The last 2 weeks have been a whirlwind of activity and turmoil surrounding the Crypti Foundation and the Crypti Network itself. As the core members of the Crypti Foundation, we would like to release a public statement and clarify what exactly the recent developments mean for Crypti and how it impacts the future of the network.
Final Milestone Completion
We would like to start off by announcing that we have reached the completion our final milestone. As of the release of version 0.5.4 of the Crypti Client, we believe the core technology is feature complete and all systems promised in our initial ICO are now implemented and functional. This is a big milestone for Crypti and the Foundation and we believe we have created a cutting edge technology that incorporate some of the best features and usability in the industry.
Crypti is a JavaScript implementation of the Delegated Proof of Stake (DPoS) system with 10 second block times, multi-sig smart wallets, built in contacts, a highly developed client with expertly designed interfaces, and feature complete side chains. At this point, we would be willing to stack our core tech up against anyone in the industry, including Ethereum. We are very proud of how far we have come and the adversity we have been through. We really do feel like Crypti is something special in the space and we are proud to have the entire technology, website, and all materials completely open source and available for use.
The Lisk ICO
As many of you may already be aware, a new fork of Crypti has been announced by former Crypti Foundation members Max and Olivier. Lisk will be an offshoot of Crypti and will not be a fork of the Crypti Network itself. It will feature a new genesis block and also a few changes to the core mechanics. The biggest change being the institution of an inflationary block reward of 5 Lisk per block. This will allow for all delegates to receive a portion of the block reward whether transactions exist in that round or not.
The Lisk team will be holding an ICO beginning on February 22nd and the Crypti Foundation is fully behind their launch. We are excited that others are seeing the value inherent to the Crypti technology and are looking forward to working together with them to ensure that their launch is a success. The Lisk team has posted a Roadmap for their development cycle that you can view at the following link: https://blog.lisk.io/the-lisk-roadmap-9e854719e792#.nnpemlnaz
The Lisk team will be offering a direct conversion of XCR to Lisk during their ICO at a conversion rate of 1300 Satoshi per XCR. You can view the first details of their ICO here: https://blog.lisk.io/lisk-ico-terms-part-i-2e7d01955e4d#.d0mjixect
The Next 6 Months
As for the Crypti Network itself, we are winding down the development cycle on the core technology. We believe it to now be feature complete and will be transitioning to a more maintenance focused role. The Crypti Foundation will focus on supporting critical bug fixes for a period of 6 months, as well as funding delegate costs and maintenance of the network for the same 6 month period. During that time, additional development and production moving forward will be handed over to the community.
We believe Crypti to be one of the more robust and forward thinking technologies in the space and think it is the most advanced starting off point for any new team looking to develop a product or network in the decentralized space. We hope that anyone out there looking to create new ideas or innovate, will consider Crypti as the backbone of their network and help push the core technology and it’s offshoots forward to new heights.
We would like to sincerely thank our community for helping us get to where we are and for supporting our efforts to build out something new, exciting, and unlike anything the space has seen before. Our implementation has a lot to offer and we hope that you will consider utilizing and promoting Crypti in any future endeavors as we believe it to be the strongest open source option currently available.
Thank you again to everyone out there in Crypti land and we look forward to continuing this movement together, as a community. We are excited to turn development over to the hands of the people and see where it goes. The possibilities from here on out are endless. Whether it be through the core network, the development of Lisk, or even through some idea that is still a small nugget in the back of your mind, we can’t wait to see what you can do.
The Crypti Founders,
Boris, Arman, Stas, Mike, and Matthew
