Developer UpdateKekcoin Developer Update #8: Kekcoin v2.0 (SegWit)

Kekcoin Developer Update #8: Kekcoin v2.0 (SegWit)

Wallet Upgrade

We are pleased to announce that Kekcoin v2.0 is now available for download. The network is undergoing a backwards compatible yet mandatory soft-fork and it’s necessary for everyone to upgrade their wallet software, or risk being forced off the network. Please backup your wallet.dat files before updating as is standard practice when updating a wallet. No further action is required after updating the wallet software.

For power-users, we have a short tutorial on how to set up a new staking node for a Raspberry Pi.

Segregated Witness Activation: The deployment method for this soft-fork follows the generic mechanism described in BIP 9. The start time, after which stakers may signal they are aware of the up-coming soft-fork, is 1/1/2018. Soft-fork activation requires 70% of stakers to signal during an activation period of 10080 blocks (~1 week). Practically, the signalling is achieved by setting the nVersion field in a new block to a specific value. This “lock-in” period repeats every 10080 blocks until the required signaling threshold is attained or until 1/1/2019 is reached. If the threshold is reached then the soft-fork becomes active and any staking nodes who aren’t signaling will be forced off the network. If the threshold is not reached before the soft-fork time-out (1/1/2019) then the deployment will be considered failed.

Advantages of Kekcoin v2.0

As you may be aware, the Kekcoin code is based on Bitcoin-Core’s reference implementation. This upgrade takes Kekcoin from code-base v0.08 to v0.13, bundling roughly 3 years of development into one upgrade. A few notable changes are:

  • Faster Synchronization (utilizing headers-first synchronization)
  • Improved performance & security for signature functionality using libsecp256k1 instead of OpenSSL
  • Block file pruning (Storage optimization)
  • OP_RETURN output size increased to 80 bytes (Simplifying MemeChain implementation)
  • Automatic use of Tor hidden services (if Tor is running)
  • Hierarchical Deterministic Key Generation (Simpler address management for users)
  • Segregated Witness (BIPs 141, 143, 144, 145) — see Update #7.

To see a full, detailed list of notable changes pertaining to privacy, performance, security and general code modernization please see the Release Notes for Bitcoin-Core at https://bitcoin.org/en/version-history.

As well as numerous improvements to every aspect of the cryptocurrency, this upgrade better prepares the Kekcoin code-base for continual development and maintenance as the cryptocurrency space evolves.

MemeChain

The initial proposed timeline for development of the MemeChain was between the start of October and the end of January. Due to the work that was required on the core protocol first, we need to push the release date backwards. As mentioned previously, this is necessary since the MemeChain implementation is dependent on parts of the core protocol which have now been upgraded (certain OP codes and RPC calls, for example).

We still aim to have a working prototype by the end of Q1. In the meantime a demo of the first MemeChain web app will be released for trial by the community, to get feedback on the current design & feature decisions.

While development on the MemeChain was halted as Kekcoin v2.0 took precedence, the research into different ways of implementing MemeChain continued. An idea has surfaced which we believe should be the ultimate goal for MemeChain development.

In its current form, all MemeChain nodes would be run voluntarily by loyal disciples of Kek. However, it is possible that running a MemeChain node could become a service which is incentivized by the Kekcoin blockchain — through a Masternode network. A Masternode (as pioneered by DASH) is a node which is given a share of the block-reward for providing additional services to the network. In our case, this additional service would consist of running a MemeChain node. This would bring greater decentralization to the MemeChain protocol. It would more intricately integrate the MemeChain & IPFS with the Kekcoin blockchain and enable it to perform more efficiently.

This would require developing a custom Masternode proof-of-service mechanism and is still early on in research. A first step would be to implement the version of Masternodes engineered by DASH which would bring greater privacy and scalability options to Kekcoin.

Kekcoin Future Outlook

We are in the process of creating a broad roadmap for the Kekcoin project in 2018, with a focus split between technical fundamentals (i.e. core protocol) and application (MemeChain). For anyone who wants to contribute to this open-source project, please get in touch through our telegram chat group.

With Kekcoin v2.0’s modernized code-base it is a much simpler task to port over new protocol updates from Bitcoin-Core and maintain a state-of-the-art code-base. This includes continual security, privacy, and performance updates as well as wholly new features (e.g. MAST & native SegWit wallet support).

The new roadmap will be released in the upcoming weeks. Further, we will be looking to expand our marketing efforts to gain more exposure and put together rigorous applications for listing Kekcoin on new exchanges.

The Kekcoin website has been updated to reflect some of the changes in our core protocol and improve the user experience. Any feedback on these changes would be appreciated and is encouraged.

We thank you for your continued support, without you we would not be able to make the MemeChain a reality.

Shadilay!

The Kekcoin Team.

Categories: Developer Update