Dynamo Coin Proof of Stake Timeline

On June 9, 2022, the Dynamo Coin community overwhelmingly voted in favor of adding Proof of Stake security to the Dynamo mainnet chain. The vote was truly unique because it was done completely on chain in a decentralized, anonymous and transparent way. Anyone could (and still can) verify that valid votes were cast by the holders of coins and that the number of coins voted was verifiably correct. The total coins voting to add proof of stake was about 95%.

Modifications are required to three components of the Dynamo ecosystem: the full node, the miner and the web wallet API. An additional new fourth program will be developed to allow QT wallet users to stake and unstake from a command line utility. It is not currently planned to modify the QT wallet GUI to allow for staking, however anyone is welcome to do so.

Following is a tentative timeline for development:

> Finalize technical spec: June 13, 2022

> Complete modifications to full node: June 24, 2022

> Complete modification to miner: July 1, 2022

> Complete web wallet API and command line utility: July 8, 2022

> Deploy operational testnet: July 11, 2022

> Upgrade mainnet: August 15, 2022

Although no issues are currently expected, the above timeline could be delayed due to unforeseen technical issues discovered during development.

Starting in the next couple days, mainnet github repos will begin to have updates related to this development and will therefore be unstable / experimental. As always, only release tagged builds should be used for fullnode or miner deployments.

The Dynamo Foundation will provide frequent updates on the progress of development and will seek community help with launching and verifying testnet and ultimately transitioning to mainnet.