Q3 Progress Report
Tags: Cryptocurrency, Bitcoin, Sustainability, Blockchain, Proof Of Stake

New Website

We’ve purchased BITG.org and are in the final stages of finishing the new site graphics and copywriting. You can see where the FAQ + guides will be hosted at learn.bitg.org. Trent and Jake populated it with some initial content, but there will be much more. The goal is to launch the new site by the end of August.

260K Hardfork and Protocol Upgrade

We successfully completed a hardfork which made 3 crucial upgrades to the protocol:

Allow for on-chain proposals not tied to block rewards for masternodes to vote on (the basis for the crowdfunding platform) Redirect transaction fees to stakers, instead of burning them (this creates long term economic incentives for staking in the network, after 21 million max BITG supply has been mined) Fix the 5% budget proposal mechanism (this will allow us to better fund our technology buildouts and growth of an open source developer community by offering bounties for contributions)

Read more here: https://medium.com/bitcoin-green/budget-proposal-governance-and-transaction-fee-update-9e9f9e96a531

Crisis Aversion: Chain Split Issue

We resolved an issue in the network that led to divided network, thanks to help from a number of key community members who came in clutch. The issues with chain splits, explorers on the wrong chain, and improper wallet staking behavior have all been resolved. We are very happy with the turn-around, the problem was identified and fixed within a 48 hour period of time.

Read more here: https://medium.com/bitcoin-green/chain-split-fix-5a98596f47a3

Mobile Wallet, Paper Wallet, Crowdfunding Platform

We’ve finished mapping out the technical requirements and specifications for the mobile wallet, paper wallet, and crowdfunding platform. We’ve brought on some additional developer talent from No Rest Labs to speed up the process. The goal is to release both the mobile wallet and paper wallet before the end of Q3, and the crowdfunding platform (which we haven’t officially announced yet) sometime in early Q4.

Roots Community Marketing Program

To further engage our community and help spread the word about BITG, we are launching a community-led, bounty-driven program to incentivize community members to help the project in whatever capacity they see fit. We are now finalizing the T-shirt/merchandise distribution and after that will be releasing an article outlining the initial bounties we are posting, merchandise that will be tied into the program, and a list of of events we want to represent at. Please submit any ideas or questions you have to the #ROOTS channel in Discord. Further, we’ve received a lot of emails and direct messages from individuals who have offered to help–all of these offers have been documented and we are now working through the backlog to mobilize everyone in the community who wants to get more involved.

Open Source Community Growth

Nearly all of Bitcoin Green’s wallet releases and tech developments have been handled internally up until this point. As our budget mechanism will soon be activated, we will have more resources to incentivize community-led development activities. We are now beginning an aggressive expansion of our developer community. We’ve been in touch with a number of community members who have been independently working on BITG projects and we are now in the process of unifying those efforts under the Bitcoin Green Github and rewarding contributors with BITG payments. We will also be releasing a public invitation to any developers in the community who want to join the effort. There is no shortage of improvements to be made and applications to be built!

Bitcoin Green Exchange

The plan for the exchange is to initially release a front-end with account sign up, community coin vote, and referral program functionality, in order to have something tangible people can share and start interacting with. There will also be a BITG reward and referral program for early account signups :). The goal is to release the fully functional exchange about 1 month after the initial front-end release. We are keeping tight lipped about details regarding name and exact functionality as we’ve been alerted to a few copy-cat exchanges trying to replicate what we are doing.

Team Additions

We’ve recently brought on Jake (Jake_BITGTeam#3104) and Matt (Yogi#9765) to help with the community marketing program/operations, as well as Noah (bluepp#5991) to help manage our Github and lead some of our protocol development efforts. Much of the core team was sourced from the community, so if you are interested in getting more involved, please reach out to anyone with a green name in Discord or email info@bitg.org! When the new site is up, there will also be a few additional advisors who will be announced.

Odds and Ends

There are a few other developments to keep an eye out for regarding new team members, advisors, exchange listings, and partnerships that will be announced only if and once they are finalized. Stay tuned!