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Sporks are a feature that offers a way of implementing upgrades or changes to a blockchain network without requiring a hard or soft fork. Sporks allow the network to switch between the old and new rules at a specific block height or time, depending on the consensus of the nodes.
Sporks are different from forks, which are permanent changes to the network that require all nodes to upgrade or risk being left behind on an incompatible chain. Sporks are also different from soft forks, which are backward-compatible changes that do not require nodes to upgrade but may reduce their functionality.
Sporks work by allowing cryptocurrency developers to change some network parameters without requiring all nodes to upgrade their software. Sporks are literally switches that the developers can turn on or off using a special private key. Sporks can activate new features, fix bugs, or adjust network settings.
They allow for faster and smoother network upgrades without disrupting the network's normal operations.
They give the developers more flexibility and control over the network parameters and features, allowing them to adjust them according to the changing needs and demands of the users.
They reduce the risk of network splits or chain reorganizations when nodes disagree on the validity of blocks or transactions.
They enhance the security and stability of the network by preventing malicious actors from exploiting bugs or vulnerabilities in the old code.
They increase the adoption and innovation of the network by enabling new features and functionalities that may attract more users and developers.
Dash is a digital currency that uses sporks to activate new features such as InstantSend and PrivateSend without disrupting the network.
Zcash is a privacy-focused cryptocurrency that uses sporks to control the activation of network upgrades such as Sapling and Heartwood.
PIVX is a fork of Dash that also uses sporks to implement changes and improvements to the network. PIVX stands for Protected Instant Verified Transactions and aims to provide fast, secure, and private transactions.
DSW is a common platform used by DECENOMY and is a network of projects that share the same wallet codebase and blockchain infrastructure. DSW stands for Decenomy Standard Wallet and enables cross-chain interoperability and governance among the DECENOMY projects.
Detailed information about the Masternode concept and how it works
A Masternode (MN for short) is a full node in a blockchain network that helps secure the network by consensus and improves the blockchain's functionality.
It operates on a dedicated server with a static IP address while ensuring a high level of availability and reliability. Furthermore, it is only eligible if it meets the required amount of secured collateral.
The MN owner is compensated for contributing to the network's capabilities with a portion of the block reward.
A Masternode enhances the functionality and security of a blockchain network. They validate and store blocks of transactions, helping to maintain the integrity of the network's ledger and prevent malicious activities like double spending, thus helping to ensure the security and immutability of blockchain data. Masternodes can also help improve the scalability and stability of the blockchain network. By offloading certain tasks and responsibilities from regular nodes, Masternodes help reduce the network load, improve performance, and ensure efficient operation even as the network grows.
Operating a masternode requires a collateral amount of the cryptocurrency to be locked in a dedicated wallet. This collateral ensures that the Masternode owner has a financial stake in the network and discourages malicious behavior.
The amount of coins in the collateral is always stipulated by the blockchain and is a unique value that must be exactly as requested. The value must be exact, without any deviation, and it must be done in a single transaction. A frequently asked question is whether the collateral allocated in a Masternode is permanently lost. The answer is NO. When you run a Masternode, the coins remain in your wallet. If you decide to stop running the Masternode, the coins become "unlocked" and can be used again without restrictions.
To reward the Masternode owner for playing such an important role in the network, a percentage of the block reward is delivered directly to the wallet from which the masternode was created (i.e. the wallet with the collateral). When considering running a Masternode as an investment allocation, things like Return on Investment (ROI) are important concepts to understand. ROI is the percentage of initial investment that can be expected to earn back annually. Calculating ROI, in this case, involves several factors, such as the Masternode's collateral, the block reward, and the current number of Masternodes on the network. In general, as more Masternodes participate, the ROI decreases. On the other hand, a decrease in the number of Masternodes literally means a higher ROI. It can be calculated as follows: ROI = (((MN reward per block x number of blocks in a year) / number of MN currently on the network)/ collateral amount)x100 Information on the above points is always provided by the project.
With the help of our unique Masternode Multinode Script, a task that often requires a certain level of technical knowledge has been simplified. This makes it possible for anyone to seamlessly deploy a masternode.
A tutorial on how to easily install and deploy a Masternode using this DECENOMY Masternode Multinode Script can also be found on this website: Masternode Multinode easily deploys
This guide was made to provide complete information to ensure the safety of users and their wallets.
First, let's talk about security regarding Discord.
On Discord the DECENOMY team members will never initiate a private conversation.
If someone contacts you privately offering assistance, it's best to ignore the conversation and report the user in the channel #report-scammers-here.
If someone sends you links with offers and promotions in a private message, please refrain from clicking them, as they may lead to deceptive offers or potential scams.
Always report users who invite misleading advertisements in the channel #report-scammers-here.
Never open any files received via private messages. In most cases, individuals who send files through private messages may be attempting to send malware or other software that could potentially grant unauthorized access to your funds.
We strongly encourage you to use only official links, which you can always find on our Discord platform.
For your safety, we always suggest you check the ID of the DECENOMY team members.
In Discord you can see the team ID in the dedicated channel #team-channel.
To check the ID of the user you are talking to, you can right-click on their username and then click on "copy ID".
By doing this you can verify that it is the same as the ID in the team channel. (You might need to enable developer mode in Discord settings).
The DECENOMY team recommends that you do not share sensitive data such as private keys, passwords, and IP addresses in public.
Sharing a private key means giving access to one's own coins.
Never trade on platforms such as Discord, instead, always use trusted Exchanges.
Trading coins privately carries significant risks, as the other party may not fulfill their payment, potentially resulting in a scam.
