Image: News art by @OfficialCryptos.
Highlights for July:
DCRDEX has added support for a new type of Bitcoin wallet, support for the Electrum SPV wallet has been merged
Politeia is getting close to a new release with legacy proposals imported and a new GUI plugin architecture
After the rejection of a proposal to continue funding GoDCR, the team has announced that they will no longer be working on it
@jy-p mentioned in an interview something he has been working on for Lightning Network, a novel way to use LN which is already feature-complete and should make its public debut within the next two months
The work reported below has the “merged to master” status unless noted otherwise. It means that the work is completed, reviewed, and integrated into the source code that advanced users can build and run, but is not yet available in release binaries for regular users.
dcrd is a full node implementation that powers Decred’s peer-to-peer network around the world.
gofmtin the new Go 1.19. Doing it all at once in a single commit saves future commits from extra diff clutter.
Image: Another day in dcrd development.
dcrwallet is a wallet server used by command-line and graphical wallet apps.
JSON-RPC and command-line use via
signrawtransasctioncommand not seeing the provided private keys for signing P2PKH inputs.
Decrediton is a full-featured desktop wallet app with integrated voting, StakeShuffle mixing, Lightning Network, DEX trading, and more. It runs with or without a full blockchain (SPV mode).
In progress - voting on individual TSpend transactions is being introduced into Decrediton:
Politeia is Decred’s proposal system. It is used to request funding from the Decred treasury.
Backend - tstore:
ticketvoteinventory cache with an improved API, better documentation, and saving data in the tstore database instead of the file system. Similarly, vote summaries cache and runoff vote submissions cache moved from the file system to the tstore provided plugin cache.
ticketvoteplugin’s fsck function that rebuilds all of its caches.
Backend - legacy proposals:
importcommand to the
legacypoliteiatool. It imports the JSON data into the tstore backend that was generated during the execution of the
convertcommand. The two commands (
import) allow to migrate most data from the previous version of Politeia into the current version. Client and server signatures are not imported since they don’t match the converted data. Some Trillian weirdness had to be investigated and addressed with extensive testing and workarounds.
Backend - other changes:
politeaivoter command-line app:
Politeia GUI progress towards the new plugin architecture:
politeiagui-scriptsCLI package. It deduplicates common configuration and provides 7 commands for developing and testing plugins and apps.
cspp is a server for coordinating coin mixes using the CoinShuffle++ protocol. It is non-custodial, i.e. does not hold any funds.
DCRDEX is a non-custodial, privacy-respecting exchange for trustless trading, powered by atomic swaps.
General user-facing changes:
General internal/other changes:
Bitcoin and Bitcoin-like asset support:
Image: DCRDEX showing fiat equivalents to ease the transition from the legacy financial system.
GoDCR is a lightweight desktop GUI wallet with integrated staking, privacy, Politeia voting, consensus voting, and more.
Image: New Staking design in GoDCR.
dcrdata is an explorer for Decred blockchain and off-chain data like Politeia proposals, markets, and more.
dcrweb is the source code for the decred.org website.
In response to a community question “What would you like to see Decred develop next?” @jy-p dropped a teaser: “This one has a nuanced answer. I’ve developed it, and it’s almost ready, and it fills a gap that we’ve had for a very long time, and it involves Lightning Network. I’m not gonna say a whole lot else. You can think about it like this. There’s a whole bunch of problems around us today. There is one of them that makes me absolutely crazy and I’m going to try and address it.”. Whatever it is, the remaining integration and GUI work was roughly estimated as “2 months”.
Congratulations to new contractors granted the Decred Contractor Clearance (DCC) in May-June:
Community stats as of Aug 1 (compared to Jul 1):
In July the new treasury received 9,204 DCR worth $220K at July’s average rate of $23.93. 3,205 DCR was spent to pay contractors, worth $77K at July’s rate, or $90K at June’s billing rate of $28.06.
The treasury spend tx was mined on July 24, it had 20 outputs ranging from 2.8 DCR to 1,184 DCR. The transaction was approved with 4,590 Yes votes and 7 No votes.
There were no new proposals in July. The Decred Magazine proposal was approved in July with approval of 87% and turnout of 28%. Two other proposals were rejected, for GoDCR (20% approval, 57% turnout) and Decred Brazil marketing (19% approval, 57% turnout).
See Politeia Digest issue 53 for more detail on the month’s proposals.
Hashrate: July’s hashrate opened at ~87 Ph/s and closed ~44 Ph/s, bottoming at 28 Ph/s and peaking at 116 Ph/s throughout the month.
Image: Hashrate continues to seek a new equilibrium.
Distribution of 42 Ph/s hashrate reported by the pools on Aug 1: Poolin 36%, ViaBTC 36%, F2Pool 13%, BTC.com 9%, AntPool 6%, CoinMine 1%.
Distribution of 1,000 blocks actually mined by Aug 1: Poolin 42%, ViaBTC 30%, BTC.com 8%, CoinMine 1%, unknown 19%.
Image: Pool hashrate distribution.
Image: Staking participation all-time high.
