This weekly update is written by the community for the community, to bring you all the latest Syscoin, Blockchain Foundry and SCMT news! Thank you to our Slack member @blgh for compiling this update. Weekly updates, other articles and a lot more can can also be found on the new syscoin.community website!

Syscoin & BCF news

New Syscoin Developer Portal launched

The community has previously expressed the need for a developer portal, and so this month the Syscoin team launched a brand new online presence at syscoin.readme.io!

Here you will currently find documentation for exchanges and services, and more articles will be added very soon. If you have any requests for documentation to be added tothe portal, please get in touch via the ‘General’ channel on Slack. (join.syscoin.org)

Wallet transactions are taking a little longer than expected

Syscoin users have been asking why wallet transactions are taking longer than expected. A few weeks ago, the developers of Syscoin addressed the need to execute the mandatory upgrade from 3.0.5. to 3.0.6, an unfortunately not everyone has completed this upgrade.

In the case where a transaction is processed in a block on version 3.0.5, there is a minor possibility that your transactions will get stuck in that block. There is no need for concern over the safety of your coins; simply re-send your transaction.

QT: go to your debug console and enter ‘resendwallettransactions’ > hit enter.

A hotfix for this problem is being tested and should be released soon.

Syscoin governance proposal system

The Syscoin governance proposal system is based on the Dash governance system and has greatly increased our marketing capabilities, project awareness, and general progress across the board. It allows anyone to submit a proposal to fund a positive contribution to the project; once approved by the network, the proposer receives payment to execute their work. Governance in a decentralized project is difficult because by definition there is no central body to create and authorize budgets for the project. To solve this problem the Syscoin proposal system is governed by a distributed and decentralized network of Masternode owners, who are able to participate in the democratic process by voting for proposals that will add the most value to the project, via endeavours such as marketing and third party development.

Proposals can be created and submitted in the Syscoin QT 3.0 console. To combat spam a 100 SYS submission fee is required, and this proposal fee is burnt upon submission. Proposals cannot be altered once submitted.

Every 43800 blocks (30.4 days) a superblock is generated by the Syscoin protocol, minting a maximum of 168630 Syscoin to be distributed amongst winning proposals. Each masternode can cast one ‘yes’ and one ‘no’ vote. A proposal needs a net total of ‘yes’ votes (‘yes’ votes minues ‘no’ votes) equal to or greater than 10% of the total possible votes (for example over 100 out of 1000), and winning proposals are processed (paid) in descending order of popularity, until funds run out.

We created a page were all active proposal and more info about Voting an creating a proposal

Votes close 3 days before the superblock.

Syscoin core news

Z-dag performance testing

Performance testing for Z-dag is underway and will be released with a formal scientific paper soon. A separate paper outlining Z-dag in precise detail is also underway.

The dev team are also working on making assets compatible with addresses in addition to aliases; this will be necessary for assets to be listed and traded on exchanges, and it will also make assets a viable payment method in the marketplace. Currently, escrowed transactions require an alias owner, - after this upgrade an address will also be compatible for escrow. The unit test can be followed here:

An Accurate Take on the Binance Issues

MasterNodeOnline rebranding to Nodecheck

Our good friends at MasterNodeOnline (a masternode monitoring service with advanced detection and notification functionality) have rebranded their service as Nodecheck, in order to better identify on the market and reduce possible brand confusion.

SCMT News

Syscoin Community Mini-Proposal

We’ve seen that the community (knowing Syscoin better than anyone) can have amazing ideas to market and promote Syscoin, and to strengthen the community in general. SCMT is always open to new ideas, but we also want to help community members to develop and deliver their own marketing initiatives. For large-scale marketing ideas that require significant funding, anyone can submit a Masternode funding proposal. For smaller projects however, sometimes the 100 SYS fee will be uneconomical. This is why we came up with a plan to make it possible for community members to propose ideas that require smaller amounts of funding, and then let the community vote for which which ideas should receive it.

We are setting aside $2000 worth of SYS each month for community members to apply for, and each month we conduct a poll that enables the community to vote on which proposal to fund. If you want to apply for funds, please use the link below to locate the form. It is open until 7 days before the end of each month. During the last 7 days of each month Syscoin Community members conduct the vote.

For this month Community Mini Proposal we haven’t received many proposal yet, so please submit your proposal here:

SCMT Twitter account

For all the official and latest news releases please follow us for all the latest community news via our SCMT Twitter account, as well as hot-off-the-press Syscoin and BCF updates. The Syscoin team will also share our posts via their official social networking channels, to help spread the word.

Technical Updates

Syscoin 3.0.6 is released and its highly advised and mandatory to upgrade for general wallet users. You can find SYSCOIN QT 3.0.6 here. As stated above, upgrading to Syscoin QT 3.0.6 is mandatory and highly advised by the Syscoin core development team. Instructions for the mandatory upgrade for QT 3.0.6 can be found here:

Step 1: Login to the vps

Step 2.1: If you used Justin’s script, run this command and choose ‘y’ to upgrade

Step 2.2: If you used BCNF’s manual guide instead, run these commands in vps:

~/syscoin/src/syscoin-cli stop cd ~/syscoin git checkout master && git pull ./autogen.sh ./configure make -j$(nproc) -pipe ~/syscoin/src/syscoind cd ~/syscoin/src/sentinel git checkout master git pull

You do NOT have to press the start button after updating the node. Pressing that button will reset your qualification time and make you wait for |masternodes| * 2.6 / 60 hours for rewards.

Masternodes

At the moment of publishing there are ~1021 masternodes online.

Masternode daily reward calculation: 37411.2 SYS per day divided across the number of active masternodes (Currently ~1021).

‘Seniority’ will get you +3% ROI on your block reward for every 4 months running your MN. For example, after the first 4 months, you will get 25.98 + 3% = 26.77 rewards per block.

Latest release wallet for creating/managing masternodes is QT 3.0.6. Latest release for Sentinel is 1.1.1.

Checking masternodes

You can check your nodes with your server console on your server (e.g. Putty). Checking the status of your masternode(s) via the server console is always the most accurate way to do so. So if you doubt on QT, check on VPS.

There is a slight differentiation in comments for people who used the Justin Silver script and people who manually installed and update their VPS.

Using the script for installing and updating your VPS

Inserting the following lines into your server console (e.g. Putty) let you:

Checking your client version: syscli getinfo

Checking your masternode sync status: syscli mnsync status

Checking your masternode status: syscli masternode status

Checking the # of masternodes active: syscli masternode count

Checking the uptime of your masternode:

syscoin-cli masternodelist activeseconds | grep [your IP address]

Using the manual for installing and updating your VPS

Inserting the following lines into your server console (e.g. Putty) let you:

Checking your client version: syscoin-cli getinfo

Checking your masternode sync status: syscoin-cli mnsync status

Checking your masternode status: syscoin-cli masternode status

Checking the uptime of your masternode:

/syscoin/src/syscoin-cli masternodelist activeseconds | grep [your VPSIP address]

If you have any problems with checking the status or other masternode related issues. Please reach out to the community with the ‘Masternodes’ Channel on Slack.

For more information visit Syscoin.org