diff --git a/_posts/2022-08-28-avalanche-post-consensus-launch.md b/_posts/2022-08-28-avalanche-post-consensus-launch.md new file mode 100644 index 0000000..d4084c4 --- /dev/null +++ b/_posts/2022-08-28-avalanche-post-consensus-launch.md @@ -0,0 +1,89 @@ +--- +layout: post +title: eCash Avalanche Mainnet Launch +subtitle: Post-Consensus to go live on Mainnet on September 14th 2022 +multiLangId: 2022-08-28-avalanche-post-consensus-launch +lang: en +--- + +![Avalanche Post-Consensus Mainnet Launch](/img/avalanche-post-consensus-mainnet-launch.jpg "Avalanche Post-Consensus Mainnet Launch") + +Avalanche Post-Consensus will go live on the [eCash](https://e.cash) Mainnet on Sept 14th. This was [announced](https://twitter.com/eCashOfficial/status/1563813874775851009) by Amaury Séchet, founder of the eCash project, at the [Electronic Cash Conference](https://2022.be.cash) in Prague. + +The launch of Avalanche Post-Consensus on the eCash Mainnet is a significant achievement. Post-Consensus brings 51% attack prevention which increases security of the network significantly, bringing it on par with leading Proof-of-Work chains. It also brings 1-block finality to eCash, which opens the door for exchanges to enable 1 confirmation deposits. + +Avalanche Post-Consensus also sets a solid foundation for further enhancements to eCash, such as Pre-Consensus which is currently being developed. Future work will continue to improve the properties of eCash as global electronic cash. + +When the [launch countdown timer](https://avalanche.cash/) reaches 0, the status of the eCash Avalanche implementation will +change from "Incubating" to "Live". This milestone was achieved via long and technically challenging work. + +## What does "Incubating" mean? + +Incubating is a period where the Avalanche Post-Consensus features are feature-complete, +but still require testing and shakeout by the team. Several rounds of live testing by the +Bitcoin ABC team resulted in several fixes and improvements to the Avalanche Post-Consensus implementation. +For more details on the improvements made during the Incubation period, see our Avalanche Development Updates +[here](/2022-05-02-avalanche-development-update) and [here](/2022-08-03-avalanche-development-update). + +The Incubating period is also a time to prepare Avalanche nodes to ensure sufficient +quorum for the launch on Mainnet. It is important to have enough nodes and staked coins. +This will set up the network for success. + +## What will happen when the countdown reaches 0? + +At the end of the countdown, Avalanche Post-Consensus will be considered live on the eCash network. +This means that there will be sufficient nodes running the protocol, with sufficient XEC staked, +for the protocol to run reliably and securely. + +Additionally, Bitcoin ABC 0.26.0 will be released. This release will include the `-avalanche` parameter +as a standard node-configuration option. This means that Avalanche Post-Consensus will be ready for anyone +on the eCash network to use. It will still be off-by-default, and considered an optional feature. + +## What is Post-Consensus? + +Post-Consensus is named that way because it is dealing with blocks *after* they are produced by miners. +By contrast, pre-consensus is when the Avalanche protocol is used by nodes to come to consensus on +transactions *before* blocks are produced. + +With Avalanche Post-Consensus, nodes can come to consensus on the current status of blocks that +are visible on the eCash network. In other words, it allows nodes to know that the blocks they see are +also accepted by the rest of the network. This information can then be used to defend the network against +block withholding attacks, and blockchain reorganization attacks. + +After Pre-Consensus is implemented in Bitcoin ABC, Post-Consensus will also be used to reject blocks that +include transactions that conflict with transactions that were finalized via Pre-Consensus. This will +allow users of the eCash network to benefit from near-instant transaction finalization, with confidence that +finalized transactions cannot be reversed. + +## What comes next? + +In the coming days, more information and tutorials about how to stake your coins and run Avalanche +Post-Consensus will be released. + +Looking farther ahead, the next milestone for Post-Consensus will be to make the protocol run "on-by-default" +in the node's configuration settings. This will be activated after sufficient monitoring of Avalanche +Post-Consensus running as an optional setting, and it has proven to be reliable and stable. + +In the meantime, development of further eCash Avalanche capabilities continues. Upcoming capabilities include +Pre-Consensus for near-instant transaction finality, and staking rewards to incentivize the provision of Avalanche +node services on the network. + +## About Avalanche + +Using a fast consensus protocol to do Pre-Consensus has been a long-standing item on the +[eCash Roadmap](https://e.cash/roadmap-explained) (and previously on the Bitcoin Cash roadmap). +This is one of the improvements needed to power eCash to be a competitor and alternative to +Central Bank Digital Currencies (CBDCs). When the [Avalanche whitepaper](https://ipfs.io/ipfs/QmUy4jh5mGNZvLkjies1RWM4YuvJh5o2FYopNPVYwrRVGV) +appeared in 2018, eCash founder Amaury Séchet and the Bitcoin ABC team recognized that this new +protocol was what they had been searching for, as it fulfilled the needed requirements. + +It should be noted that eCash's Avalanche implementation is completely separate and distinct from the +AVAX Avalanche project. They have no connection, other than both using the protocol described in the +Avalanche whitepaper. Avalanche on eCash is an entirely new implementation which had to be developed +from scratch by the Bitcoin ABC team. + +In the case of eCash, Avalanche consensus is used for fast and live consensus needs, such as fast +transaction finality. Proof-of-work based Nakamoto consensus is retained where it is superior, +providing objective consensus criterion to enable decentralized node bootstrapping. + +For more info and to monitor development progress, see [Avalanche.cash](https://www.avalanche.cash/) diff --git a/img/avalanche-post-consensus-mainnet-launch.jpg b/img/avalanche-post-consensus-mainnet-launch.jpg new file mode 100644 index 0000000..429a38f Binary files /dev/null and b/img/avalanche-post-consensus-mainnet-launch.jpg differ