A little about DeVault (DVT)
Some of you might be familiar with DeVault and if so go ahead and skip to the next section, but for those of you who aren't here's a quick rundown:
DeVault is a young community & governance focused cryptocurrency network. The blockchain launched in June of 2019 and the codebase is a fork of Bitcoin ABC. While we have kept up to date with relevant updates from the Bitcoin ABC codebase since launch we have also diverged quite a bit from ABC and Bitcoin Cash.
First off our DAA has been LWMA from day 1. We recognized the serious issues with cw-144 early on and especially being a new minority sha256 chain we needed to be prepared for hash fluctuation. We also have a 2-minute target block time and completely removed base58 addresses from our network. We only use the bech32 (cashaddr) format.
We have a 1 coin = 1 vote community governance system for all network decisions, as well as for funding decisions from the Community DAO. All voting is done via message signatures to verify ownership of on-chain balances via our Community Platform.
We are the first and only cryptocurrency network to introduce Cold Rewards a unique distribution model that rewards holders of 25k or more coins. While still maintaining PoW network security user's are able to receive newly generated coins. All utxo's of 25k DVT or more will receive a portion of the coinbase reward after 21,915 confirmations (approx. one month). The current cold reward rate is 12% annually (1% per month).
We have a unique base inflation / mining reward model as well. Instead of the halving schedule introduced by Bitcoin we opted for an inflation model that gradually increases before peaking and then gradually decreasing from there. The starting block reward was 500 DVT, which peaked at 750 DVT and is now decreasing with a reward of 337 DVT per block at the time of writing.
We've already forked a lot of services and software familiar to Bitcoin Cashers like DeVault ID (Cash Accounts fork), DeLight (Electron Cash fork), BitDB & much more. We're also in the process of introducing the DeVault Token Protocol (our fork of SLP) which will take advantage of BLS aggregation privacy as well.
A little about DeVault (DVT)
Some of you might be familiar with DeVault and if so go ahead and skip to the next section, but for those of you who aren't here's a quick rundown:
DeVault is a young community & governance focused cryptocurrency network. The blockchain launched in June of 2019 and the codebase is a fork of Bitcoin ABC. While we have kept up to date with relevant updates from the Bitcoin ABC codebase since launch we have also diverged quite a bit from ABC and Bitcoin Cash.
First off our DAA has been LWMA from day 1. We recognized the serious issues with cw-144 early on and especially being a new minority sha256 chain we needed to be prepared for hash fluctuation. We also have a 2-minute target block time and completely removed base58 addresses from our network. We only use the bech32 (cashaddr) format.
We have a 1 coin = 1 vote community governance system for all network decisions, as well as for funding decisions from the Community DAO. All voting is done via message signatures to verify ownership of on-chain balances via our Community Platform.
We are the first and only cryptocurrency network to introduce Cold Rewards a unique distribution model that rewards holders of 25k or more coins. While still maintaining PoW network security user's are able to receive newly generated coins. All utxo's of 25k DVT or more will receive a portion of the coinbase reward after 21,915 confirmations (approx. one month). The current cold reward rate is 12% annually (1% per month).
We have a unique base inflation / mining reward model as well. Instead of the halving schedule introduced by Bitcoin we opted for an inflation model that gradually increases before peaking and then gradually decreasing from there. The starting block reward was 500 DVT, which peaked at 750 DVT and is now decreasing with a reward of 337 DVT per block at the time of writing.
We've already forked a lot of services and software familiar to Bitcoin Cashers like DeVault ID (Cash Accounts fork), DeLight (Electron Cash fork), BitDB & much more. We're also in the process of introducing the DeVault Token Protocol (our fork of SLP) which will take advantage of BLS aggregation privacy as well.