Subspace Network, now rebranded as Autonomys, is a pioneering blockchain platform that addresses the limitations of traditional blockchain systems by integrating decentralized storage, computation, and AI capabilities. Its unique Proof-of-Archival-Storage (PoAS) consensus mechanism allows participants, known as farmers, to contribute storage space to secure the network, promoting decentralization and scalability. This approach ensures data integrity and availability, making it suitable for storing large amounts of AI-related data.
Stake Wars Phase 3: Harvesting Resources
On December 6th, 2023, the Stellar Community launched Stake Wars Phase 3: Harvesting Resources, marking a significant advancement in the network's potential. The event recognized community contributors like .wezl and sparks60, and highlighted updates on Gemini 3g and Nova, showcasing network growth and stability. Jim Counter emphasized the importance of nominators in Phase 3, who support operators and share in transaction fee rewards. The call featured insights from operators and a guide on how to nominate using different interfaces. A runtime upgrade was also initiated live, increasing the number of nominators per operator.
Community Engagement and Tools
The Subspace community has been actively contributing to the network's development. Innovations include zulkis9066’s impactful Prometheus metrics addition, wolfrage’s farming monitor dashboard (Subspace Farmer Thingy), rahuls2302’s SS lock monitor, jrwashburn’s Python SS Log Event Monitor, vexr._’s Sector Time Trackers, and hakehardware’s Subspace Plot Report. These tools enhance network monitoring and user experience, reflecting the community's commitment to the project's success.
Dynamic Issuance and Economic Updates
In December 2024, Subspace introduced a dynamic issuance system to ensure a sustainable economy for its blockchain. This approach involves a gradual decline in block rewards over time, similar to Bitcoin's model but with a more subtle decrease to minimize disruption. Additionally, the network implemented a storage-based consensus mechanism that adjusts rewards based on on-chain activity demand, ensuring farmers are adequately incentivized during varying network conditions.
Impact in December 2024
December 2024 was a transformative period for Subspace Network. The successful launch of Stake Wars Phase 3 demonstrated the network's growing stability and the community's active participation. The introduction of dynamic issuance and economic updates showcased the project's commitment to a balanced and fair ecosystem. Collectively, these developments have strengthened Subspace's position as a leading platform in decentralized storage and computation, paving the way for future innovations in blockchain and AI integration.
Read more: https://medium.com/subspace-network/december-2024-end-of-month-report-1facc345f022
