Hive & H-E Witness Update chrono.witness
First Block 2021-12-06 03:27:30 - 50 days ago first block was witnessed, on the Hive Blockchain.
I booted up a Witness Server over on hive using account @chrono.witness.. I figured since I am already running a Hive-Engine Server, "currently a top 10" why not jump on and help out Hive before its massive explosion of adoption and the network gets its limits tested.
Recap of being a Hive Witness, as with a lot of Block Producers, I have been spending a lot of time this month hustling and building behind the scenes, getting ready for some bright news.
Recap what a witness does for Hive, a must read!
On the Hive blockchain, witnesses serve a role of validating signatures and timestamping transactions by including them in blocks. A block is any group of transactions (posts, votes, transfers, etc.) which update the state of the database. Each time a witness produces a block, they are paid for their service. If a witness fails to produce a block, then they are not paid, and may even be voted out.
Witnesses/Block Producers are generally expected to manage a reliable block producing node, implement a failover system, maintain a public seed node, tune blockchain operating parameters, but since after the MIRA update Hive has been steady and with the many updates and continuing building of the chain makes it month by month even more reliable.
As a Hive user who wants to see this platform continue to grow and flourish, we all have 30 votes to cast for any Hive Witness of our choice and I will say this is the most important 30 votes you will ever cast on this platform.
Chrono.witness Hive Witness
I am chrono, you mostly already "know" that I run my Project Utopis with a the help of some cool very talented Devs. Sure I hustle and grind out on the street and somewhat on crypto, they are the ones that make it look presentable and usable.
Now, since I am out and about bringing in those profits and I can't be there on time if something fails.. so why not Hire an expert and on time problem solvers than "Hive Devs". Transparency Just like My Hive-Engine Witness Server that is Maintained bala41288.
I have hired bala41288 to do the maintenance of the tech. You know I would love to and I know its not that much work* but I'd rather delegate that work to the pros, while I hustle on the black top.
Configuration of the witness server
The witness is on a VPS from @privex with the following stats
CPU: 4 Core
RAM: 16 GB
SSD: 500 GB
OS: Ubuntu 18.04
This minimal setup is for $50/month, gives us the bare bones to run a good machine, under this load, once we get a heavier traffic load than upgrading it will be a to do for which I will be ready. Thus bringing me to this post, and how devs and server costs add up and how much the network is losing the opportunity by not passing its data through my server. All this cost a couple bucks. I would for sure like to bump it up and make it even beefier.
HBD %
Current HBD interest is set at 12% which
We are getting there closer and closer to DEFI status and hopefully have HBD stable.. With a true HBD peg on Hive, making and catching profits would be magical.. sad news is HBD is not a stable coin, so it is sporadic like a crazy ex at crazy times.. like this past couple of days Hive pamp but HBD drop...
Yes, If HBD was somehow able to stay put like Tether or and other stable coin for that matter sure we see .5% on tether but it always comes back to $1 as where HBD it loses 7% and stays that way for days even weeks. (The reason it is not stable*, is due to the fact there are not enough HBD out in the open).. thus why we are earning 12% earning HBD essentially printing more HBD.
Hive-Engine Witness Dilemma
8pm Eastern 1/25/22
I am ready for the update on Fees for our type of defi pools, we call them Diesel Pools or at least that is what the creators call them. Since I am running a witness server on the Hive-Engine side this affects me in a way might be a good place to be or maybe not, ready more about it - Fee Structure Changes Coming to Hive-Engine
Our tookens do not have that much depth in them to create a robust Open market so maybe with some of these fees added on, it might boost the deepness of these pools meaning more liquidity.
Updates~ as of the post
- gateway fees from 1% to 0.75% (BSC and ETH fees will remain 1% on withdrawal since there are no fees on deposit).
- Pools will now have a 0.25% fee per transaction. Note, 100% of the fees will go to the liquidity provider.
These changes will be done, 8pm Eastern 1/25/22 which is now in a few hours.
Measuring success: If this goes well we'll have deeper liquidity pools provided by more people, and they're generating the best fees in the entire industry for liquidity providers. We'll see. - Aggroed..
I sure hope so having more liquidity will sure have some eyes looking to our direction.
Who Am I?
It's me Chronocrypto...
Thank you got reading my content, not as deep as others on here, I express my self like I know how.. I also wanted to share with some things about what I have going on Hive and or around the blockchain..
I run Project Utopis, Project Utopis Whitepaper You probably have seen Utopis posted around, of not check out some of these posts created by holders of the coin.
Utopis content from holders
Utopis best in class dividends project - Written by hykss
Planning on increasing my UTOPIS stake | Data of Total Hive received by the UTOPIS investors Written by bala41288
utopis project dividends dropped but now you 're drops in other coins ... Written by funnel
One the best token on hive and its lovely dividends 😍💰- Written by bhattg
A Way To Earn More Hive On Hive While You Sleep- Written by readthisplease
If you're not looking into Utopis, you should be.- Written by dagger212
Tokenomics of Project Utopis
- Total Hard Cap: 1 Million Tokens~
- Total Burnt (null) 850,000
- Total Minted: 150,000 and in circulation (80776.7836134) held by accounts, I currently hold 69,223.21638656
- Current true* price of Utopis 5 Hive.
Utopis is at 50k hive delegated,
Increased Utopis Delegation Rewards
Delegate Hive to Utopis to earn Utopis token
You can you buy Utopis on Tribaldex.
“Tribaldex is made by the same Hive-Engine Team”
Future goals
Continue building Project Utopis to it's fullest, I enjoy delegating success to other projects.
Continue providing network support, helping scale once needed and hopefully launch my last part of Project Utopis to be a cool ecosystem in part with Hive and all other projects.
Go ahead and VOTE on both Hive and Hive-Engine Witness Serves @chrono.witness
Hive Witness Vote - https://vote.hive.uno/@chrono.witness
Hive-Engine Vote- https://tribaldex.com/witnesses
Posted Using LeoFinance Beta
Heard of this update on one of Splinterlands discord channel. Still don’t understand much. Let’s see how it affects the market.
I have heard about the changes to the diesel pool and I don't think the small fees will really offset any IL the providers get. At the same time, I am a bit sad that fees are being implemented as it was one way HIVE's AMM pools were different from the existing ones like Pancake or Uniswap.
Posted Using LeoFinance Beta
Likewise I too I don't really understand this and how it affecting the market as well. More also this splinterland please can you enlighten me more about this game. Thanks
I believe this will be very helpful in the blockchain
It's very important and has influence over the course about all things in the blockchain
Great work team for keeping it alive and good place
Thanks for this u have always been giving us a great update
Following you for sometime, I believe you've the best interest of the community. Voted casted. Wish you all the best
I heard about it and
Of course this has to change in the long term! 🧠