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About this blog

Posts from the Graft development blog, this is for easy reference, please like, love or otherwise show your appreciation at: https://www.graft.network/blog 

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Snider

Screen-Shot-2020-01-23-at-2.01.58-PM.png

Congratulating @jfkwn and the community on this very important accomplishment!

To run a Lyra testnet node, test token issuance, or just keep an eye on the project: https://github.com/graft-project/LyraNetwork

Lyra Testnet TG channel: https://t.me/lyranodes

P.S. we need at least 20 live nodes to get the real testing and benchmarking under way so please join the testnet!  (Lyra Testnet TG channel is the best place to ask for help)

 

The post Lyra Permissionless Testnet is LIVE! Join Testnet appeared first on Graft Blockchain.


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Finishing_GRFT_Roadmap-4.png

The next large milestone for GRAFT is implementing checkpointing (a way to achieve finality and avoid various double spend exploits between the layers of the multi-layer blockchain).

We have been looking at checkpointing solutions from Dash, LOKI, and Ethereum Casper. All of them use slightly different approaches for validator quorum selection, conflicting checkpoints resolution, revision attacks, catastrophic crashes, etc. Our goal is to pick the best model for GRAFT by leveraging the work that’s been done on these other platforms.

In the next couple of weeks we will be working on putting together a proof-of-concept for GRAFT checkpointing, at which point we will publish the design to collect comments and proceed with full implementation.



—–
On a separate subject, one of the community devs who was interested in helping Slava with Lyra has stepped up to continue Lyra development and has already built an impressive showcase app, which he’s planning to publish shortly. Little too early to “count the chickens”, but looking quite promising that Lyra development will continue.

The post Dev Update – Checkpointing appeared first on Graft Blockchain.


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Wallet Update 1.15

Wallet-1.15-tx-history-.png Long overdue, a wallet update with transaction history is now ready for desktop and being pushed out to mobile.

https://github.com/graft-project/GraftMobile/releases

This release gives us the confidence that we can maintain and enhance the wallet going forward, with a new team make up.

Next

Next, we will now focus on analyzing the double spend protection as we’re exploring finishing up RTA in the near term.

The post Wallet Update 1.15 appeared first on Graft Blockchain.


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GRAFT Letter to Community

We would to thank you all for participating in Graft project. As you all know, GRAFT had seen better days. From day one we had one single mission: to enable crypto to be used as every day money. We lived this mission every day of our lives for 2 years, and had a lot done under the hood. We admit that while working on developing new technology we didn’t pay enough attention to promoting the GRFT token. Many crypto projects out there did the opposite, they spend more money on marketing and listed on more exchanges. Some of them didn’t do any development at all. So, before we continue, I would like to list everything that we have done so far:

  1. PoW Mainnet based on privacy blockchain ( 2 years in existence )PoS layer of Supernodes (with 1,500+ staking supernodes)
  2. DHT communications, Supernode sample selection with blockchain based disqualifications
  3. Mobile and Desktop wallet and Point-of-Sale applications
  4. Verifone and Ingenico payment terminal integrations
  5. DEX design and prototype
  6. End-to-end Testnet integration
  7. Merchant tokens solution based on a DAG-style blockchain written from scratch
  8. Listed GRFT on 3 exchanges: TradeOgre, HotBit, STEX

Each of these deliverable are complete to a various degree. Some are close to being finished. Others need substantial work.

Thinking in retrospect, we should have been more balanced in our approach and pay more attention to promoting the coin. None of us, however, could have foreseen such a steep downturn in the crypto market, that wiped out the value of many alt coins, including Graft.

As funds dried up, so did the development. From 10+ core developers and multiple contractors at the peak, we now only have 2 core developers and several part-time contractors.. We spent the last 6 months trying to find a solution. We contemplated shutting down many times, but it would be a shame to have all this work go to waste. So, we decided on a different approach. We started looking for people who would breath new life into our project. But first we wanted to make sure that a) our ideas have merit and b) the development direction is good. We started talking to the market — individuals, merchants, large companies, and various government entities who could possibly benefit from what we’re developing and got a solid confirmation that we are, in fact, on the right track.

With that in mind we decided to NOT give up.

So, now we are looking for new blood, new approaches, new partnerships, new everything. We come to you hat in hand. We really need your help. We are not looking for money, just your constructive advice.

Dear Community, please put yourselves in our shoes, and help us find a way forward.

Thanks in advance.

Kindly

Graft core team.

