Project Update: SS Delay, Nov 1st Hardfork, Post-Quantum Algorithm
The uPlexa SteadFast Storm release scheduled for November 1st will have to be delayed. New date: January 1st, 2020. However, there will still be a hardfork on November 1st, please scroll down to read about the next Hardfork. This article also includes some important information regarding the timeline for 2020 near the bottom, including our approach to a quantum resistant blockchain.
Why the delay?
This is our first major delay in the history of uPlexa, and I (QuantumL3aper) take full responsibility for the delay. There is a slew of reasons why I have chosen to delay this update. Firstly, the network upgrade is much larger of an upgrade than I had originally anticipated. To get everything ready in time, would likely result in sloppy work that should not be implemented into a production environment (mainnet). The scheduled date was too early, and for this reason I have been unable to attend to other rolls such as community engagement and marketing for this past six weeks. Unfortunately, there is only so much planning one can do, and often times, taking action will show how your planning did not amount to the adequate cycle in which objectives are needed to be engaged or altered.
The main reasons for the delay:
- Much larger of a network upgrade than originally anticipated
- Lack of time for both developments AND community engagement/marketing. We need to be able to have more time to manage everything.
Also, other core softwares are will still have to undergo massive integration in order to support the SS upgrade such as:
- Web wallet
- Block Explorer
- Android Wallet
- Simplewallet (CLI wallet)
- Desktop GUI Wallets
Furthermore, rigorous testing & audits will need to be completed prior to mainnet implementation as this is a MASSIVE alteration from the cryptonote protocol and must be deemed secure prior to the move to mainnet. After all, this is not monopoly money, this is the real thing.
November 1st Hardfork:
With that all being said, we will still be hardforking on November 1st. Although we will not yet be implementing SteadFast Storm, our November 1st hardfork will still include the halvening and the TX fee reduction update.
Halvening notes:
Block rewards will be decreased by 50% on November 1st, thus miners will make 50% less than they currently are now (or a little bit less due to our emission curve). AFTER the SteadFast Storm in January, miners will make ~62.5% less considering the halvening, PoS/PoW split, and emission curve. That being said, the dividends in which are paid out to Utility Nodes (20% of every block reward) will likely increase the demand for uPlexa Coins ($UPX) whilst lessening the supply due to collateral locking. After which, when the dVPN is launched, there may later be minor fees associated with using the dVPNs network data, increasing the exchange of value (demand) for $UPX even more-so. Thus, as a miner you will likely not see a loss of profits but rather more sustainable value within the uPlexa economy.
iOS Applications:
iOS applications will still be delivered in Q4 of 2019.
Post-Quantum Algorithm (ie. Quantum Resistance)
In 2020, we will begin work on implementing a Post-Quantum algorithm (quantum resistance). Let us be clear, quantum computing is years out from being practical. However, it is important to develop adequate encryption for the future. Afterall, we are in “crypto’s” as a community. Crypto meaning a currency built off of strong cryptography. If our technology is really to remain the most robust and modern, things will need to change within the next few years. It’s not necessarily only about the future, we’re talking about quantum here. Technically, any data that has not been encrypted with a post-quantum algorithm is not quantum resistant. In simple terms, any blockchain that has not been quantum resistant since the genesis block, is not quantum resistant. Thus, if a project switches to a quantum resistant blockchain without re-encrypting previous signatures & keys, the blockchain will still be prone to quantum based attacks in the near future, regardless of whether or not they implement a post-quantum algorithm.
We will need to find the adequate approach to implementing a sufficient post-quantum algorithm within the uPlexa blockchain early on, to prevent any data later being used to attack the uPlexa blockchain (such as identifying keys from early on in the blockchain later down the road). We plan on working with other cryptographers in order to come up with a viable solution to ensuring a safe future. We plan on beginning development and implementation of post-quantum technologies in Q1 of 2020 with a deadline for implementation between Q2-Q3 of 2021.
Will QuantumL3aper leave once uPlexa is Quantum Resistant?
NO :)
Revised timeline for 2019-2020:
Q4, 2019:
- Cryptography Challenge (1,000,000 UPX Prize)
- uPlexa 1 year Birthday! Information coming soon!
- Halvening & TX Fee reduction
- November 19th — SteadFast Storm goes Testnet
- iOS Wallet Release
- iOS Miner Release
Q1, 2020:
- Long awaited SteadFast Storm Deployment to Mainnet
- Post-Quantum (quantum resistant) algorithm R&D begins
Q2, 2020:
- dVPN Apps Launch for Desktop devices
Q3, 2020:
- eCommerce Platform Launches in Beta
- dVPN Apps Launch for iOS & Android
- Launch of PlexaPay
Q4, 2020:
- First implementation of UBLITZ transactions on the uPlexa network (Much quicker transaction times)
- Possible PoW upgrade/shift & hardfork
- PLEXANET API Release for developers whom wish to create UNApps
Note: Minor events such as exchange listings or partnerships may be added to this timeline at a later time after confirming said events with the necessary individuals. Minor or unexpected updates are also not included in this timeline.
More information:
