Since last summer the Gulden community is entangled in discussions on how to move the coin forward. Since the development team released the long awaited Pow2 release there is an increasingly growing eagerness of wanting to make some other core changes. This in an attempt to make to coin more desirable to investors and to reflect more on it’s store of value principle.
The discussions heated up to new levels lately on how to shape Gulden’s future. Since Gulden is a decentralized project, home to a diverse community with all kinds of personal interests, one can imagine the vivid discussions being held. Some argue that witness rewards should remain the same, because they are locked in the witness system, others are advertising for a supply shock by halving the total supply. And so on. It has been interesting to follow the arguing and solutions being presented by numerous people.
But as said, Gulden is a decentralized project. Does that mean it can’t make any changes? No. It simply implies that a majority needs to be found for any proposal. The community has the Gulden Advisory Board as their representatives. These nine people will advice the development team on the communities wishes. But after changes are made in code, users installing the apps have the final word and power to halt any changes by simply allow an update or refuse it. It would be a waste of time to build such an update if most in the end would not appreciate that and would refuse to update. So the GAB is trying to get as much info from the discussions as it can. Not only by participating in these discussions, but also by means of polls like we have seen last week.
All lead to a first draft for a proposal for a change. Link below.
In short the proposal vows for a total supply cut from 1,68 bilion to 750 milion coins in roughly 80 days. No burning of existing coins. A halving every four years, and a reward cut into 20 miners/30 witness/70 development listing and marketing. This would mean the rewards are cut by 25% in 80 days and then halved every four years.
They are now planning it cleverly in a way that Gulden halvings are timed a few months after the Bitcoin halving, so they fall right into the bull market. Since halvings within bull markets probably gather more attention than halvings in a bear market.
Just wanted to get you guys up to speed on this proposal. Please, engage with the community on Gulden’s official Slack channels for more details.