P.S. Please use GRAFT’s main TG channel to participate in the discussion.



The post GRAFT Letter to Community appeared first on Graft Blockchain.


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Why Lyra?

While working on various GRAFT Network components over the past two years, we felt that working with Monero code base was quite restricting and that we could eventually run into roadblocks and limitations when it came to providing the performance necessary for high volume payments, or building out some of the functionality (not to mention the heft of dealing with the older convoluted code base), so we started an R&D experiment of creating a blockchain from scratch using the latest approaches and techniques in blockchain design. This development came together quicker than expected and opened up various possibilities, among which was an opportunity to launch it separately as a solution for merchant tokens and tokens in general.

GRAFT and Lyra – path forward

Both technologies have their own strengths at the moment. The existing GRAFT chain is privacy-centric and has implemented staking, communication, has a decentralized network of supernodes with consensus mechanism. Lyra is capable of token issuance, super-fast transactions, very light clients, and intra-chain token conversion.

Together they complement each other and can work in concert to provide the most effective solution available today. image1.png

Lyra Permissioned Network is a spin-off network set up to establish commercial market presence and to bootstrap the project with real life usage. Screen-Shot-2019-09-13-at-7.30.08-AM.png

On the token side of things:

GRFT will remain the staking and voting currency for the decentralized GRAFT and Lyra Networks. It will take advantage of the decentralization and staking mechanism that exists on GRAFT Network today and due to its privacy features is a great match for that.

LYRA will be the gas currency for Lyra transactions on Lyra part of the network.

Lyra permissioned is a separate network, with its own economics, and with LYPE being the staking and the gas token of the network.

Summary

GRAFT Network is not going anywhere – it is being supplemented with a newer blockchain technology that’s capable of removing the obstacles that we would otherwise face. GRFT (or its equivalent on the Lyra chain) remains the backbone currency of the decentralized network.

If you look at the top 20 blockchains by the market capitalizations, most of them represent novel blockchain technology approach developed from scratch. With Lyra, we think GRAFT gets a great additional technology track it can rely on for solving problems we set out to address, more market traction potential faster, and can be further noticed and appreciated by the blockchain community at large.

The post GRAFT and Lyra – why Lyra, why now, how it affects Graft Network and GRFT coin appeared first on Graft Blockchain.


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We have received a lot of pushback on Lyra rollout and ICO plans. We’d like to address our community now and try to explain why we’re doing this and why now.

There are two main reasons: Market and Funding.

Market

As Wayne Gretzky once said “I skate to where the puck is going to be”. Today the market for spending crypto is very thin. People look at BTC and few other cryptocurrencies as an appreciating asset, and are mostly in accumulation mode, spending them reluctantly.

In order for GRAFT Network to be successful, we need lots of support from the merchants and the merchants are going to be interested in embracing new methods of payment when they see real demand for it.

How can we stimulate this demand? The best way we can think of is by having merchants themselves, as well as other big players like governments and corporations be able to issue their own digital currencies/tokens that are compatible with the point of sale – something they’ve been thinking about and experimenting with. This trend was the impetus for Lyra fast-tracking and the reason we believe that it should precede or at least go in parallel with the main network.

Funding

It’s no secret that we have been operating on a very tight budget for quite some time, cutting salaries to the bone (or going without it) and tightening every belt we can. We can’t continue operating in this mode indefinitely and most importantly, it does not benefit the project in any way.

Other Considerations

We heard from the original supporters that they think it would be fair if we did an airdrop to the original GRAFT ICO participants with Lyra tokens. We think it’s a valid idea and are open to something along these lines, provided community support on this issue.

Finally

In order for Lyra ICO to be successful, we WILL need your full support. Please take some time to consider all the pros and cons of this proposition. We believe you will find a lot more positives than negatives and agree that it is the best path forward. This ICO should not “dilute” or in other ways abandon the existing token holders – on the contrary, it should build up the value and visibility of the project – the more people know and use some part of the network, the more demand there’s going to be for GRAFT Network as a whole and consequently for GRFT.

GRAFT vs Lyra

Some questions had to do with how Lyra works with GRAFT Network. Lyra represents the tokens or currencies that merchants (or other parties) issue as cash back rewards, store credits, corporate perks, etc.. GRAFT is the Network that provides acceptance and conversion of these and regular cryptocurrencies. lyra-graft.png

The post Addressing Lyra ICO concerns appeared first on Graft Blockchain.


