Hard Fork 26 and Resource Credits Delegations

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Those of us who follow the blockchain core developments are anxiously awaiting hard fork 26. While we haven't received any communication in that sense, it won't happen in July, maybe not even in August, since many are taking vacations during that month. Maybe September then?

Hive

At some point, I wanted to write a post that compiled a list of features and connected tools, dapps, and frameworks that will come out with HF26, whether they need a hard fork or not to be released.

It was a surprisingly difficult task, as there isn't one place where you could find them in, as far as I know, and I checked the github project too. I guess the 'easiest' method would be to go through blocktrades posts since he started posting about HF26, which would be quite a while ago. And the core devs recordings. Easy, right? :)

Anyway, the work wouldn't be justified with so little time before the official announcement will come out, where the list of features should be presented.

Resource Credits Delegation

Today, I want to talk in particular about the Resource Credits delegations (RC delegations, in short). There is another very good post on the topic written by @taskmaster4450 a few days ago, and that would be a very good starting point, as I don't want to cover the same ground.

We've heard many times about the importance of RC delegations for big projects, for improving the onboarding process, and for driving value to RCs and therefore HIVE (power). All great points.

I just realized last night how important RC delegations will be for personal accounts management, as well.

Improving Personal Accounts Management with RC Delegation

So, like many people on Hive, I have more than one account. Currently, only this one is for posting, but in the past, I posted on my gaming account and had an account where actifit content went.

Besides that, I have my gaming accounts (one main, and others I use every once in a while, if ever), my staking account (where my HP goes), and a few other accounts, including the ones I just started creating for holding Splinterlands rental cards by different categories.

My main posting account has the majority of the HP. Not directly, but delegated from the staking account, for an additional layer of security.

What I use is the voting power from that HP, besides posting. I proxy governance voting to my staking account, and I generally don't play games with this account (but that's not always the case), so I use it less for posting custom JSONs.

But I would have always almost full RCs, just by using it this way.

To not waste those RCs, I auto-claim 'free' accounts with it, when it gets close to 100%.

But that can change.

For example, my gaming account only publishes custom JSONs, but quite a lot of them. So I have HP delegated to it. Once RC delegations are available, I could use that HP on my posting account for its voting power, and delegate RCs to my gaming account to have enough to broadcast custom JSONs.

The same goes for my Splinterlands rental cards account(s). And basically for any account that only broadcasts custom JSONs or other transactions, but doesn't use its voting power.

Why is it about the voting power and not about any other operation, including publishing posts or wallet transactions?

Because curation rewards are based on your HP, owned or delegated to you. Everything else only needs RCs. Including governance voting, you can proxy it to the staking account, so you don't directly need HP if you have a separate staking account that does the governance voting.

So in my case, among my accounts, this one (@gadrian) would be the only one to receive HP delegation from my staking account. All the others would receive RC delegations because they don't vote.

What Does This Mean?

By concentrating HP on accounts that curate, the total active curation stake on Hive will increase. That also means the curation rewards APR will decrease.

Every other account should only need RCs to work, and having HP, directly or delegated to them won't be more useful. Again, governance voting can be proxied to a holding account for HP.

The decrease in curation APR should be compensated by the likely additional market that will form around the RCs delegation.

Posted Using LeoFinance Beta



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31 comments
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That's interesting.
I wonder if RCs will need to be continual topped up, or if they will just refresh?

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No, RCs replenish over time. However, each blockchain operation has a cost in RCs. If those costs go up, then one needs more RCs to do the same number of operations. If one has plenty of RCs, this may not count at all, if one has a low maximum RCs, this can immediately have an impact.

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Okay, you may need to delegate more RCs over time as costs go up. Thank you 🙂

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We are going to discover when the hard fork 26 will become a full reality.

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For most people, we'll discover this when interfaces include RC delegation operations. But I expect websites like hive.blog, peakd, and ecency to have them very quickly.

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Thanks for keeping us updated on this Adrian. Im keeping a close eye on this for sure.

Posted Using LeoFinance Beta

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Still some time until the hard fork, by all indications, Steve. But I wanted to write this now before I lost my train of thoughts.

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i created a hive lite account with the leofinance app, do you know how i can get the keys to the account? or it is lost forever!?

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what I hope will happen is projects will reward RC delegators with tokens/Hive. That would make the native token even more valuable.

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Yep, that will most likely happen (possibly not right away). But besides that, there are some other use cases like the one I showed in my post, where RC delegations can be useful for regular users.

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yup, I red those but not all of us have a gazillion accounts :P

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Something to think about with my 4 accounts. !LOLZ
Thanks for sharing!
!PGM

Posted Using LeoFinance Beta

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Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 15 SBT tokens to @stdd, @gadrian

remaining commands 1

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-2.5 BUDS-0.01 MOTA-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

image.png
Discord image.png

Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

I'm a bot, if you want a hand ask @ zottone444


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What did the doctor say about the tall person in a rush to see him?
I wish you were a little patient.

Credit: reddit
@gadrian, I sent you an $LOLZ on behalf of @stdd
Use the !LOL or !LOLZ command to share a joke and an $LOLZ
(2/2)

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Why not? You can use it for two accounts too.

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I don't understand the need for RC delegation. Why not just delegate HP?

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Because HP also comes with voting power (and how it's used if delegated to people you don't know). RCs don't.

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Thanks for all the information. I wish I had your knowledge about the blockchain.

Posted Using LeoFinance Beta

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I wish I had your knowledge about the blockchain.

Knowledge is subjective. Others know much more than I do. And someone who just joined knows less than you do.

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Currently, I'm delegating 500HP just because of this, because I can't delegate RCs to my other accounts than I running SPK and Ragnarok nodes on and are posting custom JSONs every few minutes or so. I have the means and I was thinking of setting up more nodes for both networks but this was the main reason I have not done it already, I didn't want to drive even lower the HP from my main account.

SPLENDID NEWS! Voted on ListNerds!

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I think RC delegations are ready for some time. But they chose to release them at the same time as the hard fork.

And yes, your situation describes very well how they can be very useful once we have HP and RCs separated.

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I think the RC delegations will be quite nice and people won't have to take a hit to their curation either. This will make it easier to push the responsibility for the applications to power up enough Hive to support their users transacting on the game.

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They can also borrow RCs from other users in exchange for some type of compensation, and so creating the conditions for the RC delegations market to emerge.

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RCs delegation

Is this going into the peakd.com frontend?

IDK man, I think 26 hardforks and still not upvoting truth content. Are you going to hivefe.st??

Posted using LasseCash

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