Genesis

Summary of Changes

Lotus will be based on the Bitcoin ABC codebase and specifications, with the following changes upon initial launch.

Genesis Block

A new genesis block will be used. Lotus is not a fork of the blockchain, but is using the Bitcoin codebase.

Difficulty Reset

Due to starting fresh, the difficulty will be reset to a target of 1 initially similar to the original Bitcoin launch.

Removal of Activation

Due to the fresh start of the blockchain, all activation code for previous soft and hardforks have been removed. These features will be available from launch.

Magic Values

The diskmagic, and netmagic will be changed to the following values:

  • Diskmagic: ldsk with most-significant-bit set.
  • Netmagic: lgos with most-significant-bit set.

Economic adjustments

The block reward will be 260 megasats per block + half fees. The other half of fees will be discarded. Additionally, this reward will be split between miners and developers evenly. The development reward will be shared between a variety of projects and determined every 6 months by the Logos foundation.

Blocktimes

The target blocktime will be reduced from 10 minutes to 2 minutes. This allows faster confirmations, and has been requested for for Bitcoin ABC for a long time. Additionally, it reduces block variance significantly.

Enforce all standardness rules as consensus

Currently, Bitcoin variants have relaxed constraints on what is acceptable in a block versus standardness checks. Lotus now enforces all standardness checks on new blocks as well.

Edit this page on GitHub Updated at Sun, May 15, 2022