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LYRA_ICO.png

As many of you may already know, since earlier this year, a small part of the team lead by Slava have been working on a new DAG-style “tokens blockchain”, dubbed Lyrа, which would allow merchants to implement loyalty, store credit, and gift card programs easily and inexpensively. This functionality was described in the original white paper as “merchant tokens” and is proving to be a hot area of interest for the merchants and others as an entry point into crypto and digital currencies market.

Lyra blockchain is designed and developed from scratch using the latest techniques in blockchain design and addressing typical blockchain issues of speed, size, and throughput at the core. In fact Lyra possesses a lot of unique and interesting characteristics that make it a perfect fit for a lot of token implementations that benefit from point-of-sale compatibility.

  • DAG-style chain collection / blocklist architecture
  • Super Light Clients / Wallets
  • Fungible and Non-fungible Tokens
  • Pre-programmed Smart Contracts
  • Instant Transactions
  • Built-in Instant Token Exchange Capability
  • Compatible with Point of Sale
  • Flexible Transaction Fee Structure

And of course Lyra is completely compatible with GRAFT Network when it comes to the complete transaction processing, allowing transactions that are partially funded with loyalty points or other credits. GRAFT_RTA_TX_explained.png

Unlike other loyalty solutions on the market (a $7b/yr industry just in management costs alone), the solution based on Lyra will be portable and persistent, freeing the organizations from being “locked in” and completely at the mercy of loyalty program vendors.

Realizing the potential of Lyra, which reaches far and wide (think about the corporations and governments implementing their own internal or external digital currencies that are compatible with point of sale), and given the fact that Lyra is a separate code base, will run as a separate network with its own token economy, we have decided to open LYRA up to a public sale of the Lyra tokens, to be held tentatively Oct 15 of 2019.

In addition to standard discounts for early buyers, we’re also extending the opportunity to GRAFT holders to participate by exchanging their GRFT into Lyra at a substantial discount to the ICO prices.


Roll-out Roadmap


Roadmap19-20.jpg


Lyra Tokenomics:

Lyra will initially run as a permissioned network (for use with Shopify and other integrated platforms and partnerships). We’re doing this to establish the network and solidify the technology.
The permissioned network eventually will be open to qualified third party partners. LYPE tokens (for Lyra Permissioned) will be used by the network for authorizer node staking and as “gas” for certain types of transactions and will be distributed through the upcoming ICO. (Note: Lyra project’s own commercial gateways, partners, and third party developers, will have to purchase these tokens from the market in order to run the gateway).

After this initial period as permissioned network, we’re planning to open up the project to a permissionless model. When that happens, a new token (LYRA) will be launched representing the permissionless network and those who purchased LYPE token will receive an airdrop equal to their LGP purchase on the new network.


Preliminary ICO terms:


LYPE tokens will be launched on the active Lyra Permissioned network (same network that Shopify and other integrated services will run on)

Dates of the ICO: Oct 15, 2019 – Nov 15, 2019

LYPE tokens: 150M

LYPE tokens available for sale to public: 120M

LYPE ICO price: $.10 payable in BTC, ETH, DASH, XMR, EOS

Discounts:

  • 1st 10M – 20%
  • 2nd 10M – 15%
  • 3rd 10M – 10%
  • 4th 10M – 5%

Regions open to sale: Any excluding US for the time being

$GRFT holders will be able to do a one time exchange of their GRFT for LYPE for 25% discount(subject to 20M Lyra gas total cap, can’t be combined with other discounts).

You can find more information about Lyra and the upcoming ICO on Lyra.Live





The post LYRA Roll-out Plan and Upcoming Public Sale appeared first on Graft Blockchain.


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EBandDEX.png Now that we have completed 3 out of 4 major milestones toward launching the fully functional GRAFT Network – a decentralized payment network that doesn’t depend on banks or centralized exchanges to provide credit/debit-card-like payment functionality anywhere, we’re moving on to the last major step – establishing a robust Exchange Broker layer that will support digital currency conversions inside the network. GRAFT_network_milestones.png

In order to jumpstart this network, we’re looking to make the DEX usable both inside the network, as well as outside, to traders who are looking for a reliable, fast, decentralized, non-custodial trading platform and could eventually become an integral part of the network as exchange brokers.

About DEX’s

A few words about decentralized exchanges (DEX’s) – most of the DEX’s on the market today are either “on-chain” DEX’s, which means they only support exchanges (swaps) among tokens on that chain (Binance DEX for example), custodial/escrow solutions, or prototypes and proof-of-concepts based on time lock contracts.

