Outside the cryptosphere, it’s been a turbulent couple of months for everyone. We continue to live behind the doors as the lockdown continues in many parts of the world. The financial and social consequences of the foregoing is evidence in the struggle to keep balance in every sector which contributes to our livelihood.
During this period of uncertainty, we urge continued support for the health sector and abiding by the guidelines set to flatten the infection curve and restore the global balance.
At Pascal, we have not relented any bit in all round development of the project,despite the hurdles. The pandemic unarguably slowed down speed of development a little bit and also reduced participation from community members and developers. But not a total stop.
It’s a new month, waves of optimism as the world struggles to set itself free. The past months haven’t gone as expected, Despite many cryptocurrencies staying green, the pandemic still lurks.
Here, we bring you the highlights of the past month as it concerns the pascal blockchain.
RHminer update: Improving functionality of the RandomHash miner.
With every update and upgrade, the Rhminer continues to get better. With the goal of providing the best mining facility for pascal miners, the Rhminer has been in constant development.
About a month ago, we announced the release of the version 2.3 of the Rhminer, during the first half of last month, we released an update to this version–version 2.3
RHminer V2.3 Further optimize the Rhminer functionality and improves its performance while fixing some bugs from the previous version. Rhminer v2.3;
Improves network stability of the Rhminer.
Optimize the Rhminer from 5% to 10%. Effectiveness of this however depends on the CPU and memory speed of the mining device.
Removes requirement of command line options; CPU and CPUthread.
Changes default mining count to ALL instead of 1(one).
Mining reward halving: Reducing supply to increase scarcity and drive value.
As a POW coin, the mining process is the major (only) means of generating pascal (PASC). As at the month of March, reward for mined blocks stands at 50PASC. However, to reduce inflation and slowdown the rate of supply, the miners' reward for mining will be reduced to half the previous value.
The pascal blockchain is expected to half its mining rewards within the next 48 hours at block 420,480. After the halving, each miner is will now be rewarded with 25PASC for each block mined. We’re excited about this development as it represents a tangible change in the project tokenomics.
Idle PASA and PASC recovery: Salvaging inactive accounts to maintain supply.
As stated in pascal blockchain project’s document, inactive PASA (pascal account) and PASC (pasc) are recovered after a period of four(4). The aim of this is to prevent PASCs and PASAs from being lost forever.
Conversation have arouse as regards as we hope to get a better to do this without hurting investors. Suggestions on increasing the recovery period and recovering only empty idle Pascal accounts as investors might leave their accounts for a long time without performing any transactions.
This conversation is ongoing and we are ready to implement the decision taken by the general community. Join us on discord and be a part of the conversation.
Key-team election in line with the provisions of PIP-040.
The PIP-040 which presents the most advanced management scheme for pascal community till date is yet to go through community voting stage. When it pulls through the voting stages, the community is expected to elect deserving member to represent different sectors of the project as part of the key-team duties.
The elected members are however in no way different from the rest of the community and as a matter of fact hold equal rights to contributions and participation as every other member of the community, they however oversee their allocated duties and represents the community in these areas.
They are obliged to report to the community about issues concerning their duties. They act in the name of the community and execute community decisions.
Every member of the community is expected to take part in this activity and exercise their franchise as a member of the community.
Budget proposal for the second quarter of the year .
In line with community guidelines and in order to be completely transparent in financial management of the project, budget of expenditures are presented to the community for approval prior to allocations and expenditure.
Having gone past the first quarter of the year and having exhausted the budget provisions for this period of time, concerned contributors are expected to present budgets for expected expenditures for the next four months.
Presented budgets will be voted by the community. Community members are expected to criticize the presented budgets and make informed decisions as regards this. Approved budgets are expected to run throughout the next four months.
As we continue with this odd time in our existence, we urge everyone to stay safe and adhere to social distancing specifications and other guidelines which are expected to sustain safety and slow the rate of infection. Until next time, stay safe!
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The discussion continues on discord!: https://discord.gg/xv5ByZW
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