The deadline for registering a Remme masternode has now came and went. As of Thursday October 18, we are no longer accepting applications for our masternode program. We’d like to thank everyone who applied throughout the submission period and to share some details on how it all played out.
Masternodes are a critical part of REMChain and the distributed PKI ecosystem we’re building around our blockchain, and thus it was crucial that we got this step right. Masternodes will be operated by the new improved version of our consensus algorithm, developed by our R&D team and Remme Research Lab to meet all of the network’s unique specifications and provide a fair distribution of rewards.
For the past three weeks, applications have poured in to join our masternode program. We can now reveal the following numbers:
- The total sum of stakes, according to the quantity of masternodes, is 191,000,000 REM (approx. 32% of the current Circulating supply).
- We fielded applications from 50 countries.
- The country with the most submitted applications was USA — 14% of applicants cited it as their country of residence. The United Kingdom was in second place with 10% of applicants.
- 59% of all applications were received in the first five days.
- 70% of all applicants participated in tokensale (according to the information provided, which will be reviewed and verified).
What happens next?
It’s going to take us a couple of weeks now to process the applications we’ve received. Bear with us while we work through them, and we look forward to updating you at the beginning of November. We’ll reveal the results of the masternode program by notifying all applicants by email. Additionally we will make an announcement on our social media, so stay tuned!
Meanwhile, in the first week of November we will be presenting our new consensus algorithm. We’ve been working on it for three months and will be extremely excited to present the heart of our blockchain.
Thanks once again for everyone who registered, and to the entire Remme community. As always we value your support, curiosity and probing questions and we can’t wait to update you on the next stage of the project’s development.