GRAFT’s ability to leverage the network of supernode validators combined with $GRFT based collateral system, allows it to provide one of the few (if not only) real non-custodial, fast, atomic swap DEX, positioning it as a formidable DEX in its own right.

Collateralized Cross-chain Atomic Swaps

Atomics Swaps has been the holy grail of decentralized exchanges, however while sounding good on paper, they have some fundamental obstacles that haven’t been overcome yet.
  • They are slow (unless you use something like Lightning Network).
  • They don’t work for cryptocurrencies that don’t have smart contract support
  • A hash algorithm must be inherent to both of the participating cryptocurrencies
  • Time lock contract capabilities must be inherent to both cryptos
GRAFT is uniquely positioned to implementat atomic swaps or their equivalent in the real world by leveraging Supernodes as “independent validators” and trade orchestrators, with use of $grft based collateral or “bonds”.

Proposed Implementation

The currently proposed implementation is now available as RFC and is represented by the following workflow: DEX5_diagram.png As the diagram shows, instead of using a shared secret/hash to ensure exchange transaction integrity, GRAFT’s atomic swap approach utilizes a “bond” or “collateral” posted by both sides to guarantee the payment. As such if one of the sides doesn’t deliver, they loose the bond which equals to the value of the swap. This approach avoids having to implement the same hash and time lock algorithms on both chains, and doesn’t require smart contract capabilities! This means that the atomic swaps become possible today without having to wait for all chains to agree on a standard and implementing it. Also because we’re separating the collateralized trade binding agreement from settlement, we can achieve fast trade confirmations to support the RTA payment flow. This is a BIG DEAL!

GRAFT Exchange Broker Usage and Models

GRAFT DEX will allow both individual direct exchanges as well as running an exchange broker as a business, supporting exchange transactions that originate at the point-of-sale or inter-network, broker-to-broker transactions. An exchange broker economic model would be based on buy/sell spreads and arbitrages, or preset margins, and could be automated using exchange broker client or other custom developed logic. EB_client_UI_mockup.png* Proposed EB Client UI. UI will be available for download in the coming weeks to collect feedback and flush out user experience.

Delivery and Timeline

DEX implementation leans heavily on the Supernode functionality that has already been built up for the RTA and staking. In addition, we have performed the proof-of-concept on most of the steps of the workflow so feel pretty comfortable with the feasibility.

We’re targeting GRAFT DEX with desktop clients and exchange broker to be ready early to mid October*, with early test versions available prior.
* this being fairly complex software development however, there’s always the possibility of slippages

More About Atomic Swaps and state of current state of DEX:

https://blockonomi.com/atomic-swaps/amp/

https://hackernoon.com/atomic-swaps-simply-explained-how-to-swap-cryptocurrencies-without-a-middleman-6cd29680c32e


The post Exchange Broker Network Layer and Collateralized DEX appeared first on Graft Blockchain.


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RTA Testnet Launch

image1.png

We’re extremely proud and thrilled to unveil Real-time Authorizations (RTA) and RTA testnet!

It has taken us a while to get here, but for a good reason! See, RTA doesn’t stand on its own – in order to get here, we had to do a lot of heavy lifting, creating and optimizing communication protocol, implementing staking, supernode quorum selection and many other things that provide a solid foundation for RTA and other network features. It has been quite a journey and an effort to get here, but that foundational work is mostly done and should serve us well as we roll out various network features and have a solid foundation and infrastructure to build on top of.

For those of you who are fairly new to the project, RTA is a foundational feature of GRAFT Network, which allows real-time payments to be done at the point of sale, something that traditional blockchains aren’t capable of themselves. Being able to have predictable transaction time is fundamental to having digital currency work at the point of sale. image2.pngThe other fundamental feature that RTA brings to the world of r/etail payments is predictable fees for the merchant and minimized fees to the buyer. Predictability (both in time and fees) and the overall smooth, point-of-sale friendly experience are key to having a functional payment network that can compete with traditional credit/debit payment networks like VISA, MC, Amex.

Testing RTA

We are rolling out RTA testing gradually, focusing first on basic functionality and ramping up the testing scope from there to focus more on vulnerability and performance (there will be bounty programs), followed by beta testnet, security audit, and finally mainnet.

