The Next Stage of Providing Development

The Bitbon System Social Network[i] is developed in accordance with the Roadmap. This process is continuous and includes both the launch of new infrastructure elements and the development of existing services and components of the Bitbon System[i].

One of the base services of the Bitbon System is the providing[i] service, which allows ensuring the economic, legal and technical decentralization of the Bitbon System by providing a certain number of Bitbon units owned by the User[i] and resources of proper quality. Providers[i] being Registrators[i] ensure the economic and legal decentralization of the Bitbon System by recording deals in the Bitbon System in order to confirm a legal fact by achieving consensus using the Community PoS algorithm.

At this stage, Users can connect one or more Assetboxes[i] to one or more Registrator pools. In accordance with the concept of ensuring economic and legal decentralization, the next stage of the providing service development is associated with the transition to the account[i]-based providing model. This means that only one Assetbox will be selected to connect to the Registrator pool in a User’s account.

To ensure a smooth and efficient transition to the next stage of the providing service development, a 34-day preparation period of this base service functioning in the Bitbon System will begin on September 7, 2022.

During this time, Bitbon System Providers being Registrators will be able to select an Assetbox, which will be identified as the Assetbox for providing in the accounts of the Bitbon System Users after the preparation period. For this purpose, an algorithm has been developed to reorganize the structure of Registrator pools in the Bitbon System. If a User has one Assetbox of a Registrator registered at the beginning of the preparation period, it will be automatically selected for using in providing after the end of the preparation period. If a User has several registered Assetboxes of a Registrator, the algorithm will by default select the Assetbox that meets the following criteria:

• the Assetbox that was the first connected to the Registrator pool and has not been deleted;
• the balance of the selected Assetbox is equal to or higher than 0.001 bitbons.

As part of the preparation period, Users can change the Assetbox that was automatically selected by the algorithm. To do this, Users should go to the “Balances” page in the “Assets” section of the One Space website. There will be a graphic element, a “bar”, which displays already selected Assetbox. If the Assetbox was selected in another service, information about it will be displayed in the bar. On the same page, the User will be able to select another Assetbox, which will be defined to be used in providing after the end of the preparation period.

At the end of the preparation period, a special algorithm will reorganize the structure of Registrator pools in the Bitbon System from among Assetboxes selected by Users to be used in providing in accordance with the following principles:

• Assetboxes selected to be used in providing will be reconnected to the higher Assetboxes selected by other Users in accordance with the current structure of Registrator pools in the Bitbon System;
• other Assetboxes of Registrators that were used in providing and were not selected within the preparation period will be excluded from the structure of Registrator pools of the Bitbon System.

After the preparation period is over, a new stage of the providing service development will begin, which will allow a new level of economic and legal decentralization of the Bitbon System Social Network.