StraX to replace Stratis - what it will change ?

StraX to replace Stratis - what it will change ?

By Bogdanel | Stratis Fans | 30 Sep 2020


Hello,

as I informed you in first post Strax can be the new and improved STRAT token. If the vote who ends on 9th OCT  is going to be YES from block 1 we will have  a lot of new Blockchain Enhancements

 

Several optimizations have been incorporated into the Stratis ‘STRAX’ Blockchain; these enhancements provide many benefits for users of the platform. These optimizations range from introducing a revised tokenomic model to technical enhancements that provide increased on-chain security with the potential to increase levels of decentralization further. Community-focused features such as dynamic masternode membership will undoubtedly captivate interest from existing and those who are new to the Stratis Platform.

A high-level overview of the most notable enhancements can be found below.

 

Block Reward Increase and Cirrus Sidechain Incentivization

The block reward has been altered, so each mainnet block produced provides a reward of 18 STRAX, thus adjusting the annual inflation rate from 0.5% to just over 10%.

Of the 18 STRAX block reward, 9 STRAX is retained by the block producer. The additional 9 STRAX are sent to the CIRRUS Sidechain and distributed to all block producing Masternodes.

This alteration to the block reward, coupled with the sidechain incentivization provides a necessary revamp to the Stratis tokenomic design. These changes increase Staking Rewards for those staking the STRAX Token to over 150%, as an example, those currently receiving 1 STRAT Staking reward per day, will now receive, on average, 13 STRAX, per-day; based upon current staking weights on the Stratis Blockchain.

 

Block Time Reduction

Block Time has been successfully reduced to 45 Seconds, thus providing a higher Transactions Per Second and a decrease in time for transaction validation. To put this into context, this reduction in Block Time equates to the creation of an additional 208,050 Blocks in a calendar year.

 

Cold-Staking Activation

The activation of Cold-Staking provides holders of the STRAX Token the ability to obtain through ‘Staking’ STRAX Tokens that are held within an offline wallet, such as a Ledger Nano.

This provides additional security and has the potential to increase levels of decentralization through more security conscious holders participating in securing the network through staking.

 

Cross-Chain-Transfer Time Reduction

Through feedback received from the development community and through our efforts to increase adoption rates of our Stratis Smart Contracts solution, the STRAX Blockchain will offer a reduced time-window for performing cross-chain transfers.

Historically, such transfers would be subject to an eight-hour delay to ensure transaction validity. This window has now been reduced to under for mainnet transfers of STRAX to CRS. Improving on this Cross chain faster payments of 50 STRAX or less are processed in just over 15 minutes (25 Confirmations).

 

Improvement to Blockchain data stores

As part of the Stratis Full Node development for STRAX, we have rearchitected our existing datastores with Google’s LevelDB data storage solution. Such a change has seen drastic improvements to synchronization times whilst also bringing a reduction in memory consumption and disk space usage across all nodes.

 

Increase of OPRETURN Capacity

The size of a standard OP_RETURN (nulldata) output has been increased to 83 bytes, to match the size used on the Bitcoin network. This expands the potential utility for such transactions on the STRAX Blockchain, as it will be simpler for nodes to get their transactions propagated when the additional space is required. For example, where it would previously only be possible to store a single transaction ID or block hash, it is now possible to store two. This is useful for attestation protocols or for tagging specific transactions with additional metadata or signatures.

 

Masternode Dynamic Membership

The introduction of Masternode Dynamic Membership provides the ability for new block producers to join the federation with ease, further increasing the levels of decentralization and security of the Cirrus Sidechain. The new functionality enables anyone meeting the defined collateral requirement to create a vote requesting their unique mining key be added to the federation. Existing federation members will autonomously vote in favour of such a request if the mining key is valid and collateral requirements are met.

To ensure consistent block production and block timings on the Cirrus Sidechain, online federation members must remain online. As it stands, those who do not remain online and subsequently miss their block production slots are currently not penalized. In parallel to the STRAX Blockchain launch, additional rules will be introduced on the Cirrus Sidechain. These rules will autonomously enforce the removal of federation members who consistently miss their mining slots, this, in turn, results in a fair distribution of block rewards transferred from the STRAX Block production and ensures a consistent block time.

Dynamic membership also provides the ability for new block producers to join the federation, further increasing the levels of decentralization and security of the Cirrus Sidechain.

 

Masternode Collateral Increase

In addition to the implementation of Dynamic Membership, after careful consideration, we have also opted to increase the collateral requirements for new Masternodes joining the federation. Currently, only 10K STRAT is required to operate a block producing Masternode on the Cirrus Sidechain.

This change is necessary to increase the levels of distributed staking weight on the blockchain. With the newly introduced tokenomics, offering a share of 9 CRS Tokens for every mainchain block produced, the incentive is clear. Existing Masternode operators will retain their current collateral requirements; however, if you are removed from the federation due to missing mining slots, your historic collateral requirement cannot be honoured.

 

Removal of Legacy Node Support

The STRAX Blockchain will initially only support interconnectivity between other instances of the Stratis Full Node. We will be removing support of any other staking nodes, such as the legacy Stratis Token Node and Stratis QT Nodes. The removal of legacy node support removes the complexities associated with a heterogeneous environment, providing confidence in expected behavior with newly enabled features.

 

Segregated Witness Activation

Segregated Witness (SegWit) will be activated on the STRAX network by default. SegWit capability has been actively used on the Bitcoin network (among others) for an extended period and has proven itself to be a robust protocol improvement. Usage of SegWit provides several benefits to the STRAX network.

  • A significant increase in the number of transactions that fit in each block, thus increasing transaction throughput of the STRAX Blockchain.
  • Increased transaction security, as transaction IDs are no longer malleable.
  • A built-in upgrade path for future updates to the script language used in STRAX transactions.
  • The ability to introduce new types of transaction signatures and scripts. i.e. Schnorr signatures and taproot.

 

 

You can read more here

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Bogdanel
Bogdanel

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