You can follow the RTA install and configuration instructions if you’d like to participate in testing or just get some hands on with RTA

There’s also a QuickStart guide that the community has put together (thanks Tiago)

Next Steps

Launch of the RTA Testnet signifies a huge milestone for the project. There are still a few loose ends to tie up and few corners to polish, which will be doing in the upcoming weeks (including turning on improved communication protocol and blockchain based lists for quorum selection), as well as a sufficient period of testing followed by beta testnet, and mainnet.

While that goes on, we will be focusing our energies on ramping up the remaining critical element of the final network – an exchange broker ecosystem. We are looking at a pretty cool way of doing it, that has a great potential not only to create a robust interchange layer for the network, but also provide an additional strong use case for the network itself (yes, we’re talking about a cross-chain, collateralized atomic swap DEX. Details to follow..)


The post RTA Testnet Launch appeared first on Graft Blockchain.


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We often get asked what is the difference between GRAFT and some other project. Field of retail payments in general is a very large space ($14 trillion / yr) with lots of use cases, lots of solutions, lots of innovation, and lots of competition. Blockchain in particular has attracted a high level of interest (both legitimate and those looking to leverage the hype) when it comes to payments, with solutions focusing primarily on either creating a cryptocurrency that’s r/etail friendly, or accepting other cryptocurrencies at the point of sale. While GRAFT is starting out by addressing both of these use cases, the goal is to:

do it the right way (as in not compromise on principles where it counts) set up for large scale and high rate of growth set up for rapid expansion in use cases

With that said, we believe that a blockchain-based payment network has to have the following characteristics in order to provide the right basis and be scalable, robust, flexible, and universally appealing – it has to be decentralized for scalability and flexibility, open source for robustness and trust, fast, private “at rest”, open platform for flexibility, and currency agnostic for universal appeal.

Chart below provides a general idea of what makes GRAFT Network stand out from competition. The extra requirements is also reason why it has taking us significant time to do what we’ve set out to do as if it was quick and easy, others would have done it by now. GRAFT_competition_payments.png

Of course this list of competitors is not exhaustive, but it’s representative of the types of competition GRAFT is currently facing: 1) blockchains that allow real-time transactions in their own currency, 2) payment gateways attached to digital currency exchanges, 3) custom terminals with ERC20 based solutions. We had chosen Dash*, Spedn by Flexa, and PundiX** as representative of these categories, but could have chosen others as well.

*Notably, FB Libra could replace Dash in this table as it has similar properties.
** Not much is published about the design specifics of PundiX solution so we’re going off the fact that it’s ERC20 token based and as any smart contract has to be processed by the underlying smart contract blockchain. We don’t know how they accomplish transaction speed or multi-currency support given the underlying technology.

The post Competitive Landscape – How GRAFT Stacks Up appeared first on Graft Blockchain.


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Good day/evening/morning GRAFTers!

We wanted to start this engineering update by describing the work we’ve been doing on development methodology and processes. We continue to make steady progress towards improving transparency and openness when it comes to development practices, embracing community open source development model.

To that end, we have been migrating tasks and issues from JIRA, which is a closed development focused tracking/planning system to Github. Most tasks and issues are now in Github, and are open to the community to see and comment on. We have also added “projects” – Kanban boards representing the status of various sub projects: https://github.com/orgs/graft-project/projects image2.png

We have a number of tasks that are tagged as “help wanted” and are open to the community development, with GRFT rewards attached to them. You can pull up the “help wanted” tasks by running a filter. image1.png You can find the proposed community task guidelines here. We will be adding more community dev tasks in the near future.

If you know of capable SW engineers who would like to work on interesting problems and make a contribution to the project that has solid potential to improve the world, please refer them to the open community tasks.

Lastly on this subject, we would like to welcome to the team Nick Willson, @DaDudster on TG, who will help oversee the open source community development efforts at GRAFT. Nick comes to the project with extensive background in computer science, artificial intelligence, and a keen interest in the blockchain space. Nick has a PhD from RPI in Cognitive Science. Coordinating open source development is not a trivial task and we’re very happy that Nick stepped up to the challenge!

Here’s the recount of development progress over the past two weeks:

image3.png
image4.png

The post Engineering Update and Progress towards Community Development Model appeared first on Graft Blockchain.


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Bulletproofs Merge

POW4.jpg Yesterday the network was upgraded to “bulletproofs” version of Monero.

This is a significant upgrade that brings important new features and improvements to the network such as much smaller block sizes, multi-signature wallets, and better security.

The merge has been quite a bit of work and we’re excited to get this done as it paves the path to other network features on the roadmap.

Congratulations to the team and community. Thanks for the hard work!

