Why expand POS?
As the encryption cycle iterates, most networks composed of POW nodes find it hard to achieve economic realistically and environmentally friendliness. Most computing that competes for incentives is nonfunctional and has limited ability to guarantee network transmission.
Therefore, more and more projects turn to POS. They are expanding their POS range to reduce the community nodes’ technical threshold, attract external ecosystems, increase full nodes staking amounts, and augment external service nodes amounts.
In addition, the computing platform nodes can be switched and transmitted to the professional networks to enhance the underlayer’s transmission function and prepare for switching to the metaverse network and computing platform in the next cycle.
What will happen after the switch?
Significant Drop in Token inflation rate
The headline inflation is expected to fall to 10% of original
Reduce Tokens’ circulation
Plenty of Tokens will flow into the staking pool, and the staking income will be disclosed in the following.
Increase the amounts of full nodes providing RPC services
The full nodes that provide RPC services can receive more benefits, and monitoring measures will be deployed to ensure service quality.
Added Computing Platform that provides professional network transmission and computing
A new business direction.
Increase interoperability and compatibility with other ecosystems.
A combination to join other ecosystems with tokens and applications.
Timing and Plans
The change will start with the interface.
Switching will be a long process. The new changes will start from the interface, including wallet compatibility, Fortress upgrade, and cross-chain bridge upgrade.
The interface modification is supposed to be finished in 3–6 months.
Then, upgrade the mainchain’s staking function.
The next step will upgrade the mainchain’s staking function, staking pool application, and RPC nodes management pool application.
The service may have a short-time interruption for upgrading main functions during this period. EVA aims to complete the economic model changes without any service terminations.
Finally, all miners and users staked in Fortress will complete the switch.
EVA miners and users staked in Fortress will have sufficient time to know the upgrades and future roles in the new ecosystem. Even if they do nothing during the POS switch period, EVA provides the protection and access to users’ original staked assets, which still can obtain staking income.
The detailed upgrade documents will be disclosed in succession. EVA will systematically and safely complete the upgrade to protect your assets.