Mission accomplished! A bit earlier today, on this 1st of February, 2022, the Particl blockchain has successfully hardforked and activated Taproot!
The hardfork also includes other items such as a fix to the dynamic marketplace listing fees, the addition of dynamic supply (the blockchain adjusts its circulating supply whenever PART gets burned), and an improvement to the SMSG network which allows for more messages to be funded from a single transaction.
To see the first post-hardfork block (
#1,113,123) , check out this link.
While this hardfork mostly improves protocol-level components and back-end processes, it brings the ability for Particl applications (i.e., Particl Marketplace, BasicSwap) to gain more privacy and cost smaller transaction fees.
Taproot—More Privacy, Less Fees
Taproot introduces many new features and capabilities, notably in the area of privacy and output management. It improves the privacy and fees of Particl applications like Particl Marketplace and BasicSwap due to the better processing of their complex transactions. You can learn more about Taproot by following this link.
Increase the maximum size of data outputs
This improvement to the SecureMessaging (SMSG) network allows for more data-containing messages to be broadcast (paid messages) per single transaction, making the P2P network more efficient.
Fixing Dynamic Marketplace Listing Fees
On Particl, any staker can influence the size of the listing fees on applications like Particl Marketplace. By setting up fee targets, they can broadcast to the rest of the network that they want listing fees on Particl Marketplace to be either higher or lower.
However, the feature that allows for this ability had been broken ever since reaching a certain target value. In fact, at some point in the past, the fee target amount dropped below a particular threshold and the code didn't allow it to change anymore (up or down). This hardfork fixed that issue by clamping the minimum amount it can change to 1 sat, making the feature functional and allowing stakers to adjust listing fees again. Check out this blog post to learn how you can help reduce the marketplace listing fees.
Adding Dynamic Supply
This new feature reduces the money supply whenever outputs are burned. This effectively adjusts the total supply based on the number of coins that get burned. This prevents staking rewards to be generated based on a supply value that still counts burned coins. It also ensures a correctly adjusted and dynamic staking emission rate. This feature is intended for future use.
Re-enabling disabled outputs
The hardfork also re-enabled a small number of disabled outputs from people who had missed the previous deadline. If you still have disabled outputs and haven’t put up your claim yet, please do so as fast as possible by following the steps mentioned here. If approved, it will be added to the whitelist and will be re-enabled on the next hardfork.
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