PAI News ? - May 25, 2020
- We are planning another AMA Live Stream focused on Proof of Useful Work (PoUW). It will be held on Friday, June 12 at 8 PM Beijing Time.
- Withdrawal requests will be approved on an ongoing basis from now on. If you request to withdraw PAI Coin worth more than $50 USD, you will receive an email reminding you to double check your withdrawal address. ? We don’t want you to lose your PAI Coin!
- The PAI Coin Pool Referral System has been a huge success! ? Check out the statistics below. Thank you to everyone who is participating. Keep it up to earn more PAI Coin Referral Rewards!
(More) ? Frequently Asked Questions
Proof of Useful Work
As an owner of PAI Coin, how will Proof of Useful Work benefit me?
As mentioned in last week’s newsletter, Proof of Useful Work introduces a new type of user—a requestor—to the ecosystem. Most cryptocurrencies only have one type of user, transactors, who use the coin as a currency, whether for sale or trade or in exchange for other items for purchase. Requestors, on the other hand, will be able to submit requests for computations to be performed by PoUW miners.
This ultimately means that PoUW will enable PAI Coin to serve a dual purpose: (1) As a typical cryptocurrency, like Bitcoin, Ethereum, and many others, and (2) as a computational platform… one specifically geared toward intensive processing such as for Machine Learning, Data Mining, or Artificial Intelligence.
Keep in mind: As long as transactors are using PAI Coin, PoUW miners will be running computations anyway, in order to verify transactions. By submitting useful work as a requestor, two things get accomplished at once (transaction verification + the requested useful work). This should result in a comparatively lower cost to requestors than if they had performed the useful work in a more typical fashion, such as on a centralized cloud computing platform.
The potential of PoUW to define a next-generation blockchain computational platform should excite any PAI Coin owner or enthusiast. Because the goal is to support arbitrary on-chain computations, the possibilities and potential scope of applications are virtually limitless.
Remember — If there’s something else you want to know, just ask on PAI Forum!
PAI Weekly Updates ?
PAI Coin Pool
Last week, the team worked on an interactive UI to show progress in ongoing promotions. This allows you to see how much more PAI Coin you need to stake or how many more Lucky Hashes you need to mine in the time remaining, in order to earn a promotional reward.
This week, the team is building a feature to give you more insight into the popular Referral System. When this is complete, you’ll be able to see the following statistics in your Profile or via an optional weekly email update:
- Number of Tier 1 & Tier 2 Referrals you’ve generated
- Total PAI Coins Earned via Referral Rewards
- Total Bonus PAI Coins Earned from Promotions
- Total PAI Coins Staked
- Total PAI Coins Earned from Staking
- Your Percentage Contribution in the Staking Pool
- Total Lucky Hashes Mined
- Total PAI Coins Earned from Mining
- Where you rank compared to other miners
PAI Hybrid Consensus
Here’s a snapshot ? of some of the commits / PRs by our developers last week:
- Completed stake versioning https://github.com/projectpai/paicoin/pull/304
- Implementing getstakeinfo Remote Procedure Call (RPC) https://github.com/projectpai/paicoin/issues/299
- Implementing additional VSP support for automatic voting, including extended vote capabilities and adding necessary unit tests https://github.com/projectpai/paicoin/pull/303
PAI Forum & PAI Pass
The PAI Forum is currently being tested by community members. Latency and accessibility is being assessed. With good results -- it is hoped that the new PAI Forum will be launched in a matter of days.
PAI Pass has had a number of front-end improvements this past week. PAI Pass users can now easily lookup PDP2 transactions via paichain.info , retrieve a torrent file with a transaction id, send their data to a PAI address, and manage their data subscriptions. Improvements to Oauth 2.0 data management have also been included in the latest release.
Questions? Comments? Feedback?
Sound off on PAI Forum! ?
Thank you for your support!