LikeCoin chain "Genesis Proposal" Passed
Relaxing validator requirements to transform LikeCoin chain to a permissionless, BPoS mechanism
This is a newsletter on LikeCoin, a decentralized protocol for content monetization, attribution, and distribution; and Republic of Liker Land, a DAO of content creators.
Proposal Results
In mid-Feb, Matters News, one of the validators of LikeCoin chain, has raised the very first proposal to transform LikeCoin chain to a more open, permissionless, Bonded Proof of Stake mechanism (BPoS). The proposal is passed today with 78.63% of the online voting power voted. 5 out of 7 the current LikeCoin chain validators voted ‘Yes’.
What is happening next?
There has been a lot of interest in the community to participate in the validation of LikeCoin chain. Now that the proposal was passed and technically deployed right after, validator node has become permissionless. By the time of this writing, the eighth validator has already onboarded. If you are interested to set up a validator node or learn more about LikeCoin chain in general, please check out our documentation.
Expected outcomes:
LikeCoin chain will be more decentralized, more open.
Competition among validators will emerge. There may be more than 10 parties interested in becoming a validator of LikeCoin chain, while only the top 10 with most delegated LikeCoin will be active and may propose blocks and receive rewards.
Validators may adjust their commission according to their own strategy to differentiate themselves.
Likers shall have more choices in picking their validators.
The Republic of Liker Land as of today
7,992 LikeCoin wallets with tokens, generated
137, 213 transactions; registered
1,200+ Civic Likers, which is 2.14% of all
54,358 Likers, who rewarded
26,777,000 LikeCoin to
188,603 contents by
6,424 creators on
800+ media outlets
Want to get involved?
Teach & Learn Session: Validator Node Setup Tutorial
Time: 2020.03.18, Wednesday, 12:15 PM HKT at https://zoom.us/j/860776614
Weekly Updates Meeting
Time: 2020.03.23, Monday, 11:30 AM HKT at https://zoom.us/j/860776614