Whenever possible start your software as a standard user and not as an administrator or root. This helps prevent most possible attack vectors.
Make sure you have a good antivirus and anti-malware installed on your PC.
Do not allow any PC control or screen sharing via anyDesk, TeamViewer, or remote desktop. Not adhering to this may allow a potential hacker to steal your funds.
If you need help, always ask for it in the support channels.
When you make a big transaction, or when you send a transaction to an address saved in your address book, try to send a controlled amount first. e.g. 10 SAPP followed by 9990 SAPP, instead of sending 10k SAPP at a goal.
Do not keep passwords in a text file on your desktop.
Write them on paper or store them on your USB stick.
Secure the wallet with a password, and remember that the wallet.dat is the key to your money.
You need to have a few copies of that, each in different places.
Never share the result of commands such as
dumpwallet
dumpprivkey
backupwallet
This guarantees that bad actors will have access to your funds and defraud you.
Always make sure you protect your accounts with two-factor authentication.
Always use a different password for each website you register.
By following these simple rules you can be sure that your funds are safe.
Blockchain definition and how DECENOMY uses this technology
A blockchain is a technology revolutionizing how we store and manage digital information. Initially introduced alongside Bitcoin, the blockchain concept has since evolved beyond financial transactions.
Imagine a record book that isn't under the control of a single authority but is instead distributed across multiple computers or nodes. Each transaction forms a block, and these blocks are linked in a chain, creating the blockchain. This system's extraordinary capabilities lie in how a cryptographic hash links each block to the previous one. This mechanism ensures that once a block is added to the chain and verified, altering or manipulating the information becomes virtually impossible.
The transparency and integrity add a whole new level of trust to the system. Blockchain technology also eliminates the need for intermediaries, such as relying on central institutions. This is because the blockchain operates on a network where every participant has a copy of the entire blockchain. The decentralized nature opens new possibilities for direct and trustless interactions between participants. In addition to cryptocurrencies, blockchain technology has found applications in various other sectors, including supply chain management, healthcare, voting systems, intellectual property, and many more For example, the integration of other software such as smart contracts, which are emerging with the blockchain bubble, will allow for self-executing agreements where pre-defined rules are encoded within the blockchain itself.
DECENOMY is a project network with a common wallet codebase and blockchain infrastructure, facilitating cross-chain interoperability and governance among various DECENOMY projects. It employs a distinctive open-source cryptocurrency platform known as DSW, an acronym for Decenomy Standard Wallet. DSW serves as the core blockchain development for the entire infrastructure. DSW forked the PIVX code in 2021 to inherit blockchain features like Proof-of-Stake (POS) and Masternodes, which PIVX had originally inherited by forking DASH. As the main source of technology, DASH is also a Bitcoin fork code, thus providing all the main Bitcoin functionality and technology to the DSW blockchain code. Since then the DSW code has been developed independently from these forks, and you can track its progress in its GitHub Repository at https://github.com/decenomy/DSW Some unique developments, new features added, and upcoming ones are all documented on this website in the chapter Blockchain Development
In this guide, we will explain various useful VaultWatch features and provide instructions on how to utilize them.
Let's go to the web page https://vaultwatch.eu/
To locate your desired coin, simply enter its name into the search bar. For the purpose of this tutorial, we will use SAPP as our demonstration coin.
Click on the coin's name to go to the next page
Once this is done, we can see the basic information of the coin (e.g. links and some technical details) as shown in the image below:
We will focus on staking and show you the main tools offered by VaultWatch.
Profit Calculator
Staking Information
Best Staking Addresses
Profit Calculator
The profit calculator provides an estimate of the rewards you can anticipate based on a specified amount of coins (this statistic is not 100% guaranteed as the blockchain is a dynamic system in which the factors change constantly).
As shown in the image below, we have input a value of 30 000 SAPP:
Stake, not compounding: expected returns on a daily, weekly, monthly, and annual basis without restaking our rewards.
Stake, compounding: expected returns on a daily, weekly, monthly, and annual basis restaking our rewards.
In masternode (collateral 200000): Comparison between our staking rewards and the rewards of a masternode.
In shared masternode (fee 6%): Comparison between our staking rewards and an investment in a shared masternode.
At the time of writing this guide, a staking reward is equivalent to 280 SAPP, while the daily rewards table is approximately 66 SAPP.
This means an average of about 0.24 rewards per day.
Staking Information
Average input size: The average amount of coins per input in the network
Average input weight: The average age of inputs
The age of the inputs for the DECENOMY coins is not a factor that affects the probability of receiving a reward. The only determining factor is the size of an input.
As we have seen in the guide Staking Best Practices it can be useful to change the value of setstakesplitthreshold to avoid having a too large quantity of coins in an immature state (100 confirmations).
Apparently, all our coins, after receiving the first reward, will not be available for staking for about 100 minutes.
Best Staking Addresses
In this last section, we see the same statistics as before, but referring to the individual addresses of the largest active stakers on the network.
We can therefore use an average input size value as a reference value for the setstakesplitthreshold in our wallet, from the debug console.
Alternatively, you can adjust the stake split threshold value from your wallet's interface. Navigate to 'Settings,' then 'Options,' and select 'Wallet.'
Within the wallet section, you will find the option to manually input the desired value. Remember to save your changes once you are finished.
After a while we will see that the coins in an immature state will be about 3400 SAPP, leaving the rest of the balance free.
As seen in the image below, only a small portion of our coins are immature. This allows us the potential for a slight increase in rewards.