You can find the latest 1.8.2 Release HERE





The post Bulletproofs Merge appeared first on Graft Blockchain.


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LoyalShopperGateway.png

Go-To-Market Strategy

We would like to think that GRAFT network will take off on its own given the technology and integrations that we’ve put in place and continue working on, however we think we can and should do more to enable getting initial traction in the market. As we are nearing the launch of Real-time Authorizations (RTA), it’s the right time to focus again on the Go-To-Market part of the plan, taking into consideration current state of the market and evaluating ways to drive the adoption. While GRAFT’s main mission remains the acceptance of any method of payment via a fully decentralized, service broker based network, we need to find quick path to adoption that will resonate with merchants and users alike, leveraging existing demand with the technologies we’re bringing to the table.

To that end (and to create an additional revenue stream to sustain ongoing development) we have decided to set up a separate commercial entity alongside GRAFT Blockchain that will perform a payment gateway function, providing online and brick-and-mortar merchants with loyalty rewards / gift cards / store credit / promotions, crypto payment, and standard payment capabilities. We are tentatively calling this service a LoyalShopper or LoyalShopper gateway.

Gateway Service Levels

We are looking for the LoyalShopper Gateway to be available worldwide across different verticals, although local regulatory realities may force further fragmentation of the service. We will start with online ecommerce implementations, specifically Shopify, followed by WooCommerce, and BigCommerce integrations. LoyalShopper Gateway will utilize GRAFT Network for crypto acceptance and Lyra Blockchain for the loyalty reward and gift tokens. Time frame wise, we target Loyalty part of the gateway service to be available in its first rendition in late July/early August, Loyalty + Crypto by October and Loyalty+Crypto+Credit/Debit by the end of the year or early next year. (We’re intentionally leading with loyalty functionality due to the least amount of external dependencies, broad appeal, and more straightforward integration within the Shopify framework).

LoyalShopper Gateway Functions

Loyalty Crypto Credit / Debit Cards
Issue and accept merchant tokens for loyalty rewards, gift cards, store credits, and promotions via LS provided checkout modules for specific ecommerce platforms.(facilitated by Lyra Sidechain)

Features: Portable tokens, instant transactions, persistent reward links, reversable grants for refunds, fungible and non-fungible merchant tokens. Integrations with Shopify and other e-commerce platforms in the future.

Price: packages range from FREE to $249/mo (depending on number of transactions and other added features)

Accept GRFT and other Alt digital tokens, currencies supported by GRAFT Network brokers.

Features: accept any digital currencies or other assets supported by the GRAFT Network exchange brokers, real-time authorizations, receive funds in fiat or stable coin.

Cost to the merchant: 0.7% to the GRAFT network (split between auth sample and proxy nodes) + exchange broker fees if applicable

Regular credit/debit card acceptance, with fees comparable with traditional credit and debit card payments solutions

Effect of LoyalShopper on GRAFT Network

LoyalShopper Gateway will utilize GRAFT Network for crypto payments and Lyra Blockchain for loyalty/gift/store credit/promotions and should drive the transaction volume on each network resulting in transaction authorization fees to the Supernodes (and Lyra nodes once Lyra is decentralized).

Of course LoyalShopper will not have any exclusivity when it comes to utilizing GRAFT network – it will just serve as an example; others are encouraged to set up similar value-added payment gateways.

Integration with Shopify

We have done the initial prototype merchant token integration with Shopify platform and have found that the most effective way to offer the loyalty / gift programs involves issuing reward and gift/store credit tokens.

When a shopper buys something from a seller, the seller can reward the shopper with some Reward tokens (“loyalty points”). The shopper keeps these tokens in their wallet until they are ready to redeem them, at which point these tokens are converted into Gift tokens which can be used at the checkout. The number of reward tokens per fiat unit is configurable by the seller.

While reward tokens are fungible, Gift tokens are implemented as non-fungible tokens because they have unique properties such as redemption code and expiration date. Gift tokens are created by the merchant during reward redemption or gift card issuing transactions, and burnt during gift redemption transaction (at checkout).

We will publish more information on the inner workings of the merchant tokens and integration with Shopify shortly.

Merchants:

Interested merchants may register HERE to express their interest and preferences, and to be notified of the availability.

As usual, we’re open to comments and ideas from the community!
For investment opportunities, contact invest@graft.network


The post Go-to-Market Strategy Update – LoyalShopper Payment Gateway appeared first on Graft Blockchain.


