Latest Progress on the BitStash Blockchain (Including New Supply Changes)

The BitStash blockchain (a fork from qtum) has been under development for the past few days and some significant progress has already been made. As you can see from the output below we are on the final stages of both the testnet and mainnet. The genesis block has been created and a premine will take place to provide a 200:1 swap for pre-existing BitStash token holders on the Ethereum blockchain.

In addition to the token swap, a new smart contract and token will be created on Ethereum to serve as wrapped STASH for those that would prefer to keep their coins on Ethereum. These tokens will be matched 1:1 and can be moved back and forth instantly at anytime, however you will not be able to participate in staking, or offline staking. More documentation to come regarding wrapped STASH at a later date.

root@bitstash:/home/BitStash/src# 2020-09-06T17:37:50Z BitStash Core version v0.1.1.0-1a95c1ce8-dirty (release build)
2020-09-06T17:37:50Z Validating signatures for all blocks.
2020-09-06T17:37:50Z Setting nMinimumChainWork=0000ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
2020-09-06T17:37:50Z Using the ‘sse4(1way),sse41(4way),avx2(8way)’ SHA256 implementation
2020-09-06T17:37:50Z Using RdRand as an additional entropy source
2020-09-06T17:37:50Z Default data directory /root/.bitstash
2020-09-06T17:37:50Z Using data directory /root/.bitstash
2020-09-06T17:37:50Z Config file: /root/.bitstash/bitstash.conf
2020-09-06T17:37:50Z Using at most 125 automatic connections (1024 file descriptors available)
2020-09-06T17:37:50Z Using 16 MiB out of 32/2 requested for signature cache, able to store 524288 elements
2020-09-06T17:37:50Z Using 16 MiB out of 32/2 requested for script execution cache, able to store 524288 elements
2020-09-06T17:37:50Z Using 0 threads for script verification
2020-09-06T17:37:50Z scheduler thread start
2020-09-06T17:37:50Z HTTP: creating work queue of depth 16
2020-09-06T17:37:50Z Config options rpcuser and rpcpassword will soon be deprecated. Locally-run instances may remove rpcuser to use cookie-based auth, or may be replaced with rpcauth. Please see share/rpcauth for rpcauth auth generation.
2020-09-06T17:37:50Z HTTP: starting 4 worker threads
2020-09-06T17:37:50Z Using wallet directory /root/.bitstash/wallets
2020-09-06T17:37:50Z init message: Verifying wallet(s)…
2020-09-06T17:37:50Z Using BerkeleyDB version Berkeley DB 4.8.30: (April 9, 2010)
2020-09-06T17:37:50Z Using wallet /root/.bitstash/wallets
2020-09-06T17:37:50Z BerkeleyEnvironment::Open: LogDir=/root/.bitstash/wallets/database ErrorFile=/root/.bitstash/wallets/db.log
2020-09-06T17:37:50Z init message: Loading banlist…
2020-09-06T17:37:50Z ERROR: DeserializeFileDB: Failed to open file /root/.bitstash/banlist.dat
2020-09-06T17:37:50Z Invalid or missing banlist.dat; recreating
2020-09-06T17:37:50Z Cache configuration:
2020-09-06T17:37:50Z * Using 2.0 MiB for block index database
2020-09-06T17:37:50Z * Using 8.0 MiB for chain state database
2020-09-06T17:37:50Z * Using 440.0 MiB for in-memory UTXO set (plus up to 286.1 MiB of unused mempool space)
2020-09-06T17:37:50Z init message: Loading block index…
2020-09-06T17:37:50Z Opening LevelDB in /root/.bitstash/blocks/index
2020-09-06T17:37:50Z Opened LevelDB successfully
2020-09-06T17:37:50Z Using obfuscation key for /root/.bitstash/blocks/index: 0000000000000000
2020-09-06T17:37:50Z LoadBlockIndexDB: last block file = 0
2020-09-06T17:37:50Z LoadBlockIndexDB: last block file info: CBlockFileInfo(blocks=0, size=0, heights=0…0, time=1970-01-01…1970-01-01)
2020-09-06T17:37:50Z Checking all blk files are present…
2020-09-06T17:37:50Z LoadBlockIndexDB(): address index disabled
2020-09-06T17:37:50Z LoadBlockIndexDB: log events index disabled
2020-09-06T17:37:50Z Initializing databases…
2020-09-06T17:37:50Z Pre-allocating up to position 0x1000000 in blk00000.dat
2020-09-06T17:37:50Z Opening LevelDB in /root/.bitstash/chainstate
2020-09-06T17:37:50Z Opened LevelDB successfully
2020-09-06T17:37:50Z Wrote new obfuscate key for /root/.bitstash/chainstate: cd3a9d7cab50e62b
2020-09-06T17:37:50Z Using obfuscation key for /root/.bitstash/chainstate: cd3a9d7cab50e62b
2020-09-06T17:37:50Z Opened LevelDB successfully
2020-09-06T17:37:50Z Wiping LevelDB in /root/.bitstash/stateBitStash/resultsDB
2020-09-06T17:37:50Z init message: Rewinding blocks…
2020-09-06T17:37:50Z block index 46ms
2020-09-06T17:37:50Z init message: Loading wallet…
2020-09-06T17:37:50Z BerkeleyEnvironment::Open: LogDir=/root/.bitstash/wallets/database ErrorFile=/root/.bitstash/wallets/db.log
2020-09-06T17:37:50Z [default wallet] Wallet File Version = 10500
2020-09-06T17:37:50Z [default wallet] Keys: 0 plaintext, 0 encrypted, 0 w/ metadata, 0 total. Unknown wallet records: 0
2020-09-06T17:37:50Z [default wallet] Performing wallet upgrade to 169900
2020-09-06T17:37:51Z [default wallet] keypool added 2000 keys (1000 internal), size=2000 (1000 internal)
2020-09-06T17:37:51Z [default wallet] Wallet completed loading in 987ms
2020-09-06T17:37:51Z [default wallet] setKeyPool.size() = 2000
2020-09-06T17:37:51Z [default wallet] mapWallet.size() = 0
2020-09-06T17:37:51Z [default wallet] mapAddressBook.size() = 0
2020-09-06T17:37:51Z UpdateTip: new best=0000ddb7d69fd03a29a1df1cb7e4f22ed3fc4c51c80a443b99afd6c5fec8c4df height=0 version=0x00000001 log2_work=16.000022 tx=1 date=’2020-09-06T13:49:31Z’ progress=1.000000 cache=0.0MiB(0txo)
2020-09-06T17:37:51Z block tree size = 1
2020-09-06T17:37:51Z nBestHeight = 0
2020-09-06T17:37:51Z AddLocal(139.180.134.60:4565,1)
2020-09-06T17:37:51Z Discover: IPv4 ens3: 139.180.134.60
2020-09-06T17:37:51Z AddLocal([2001:19f0:4401:123a:5400:2ff:fef5:3a5e]:4565,1)
2020-09-06T17:37:51Z Discover: IPv6 ens3: 2001:19f0:4401:123a:5400:2ff:fef5:3a5e
2020-09-06T17:37:51Z Bound to [::]:4565
2020-09-06T17:37:51Z Bound to 0.0.0.0:4565
2020-09-06T17:37:51Z init message: Loading P2P addresses…
2020-09-06T17:37:51Z Failed to open mempool file from disk. Continuing anyway.
2020-09-06T17:37:51Z torcontrol thread start
2020-09-06T17:37:51Z Loaded 1 addresses from peers.dat 1ms
2020-09-06T17:37:51Z init message: Starting network threads…
2020-09-06T17:37:51Z init message: Done loading
2020-09-06T17:37:51Z msghand thread start
2020-09-06T17:37:51Z opencon thread start
2020-09-06T17:37:51Z addcon thread start
2020-09-06T17:37:51Z dnsseed thread start
2020-09-06T17:37:51Z net thread start
2020-09-06T17:37:52Z New outbound peer connected: version: 70018, blocks=0, peer=0 (full-relay)


