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Morphene Blockchain is now looking for Witnesses

The time is now here for the Morphene Blockchain to start looking for users that are interested in running a witness server. As you may be aware with Steem, witnesses earn tokens when they sign blocks into consensus; making the network run stable and secure.

The same is true for the witnesses on the Morphene Blockchain. Read on for more information how the witness setup will look ...

Join Us In Discord

The witness chats will be taking place in our Morphene Discord server. You can join the server by clicking on this link.

Consensus Algorithm

The Morphene Blockchain consensus algorithm is based on the Delegated Proof of Stake concept with the addition of slots available for Proof of Work miners. Like on Steem, Morphene requires 17/21 witnesses to agree on the code before any hardfork or changes to the running network are possible.

For the initial launch, Morphene will maintain 17 witness servers and vote them into the lead. This will ensure that we are able to effectively control the network and remove any unknown issues or problems that may arise during or after the initial network launch. After the network has been deemed stable, Morphene will relent the witness positions entirely and let the community take over in this regard.

Morphene will continue to provide for the development of the Morphene Blockchain after relenting witness control. It will be up the the elected witnesses to decide if they will run the future proposed changes or not.

Initial Token Supply

The Morphene initial token supply will be 1 Billion tokens that will be used for development, marketing, giveaways, partnerships, and anything else that will effectively grow the Morphene network. There will be no initial MORPH trading market, so users looking to run witness servers will have to leverage a certain bit of hope and trust that there will eventually be one.

The MORPH supply inflation rate will start at 15% and decrease overtime to 0.95%. This should enable sufficient token creation and supply in the early days of the network, while preventing a mass creation of tokens 10+ years from now. As a witness, you will earn more rewards by joining early and taking advantage of a higher inflation rate and less competition.

Number of Witnesses

There can be 17 elected witnesses, 3 timeshare witnesses, and 1 miner witness at any given time in the witness scheduling. Miners can also create accounts by submitting valid proof of work discoveries for a non-existent account.

We Want You

So if you are the kind of person that is capable of being involved in an up and coming network, you can run and maintain a witness server on mediocre equipment, and you are great at networking and outreach then we don't want you ... we NEED you. The success of this network will largely depend on the ability for word of mouth to spread and for the crypto, and non-crypto, community involvement.

Join Us In Discord

The witness chats will be taking place in our Morphene Discord server. You can join the server by clicking on this link.

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