It's no secret, over the last few months, the PAC Global Development team has been extremely busy working on game changing advancements. Related to the depth of these developments, the entire PAC Global team insisted that detailed information be made available to our loving community and we all remain open and responsive to share this great new technology. We're honored you’re taking the time to read this exciting announcement filled with both education and information on how IPFS will improve our lives, now.
First, it’s important to discuss a remarkable vision that lies within the PAC Global Network and its massive web of decentralized servers.
It’s commonly understood that centralized storage is unwise, related to it being risky and unsafe. Centralized entities create too many single points of failure and increases the cost for security of data. A solution to this is a decentralized network, which is designed to eliminate single points of failure and provide superior performance.
The PAC Global Network consists of near 10,000 Masternodes, all required by the network to maintain optimal network connection 24/7. Not only does PAC Global boast impressive transaction speeds for the native PAC, but with its 24/7 Masternode layer of the network, it allows us to explore the use cases capable of being supported.
Welcome to the Yan Network. The Yan Network is a private IPFS Network supported by the PAC Global Holdings LLC operating Masternodes. This Network is capable of being supported by each Masternode without interfering with the necessary resources to maintain the PAC Global Network activity.
For the Yan Network’s initial release, each node will provide roughly 500MB of data storage capacity, and we are already exploring options as to how more resources can be dedicated to the Yan Network to increase storage capacity. With each individual server supporting the PAC Global Network and the Yan Network, it creates a web of decentralized servers all contributing to a data storage/sharing network. As more servers connect to the Yan Network, more storage capacity is created allowing the abundance of resources required to support any product, project, or use case needing a large decentralized storage network.
The first product that’ll be supported by the Yan Network has already been in development and has been lovingly termed ‘YanDNA.’ YanDNA was an honorary name given by PAC Global Directors after one of their lead product developers. The finished product will be web based and allows users to experience enhanced file storing and sharing with friends and family, or personal, private, business purposes. This product impressively has the ability to encrypt files, or allows public accessibility.
Many have stated the YanDNA project can be viewed as a progressive alternative to popular options for data storage and file sharing needs.
Similar to the PACapp release, we are putting in all our efforts to debut a visually stunning and effortlessly simple to use UI. We are aiming to have seamless technology where the use of a blockchain product feels just as natural as current, yet dated, alternative storage solutions.
As PAC Global and Yan Network blossom and expand together, the amount of storage available can become limitless. This vast space capacity can provide endless companies and projects the storage solution they have desperately been needing and praying for. This merely showcases one of the many provided benefits within the PAC Global Network. A truly decentralized network can not be purchased, a decentralized network only exists because the users decide to support the network.The infinite value within a decentralized entity is unparalleled once a proper use case is introduced. The crypto community is confident in the PAC Global Network and excited to see the performance showcased while supporting the Yan Network.
There will be a public version of the Yan Network released where any individual can connect a masternode server or a personal server to provide resources. This will be released separately so that the PAC Global Network can provide a community supported version and a PAC Global Holdings LLC version. Both networks will be supported by the LLC. However, public access to the private network may not be possible for certain use case requests. Companies may request our Yan Network for their storage needs and it may require smart contracts with verified masternode owners. In the future we aim to make this possible for all, so anyone can verify their ownership of a Masternode and provide the necessary resources reliably. This would undoubtedly help grow the capacity our network can offer, but with over 3500 Masternodes already connected to the Yan Network, provided by LLC operating managers and verified partners of PAC Global Holdings LLC we are confident we have already achieved optimal security and reliable uptime. We have roadmapped more strategic partnerships, so they can acquire their own cluster of Masternodes to strengthen the decentralization of the network and grow the capacity of the Yan Network.
PAC Global is technologically mature, yet blockchain technology is still in its infancy. With a large established network, one could assume it has taken ample amounts of time to grow. However, the blockchain technology used to grow the PAC Global Network launched in February 2018. In the last two years, many changes, updates, and innovations have resulted in a stable network with optimal performance. Noting the youth of blockchain, technologists look forward with excitement and anticipate the possibilities of growth within the already existing large network as more nodes are collateralized for service.
After many discussions with our team and development leaders, we are grateful to present our next PAC Global Network update. There have been some minor bugs reported over the past months that our development team has been keeping on top of.
Additionally, there are some proposed changes to the inflation of the native PAC. Here is a short but descriptive breakdown of the upcoming PAC Global Holdings LLC update.
Since our last update, the OCB layer of the PAC Global Network has not been performing as it should. There have been 5 OCB cycles that have already passed their scheduled blocks, but an error in the code has prevented the OCB from initiating. We have decided to address this bug, and make sure the coins are generated and sent to the proposal address/owner. In total, 840,686,520 PAC will be generated since they were already decided to be dispersed through the OCB. Thankfully, moving forward we should not have to experience a faulty OCB, and proposals can continue forward.
After analyzing the current PAC Global Network, we have decided to propose and offer a few changes.
At current rate, the PAC Global maximum supply is scheduled to be completed in over 24 years from now. This seems very unnecessary as the same if not more can be achieved with a lower supply. The maximum supply for the PAC Global Network has been reduced to 50 billion in this update. With this new maximum supply, it gives the PAC Global Network the possibility of 100,000 Masternodes.
Growing the PAC Global Network has always been an important driving factor. The larger the network, the more capacity it can support. Our goal is to grow the PAC Global Network to as large and as decentralized as possible. This only happens with us bringing in more strategic partnerships, and the community/ user base naturally growing. Nonetheless, individuals need to decide to collateralize a masternode and provide resources to the use cases supported. People are the most valuable part of a decentralized network, because without them there is nothing of value.
Contributing to the larger update previously mentioned, the rewards per block for the remainder of the PAC Global Network will NOT change. There will not be a change in rewards for Masternodes, PoS, or Superblock. Masternode rewards will remain at 8280 PAC per reward, and PoS rewards will remain at 100 PAC per reward for the continuity until max supply.
At average block time and inflation rate, 50 billion supply should be completed in roughly 12.3 years. Of course, supply may be much lower depending on the network decision for each OCB cycle that passes. Each month a OCB cycle is available to submit a proposal and be rewarded the amount of coins requested IF the Masternode owners agree that the proposal is worthy of payout. However, the amount of coins each month for this OCB opportunity is capped at 168,137,304 PAC. These coins are ONLY created and ONLY sent to proposal owners IF and only IF the Masternode layer of the network votes the proposal above the YES threshold needed.
Voting takes place in each Masternode owner's personal wallet, so there is no possibility of tampering an owner’s vote. For an example to make sure this is explained correctly, in a one-year period there will be 2,017,647,648 PAC available from the 12 OCB cycles that occur in a year. If zero proposals are accepted by the network, those coins will never be created which then gives us a new max total supply.
The gorgeous UI/UX wallet developed by one of our lead developers, Yan, is near completion. In fact, the only thing delaying release is this update. Upon completion of this update, PACSafe will be released. This will include the easiest method for connecting a Masternode to the PAC Global Network for those that struggle with the traditional method.