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Phase 3 Fenomy Blockchain testing

Published Nov 21, 2022 06:33
Last update May 12, 2023 12:56

The 3rd phase of testing

The goal of the 3rd phase is to test the effectiveness of all system tasks. Currently, there are 2 types of tasks, creating blocks and confirmation of blocks.

The new tasks are tied to transaction confirmation. These tasks can only be completed by those members who fully comply with the conditions to do so.

Also being implemented are types of transactions depending on their importance. The more important transactions require blocks that were created and confirmed by members with high indexes. These blocks are valued higher and will generate more income.

The level of trust for system members is dynamically determined and relies on:

  •  stability of members in the system
  • the percentage of confirmed blocks to the amount of created block
  •  the speed at which you validate your blocks
  • reputation
  • system reward balance

The terms of trust are:

  •  Reputation – more than 700 points
  • system reward balance – more than 100 points

*these terms may change over time, we will notify when there are further updates.

If you don’t meet the conditions, rewards for completing network tasks will remain until January 1, 2023, but will be significantly lower.

In addition, the stability of the participant and efficiency in the network will affect reputation – it can increase or decrease. The requirements to participate in transactions of high importance will grow and change over time.

If you plan to grow with our system - work on your reputation and other indicators. Even now, the higher the indexes, the higher the system rewards become. Using multiple profiles becomes less advantageous than using one with high index scores. The use of many profiles becomes inefficient because the system may refuse to assign tasks to these types of profiles. New tasks will become available as soon as the app update roll-out.

Team updates

We are going through a planned increase in staff. Over the past month, two more developers have joined the team and are already successfully fulfilling their duties. We are waiting for two more specialists who will start work before the end of November.

We are also negotiating with our partners. 

Fenomy Team reserves the right, at its discretion, to change, modify, or remove portions of the announcements at any time by posting the amended version on the website.

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