VSP: On Aug 1, ~7,170 (+20) live tickets were managed by listed vspd servers. Collectively the 18 VSPs managed 17.4% of the ticket pool (+0.1%).
Image: Distribution of tickets managed by VSPs.
Nodes: Node versions captured by Decred Mapper on Aug 9 (127 total, dcrd only): v1.7.1 - 39%, v1.7.2 - 25%, v1.7.0 - 11%, v1.7.0 dev builds - 7%, v1.8.0 dev builds - 4%, v1.6 series - 3%, v1.5 series - 0.7%, v1.4 series - 0.7%.
Image: dcrd node version distribution.
Decred’s Lightning Network has seen 45 nodes (+1), 78 channels (+6) with a total capacity of 36.9 DCR (+0.2), as of Aug 9.
Two new VSPs were listed on decred.org and in Decrediton: vspd.bass.cf by @cryptocoiner69 (0.2% fee) and dcrhive.com by @kozel (0.7% fee). @kozel plans to use the earned VSP fees for providing liquidity for Decred’s Lightning Network - an interesting new incentive to consider when selecting a VSP.
Binance has reduced required DCR confirmations from 20 back to 6 according to @jz.
BisonPool has officially launched. BisonPool is a new kind of proof-of-stake pool which enables all Decred holders to earn PoS rewards, even if they cannot afford a whole ticket on their own. To make this possible, BisonPool pools users’ DCR to purchase tickets. The ticket rewards are split among participants based on the amount of DCR they were able to provide. See the announcement on Reddit.
Users have no control over voting preferences for their tickets on BisonPool.
It should be noted that this is a custodial service, meaning BisonPool has control of user’s funds. There is a risk that your Decred can be stolen if you choose to use this service. The identity of whoever is running BisonPool is unknown to the community. Remember, not your keys, not your coins.
Warning: the authors of the Decred Journal have no idea about the trustworthiness of any of the services above. Please do your own research before trusting your personal information or assets to any entity.
Join our #ecosystem chat to follow Decred ecosystem updates.
Monde PR’s achievements:
Secured the following news articles:
Decred Magazine update:
In July we published 10 new articles and added all previous “Decred Assembly” content to the archive. We have a new Official Contributor - Tivra.
DM now has 297 posts, 50 newsletter subscribers, 6 active social media campaigns. I’m not sure how to show the full social media engagement, but according to my stats over the last 30 days there have been 48 new posts, 309 clicks on posts, 375 likes, 56 retweets, content was posted to 887 followers across all accounts. [@phoenixgreen]
DM has its own Twitter now, follow @decredmagazine to get new stories and announcements.
Decred Magazine articles:
Art and fun:
Selected Reddit posts:
In July DCR was trading between USD 20.86-29.10 / BTC 0.00104-0.00134. The average daily rate was $23.93.
Image: DCRDEX monthly volume in USD.
The group of people who refer to themselves as “Bitcoin Maximalists” is fragmenting and shrinking, and July saw some significant defections and ruptures. Nic Carter has for many years presented a pro-Bitcoin narrative in the media consummately, earning the respect of many in the community - but when the latest investment of his fund Castle Island Ventures was set upon by Bitcoin Maximalists on Twitter, Nic went on a protracted offensive against them, calling out that group’s mis-steps and failings and distancing himself from them. Later in the month Samson Mow, considered by many as an architect of the maximalist position, objected to a comment from long time Bitcoin developer Matt Carralo and tweeted that people should remember Matt as a person who introduced an inflation bug to Bitcoin - a controversial sentiment which drew criticism from many other Bitcoin developers, pointing out that dev work undergoes review by a whole team of people and bringing it up to disparage Matt for making comments is the kind of toxic behavior that drives people away from Bitcoin. One of the lead Bitcoin Core maintainers announced shortly afterwards that they were stepping down from the role.
Tesla sold 75% of its BTC holdings in the second quarter of 2022, worth $936M at time of sale. Microstrategy, the other public company to go big on buying BTC, held on to its Bitcoin but took an “impairment charge” of $918M. Michael Saylor, noted Bitcoin Maximalist meme-crafter, stepped down as CEO to “focus on buying bitcoin”, but remains in control of a majority of the company’s voting shares and as serving Chairman of the Board.
The details of 1 billion Chinese residents have been stolen and made available on a dark web hacker forum. Binance CEO CZ was one of the first to tweet about it, stating that Binance threat security checks would be increased for the affected region, and speculating that the breach occurred because a developer leaked their keys in a blog post. This is a one more proof that the best way to protect user data is to not collect it in the first place.
The Solana Foundation is opening an “embassy” in New York City - an Apple store type unit where people will be able to look at Solana NFTs and check out the forthcoming Solana phone.
That’s all for July. Share your updates for the next issue in our #journal chat room.
This is issue 49 of Decred Journal. Index of all issues, mirrors, and translations is available here.
Most information from third parties is relayed directly from the source after a minimal sanity check. The authors of the Decred Journal cannot verify all claims. Please beware of scams and do your own research.
Credits (alphabetical order):