root@bitstash:/home/BitStash/src# 2020-09-06T17:38:02Z Loading addresses from DNS seed bitstash2.mywire.org
2020-09-06T17:38:03Z 1 addresses found from DNS seeds
2020-09-06T17:38:03Z dnsseed thread exit


root@bitstash:/home/BitStash/src#
root@bitstash:/home/BitStash/src# ./bitstash-cli –getinfo
{
“version”: 10100,
“protocolversion”: 70018,
“blocks”: 0,
“timeoffset”: 0,
“connections”: 2,
“proxy”: “”,
“difficulty”: {
“proof-of-work”: 1.52587890625e-05,
“proof-of-stake”: 1.52587890625e-05
},
“chain”: “main”,
“moneysupply”: 0,
“walletversion”: 169900,
“balance”: 0.00000000,
“stake”: 0.00000000,
“keypoololdest”: 1599413871,
“keypoolsize”: 1000,
“paytxfee”: 0.00000000,
“relayfee”: 0.00400000,
“warnings”: “”
}

New BitStash (STASH) Supply Changes

At the initial start of BitStash there was a total of 36 billion tokens, a total of 30 billion tokens where burned with the first hard fork of the BitStash network. This left exactly 6 billion stash tokens remaining in the total supply. Now, as we migrate onto our own blockchain we will be shrinking the total supply of STASH to 30 million. Having such a huge number of tokens in the billions has never seemed reasonable or quite frankly scarce enough for a cryptocurreny. Which is why moving forward shrinking the entire supply is a logical choice. This is the last time the supply can ever be changed and will be set forever.

Swap Ratio: 200:1

Circulating Supply (At Launch): 30,000,000 STASH
Max Supply (Est. Reach in 30 yrs / 2050): 100,000,000 STASH

For example if you have 200 STASH right now, once BitStash Mainnet has officially launched you will be able to swap to have 1 STASH.

There will be more information released regarding how to swap and download the new BitStash Blockchain wallet.

After we have officially launched the BitStash blockchain, we will create a 1:1 token on the Ethereum blockchain to remain backwards compatible with other networks and systems BitStash is currently connected to. This new token on Ethereum will serve as a wrapped version of BitStash and can be switched between mainchain coins instantly.

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