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Dev Update – WW17/18

DevUpdateWW17-18.pngScreen-Shot-2019-04-29-at-4.46.33-PM.png

We’re almost finished with the M13 merge – it has been a LOT of work – picking apart and putting back together a very complex and not that easy to follow code base that is Monero, following and retesting all the changes with the code we’ve added, but we’re pretty much there though with no blocker issues left at this point and only few non-blockers to get through.

Some devs are taking a break this week and part of next week for national and family holidays, so will push out the network update rollout until mid May when everyone’s back and are able to support any issues that might come up.

The post Dev Update – WW17/18 appeared first on Graft Blockchain.


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IMF published a twitter poll recently that higlights an very strong bias in people’s expectations when it comes to crypto usage: IMF_twitter_poll.png What’s interesting is the poll provides a perspective from a broader cross-section of the population than the ones who are the traditional staunch crypto-supporters. And still crypto comes out way ahead in people’s preferences.

Our own polling sheds some light on what could be behind people gravitating to crypto for payments: UsingCryptoAtPOSDrivers.png Of course in the critical path of adoption is the infrastructure for crypto acceptance and that happens to be one of GRAFT’s main missions in life. The merchants are looking for seamless integration, fiat (or stable token) payouts, and reporting capabilities. whats_driving_merchant_interest_in_crypto.png

It’s no secret that GRAFT is not well known around the cryptoverse and even less so outside of it, so it’s very important that we create awareness. We ask you too play your part, leveraging opportunities like the IMF tweet to highlight why GRAFT’s approach and the network it is building is indeed superior and absolutely required for mass adoption.

GRAFT Network is about REAL decentralization that yields flexiblity in adoption, a service broker architecture that provides a platform for various functions to be plugged in, integration with existing systems and workflows, and addressing the speed and fees issues present in crypto payments today. Please be sure to highlight these aspects of the network out there using these images or your own: GRAFTBenefits.jpg

newnew2.png

The post Another Wave of Crypto Acceptance is Coming – Opportunities to Evangelize GRAFT appeared first on Graft Blockchain.


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LYRA Update

We hit a big first milestone with LYRA DPoS architecture this week – a very early first proof-of-concept version was shown by Slava. LYRA combines delegated proof-of-stake (DPoS), private transactions, and chain collection (no single blockchain!). lyrapocv1.jpg Why are we working on LYRA now?
There are several reasons for that: 1) we’re in the field that is developing extremely rapidly and favors projects that not only deliver the functionality, but also (and perhaps most importantly) offer technology leadership. 2) A DPoS architecture will be useful in different ways over time, starting tentatively as a sidechain solution for merchant tokens / loyalty programs.

The post Dev Update – WW14 2019 – RTA, M13, LYRA appeared first on Graft Blockchain.


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Dear GRAFT supporters,

Q1 2019 was a very busy quarter for the GRAFT team, with the highlight being the launch the Supernodes on the mainnet in stimulus mode to establish a production-ready network and an upgrade of the mining algorithm. Both went down smoothly. The great news is we have got over 1,000 Supernodes launched and staked in under 2 weeks – it is a fantastic accomplishment and we would like to take a moment to congratulate the team and the community!

Let’s go over other progress and plans that will hopefully help bring things into perspective.

First, there’s the technology track – we are working hard on finishing up and releasing the real-time authorization (RTA) to the mainnet, tentatively end of May. Elements of the RTA (eg. staking transactions and sample selection) are already part of the supernode, pending further optimizations, as well as finishing up the point-of-sale ready RTA flow. We are doing some major internal rework on the clients as well to make them more robust and scalable – we should be able to complete that around the same time or shortly after. We have put out the reference versions of the exchange broker, payment gateway, WooCommerce integration, and are finishing up the payout gateway. We’re finishing a Monero13 merge, which is proving to be very involved this time around. Then there’s the early R&D work on delegated proof of stake (DDPoS) consensus algorithm to make sure that GRAFT stays the most advanced point-of-sale ready crypto payment network on the market, ready to face real-world scaling challenges and additional features like merchant tokens and loyalty programs. Needless to say – we have our hands full.

When it comes to market adoption – we’re not leaving it up the chance either. With 300+ merchants, 100+ merchant service providers, and 50+ exchange and payout brokers waiting in the wings to get started and with efficient channels to get to more, we want to make sure that GRAFT hits the quickest path to adoption possible. While GRAFT’s primary use case relies on facilitating payments with virtual currency using existing payment infrastructure, there are other use cases that could make the merchants act and deploy even faster. Among those are loyalty programs, store refunds, cash backs and cryptocurrency sales, end-to-end vertical solutions, etc. With your help and by conducting merchant outreach early, we can position GRAFT to be in the most advantageous position for market adoption.

