Proof of Stake Brings New Opportunities to Nine Chronicles

ChainPlay

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3 days ago

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Transition to Proof of Stake for Nine Chronicles

A Proof of Stake (PoS) mechanism is being implemented in Nine Chronicles, an open-source idle role-playing game. Along with enhancing the game's decentralization and fostering a more community-driven future, this modification offers advantages.

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Because PoS enables players to stake tokens, it enhances security and decentralization. In addition to rewarding players, this staking procedure protects the blockchain. By getting over the PBFT mechanism's scalability issues, the new technique allows additional people to join and support the network.

Attackers find it more difficult to compromise the system as the network gets stronger as more tokens are staked. Players acting as validators will enhance the network’s reliability and protect their assets. Economic incentives like staking rewards encourage community involvement and strengthen the ecosystem.

Source: X

The previous PBFT system reached its limits in security and performance when adding more nodes. PoS eliminates this issue. A larger number of staked tokens strengthens the network, requiring attackers to hold significant assets to breach security. Even if an attack succeeds, the attacker risks devaluing their holdings, discouraging malicious actions.

Roadmap for the PoS Transition

The PoS transition is set to roll out in phases:

• Q4 2024: Odin PoS launches. Recruitment for external validators begins, and players can start staking $NCG tokens to earn rewards.
• Q1 2025: Block rewards distribution begins. Early stakers receive higher rewards. New blockchain games under the same IP will launch, potentially increasing $NCG demand and user activity. The team targets over 100 million $NCG in staking volume by the end of 2025.
• Post-Q3 2025: Guild and reward upgrades are introduced. Guilds will become central to the game’s economy and governance, with rewards linked to staked $NCG and guild contributions.

Stakers will earn 4 $NCG per block as rewards, distributed as "Mead" that can be converted into $NCG. With 8,640 blocks generated daily, annual block rewards will total 12,614,400 $NCG.

Currently, users spend 350,000 $NCG monthly. The team plans to double annual token usage to 8.4 million $NCG with the new PoS system and additional web3 games. Of these spent tokens, 97% will be redistributed as staking rewards, while 3% will be burned.

Starting in Q4 2024, Planetarium Guild will be the only guild. By mid-2025, anyone can create guilds. Validators operating guilds will benefit from $NCG spent by players in their affiliated guilds. Rewards include covering gas fees with Mead and receiving 10% of the $NCG spent by guild members.

Guilds will also earn 10% of $NCG used by their members, with rewards sent to a collective address rather than guild leaders. Specific rewards will be available for guild activities, including arena battles, world bosses, and adventure bosses. This system encourages validators to engage with the community and fosters collaboration within guilds.

Final Thoughts

The transition to PoS marks a significant improvement for Nine Chronicles. It enhances security, decentralization, and community participation while offering substantial rewards for players. The planned updates aim to create a thriving ecosystem with active guilds and increased token utility.