MyAltcoins Monthly Recap – What Altcoins Did (In May 2020)

Every month we compile MyAltcoins Monthly Recap covering altcoin happenings of the previous month and publish a preview on Twitter. Our email subscribers receive the full version straight to their inbox at the beginning of every month – free of charge. This month, however, we are publishing a full version as a blog post as well so that everyone can see what they can expect to receive every month. Enjoy.

May packed its bags, and it’s time to look back and check what altcoins did during these turbulent times. Spring is in full force, and most teams have fully adjusted to working from home and started developing vigorously. Find the recaps in no particular order below.

Nyzo (NYZO) – 9 Software Updates

  • May provided a bumpy ride for Nyzo. Lots of stuff happened, so let’s dive right in!
  • Month started with a Chrome extension code release which will facilitate sending tips to website owners. Near the end of May, it went live on Chrome web store. The extension provided one piece of the tipping puzzle. The other (server) part was provided by Angainor who released a Nyzo WordPress plugin.
  • In total, 9 Nyzo verifier updates were released.
  • v586 is important and all verifier operators are encouraged to update, as it contains important changes that affect verifier earnings.
  • Did you know that Nyzo devs need to pay for 14 TB of traffic per day? Well the above mentioned version will allow them to keep costs under control.
  • Community initiated 77 cycle transactions that were designated to award Nyzo core devs for their work. Unfortunately, the community didn’t expect that cycle transactions would fill blocks and overload cheap verifiers that most of the cycle was running. As a result of storage requirements rising, many verifiers ran out of space and dropped out. Weakness always gets replaced by strength so don’t forget to keep your verifiers in shape for the benefit of yourself and cycle as a whole.
  • Month ended on a much brighter note as Nyzo Desktop wallet was released and Ledger integration was announced. Both are worked on by community devs who were on absolute fire in May. Let’s not forget about archive node written by Monk and new Nyzo explorer by Iyomisc.
Nyzo wallet screenshot showing default display
Nyzo Desktop wallet

Zano (ZANO) – Mobile Wallet Beta

  • In May Zano announced the first public beta version for the mobile wallet. The app was written from scratch by Zano team and after all, it is their first public beta, so users are warned it likely has some bugs. They are urging their users to be careful, back up their seed phrase and be ready for some syncing if they open a file that has had a lot of transactions. The mobile wallet was the focus of the Zano team this month.
  • Sowle released a research paper covering the topic of auditing supply and wallets on blockchains that are based on CryptoNote protocol.
  • Zano team held interesting AMA on Discord at the beginning of the month (9-May-2020).

Bismuth (BIS) – Distributed Battery Monitoring

  • A new distributed app has been developed with the aim of monitoring battery parameters, such as temperature, charging current, battery level and health status for Android. The dApp uses the Bismuth public blockchain to store battery data and uses a second layer asset protocol.
  • If you own a Tesla car by chance, you can also monitor its battery performance using the open-source Bismuth Tesla plugin that works alongside Tornado wallet.
  • Mobilenewsflash created an elegant introduction video explaining key features of Python blockchain platform for BIS newbies.
  • Tornado wallet received an upgrade of core libraries while Docshield read-only functionality went live on a public website.
  • Bismuth devs collaborated with Idena community developers and implemented a variation of the Bisurl concept as Idena URL.
  • Let’s finish with an interesting supply metric: around 26% of circulating supply is locked as Hypernode collateral.

Zel (ZEL) – Big ZelCore Announcement

  • Zel is hosting a competition with a 25k Zel prize pool. It started in the last week of May and ended on June 1st. Congrats to all the winners!
  • Version 0.60 of ZelFlux has been released. Some changes include bug fixes, app preparations, better flux network creation and various improvements. Users are encouraged to update.
  • ZelLabs has added a solo pool for Zel.
  • Recently the Zel team published an article named Zel, the Evolution. It’s a great overview of where Zel is and where it is going.
  • The Zel team announced the largest update to ZelCore and ZelCore+ to date. By the name of Andorra la Vella, this update brings brand new dapp, new ZelNode controls and some other options.

Idena (DNA) – 8 Software Updates

  • 8 software updates were released in total including one hardfork.
  • Updates were mostly focused on protocol improvements and fixes with a few UI changes. Fork incorporated SPAM protection and flip qualification improvements.
  • One of Idena app updates added Idena sign-in function which allows logging in at third-party websites with the Idena identity.
  • Idena is sponsoring the GitxChange Hackathon. If you are a developer you can participate in Idena challenges.
  • Community developer Davey created the Idena voice website for voting and creating proposals.
Big typeface on white background
Idena voice
  •  There is an ongoing Bitcointalk signature campaign. Check here for more details.
  • The latest validation ceremony didn’t go as usual. A bug surfaced and the network wasn’t incorporating blocks during validation. As a consequence, roughly half of identities have failed validation. Developers are investigating the problem and a fix will be released. There will be no rollback or reimbursement. Identities that managed to pass validation enjoyed significant invite rewards and higher mining rewards due to a lower amount of nodes.
  • There is an ongoing Flip tournament on Idena Discord in the finals stage. Prize pool is 1250 DNA!

