Apr 24, 2017PIVX v2.2 Fixes Wallet and Brings Back Budget System

The latest mandatory update of the PIVX core wallet comes with wallet problems fixed and the blockchain based budget system as part of the continuous effort by developers to improve the digital currency.

The update comes with Masternode payment enforcement has been enabled which means after block 615800 all other Masternodes running any version less than PIVX Core Wallet v2.2 will not receive payment, other changes include:

  • Budget system has been enabled
  • Syncing the blockchain should be quicker.
  • Most reported DB corruption issues has been addressed.

Budget System Returns

The budget system which is the blockchain based treasury that allocates 10% of every block reward for proposals aimed at developing the currency, voted on by the Masternode operators has returned after being offline for a while. PIVX run into a bug after the transition from Proof of Work to Proof of Stake which affected the process of paying out passed proposals which has now been fixed in v2.2.

This means developers and contributors can be motivated to do work which would ensure efficiency and meaningful development in the ecosystem. It also presents a chance for other stakeholders in the PIVX ecosystem such as merchants, exchanges, debit card providers, e.t.c to also propose various integrations of the currency that would drive more adoption.

For Masternode operators, it means they can now vote and participate in the decision-making process of the project right from their wallets as the latest update, v2.2 has added this functionality and this development also lays the foundation for the proposed Community Designed Governance.

Wallet Problems Fixed

The major bugs that have troubled wallet users have been addressed in the latest update. With v2.2 the wallet synchronizes with the blockchain at a faster pace and the blockchain database corruption issue has also been worked on.

This means wallet updates are faster and more efficient and staking is smoother now that database corruption has been checked making the new core wallet, friendlier to new users.

At block 615800 Masternode payments enforcement is will be turned on therefore Masternode operators are advised to update their wallets in order to provide their services and receive payments, all users are also encouraged to update their wallets to enjoy the features of PIVX Core Wallet v2.2.