MARKNetwork Blockchain: Masternode upgrades
Updates and Upgrade-MIDAS and BIRAKE
Short summary of the article:
“Do not get left behind”
»Our Low Risk category Masternode coin projects have been working aggressively to update and upgrade the platforms with security patches, server upgrades and pricing plan changes to make the projects stabler. «
Midas project has been exploring innovative investment instruments to grow and strengthen its existence as an investment and asset management platform. In the meanwhile BIRAKE our another Low-risk category Masternode made Live its first DEX exchange – MIDEX and a lot more has changed on the pricing part.
Let us explore the updates:
The Midas project team has been working aggressively on enhancing the security features at the back-end and managing the masternodes. This is happening primarily because the Midas community is expanding rapidly. Currently, with 6500 community members, 50+ coins listed, administrating 566 masternodes and investments worth more than 75 BTC Midas targets to work on providing price stability and sustainable value growth.
The platform altered its reward structure which targets to offer complete price support to its coin- MIDAS. Now even in case of panic selling the price structure remains strong in the long term.
In early 2019, Midas platform sustained quite a bit of damage that is why the focus in the first quarter was to fix the vulnerabilities of the platform. Due to panic sell, Fline coin issue, buyback and price challenges team, Midas started fixing the wallet issues and server issues to counter the PoS exploit attack.
These issues had primarily cropped up from increased users and more masternodes that is why the team went straight ahead to increase the server memory. With PoS exploit attack counter patch, numerous Midas wallets received error fixing updates and are extremely secure now.
Server Memory Upgrade
Midas increased the server storage and added more servers as some of the wallets were creating massive debug files which were hurting the servers.
Inner Masternode Optimization
Midas is transferring all the masternodes its new system that will make administration of Masternodes more flexible. The implementation of automated docker system facilitates updating the masternodes with few lines of code which will make the platform scalable.
The inner optimization is focused to increase the return of investment for many coins supported by Midas platform as it will spread the rewards to PoS address. The week in which the upgrade was processed, the Midas platform usage fee was waived off as the reward generation was slow. With masternode optimization, the platform has become more stable and profitable.
The team is working on development of “BTC in” and “BTC out” system. This feature will add to the liquidity of the platform so that crypto enthusiast can buy and sell their coins with BTC also.
Price increase of Midas coin
The buyback of the Midas coins have been made more transparent and the buybacks will be done randomly each week in the random time. The platform users will have clarity about the coins earned and burned every week making sure they can monitor the business growth.
Multiple income sources
“BTC in” and “BTC out” will be the new sources of income where the platform will charge a small amount of fee on selling the coin. With these income sources, the Midas team will grow and it will expedite the speed of platform development.
Mature revenue streams
Midas targets to become the pioneer among masternode coins which will run on coinomics of being strong, offer buybacks and be a utility coin so that the investment become stable.
The price strength and gradual growth are promised by such economic structure.
As per the new reward structure:
Collateral – 2500 MIDAS
Distribution – 75% MN, 20% PoS, 5% dev fee
Block time – 120 secs
Block 111,000 – 130,000: 3
Block 130,001 – 150,000: 2.75
Block 150,001 – 200,000: 2.5
Block 200,001 – 250,000: 2.25
Block 250,001 – 500,000: 2
Block 250,001 – 750,000: 1.5
Block 750,001 – 2,100,000: 1
Rewards half every 1,250,000 blocks
Changes in collateral
According to the new reward structure, MIDAS platform reward generation stability will go up to 40 years making it a highly futuristic platform. In the bearish market increasing the collateral is a perfect combat mechanism. This step has been taken to make Midas ready for the future.
Such changes in collateral and introduction of price strength at block 110,000 will help Midas encounter the cryptocurrency price volatility effectively.
Ready to use features of the platform
Currently, the platform supports Masternode Shares, Instant Shares, Reinvestment, Multiple payouts in a day, at a glance investment portfolio, asset management, trading bots and systems, BTC in and out, easy investment monitoring, automatization of platform, private ICO pools, cloud mining, and signals.
As a fully automated investment platform, Midas, every user has a personal account that displays the portfolio and the instrument works immediately thus to start earning the platform requires very less educative effort. The BTC trade is also carried out automatically or the buy/sell price can be set by the platform user to make sure even when he is not monitoring the price, he makes the most out of the swing.
In Jan 2019 BIRAKE launched its first non-BIRAKE DEX (Decentralized exchange). The exchange is being used by Midas and is called Midex.
BIRAKE Pricing plan changes
To buy an exchange now, the users need to pay one time per year. Earlier the pricing plan required to pay one-time payment + monthly fee. This change will have a significant impact on the big package buyers. The impact on the lower package buyers is almost insignificant as they will be able to save more BIR in the first year now.
Trading fees split
The trading fees split remains the same.
While Midas platform users and Masternode participation will gain stable returns, BIRAKE is significantly increasing its user base by offering a highly-efficient DEX platform.
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