It has been a while since our last update and there are a few key pieces of information to relay. This update will reflect decisions made by the Foundation on where we plan to go from here. No specific product or release announcements will be made but a version release announcement will come soon to coincide with our next version.
The Foundation
The Crypti Foundation was created based on community feedback during the pre-sale process. The community wanted an organization that consisted of both community members and the original development team, working together for Crypti's future. This was the driving force in the creation of the Foundation and its structure.
After functioning in this manner for several months it has become apparent to both the Foundation and the active community members that this type of construct is too slow moving and lacks the agility that is required in such a fast moving industry.
Effective immediately, the structure of the Crypti foundation will be altered in the following manner:
The Crypti Foundation as it stands now and the Crypti team will now be referred to as the Crypti Development or Dev Team. The Foundation will be re-organized at a later date and take on a different form.
The Crypti Dev Team
SyRenity will function as Crypti Project Manager and will gradually take resposability for all the important day to day decisions, without requiring the majority vote of the Foundation or Dev Team for action. He will also gradually cease work on all other projects with the goal to focus full time on Crypti.
Arman and I (GreXX) will be authorized to make immediate decisions in SyRenity's absence.
The Board of Directors of the Foundation will continue to function as that, a board of directors responsible for providing input and ensuring a propserous future for Crypti. They will have oversight in regards to ensuring the Project Manager is successfully performing his duties and will help steer the long term plan for Crypti, but will have no day to day say in operations of the Dev Team itself.
These are initial changes that will be expanded upon as SyRenity continues to develop the new operating structure for the team.
Crypti
This project, from the beginning, was being built to solve several perceived problems in the industry.
To create a more equitable system of rewards. In essence, we wanted to eliminate the PoW monopoly by large mining companies and eliminate the problem that traditional PoS has with hoarding. We wanted our system to be fair and provide equal chance for all users to earn.
To have built in incentives to increase adoption and use by merchants. We wanted to make it as easy as possible for someone to accept Crypti and have it make financial sense to do so.
To focus on developers. We wanted to create a system that would not just encourage developers to use Crypti, but make it substantially easier to build off of our block chain and network than others in the marketplace.
These are still our driving goals in the creative process for Crypti and we believe we have a new and defined path to get there.
The Way Forward
We are moving forward with several main goals in front of us. Our first and most important goal is to get the current optimized solution out to all users ASAP. The Dev Team has been hard at work optimizing the current code and has made great progress.
A new release version is almost complete by Boris that contains some of the optimizations we have been discussing. It contains load time optimizations and several other key updates from the current version. A second release version is also in the works with both Boris and the new developer working to finalize optimizations to load times, memory utilization, and a re-write of the API along with a new P2P functionality. We should have several release announcements in the near future.
These releases will provide stable and faster performance, but were never meant to be a permanent solution. We have reviewed multiple options and theories on the best solution and have finalized a decision to use a modified version of Delegated Proof of Stake (DPoS). We will be modifying the traditional DPoS system in order to allow a reward system that we feel is as fair as possible to all participants, but will still maintain the delegate system.
The delegate system provides for established methods that have been proven to be both successful and secure in their function.
For more information on DPoS, you can read the following articles:
There are also several talks by Daniel Larimer, the founder of Bitshares, in regards to how DPoS works. The main downside of DPoS to some is that they believe it to be a more centralized solution. While it could be considered centralized, the centralization (i.e. the delegate nodes) are determined by the users of the network who use their stake to vote on who will become the delegates, ensuring that the trusted nodes are nominated by the people and not a central entity.
We will get in to much more detail about this as well as discussing our thoughts with all of you in our IRC channel #CryptiTalk as well as on the CryptiTalk Forum.
Custom Block Chains
Once the DPoS solution is coded and in place, we will move on to finalizing the Custom Block Chains function, which is a core feature of Crypti. Now that we have finalized a solution for forging, we feel that it is important to have it in place prior to implementing Custom Block Chains in order to allow for the utmost security. Once users start developing custom chains it will be much harder to institute any major sweeping changes to the forging system.
Our goal with the Custom Block Chains feature is to allow for an easy to use system and interface which would provide the ability for users to quickly develop and implement their own Block Chains, Assets, and systems with custom rules, without the need to build out large networks. Instead, these Custom Chains would utilize the Crypti Core Network as a consensus solution through the use of XCR as "fuel" for validating blocks.
Technical documents with more detail and a more fleshed out whitepaper on the Custom Block Chains feature are being completed and will be released in the near future.
TL;DR
SyRenity will be taking over as Project Manager of the Crypti Development Team and will be responsible for day to day operations without requiring majority votes of the Board.
Boris and the new dev are almost done optimizing the new release version. The new dev has been a great help and they have optimized memory use, loading speed, and have a much more stable node.
A modified version of DPoS will be the official forging solution for Crypti and development will be immediately after we finalize the current optimized release version.
After completion of the forging solution, we will immediately start production on Custom Block Chains.
In Conclusion
A lot more changes will be coming down the pipe. As you may have noticed, Boris and I are much more active in the IRC channel and will continue to be so. We will also make every effort to provide a public board that shows the current items in development and progress on those items by the Dev Team. We will also be looking to hire at least 1 more full time developer to add to the team.
We will continue to keep you updated on our progress and you can expect an update from SyRenity in the near future on his outlook as Project Manager for the future of Crypti.
Most importantly, a huge THANK YOU goes out to every single one of you that has stuck with us and continues to support the Dev Team. We look forward to seeing you in IRC & at CryptiTalk!
