Gas fee savings for the Crankk Network

Dear Crankksters,

Kadena is already a low gas fee PoW chain and serves well as the blockchain for the Crankk Network. At the same time Crankk believes in the premise of distributedness and Web3, so Crankk network nodes are interfacing directly with the blockchain and get rewarded immediately once a beaconing/witnessing cycle completes, thereby generating a significant amount of transactions. These small fees can add up and represent an ongoing cost to keep your nodes operating optimally.

In an effort to reduce the cost of node operation we are extending the average beaconing/witnessing cycle time from 4 hours to 6 hours while increasing the rewards to keep your earnings at the same level. This is a simple chage in our main smart contract that coordinates Crankk’s network opearations. We’ll be monitoring overall network performance to make sure that earnings and network performance are not negatively impacted while reducing overall network operation costs.

While individual experiences may vary to some degree, this small adjustment should reduce gas fee expenditure accross the board by an average of 33%. We are also planning to make some adjustments to the witnessing strategy in the coming weeks to help reduce gas fee spend further and improving witnessing fairness. Further details will be communicated as soon as we’re ready with the implementation.

We sincerely hope that our efforts to reduce operating costs while keeping earnings at the level published in our Tokenomics will benefit the Crankk ecosystem as a whole.

The Crankk Team