Here's an overview of the new features coming to Compendia: staking updates, databases, apps, and more!
Earlier this week we deployed Compendia network update v2.9.19, which merges ARK Core v2.7.7 changes containing various technical fixes.
But, next to technical fixes and stability improvements, what actual new features are coming to Compendia?
Let's take a look at the short term feature roadmap! 👀
Two updates are coming to staking: redeem delays, and extensions.
💰 Stake Redeeming
When a stake releases, the voting power is halved and you can redeem it at any time. As described in the documentation: when you redeem a stake, it should take two weeks for the staked BIND to be back on your wallet.
In the current network version, the delay logic for redeeming stakes is not yet live. We plan to deploy an update for this before the first stake releases.
This monday, stake redeem delays will be live on testnet. The mainnet version should go live in the week after.
⏰ Stake Extensions
When your stake releases, its power is halved for as long as you don't redeem it. If you want to re-stake your BIND to retain full voting power, you'll currently need to redeem it and then wait for two weeks.
There's also currently no way to upgrade a stake. For example from 3 months to 1 year.
We want to introduce a new transaction type that lets you extend your stake. By extending, you can upgrade existing stakes to longer periods to increase their voting power, and renew stakes so you don't need to wait for two weeks to redeem them first. You can extend a stake at any time, be it active or released.
This new Extend Stake transaction type will be deployed after the "Stake Redeeming" update described above. If you have a 3-month stake that releases before the Extend Stake transaction type, you'll currently still have to redeem it in order to re-stake it.
One of the features that we're most excited about is without a doubt Decentralized Databases: the feature that makes Compendia the Wikipedia of Open Data.
We already have working prototypes in private networks that support the database features.
To start, validators will have the ability to register database schemas (a "category" with a set of rules that all databases in the category should adhere by).
Validators are then able to register databases (powered by IPFS Logs) to a schema. Validators can manage their databases in any way they want. They could let their voters add data, open up data entries to anyone, monetize data, exclusively self-manage, etc.
Apps can easily pull data from as many databases as they want, and even subscribe to real-time data updates.
This feature allows Compendia to be used as an Oracle system to power smart contracts (for example on Ethereum), or to power any other types of apps and websites (such as an app store or decentralized CoinMarketCap alternative).
Any service that processes databases (meaning: almost any application on the internet) can benefit from Compendia databases.
- App store where all apps are maintained by users and validators on Compendia.
- DeFi (Decentralized Finance) app that pulls cryptocurrency data from Compendia into a blockchain or smart contract (not only simple price data, but also DEX volume, volatility, etc.).
- Video streaming app that displays trending videos retrieved from Compendia databases.
- Social blogging app that ranks posts based on the ratings on Compendia databases.
- News site where articles and their reliability are validated by various nodes on Compendia.
- Machine Learning algorithm that's trained by data on Compendia.
- Wiki service that formats and displays encyclopedia-like data of a specific category.
After the staking updates described above are completed, we'll continue our work on the database features and deploy it to testnet as soon as possible.
👛 nOS 2.0
While nOS Network has rebranded to Compendia, and the NOS token has become the BIND coin, nOS still exists!
What was previously known as nOS Client is now just nOS: the multi-crypto wallet with an app store powered exclusively by decentralized databases on Compendia.
The upcoming version of nOS will support multiple cryptocurrencies (instead of only NEO and NEP5 tokens), and have the decentralized app store.
We're working to make nOS the best multi-crypto - and multi-platform - crypto wallet. The next version can be ran as a desktop app, mobile app, and even as a browser app!
nOS will be the MyEtherWallet for all popular cryptocurrencies.
Do you have any questions? Join us on Telegram!