Starcoin 2.0: Revolutionizing with PoW DAG. Join our Testnet to experience efficient mining!

Starcoin
4 min readFeb 1, 2024

Hi, Starfam!

This is a momentous occasion for us! We are excited to announce that Starcoin is gearing up for the 2.0 upgrade! In celebration, we are introducing the FlexiDAG testnet mining event. We invite you to join us and experience the ultimate features and outstanding performance brought by the Starcoin 2.0 network.

We have prepared exquisite NFTs and lucrative STC rewards for you. Simply participating allows you to claim rare NFTs, and there’s a chance to win exciting STC prizes!

FlexiDAG represents the latest innovation in Starcoin 2.0, elevating blockchain technology to new heights. Let’s rediscover Starcoin together:

1. Transaction Speed Boost

FlexiDAG combines a Directed Acyclic Graph (DAG) structure with enhanced PoW consensus, achieving a remarkable 17x increase in throughput and efficiency while ensuring network security.

2. Parallel Block Generation

The network introduces parallel block generation, allowing simultaneous creation of multiple blocks added to the network. This significantly reduces block generation time, achieving a 10x speedup compared to 1.0 and realizing true second-level transaction confirmation in Starcoin 2.0.

3. Dynamic Resource Adjustment

FlexiDAG dynamically adjusts block generation time and network resource allocation based on network transaction volume. This ensures stable and efficient network transactions without wasting resources.

4. Balancing Parallel Processing and Security

FlexiDAG’s strength lies in its ability to identify a highly interconnected subgraph of uncle blocks, ensuring that only legitimate blocks with robust connections are added to the blockchain. This parallel approach not only enhances scalability but also defends against malicious attacks.

Starcoin 2.0 has many more highlights for us to explore. Join the Starcoin 2.0 FlexiDAG testnet mining event and be part of this important moment for Starcoin!

Event Time:

February 1, 2024, 08:00 PM ~ February 15, 2024, 08:00 PM (UTC+8)

February 1, 2024, 04:00 AM ~ February 15, 2024, 04:00 AM (PST)

Event Rules:

1. Deploy a Starcoin 2.0 testnet node to participate in the mining activity and earn points.

2. Mining points are positively correlated with the test tokens earned through mining. However, to ensure fairness and encourage widespread participation, there is a daily limit of 2000 points per user. Points are calculated according to the following formula:

Test tokens <400 receive 1.5 multiplier

Test tokens 401~1000 receive 0.8 multiplier

Test tokens 1001~4000 receive 0.2 multiplier

Test tokens >4001 receive 0.1 multiplier

For example: If user A earns 1200 test tokens, the corresponding points would be calculated as follows: 400*1.5 + 600*0.8 + 200*0.2 = 600 + 480 + 40 = 1120.

3. You can also invite friends to participate and receive a 15% mining points reward for each of them.

4. After the event concludes, by reaching just 1000 points, you can enter the lottery for a chance to win grand $STC rewards. The more points you accumulate, the larger the reward.

5. The STC points obtained through participating in the activity are on-chain points with features such as composability, traceable sources, and public transparency. STC points will serve as a significant metric for participation, activity, and contributions within the Starcoin 2.0 network, playing a crucial role in the future development of the project.

6. Additionally, all users participating in the testnet mining, as essential contributors to the community and witnesses of Starcoin 2.0, can claim FlexiDAG NFT rewards after the event. FlexiDAG NFTs will be utilized in future marketing activities and community initiatives.

Categories of Winners and Reward Conditions

  1. Super Promoter: Invite 5 or more people
  2. Hashpower Superman: Rank among the top 10 in obtaining test tokens from mining
  3. Glory Miner: Participate in activities and obtain test tokens

Early Adopters and Super Miners Bonuses:

  1. Early Adopters: Wallet addresses established before May 18, 2022, and that have held more than 10 STC, will receive a 1.2x bonus on mining points. Additionally, they will benefit from a 20% bonus on points for each miner they refer.
  2. Super Miners: Those who earned bonuses via this week’s Twitter/X activity will also enjoy a 1.2x bonus on their mining points during participation.

Participation:

Deploy a Starcoin testnet node, follow the specific tutorial.

Invite friends, participate in mining, follow the specific tutorial.

Reward Distribution:

The list of winners will be announced within 5 days after the event ends and distributed to the mining addresses.

Notes:

1. It is advisable to use existing addresses for mining participation.

2. To ensure fair participation, network monitoring is in place, ensuring the activity takes place in an open and fair environment.

3. Any actions that involve harmful methods to the community in participating in the activity will result in disqualification.

4. During the event, please do not trade test coins to avoid statistical omissions.

About Starcoin

Starcoin provides the utmost security from the origin via its enhanced PoW consensus and Secure smart contract, using the language of Move. Through layered and flexible interoperability, it optimizes the building of ecosystems such as DeFi, NFTs, Gaming, etc., with higher efficiency and convenience. This process redefines value by empowering every participant in the ecosystem to enjoy the multiplication of values.

Follow Starcoin on social media to stay up to date with all the latest developments.

Website | Twitter | Medium | Telegram | Linktr.ee

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Starcoin

Starcoin is a proof-of-work blockchain that enables secure smart contracts based on Move to power services in Web 3.0