Community Fund Testnet & Security Updates

Craig MacGregorNav Coin Updates0 Comments

Over the last few days we have been working tirelessly with Bittrex to resolve a network issue which they kindly alerted us to and have been assisting us to fix. To resolve the issue and get the exchanges back open for deposits and withdrawals we are required to release a new version of NavCoin Core (4.1.0) and we ask that everyone please update as soon as possible.

https://navcoin.org/downloads/#nav-coin-core  

New Features In This Release

Releasing this new wallet version means that you will be getting early access to some features we had scheduled for release next year as we bump up to our next minor version.

Community Fund Enabled on the Testnet

The community fund which we are voting to implement has been implemented to the NavCoin testnet for everyone to try. The testnet stake rewards are reduced to 4% and there is 0.25 NAV per block generated by the staker and sent to the Community Fund Smart Contract.

You can help us to test the proposal, voting and redemption smart contract features we have proposed to implement on the mainnet. We have created a new genesis block for the testnet, so if you’ve been using it previously, please re-sync once you’ve downloaded the 4.1.0 wallet.

New Majority Version Alert

We have added a feature which allows the wallet to track the version number of the other wallets on the network. If your wallet detects a majority of wallets to be on a greater version number than its own version number, it will alert you that a new update is available.

For the full list of updates included in the wallet, please see the GitHub release notes:

https://github.com/NAVCoin/navcoin-core/releases/tag/4.1.0

Security Updates

Aside from the early access features, the main priority for this release is to secure the network. Bittrex alerted us to some reported instability of the blockchain they were seeing and after some thorough investigation and we were able to find the cause and we have included a preventative security patch in this latest version of the wallet.

The main changes have been to make improvements to the script check methods and we have also added the nTime & strDzeel parameters to the signature hash. This security patch will prevent the recently seen network instabilities moving forward and resolve the issues Bittrex have reported. It will also make these changes compatible with NavPay which we are still on schedule to release later this month.

Making these security improvements to the script check is a change to the consensus mechanism and requires a majority consensus to be accepted on the network. We have decided the best course of action is to implement the security patch as a mandatory hard fork instead of waiting for a majority consensus to be organically achieved.

What’s happening next

The network will reject blocks and transactions from versions older than 4.1.0 from 11 December 2017 @ 11:00am GMT.

The network will take some time to stabilize after the fork occurs, so we suggest not sending any NAV for up to 48 hours after the hard fork time. We will post a message to the community once we see the network is stable and we are starting to bring the exchanges back online for deposits and withdrawals.

To help stabilize the network, please update to the new client before the fork time and stake your coins to mint blocks.

Install Instructions

To have a smooth transition to the new version, please download 4.1.0 and install it before the hard fork time is reached. If you’re using the GUI you will be prompted to allow the wallet to rebuild the database. If you’re running the daemon, you will need to run it with the -reindex flag before you will be able to use the new daemon.

If you’re using the NavPi there are some extra steps to get up and running with the new version.

  1. From the control panel page, click the `update` button and update the UI from GitHub.
  2. Run the updater script located at `/home/stakebox/UI/libs/updater.sh` or wait for the auto updater to run if you are on version 1.0.3 or later.
  3. When you see the notice on the homepage of your NavPi stating that a new update has been installed, click the button to reboot the device.
  4. When your device has rebooted, go back to the control page and click the `Reindex` button and reindex the blockchain.

Note that in some instances, it will be unable to reindex the blockchain and the wallet will, unfortunately, be required to resync the blockchain which can take some time.

If you need to resync the blockchain, you can find a bootstrap to speed the process up here:

https://build.nav.community/bootstrap

We want to apologize to our community for any inconveniences caused by this recent service outage. We want to assure you all that a stronger and more secure Nav Coin Blockchain has emerged from the discovery of this potential issue by Bittrex.

And while we would have liked to have communicated more over the last few days, for the sake of network security, we had to hold off until a solution had been figured out and a fix released.

We also want to thank Bittrex for alerting us to this matter and working with us to find and resolve the issue. They have been very supportive and helpful during this time which is nothing short of amazing considering how busy they must be. We are very grateful for their assistance and for your understanding.

TL/DR:

  • To improve the network, we will be performing a hard fork on 11 December 2017 @ 11:00am GMT.
  • You can now download the latest version of the wallet from the website, or directly from our GitHub
  • To ensure a smooth transition, please update immediately and hold off from sending transactions for up to 48 hours after the hard fork.
  • Exchanges will be back online for deposits and withdrawals in the next couple of days.

Best,

Craig.

Leave a Reply

Your email address will not be published. Required fields are marked *