Thank you for being patient with us while discussions took place internally.
While the community’s opinions and reasons were considered heavily while discussing among the Bulwark team, we have decided what we believe to be the best course of action for Bulwark in regards to the long term health of the project.
The decision is that we will be pushing PoS up to block 182700 (Approximately June 21, 2018).
Proof-of-Work will remain as is until the new PoS activation time passes.
This entire process will NOT affect masternodes whatsoever.
Our reasoning is as follows:
- PoW algo would have not have been the only updated included. This would have also included a difficulty algorithm swap, which would take considerably more time to properly test before being able to push a release to implement. Considering the amount of time left in PoW as is, we felt this would be wasted time that could be better spent actively developing and continuing to work on our Year One road map.
- There is an extremely high probability that any algorithm we would have switched to would have been added by Nicehash very quickly. Considering an update like this would set a target block 2-4 weeks out from release before activating, this likelihood only grew the more we considered it. Having an event like this occur would effectively negate the entire reasoning for performing the work, testing, and release involved before it even got off the ground.
- PoS can be moved up in the code and release significantly easier than a PoW Algorithm & Difficulty Algorithm switch.
- All past, present, and future implementations of code would need to be reconfigured to account for the new algorithm and hard fork. This brought up a number of concerns and issues that would require significantly more time to implement properly for every development the Bulwark Team pushes out.
- All PoW related issues will no longer be a concern, allowing the team to fully dedicate our time to continuing to develop our road map and beyond without having to effectively stop development for weeks at a time to deal with patching issues and fixing problems that are only present in PoW.
- While we understand one of the main concerns is that miners made the Bulwark community and growth would stop should we decide to switch to PoS at the 6 months, we would respectfully disagree. While miners certainly helped us build the amazing community Bulwark has, we fully believe continued development along with our dedicated team and supportive community will allow us to continue growing at the same pace, if not more than we have to date.
- We would also like to take this opportunity to specify that while PoS is being pushed up, we are going to be leaving the governance/budget system disabled until the originally specified date, block 345600, or end of year one.
Some of you may be happy with this decision, others may be upset with it. We fully understand your frustrations and sincerely apologize. Our goal is to provide the healthiest and most efficient route between where we currently are and where we want to be. Thank you again for all your understanding and support and we look forward to continue providing work we’re proud of for the community that made us what we’ve become.