As our community now has grown to a few hundred members, the dev team has begun the process of how we can fulfill the project’s vision and make a real difference as a viable option and competitor to other big crypto projects. The dev team is planning on making an update to the project through a hard fork, that would change the mining difficulty target timespan for a smoother block discovery process when mining.
During this update, we also see a possibility of changing block time to improve upon the project’s long-term foundation. This is something the community should vote upon, please see #polls on the Stohn Discord. Changing block time would force changing block reward in order for it to stay proportional, as we don’t want to change the economics of the project for everyone that is mining and has invested in SOH.
Here are the proposed options:
Update Block time to: 1 min
Update Block reward to: 20 Stohn
Update Block time to: 2.5 min
Update Block reward to: 50 Stohn
Not changing the block time
Block time would stay at: 5 min
Block reward would stay at: 100 Stohn
Changing block time would make StohnCoin as fast as the fastest Scrypt coins such as Dogecoin, with the underlying technology of Bitcoin, which would enable L2 solutions such as Lightning Network and DeFi for great future scalability and very high TPS.
As the update may take a few days to rigorously test, a planned date for the update would be in around 7 days.
The current version would work normally up until the point the update is introduced, every wallet and node would need to be updated to the latest version after that point. All current wallet holdings and previous transactions up to that point would remain the same after the update.
We believe that this change will not only improve the reliability of Stohn’s blockchain but also make it more attractive to potential users and investors. We appreciate your input and support as we work to make Stohn an even better blockchain project.
Thanks to everyone that is with us this early in development, the future is bright!
the StohnCoin Team
Link to Discord: https://discord.com/invite/BhjA4kXNUc