BitCash (BITC) – TradeOgre Listing

  • New CPU mining option was added to the Windows wallet. If you enable the new feature, the wallet will mine the MCB coin with the Power2b algorithm on zergpool.com and auto exchange the MCB coins into BitCash.
  • BitCash Dashboard went live. There you can find all the stats and info about BitCash network and supply metrics. The hash distribution shows that the BSOD pool has the majority of the network hash rate. Please try to move your rigs to other pools to help spread the power more evenly.
BITC graphs and statistics on the dark background
BitCash dashboard
  • On a related note, BSOD pool added support for mining directly to BITC Gold/Dollar which some miners that want to tame volatility will appreciate.
  • Community dev Ratstang developed BitCash tip service which website owners can implement on their websites and accept BITC tips or payments. Cryptocurrency checkout account is required.
  • BitCash was listed on TradeOgre and trading commenced on May-24. \o/
  • Near the end of the month, Christian released the second node update that fixed a few bugs that concerned mining pool operators. The update also increased block reorg rule to 50. It should prevent forks when large blocks occur.

Banano (BANANO) – Camo Banano Light Wallet Release

  • Camo Banano Light Wallet was released, It is a Banano privacy layer.
Camo wallet interface with bananas and monkies in the background
Camo Banano Wallet
  • Kalium v2.1.1 was released for Android. There are some big changes under the hood, make sure to update!
  • Banano passed 10 million blocks. Congrats!
  • Banano is nominated in the ‘Blockchain Awards’ in the category ‘Best Community’. So far they are in the lead!

Mochimo (MCM) – CMC Listing

  • Mochimo is now a tracked listing on CoinMarketCap.
  • The team didn’t have a lot of significant updates this month, however, they did say they are currently working on the following initiatives: updating the block explorer back end, releasing real-time charting data for the Mochimo network and release of the mobile wallet beta. So we are looking forward to future updates!

Loki (LOKI) – Session Tuning

  • In May 2018, Loki first went live on mainnet. Happy second birthday!
  • All service nodes operators were encouraged to update to v7.1.9. That is if they don’t want to be decommissioned. This was a mandatory upgrade to fix problems which caused an unintended chain split!
  • The devs are continuing to better Session. iOS got a major update and soon Android and Desktop users are getting one as well.

PegNet (PEG) – PegNet 2.0 Design

  • This month more assets were added on PegNet and now there is a total of 53 pAssets. The new cryptocurrency assets added are: HBAR, ALGO, NEO, CRO, ETC, ONT, DOGE, VET, HT and fiat currencies added are Argentine Peso, United Arab Emirate’s Dirham and New Taiwanese Dollar.
  • VineX exchange added a pUSD – PEG trading pair after the request from the community.
  • Version 5 of PegNet 2.0 paper is out and one of the additions is the diagram that visualizes the new architecture.
Various flowcharts on the white background
PegNet info-graphic

Ixian (IXI) – Spixi Updates

  • Spixi is now available on iOS and it received an update to v0.4.5.
  • It features many improvements and bug fixes. Push notifications were improved while voice calls and incognito keyboard were implemented on Android. You can download the latest version from GitHub or Google Play.

Ocean Protocol (OCEAN) – GitxChange Hackathon Sponsorship

  • The Decentralized AI Alliance, under the leadership of SingularityNET and Ocean Protocol, is bringing together global AI and blockchain projects and developers to create intelligent decentralized tools to combat COVID-19 and to reduce risks from future infectious outbreaks. So, they organized a hackathon. It started on the 1st of April 2020 and it will be running for 2 months. The prize pool is $79,000, which will mostly be distributed in Ocean tokens.
  • Ocean got listed on Uniswap Exchange.
  • If you are new to Ocean, you might want to check out informative article that was released this week. The article described how Compute-to-Data enables data providers to share or sell their valuable private data while preserving privacy.

xDAI (STAKE) – Uniswap Listing

  • BitMax announced StakeVault and the first token to be included in this program was Stake. It’s been a runaway success, it’s easy to do and users are earning 36.4% APR on Stake. BitMax Pre-Staking StakeVault already hit over 500 participants.
  • This month Stake got listed on Uniswap Exchange, 1inch and CoinMarketCap.
  • Nifty wallet is a MetaMask alternative and it now supports Stake.

Conclusion

That concludes MyAltcoins Monthly Recap. We hope you enjoyed the read. Let us know on Twitter if we missed your favorite altcoin and we might add it to the list for the next recap if it matches certain activity criteria. As we already mentioned, MyAltcoins Recap is free for all email subscribers. If you don’t want to miss out on the next version, subscribe below.

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