Hello steemit friends. In this post I will go over the GRAFT network at a high level. Note that GRAFT will be rebranding in the near future. The new name has not yet been chosen. The complete GRAFT ecosystem is beyond the scope of this post. Instead the purpose of this post is to
- Introduce GRAFT
- Familiarize you with GRAFT Supernode
If you want more details, head over to their website and or join their telegram channel.
Website: https://www.graft.network
Telegram: https://t.me/GraftNet
GRAFT, which stands for Global Real-time Authorizations and Fund Transfers, is a blockchain project aiming to be a leader in the payment industry. GRAFT will function similar to credit card networks with off-chain authorizations. Along with having their own point of sale(POS) app, GRAFT is working with Verifone and Ingenico to integrate the GRAFT POS. GRAFT also plans to have in-network atomic swap, along with service brokers to allow customers to pay with their currency of choice while allowing merchants to receive their prefer currency. All this can only be possible if the GRAFT network can guarantee and perform real time authorization. This is where Supernodes come in.
GRAFT is built on the Cryptonote protocol(GRAFT has it’s own mining algo referred to as CryptoNight v8 Reverse Waltz) with a Supernode second layer. Similar to Masternodes, GRAFT Supernodes require a stake. GRAFT Supernodes have four tiers, each tier requires a different amount of GRAFT to be stake. Head over to https://www.graft.network for more information. GRAFT Supernodes have a different incentive structure from traditional Masternodes. GRAFT Supernodes do not get part of the block reward, instead Supernodes will receive the POS transaction fee when selected to participate in the authorization sample.
GRAFT Supernodes have been in development for some time now. The Supernode release was originally planned for mid 2018 but was delayed. Supernode alpha public testing finally released on Novenber 12, 2018. With the community’s support, Supernode development has come a long way and is now ready to go live on the mainnet. The mainnet release is schedule for block 308460 on March 20th around 14:00 GMT. Because Supernodes only receive POS transaction fees, and GRAFT’s POS will not be live when Supernodes first go live, the Supernodes will release with a stimulus mode. The stimulus mode will reward Supernodes as if the POS was live, along with helping the dev team flush out bugs and vulnerabilities in the workflow. Check out the GRAFT blog for more details on the stimulus mode https://www.graft.network/2019/03/11/rta-mining-release-and-stimulus-plan.
If you are interested in setting up and testing a GRAFT Supernode on the testnet, you can hop onto their Supernode telegram channel(https://t.me/GraftSuperNode), and ask an admin for testnet GRAFT. There is also a simple step-by-step Supernode setup instruction for the testnet(https://github.com/graft-community/docs/blob/master/Graft_Supernode_Testnet_Simple-step-by-step-setup-instructions-for-non-Linux-users_v1.7.md). If you want to buy GRAFT for the mainnet, https://tradeogre.com/ is the most popular exchange. At the time of this writing GRAFT is trading for 160satoshi. Look out for a new or updated step by step guide to setup Graft Supernodes on the mainnet.
Do you own any Masternodes? Are you interested in GRAFT? Do you know of any other payment network projects? Let me know in the comments.