Hardfork Successful: What This Mean For the Ecosystem
DeFiChain’s highly anticipated hardfork went live on October 29th at block height 4,463,000, introducing a suite of enhancements aimed at refining the protocol, empowering users, and strengthening ecosystem integrity.
Here’s a look at the key changes and their impact on users and the DeFiChain platform.
Revamped Owner Rewards Calculation
For some time, users have faced challenges with how owner rewards were distributed, stemming from calculation inefficiencies. This update resolves these long standing issues, ensuring a smoother, more reliable experience for token owners. The bug fixes associated with this feature will be fully deployed by the end of the week, delivering both transparency and ease of use.
Impact:
- Simplified reward calculations
- Better user experience for all participants
Token Ownership Update
In a move towards more control over their assets, users will soon gain the ability to transfer data ownership. This update offers new levels of flexibility, empowering users to manage their tokens with greater autonomy, reinforcing the project's commitment to community-led finance.
Impact:
- Increased control for token holders
- Enhanced flexibility in data ownership
Token Deprecation
As part of the ongoing effort to streamline the platform, DeFiChain introduces a “tool” to deprecate outdated or inactive tokens, labelling them with statuses such as “End of Life” (EOL). This will reduce clutter within the ecosystem and enhance the efficiency of transactions, helping users distinguish between active and deprecated assets.
Impact:
- A more efficient, cleaner ecosystem
- Clearer communication regarding inactive tokens
Reinforced EVM Layer: Rejecting Pastime Blocks
To ensure the chronological integrity of the blockchain, the hardfork strengthens the EVM (Ethereum Virtual Machine) layer, preventing the acceptance of improperly ordered blocks. This enhancement will contribute to improved security and trust in DeFiChain’s transaction system.
Impact:
- Boosted blockchain integrity
- Reduced risk of transaction errors
Re-pegging & Re-collateralizing the dToken System
One of the more ambitious updates focuses on the dToken system. The platform will introduce measures to re-peg DUSD to $1 and recalibrate the system’s collateralization model. This effort seeks to reward loyal supporters, restore stability to the ecosystem, and fortify the financial structure for all users.
Impact:
- Strengthened DUSD peg at $1
- Incentives for long-term supporters
- Increased stability and user confidence
What’s Not Included in the Hardfork: Faster Block Times
Though faster block times were initially planned for this update, the team has decided to delay its rollout. The focus remains on optimizing the feature to ensure it integrates seamlessly with the platform’s existing infrastructure, without compromising network stability. Users can expect this enhancement to be implemented in the near future once testing is complete.
Final Thoughts
The October 29th hardfork signals DeFiChain’s ongoing commitment to refining its platform and empowering its community. From cleaner token management to enhanced rewards systems and improved blockchain integrity, these updates align with the platform’s vision of becoming a leader in decentralized finance.
For further technical details, check out the official release on DeFiChain’s GitHub.