Hey everyone, DW here.
I just wanted to write a quick update about my apps and nodes regarding the upcoming HF26. I'll divide them throughout the post so it's an easier read. But first, a topic that concerns everyone.
RC Costs
One of the biggest changes that affect all users on Hive is the algorithm for RC calculations. RC is the abbreviation for "Resource Credits" as you may know, Hive does not have transaction fees like Ethereum, Bitcoin or other blockchains; in other words, all transactions are free -- however, this is in italics because of RC.
Account creation on Hive technically costs Hive (for the sake of simplicity, I will be skipping the existence of account tokens, which can be claimed with RC), and all accounts have a "starting RC" equivalent to the account creation cost. Usually, a brand new account can get started by posting a post, receiving their first upvotes and usually, the post reward is enough to cover their RC costs for the next few posts. Or the account creator usually delegates some starting HP. RC, as opposed to transaction fees of other blockchains, regenerates over time. That is why it is called mana; similar to video games, it simply regenerates if left on its own. The best way to obtain RC is simply powering up Hive and never bothering with the initial posts etc. However, the next hardfork shakes things up quite a bit.
As you may know, custom_json or transactions that help you interact with Hive-Engine sidechain or other apps on Hive is quite popular. But the RC algorithm did not reflect that. HF26 introduces a new calculation that will result in increased RC costs for these transactions. Therefore, you will require more RC.
Currently, to get RC, you need to have more Hive Power. With the introduction of HF26, the ability to delegate RC to others (instead of Hive Power) will be made available, but even then, that might not be enough if you are a heavy user.
TLDR: With HF26, it'll cost more RC to transact. If you do not have the Hive Power or the RC to cover these costs, you will stumble upon a lot of "not enough RC" errors.
Apps
FRIDAY, BSCBridge, Swaps and other apps I am developing and managing on Hive are slowly being patched for HF26. Most of the features in these apps have already been patched or do not require any updates for HF26. However, the parts that require some tweaking will be finished this weekend and hopefully be ready by the time for the hard fork (which is going to be October 11th, most likely).
API
api.deathwing.me is still the most popular (or the second most popular, depending on your perspective) API node on the blockchain. I am happy to announce that the node is faster and stronger than ever, with more nodes being added into a high-availability, load-balanced cluster.
Currently, 1 in every 3 calls is routed to a hardfork 26 node. With the HF date coming closer, this will switch to all calls being routed to HF26 instead, so if you are not hosting your own node for your app and using mine, beware, as HF26 changes might affect your apps if you are not prepared for them.
All nodes in the cluster, after HF, will be serving all data using the brand new HAF infrastructure/framework. We'll see how it goes :)
That's it for now. Let me know if you have any questions.
Take care!
I hope the RC delegation feature will mitigate the RC problems. This could otherwise be potentially a huge problem for onboarding and retaining new users
In fact, I believe that it will be easier. Since delegating RC is much less "punishing" for the delegator (i.e. losing out on curation rewards) while delegating RC directly is much more beneficial. New user has enough RC to get going while the delegator does not lose out on any rewards. Most of us have quite a lot of RC anyways.
That's the best scenario I think. But I wonder how thus will work in practice. For example I would like to delegate 90% of my RCs to minnows to help them but I don't want to do that manually. Do you think there will be a an app/bot to help in that? And is anyone building it?
I know that RC Pools (which was basically what you said) is scrapped for now (maybe in the future), so there'd be a need for posting authorization, I do not know if anyone is building the app that uses delegated RC (by gaining posting authorization) and then forwards it to minnows.
I am building something though, that should help minnows.
Hope someone does as otherwise minnows won't really profit from it. Thanks for clearing that up
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Looking forward to the RC delegation, hope there will be a market for this too, like dlease.
I guess this means that new users should be more careful when spending their RCs. Or the people who invite them here need to delegate more. I don't think someone with 100 HP here will have such problems. Of course it depends on how much the RC cost will increase. I guess we will find out in time.
Unless someone is doing a lot of
custom_jsontransactions, I don't think it'll be that noticeable.Are their already transactions going through Hivesigner to HR26 nodes? The reason I ask is yesterday I was getting a lot of transactions being declined, I even tried to re-import my keys but it didn't help. The reason said Internal Error and something with RC in the name, I didn't know if it was something on my side or if it was something inside Hive.
I like the idea of being able to delegate RCs to newbies, that should actually be easier than delegating HP. Will the undelegation have the same 5 day waiting period or is it going to be different?
Also, nice to finally "meet" you Deathwing 🙂
I do not know, Hivesigner is maintained by good-karma, however, I do know that there were some issues with Ecency RPC (which hivesigner uses by default) so that could be related.
RC delegations/undelegations are instant, but when you undelegate RC from a user, you don't receive the unspent RC back, but rather your "maximum RC" increases, so it'll regenerate over time. (the previously delegated one)
Thanks for the update, do you have any numbers on how much the cost of RC goes up for custom JSON, I do a lot of those on a tipping bot account.
!ALIVE
It all depends on the traffic of the network at the time on top of the size and amount of custom_json you're pushing. So there is no way to say "X amount per transaction"
Thanks, currently the bot account has about 4 or 5 times the RC it needs, and not all of that is spent on custom_json as there is also quite a bit of comments too.
!ALIVE
@deathwing! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (6/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
@deathwing! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (2/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
If anyone want to check how RC Cost is performing they can check
https://hiveland.live/rccost.php
Hey bro, will this affect the recharge rate as well? I think 100 HP gets approximately 20M RC recharged per day?
Recharge is still the same.
This sounds like an interesting wrinkle and absolutely I can see that us needing to really invest in ourselves to be able to continue engagement at normal levels happens to be an amazing idea!!!!
Thank you very much for your work on this and we can't wait to see the further evolution of our blockchain!
This is good ... thanks for the explanation.
Thanks so much for all of your work 🙌 About how much HP would someone who trades all day need?
This post has been manually curated by the VYB curation project
I am looking to launch a game on Hive in 2023 and doing some research on RC costs.
Do you know of a market for direct RC delegations? If not do you know someone planning to build such an app?
Is there an easy way to convert the RC costs we get from rc_api.get_rc_stats into actual Hive or USD prices? I mean how much equivalent hive power do you need to do a transaction every 5 days.
If there isn't an easy way, is someone tracking or publishing daily averages of transaction prices in Hive Power or USD equivalent?
I am interested in posts, comments and custom_jsons only, any answer would be a big help!
I don't know if there's any.
1 HP = VEST = RC // In other words, 1 HP's worth in VEST is also it's worth in RC.
No.