite network is now running on the updated version V5 Adamantium which has the following new features:

5 Minute block time

New features from XMR upstream

Bulletproofs

New GUI wallet

For more details about the new features, please head over to MO September. After the successful fork, the devs now have more time again to develop their respective products.

Important: A new GUI wallet update hes been released and downloads are available on https://github.com/stellitecoin/Stellite/releases/tag/2.0.0 & https://github.com/stellitecoin/StelliteGUI/releases/tag/2.0.0.1. The new release includes a few fixes concerning wallet creation and synchronization plus some small cosmetic changes. You will also find a help-page in the wallet that addresses common issues and an integrated donation feature.

Fork and Difficulty Adjustment Algorithm (DAA) — Analysis & Technical Explanation

We didn’t encounter any bugs during the fork and the chain recovery went smooth as expected — thanks to the help of each one of you who contributed hashrate to get over the first couple blocks.

For newcomers, here is a link that explains how our DAA works: https://medium.com/stellitecash/why-stellites-difficulty-algorithm-and-proof-of-work-variant-is-one-of-the-toughest-to-attack-fe4afbdc7eed

DAA Graph

On the graph we can observe a big spike on the first blocks after the fork. This can be explained mainly by the changed blocktime from 1 minute to 5 minutes.

Additionally, we forked away from the huge unknown miner (supposedly FPGA) which led to a network hash rate drop from 35MH to 1MH. This means that the first block would be 35*5 = 175 times harder to find.

We expected the first block to be found after ~3 hours. Luck did its part and it took a bit longer. The following blocks were found increasingly faster as the DAA did its job and helped the chain to get to the new difficulty target.

Until now, we did some after-fork diagnosis on the blockchain to confirm that the average solvetime is ok. We got 301 seconds as real solvetime while 300 seconds was our expected value (from block 503100 to 504785), so we’re happy with the results!

Fork Twitch Stream

Philip and Felix live-streamed the fork on Twitch TV (Philip’s Twitch Channel). The fork happened very early in the morning (MET), so thanks to both of you for answering people’s questions and providing entertainment and music for the viewers. The stream was a nice interactive experiment and we’re looking forward to more Stellite-related livestreams!