We have started the rebranding effort in last quarter and are currently in the process of doing due diligence on availability etc of the names before we put it up for the final vote.

Getting Involved

There are three primary ways to get involved with GRAFT at this point:
  1. Become part of the infrastructure. You can run a supernode, become a merchant service provider, exchange broker, mine, or consolidate multiple of these options under one roof.
  2. Evangelize. Social media, local meetups, talking to and tweeting at the merchants – anything is fair game – we just ask you to keep the tone professional and thoughtful to convey the quality of the project.
  3. Put your creative hat on and roll up your sleeves. Help GRAFT network achieve market traction quickly by identifying (and if possible building) the functionality representing the additional use cases you can think of, no matter how small. We’re opening a section on the forum dedicated to the quick traction ideas – please participate.

Funding

You have been asking us about the financial status, and we would like to provide you with a bit of an update.

The most important thing is at this time we have the funding and budget secured for the core development efforts to deliver on the short and mid-term roadmap.

Investment / donation opportunities:

Opportunities remain to invest in GRAFT project with additional funds going towards marketing, liquidity (exchanges), additional dev resources, and new initiatives. If you are a qualified (accredited) investor who’s interested, please contact us at invest@graft.network and we will work to match you up with an appropriate investment option.

And of course we will never say no to project donations, providing you with lots of karma points (and an honorable mention on GRAFT site). To donate please send an email to info@graft.network and we will generate a unique donation address for you.

In closing

We have very ambitious goals for Q2 and beyond. Q2 should allow us to see complete end-to-end network in production. Beyond Q2, we will be focusing on filling out the network with service providers, adding user and merchant features and workflows, expanding support for various use cases, improving scalability. From the specific goals for this year, we strive to achieve 100k real RTA transactions this year and 1M next year, subsequently pushing GRAFT to the scale of traditional payment networks.

A lot of GRAFT’s success depends on the community – we rely on the community to stay engaged and active, providing meaningful contributions towards success of the project. The timing is right with the merchants and users around the world looking to add alternatives to traditional payments. The faster we’re able to execute, the more likely the project will achieve success.

And please remember – YOU ARE THE NETWORK! newnew2.png

The post GRAFT Quarterly Update – Q1 2019 appeared first on Graft Blockchain.


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CryptoNode v1.7.4

https://github.com/graft-project/GraftNetwork/releases/tag/v1.7.4

  • Fix Windows compile for libboost-1.69 (#266)
  • Fix segfault while syncing blockchain (#271)
  • Removed chatty debug messages while updating processing stake transactions (#272)

SuperNode v1.0.3

https://github.com/graft-project/graft-ng/releases/tag/v1.0.3

  • fixed shutdown while processing requests (#260)
  • changed error to warning for RPC requests from supernode to cryptonode during blockchain based list and stakes synchronization (#263)

The post New Update Release – SN v1.0.3, CN v1.7.4 appeared first on Graft Blockchain.


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Last night we published a report on Medum – Are Merchants Interested in Decentralized Payment Network – Why and What’s Standing in the Way?

The report is a summary of the Merchant Survey we’ve been running for a while and will continue to run in order to gain insights into the market and validate the assumptions we’re making as well as priorities we’re setting for the product development”

Enjoy the read – we hope you find the information useful.
“Claps” are appreciated as they help raise the visibility on Medium

The post Are the Merchant Interested in Decentralized Payment Network? – Survey Report appeared first on Graft Blockchain.


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DisqualificationFlowRFC.png A Disqualification Flow Request for Comments (RFC) has been published on Github:

https://github.com/graft-project/DesignDocuments/blob/disqualification-flow/RFCs/%5BRFC-005-DF%5D-Disqualification-Flow.md

Disqualification flow is a critical part of fair and optimum Supernode sample selection. Please review the current proposal and comment.


The post Disqualification Flow RFC appeared first on Graft Blockchain.


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  • HashVault Stats

    • Global Hashrate
      3.60 TH
    • Avg Hashrate
      2.49 GH
    • Total Miners
      1446
    • Miners Paid
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    • Total Payments
      1502111
    • Total Hashes
      9.23 EX
    • Blocks Found
      1646317
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