Good day to our entire $PAC community,
The last few months have seen $PAC undergo some pivotal changes, both in terms of raw coin design and the inclusion of various new advisers, ambassadors, regional translators and more.
The most recent update of course was version 12.6.0 and the migration to protocol 70215 which included mitigation tactics against 51% attacks whereby (in a nutshell) the chain issues penalties for invalid block submissions (unwanted forks) – meaning that 51% attacks whereby a person or group attempts to control more than 50% of the mining hash in an attempt to create invalid coins to then be ‘dumped’ on exchanges, essentially can’t happen, not without investing considerably more resources, time and money into doing so.
This change was necessary as many projects in the space have been hit lately. With $PAC taking the initiative to launch a countermeasure, ahead even of its father project DASH, shows how committed the team is to ensuring $PAC is and will remain one of the most secure payment networks in the industry.
Over the next few weeks/months the development team are focusing on some key areas:
- We are starting the Dash back-porting process in order to catch up with the last 1 1/2 years of Dash enhancements/features, this accounts to a few thousand commits. Our approach to the back-porting: instead of back-porting commit by commit, which normally would be a time consuming and painful process.
We are opting to re-base our code with the current Dash repo, which will make all the necessary changes to the $PAC network and release that instead.
This approach should save us weeks, if not months of work. As a result we’ll need to update the Electrum wallet, mobile wallets, we’ll need to rewrite the desktop wallets and duplicate what we did for the previous release with the new skins which are to be released soon.
- Since implementing v12.6.0/70215 we have been experiencing minor chain forks, which are triggering the new 51% attack mitigation response. Whilst this shows that our new code is working and penalizing the invalid chains, it’s not stopping the chains from splitting in the first place, which seems to be bringing nodes down off the network.
This issue is by no means affecting the vast majority of nodes like previous ‘attacks’ have done but it’s still something we’d like addressed so that these infrequent issues become a thing of the past.
A potential fix for this could be to implement the new 51% attack fix that Dash is releasing in 14.0 which is currently in test net. This involves LLMQ-based chainlocks. You can read about this in a blog post here.
- We are opening up the discussion to our community about the possibility of shifting Masternode collateral from 500,000 $PAC to 1,000,000 $PAC. The decision is not final and we are very much in the discovery phase of this to account for all potential pros and cons associated with the change.
The scale-ability of the network is something which needs to take priority as $PAC is still at only 6% of it’s total design. With over 7,000 nodes on the network at an adoption rate of 57% of circulating supply. This network size becomes almost too large in 3,5,10 years time.
From the conversations we have had internally before posting this article, we have found that the positives of increasing the collateral to 1,000,000 $PAC far outweigh the negatives, there will be a separate blog post about all of these positives and potential negatives coming out within the next week. Until then we welcome all feedback on our social channels. Please be involved and send messages to the team.