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Release of Rank v2.1 and Mandatory Location

By May 9, 2024May 12th, 2024Announcement, Crankk, News, Update

Dear Crankk Community,

We are excited to announce the upcoming release of Rank v2.1 and the enforcement of the mandatory location setting for all gateways in our network.

This update is scheduled for release on May 12, 2024, at 20:00 CET.

Rank v2.1: Enhanced Scoring System

Rank v2.1 builds upon the insights and enhancements from Rank v2.0. The new version introduces statistics collected in weekly segments rather than continuously, providing two percentage scores: one from the previous week and one updated in real-time. This feature aims to offer you immediate feedback, allowing for continuous improvement of your gateway’s performance week over week.

Mandatory Location Setting

In line with our previous communications, the location setting for each gateway will now be mandatory and crucial for calculating your rewards accurately. Starting with the release of Rank v2.1, gateways without a set location will see a significant decrease in earnings, receiving only 0.00003 CRKK per transaction. This measure is to enhance network integrity and optimise coverage.

Setting your gateway’s location is simple and takes less than 15 minutes to reflect on the blockchain after adjustment in your Crankk User Dashboard.

Why This Matters:

  • Improved Accuracy: Accurate location data significantly enhances our network’s coverage map and assists in strategic gateway placement by new users.
  • Fair Reward Distribution: With a reliable location data, our system can more accurately distribute rewards based on the real contribution of each gateway to the network.

Looking Forward

These updates are crucial steps towards refining our ranking system and integrating more dynamic and accurate measurements into our network. We believe these changes will not only benefit individual gateway operators by providing clearer feedback but also enhance the overall health and efficiency of the Crankk Network.

Medium Article

We invite you to review the detailed changes and prepare for the update by ensuring your gateway’s location is correctly set in the Crankk User Dashboard. For any questions or assistance, please reach out to our support team via ⁠🆘・open-a-ticket in discord.

Thank you for your continued support and dedication to improving the Crankk Network. Together, we are paving the way for a more connected and efficient future.