PHANTOM – Post Launch Updates

After a few days of the mainnet being live, the PHANTOM team has made observations from the protocol and would like to give some updates in regards to the topics below.

Delegates

Currently we are seeing people register as delegates and get voted into the top 51, but are not running a forging node. This does nothing for yourself or the network whatsoever and you are unnecessarily disrupting the network.  By being in the top 51, it does not entitle you to block rewards to forge(mine) blocks in the ledger. You MUST run a forging node or the network will skip you and it makes it pointless for you and the ones voting for you to secure the network. Please read this article: https://docs.phantom.org/cookbook/node/setup.html or ask the community for help on running a forging node if you are a delegate. Users can run relay nodes as well if they want to contribute in the networks health and overall growth.

Voting

We have a comprehensive guide for voting that may be found here: https://docs.phantom.org/cookbook/usage-guides/how-to-vote-in-the-phantom-desktop-wallet.html Please keep in mind that the each wallet can only vote ONCE. That means if I have 100,000 XPH in my wallet, when I vote for the delegate that I want to secure the network, all my 100,000 XPH gets weighted into the vote. If you want to vote for more than one delegate you need to move your XPH to other wallets as each wallet can only vote once and all of the XPH in that wallet get weighted into the vote.

Dynamic Fees

We are planning to implement all final fees and dynamic transaction fees on block 216,000. Within the next few days we will recommend all nodes to do an update which they can do directly from the core-commander. This will activate dynamic fees and other necessary fees for future implementations on block 216,000. Block Rewards are still scheduled to go live on block 300,000. This update will require nodes to re-enter their delegate secrets into their nodes as it will update all config folders.

Mobile & Desktop Wallets

There are some users experiencing issues with the Desktop and Mobile Wallets. For the desktop wallets its always recommended to restart the wallet when your computer goes idle so it may reconnect to the network properly. For mobile wallets, some users are experiencing different address formats. We are working on both Mobile and Desktop wallets to make improvements and will advise the community when new builds are available. For most the Desktop Wallet has been working, some experience issues in regards to Linux builds, which we are actively working on. We have fixed the timestamp and voting link URL for the Desktop Wallets and recommend downloading the new wallet from here: https://github.com/PhantomChain/desktop-wallet/releases

Next Update – Neptune

After block 300,000 the network will be out of its beta stage and into full capacity. All activities, changes, protocol upgrades, etc will be determined by the Delegates the network votes in and based on consensus. The next major update of the PHANTOM protocol will be called Neptune. Neptune will enable the protocol to have a Smart Contract platform that will enable a Virtual Machine, the PHANTOM GHOST privacy protocol for private sends, and other PIP (Phantom Improvement Proposals) that are voted in by the community. This update is scheduled to be completed by Q3/Q4 2019. This update will be a hard fork and require consensus by the community and delegates.

Exchanges

We have been getting requests for exchanges and information circling this topic. The PHANTOM team has no say in this matter. We will not seek, promise, or engage secondary listings of XPH. The PHANTOM team is comprised of open-source developers with the sole focus and intention of improving privacy on the blockchain, specifically the PHANTOM network. This is a community based project and if members of the community want secondary markets, it’s best to pool your efforts together and try to engage this to happen, but, again, we are not recommending this from the development team. This will be from the communities free will. If we receive communication from exchanges planning on supporting the protocol we will share it with the community. As of today we have received confirmation that Bit-Z will be enabling the PHANTOM protocol and listing PHANTOMS with an XPH/BTC pair towards the end of this month.