SVM status after upgrade

blaze.apps (75)verified developerin Steem Dev • 8 hours ago

Hi everyone 👋

The Steem Virtual Machine (SVM) continues to make incredible, steady progress following our massive v0.0.3 Bridge Oracle upgrade. Over the past few days, I have published several deep dives and technical guides regarding the testnet relaunch, the new architecture, the oracle protocol, and validator onboarding.

In this post, I want to consolidate all the latest updates and give you a comprehensive summary of the current state of the SVM network, the technical milestones we've hit, and how you can join the network as a validator today.

Network Health & Testnet Status

Because the v0.0.3 update fundamentally reshaped the SVM architecture—introducing the STEEMBLACKHOLE module, native SBD bridging, and a completely new fee economics model—we rolled the upgrade out as a brand new chain for the testnet rather than attempting a messy state migration.

I am thrilled to report that the new testnet is exceptionally healthy, stable, and actively producing blocks!

Current SVM Testnet Stats:

Active Validators: 7 (and growing!)
Total Blocks Produced: 38,000+
Test Transactions Processed: 336+
Average Block Time: ~5.3 seconds
EVM Chain ID: 8163

A consistent block time of ~5.3 seconds with an expanding validator set proves that the upgraded network and the new unified accountability system are working flawlessly.

Technical Progress: The v0.0.3 Architecture

For those catching up, the v0.0.3 "Bridge Oracle" release is our biggest update yet. It transforms SVM from a simple EVM sidechain into a robust, validator-secured economic layer for Steem:

SBD Bridging: asbd is now a native bridged coin with a 1:1 peg.
Bridge Fees for Stakers: A tiny 0.25% bridge fee routes 100% to validator and delegator rewards.
New Fee Economics: Transaction fees are split 50% to stakers / 25% to the community pool / 25% burned.
Unified Accountability: A single slashing engine across bridge attestations and price duties ensures validators cannot "mask" inactivity on one duty by performing well on another.

The Oracle Client Protocol: Multi-Language & Highly Reliable

One of the most critical pieces of the v0.0.3 infrastructure is the validator oracle client. The oracle doesn't just publish prices; it handles bridge attestations, withdrawal confirmations, and the commit-reveal price-feed mechanism.

To ensure network stability, we have strictly defined the SteemVM Oracle Client Protocol:

Cryptography: Uses eth_secp256k1 and standard Ethereum HD wallet derivation (m/44'/60'/0'/0/0).
Signing: Follows Cosmos SDK's SIGN_MODE_DIRECT, utilizing Keccak256 hashing for deterministic, byte-for-byte compatible transactions.
Commit-Reveal Price Feed: Validators commit to a hash of their prices in one period and reveal them in the next to prevent front-running/copying.
The "Dangerous" Detail: Exchange rates strictly require 18-decimal formatting (LegacyDec.String()). A generic decimal formatter will cause the chain to reject the reveal hash!

Implementation Status: The protocol has been rigorously tested. Both our Python and JavaScript oracle clients have successfully completed live broadcast validations on the development network. The Go implementation has the protocol defined and is pending its final live-broadcast re-run.

Validator Onboarding: Easy Setup Script & Bug Fixes

To make joining the SVM testnet as frictionless as possible, we have completely overhauled the validator installation process.

We introduced a highly automated, guided setup script: new-validator.sh.

Starting from a clean Ubuntu server, this single script handles the entire heavy lifting:

Repository setup & fetching the latest feat/v0.0.3-bridge-oracle branch.
Node initialization and Genesis synchronization.
Steem account verification (fetching your live Steem public keys).
Generating a brand new SVM wallet (⚠️ Note: The v0.0.3 upgrade creates a new wallet address; old ones are not reused. Save your mnemonic securely!).
Registering your Steem identity via the exact svm-register memo to svm.bank.
Claiming the 5,000 STEEM faucet to fund the validator.
Creating the validator and configuring/starting the Bridge Oracle.

Bug Fixes & Latest Approach:
Early iterations of the setup script faced some edge-case bugs regarding Docker volume caching and state syncing. We have pushed critical bug fixes to the repository. The latest approach guarantees a clean environment, removing stale chain data and automating the CoinMarketCap API key integration required for the Oracle.

If you want to run an SVM validator, do not use an older setup guide. Always clone the repo, checkout the feat/v0.0.3-bridge-oracle branch, and run the latest new-validator.sh.

Previous SVM Updates & Resources

If you want to read the deep-dive technical breakdowns of everything mentioned above, check out my recent posts:

GitHub Repository: SteemVirtualMachine-EVM (Make sure you are on the feat/v0.0.3-bridge-oracle branch!)

Thank you to all the validators who have already upgraded, registered their new wallets, and are actively securing the network. Your participation is what makes the SVM ecosystem thrive!

#svm #steemvirtualmachine #steemdev #steemdevelopers #sherpaprotocol

8 hours ago in Steem Dev by blaze.apps (75)verified developer

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