Introducing DeVault 1.1 w/ DeVaultID, DeVault Token Protocol (DTP), new DAO/Inflation adjustments & other updates.

DeVault Core 1.1 is out, including the NEW Cold Rewards tab!

The devs have been working on getting 1.1 ready for everyone with new additions in the form of an added tab within the wallet dedicated to estimating your future Cold Rewards in an easy to understand manner. This is a work in progress but currently is usable in an early format.



Please download your new wallet update only from www.DeVault.cc or Github directly.

Light Wallet - Delight Desktop now includes #DeVaultID feature, simple blockchain registered usernames for everyday usage! Register yours today!

On the heels of 1.1 we’ve recently released a new feature for the DeLight Wallet suite for desktop versions for now; which, in a nutshell lets you create customized Usernames for a DVT address by simply paying a transaction fee and leveraging OP_Return to store these usernames in the Blockchain permanently.



This is the beginnings of a simplified Address Book system which should make P2P trading much quicker, easier and more similar to the day-to-day payment experience most users would expect.



What are you waiting for? Register your username by following the instructions over at www.DeVaultID.com

DeVault was launched into Mainnet on June 4th and has been running smoothly since, while being listed on quite a few platforms including; CoinmarketCap, Coingecko, CoinMetrics, MiningPoolStats and many others. $DVT is also currently trading on: SouthXchange, Graviex, SwiftEx, Altmarkets and Escodex.



The goal of the DeVault Economy is to operate as the basis for a financial system of the future, complete with trustless on-chain solutions as well as a robust ecosystem of projects, merchants and users to guide this digital organism long into the future. This organism is the DeVaultDAO.

We’re proud to announce we’ll be working on adding a Token Protocol to the DeVault blockchain ecosystem in the near future! Everyday Tokenization for anything!

The DeVault blockchain is a highly scalable technology that is capable of many different high level use cases, the first of which we launched with, being digital cash functionality, now we’re moving slowly into other areas and the first one we’d like to tackle is tokenization within the DeVault ecosystem, which we’ve spent many weeks researching and now feel it’s appropriate to announce our intentions to begin work on these additions as part of the next phase of DVT development.





Introducing DeVault Token Protocol (DTP)

These tokens will come in the form of a technology called fork of Simple Ledger Protocol that is currently being built on top of the Bitcoin Cash blockchain, since our codebase is right in line with BCH, porting this technology over to DeVault will be much simpler than other possible solutions and seems to be the best way to move forward. We are currently in the process of finalizing the research phase and slowly working out the technicals of the project, if you would like to get involved to assist please contact Proteus#2089 in Discord or email hello@devault.cc.

What is DTP going to be capable of?

The DeVault Token Protocol (DTP) will be ideal for on chain scalable tokenization of virtually anything people would like to tokenize, from charities, for profit companies, loyalty programs, gaming tokens or simply learning experiments. The possibilities will continue to grow as the ecosystem does and eventually a fully programmable scripting language to strengthen the capabilities of this token ecosystem.

When can we expect this to launch?

There are no concrete timelines on this addition yet as it is a large undertaking with many moving parts, but it’s safe to say it will happen, and it won’t take 18 months or anything unfair like that obviously. We will provide many updates between now and the launch phase of the Tokens Protocol and hope to complete the launch within a few months.



We’ll keep everyone updated as we have more information to release. For now join us in Discord to keep up to date or follow us on Twitter.

Community approved adjustments have been voted in and implemented.

Being that the DeVault DAO is made up of not only the overall community members but also the day to day volunteers coding and pushing the network forward on a daily basis, it’s up to the community how to handle design decisions in the future in an effort to keep the project viable long term.



Our first community decided, sweeping reforms have been passed! After 4 seperate 30 day long voting periods a few changes worth mentioning include;

15 day voting period instead of 30 day.

Minimum Cold Rewards balance increased from 1,000 DVT to 25,000 DVT.

Overall future inflation will now be reduced by 60%. Block rewards will now peak at Block number 131,490.

Temporary DAO mergers to increase focus, productivity & reduce spending.





New inflation model! 60% less coins will now be created! Minimum Cold Rewards balance has increased.

After a 30 day long vote, the DeVault community voted in favor of an overall inflation reduction of 60%. The inflation changes will reduce the overall future supply at the end of 3 years from 1.2 billion to roughly 500 million, and overall the entire future inflation will be reduced by 3 billion over the lifetime of the project. The new whitepaper will have all of the graphs and will be released soon as well.



The community also voted to increase the minimum balance in order to receive Cold Rewards due to the market conditions and the price being so low, this will help reduce blockchain spam tx’s and also realign incentives with current market values. The new minimum is going to be 25,000 coins in a single UTXO instead of the current 1,000 minimum.

Plus many other projects released and code updates launched in the past 8 weeks! Here’s a short list:

-BitDB

-BitServe

-SockServe

Alongside the above mentioned projected many NodeJS depencies for them have also been forked and pushed to our github, with more to come very soon.



SouthXChange 30 day trading contest has ended, winners will be chosen soon. What do you think the next exchange is we should do a contest on? Let us know on Twitter.

We recently hosted a 30 day long trading competition which offered to reward the top 10 most active traders in terms of volume on SouthXChange between September 15th and October 15th. This trading contest has since ended and results will be tallied soon, upon which time the traders in question will each be rewarded 10% of the current 260k coins raised for the contest! What exchange do you think we should host the next contest on? Graviex perhaps? Let us know on Twitter @DeVaultCrypto!



Until next time everyone!