Main advantages of adopting the new PandoraPay blockchain library into the WebDollar technology:. Delegated Staking.

14 Feb 2022, 11:16

Main advantages of adopting the new PandoraPay blockchain library into the WebDollar technology: 1. Delegated Staking 2. Cold Staking – by delegating to a full node 3. HD wallet 4. Wallet Mnemonics + Better encrypted wallets 5. Multi assets where the fee must be paid in WEBD for every transaction 6. Ecosystem can be built around WebDollar 7. Removing the issue with users staking in multiple pools 8. Web Wallet fixed and improved by working reliable 9. Making the full node work at least 10x faster 10. Process > 100 txs per block 11. RAM issue solved by using constant RAM usage 12. Better terminal GUI 13. New full node API and stable endpoints. API supports REST, RPC and WebSockets 14. Websocket subscriptions and notifications from full nodes 15. Mobile apps support via WebAssembly + WebView 16. Desktop version support via WebAssembly + Electron.js 17. PaymentId reduces confirmations by a factor of 2 to future exchange integration 18. Text messages in transactions 19. Maintained Testnet + Devnet 20. Compatible and easy integration of the scalable Layer1 solution that will be proposed in the thesis. 21. The tipbot can be updated to allow delegated staking of users telegram accounts to increase the security. 22. Reducing the old blockchain by pruning it. 15 and 16, will be enabled once we get the builds in the repository. Proposed ideas to migrate to webd2.0: 1. Running both networks in parallel for some time and introduce a burn address in webd1.0. People could burn their webd1.0 and automatically, every month through a hard fork they will get a 1:1 in webd2.0 a. Block Rewards can not exist on both networks. Only one reward. i. no block reward on webd2.0 - Soft fork required. ii. no block reward on webd2.0 - Hard fork required iii. half block rewards - Hard fork required 2. Suspending transactions on webd1.0 and airdrop to all WEBD addresses 1:1 on webd2.0 – Simple Hard fork required. The easiest integration is 2. as it requires only one hard fork. But 1.a.i. can be done as well, but it will require hard forks every month of webd2.0 for the airdrops for a few months. Known Disadvantages: 1. No early pools. Pools are supported in the code but, it will require at least one month extra work. 2. Exchanges will have to upgrade to the new code-base and network. Next steps: 1. Testnet that will have: a. Same address format b. Snapshot airdrop c. Delegating, Unstaking, Update Delegate and transfer d. Multi assets 2. Webd2.0 main net After we get the webd2.0 testnet then we get rigorous testing. Once the tests are finalized, then we can discuss with some exchanges to integrate the new API. Once we secure integrations of the new API from at least 2 exchanges we can proceed to the main net of webd2.0 chain.