First milestone in sight: Forging Rewards Activation
We are happy to announce that the imminent completion of our first milestone named “Mainchain stabilisation” is in sight. The most important achievement for our user base this year comes with the subsequent activation of community forging. With that, we will also enable forging rewards so that delegates are able to finance community projects, and foster a growing ecosystem.
This marks a historic turning point for the Lisk project, going forward we can now put the majority of our efforts into our sidechain technology and the Lisk App SDK.
Lisk is approaching forging rewards activation block 1,451,520 which is expected to be reached early December. Following the fixed rules of our code we will start with 5 LSK per block, being reduced by 1 LSK approximately every year.
Lisk utilises the Delegated Proof of Stake consensus algorithm with highly efficient delegate nodes. During a dynamic, decentralised and democratic voting process 101 delegates are elected which are generating new blocks whereby they earn forging rewards.
In preparation for the roll out of the rewards, we released Lisk v0.5.0 to the testnet with improved stabilisation, a focus on increasing block propagation efficiency and reliability, rewriting of the peer to peer transport layer, expanded test coverage, strengthened schema validations for better data integrity, and various mitigations against multiple edge-case fork occurrences.
We are now continuing our sprint towards Lisk v0.6.0 to be completed at the end of this month. The forthcoming version brings a complete rewrite of all database logic, allowing for faster block processing and atomicity. It will also add further intelligence to the unconfirmed transaction memory pool, which is designed to open the way for larger block sizes.