Ideas and thoughts about the GOSSIP 2.0 Blockchain

General discussion only about the GOSSIP project

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GOSSIP-TEAM
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Tue Jan 01, 2019 8:16 pm

Dear comminity,

as you know, we are planning a GOSSIP 2.0 blockchain. Here you will find the ideas and thoughts about it. Please reply and tell your own pro's and con's and correct me if I'm wrong.

Our goal: To have a stable blockchain for the next years with a good reward/roi/inflation ratio and features to stand out from others.

1. Situation

Pluses

- trading volume is stable between 700$-900$ per day
- blockchain is running very stable without problems
- masternode count is steadily increasing after collateral changes

Minuses

- inflation is steadily increasing (rewards are higher and higher with the next collateral)
- with a high inflation the price per coin can't rise)
- community governance voting is complicated and not transparent
- collateral changes in too short distances
- everything is currently being financed by private funds from the dev team
- more than 120M GOSS coins in supply
- no integrated rewards to fund the development

2. Ideas for improvement

Soloution #1

- implement a wallet update in the existing wallet code, change the block rewards, adjust the collateral
- this wallet update is mandatory, all wallets (Windows, Linux, masternodes) must be updated

Pluses

- the dev team can quickly implement this changes
- inflation will be stopped
- collateral change structure will be changed

Minuses

- to change the base code of the blockchain with a newer PIVX code is very hard work and will take several months to finish and release
- the community governance voting function is not improved
- the maximum coin supply is the same
- to work with the old code is not the soloution for the future


Soloution #2

- implement a wallet update in with a newer wallet code, change the block rewards, adjust the collateral
- implement new features: The masternode collateral will increase with increasing number of nodes and active nodes will be not affected! Also the reward per day will be a stable amount of coins even when the number of masternodes increasing. To control the inflation we will rise the collateral every 250 nodes. You will have from the beginning your x coins per day, even when the number of masternodes are 10,000!
- implement a governance voting function that you can vote directly from your wallet without a command line input in the debug console and the proposals are linked to the forum that you can read it in a "human way"
- Swap the coins (mandatory) from the existing blockchain to the new GOSSIP 2.0 blockchain with a swap ratio from 60:1 (60 old GOSS = 1 new GOSS)
- all masternode owners will have the same amount of masternodes like in the existing blockchain (when you own now 5 masternodes, you will have 5 masternodes in the GOSSIP 2.0 blockchain too)
- integrated reward for development funds
- people can swap their coins during 6 months after the update
- this wallet update is mandatory, all wallets (Windows, Linux, masternodes) must be updated
- to increase the collateral will be the last step and it will be used when it's really essential
- to create an additional amount of premine that we have the option to offer coin swaps for other projects

Pluses

- inflation will be stopped
- collateral change structure will be changed
- the maximum supply of coins will be drastically reduced
- with an amount of premine, the dev team have funds to list GOSSIP on another exchange an start immediately marketing activities
- the governance voting function is easy to use for every masternode holder
- trough a lower coin supply and rewards we have the oppurtunity that the price will rise to a better level per coin

Minuses

- to implement this features we need little bit time and the new code must be tested very well. For the tests, we will need the community for help

3. Technical details GOSSIP 2.0 Blockchain
  • Swap ratio: ~ 60:1
  • PoS/MN without PoW
  • Premine: ~ 2,2M for the swap + not yet fixed amount yet to have the pssibility to swap other projects to GOSSIP
  • Block time: 60 seconds
  • Block reward: dynamically from 1 GOSS till 200 GOS in different
  • MN/PoS ratio: 70% MN / 20% PoS
  • Masternode collateral: dynamically increasing in the high of masternodes
  • Masternode collateral at chain start: ~ 2,000 GOSS
  • Governance proposal fee: 250 GOSS
  • Development funds: 10% from the block rewards
  • Coin maturity: 59 blocks
  • Minimal coin age for staking: 3 hours
The ROI is a not important parameter. For our new design, we decided to look on the same amount of coins per day in every high of masternodes. For example, we have 1,000 nodes in the network, you will receive 10 coins per day. If we will have 10,000 nodes in the network, you will receive 10 coins per day. To arrange this, the rewards must be increase in amount of masternodes. To dam the inflation, the collateral amount will increse in the high of masternodes.

Like as you know as an "old" GOSSIP Coin member, to increase the collateral is the easiest way, but to reduce the collateral is nearly impossible. And to have an exorbitant collateral with less rewards it's not the goal. It must be little bit in a matching range. :)

When the swap will start: When we have a timeline we will announce it with enough time before the start. Now we are working on the code, after that must be tests.
Realistic will be after block 400k. We want to test the new code with the community.
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Tue Jan 01, 2019 8:53 pm

Here is a sample to compare blockchain parameters from 2 very well working and active projects.
Don't have the focus on the monthly income, the volume is also perfect from both. Check out the masternode parameters.
Decide yourself which paramers looks better.

LINDA Project and MIDAS Project
McMoe
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Wed Jan 02, 2019 2:38 pm

I really like solution #2
I think with this solution most of gossips Problems will be solved in a more than acceptable time frame.
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