Denarius Statement about CryptoBridge Exchange Update
This article is in relation to and a response to the https://crypto-bridge.org/2018/12/19/denarius-update/
Denarius is, has been, and will continue to be a community powered open source decentralized cryptocurrency project. Decisions are made by consensus, with the greater common good of all members as the sole driver of growth and change. While this has many benefits, it has shown to be a business structure with a unique set of challenges. One such challenge we are now seeing being a contractual disagreement with a 3rd party exchange. The update made by CryptoBridge is not a decision that we agree with, but we will learn to agree to disagree. It is a mutual disagreement as to the initial terms of the relationship with CryptoBridge. They have stated they are taking steps now to ensure D holders can still withdraw their funds and we are glad that they are taking such steps to ensure dissolution of our relationship with them and that it does not affect coin holders.
On 12/19/2018, discussions with CryptoBridge resulted in their decision that additional payments would be required to continue to have the current version of Denarius to remain on their exchange. It is our opinion that exchanges have a duty to update to prevent exploits and bugs found within a coin, especially when an exploit is found which is not unique to only one coin. CryptoBridge, however, disagrees.
While the decision made by CryptoBridge is not a decision that we agree with, it is within their contractual rights (though no contract was signed by either party nor were terms agreed upon in this nature). This said, we are glad to see they have stated they are taking steps now to ensure D holders can still withdraw their funds and dissolution of our relationship with them will not affect coin holders.
There is however a necessity of updates to cryptocurrencies to prevent exploits, bugs, and to accept in new features for the blockchain itself. As such Denarius experienced some instability during our v3.1 release, which was resolved by our ~v3.3-v3.3.3 update. This should have created a situation in which, would have had CryptoBridge update their Denarius node software to our latest stable version, without requiring additional exorbitant fees, however, they felt the terms of the agreement stated differently and refused to update, and thus delist Denarius from their exchange. They did however, make a recent statement on Twitter stating that they will be updating our node now to allow users to at least withdraw their D funds from the exchange.
Growth and adoption comes with growing pains, and multi-blockchain exploits are one such growing pain we have had to overcome, we now have a entirely custom and one of a kind Fortuna Stake Fair Payment System to prevent previous and future exploits on the Denarius blockchain, so again we do recommend you are always updated to the latest version of our software.
Again, we do not agree with the decision made by CryptoBridge, but we do hope that whatever resolution is met, that our users are unaffected by it. We do hope that maybe one day they will allow for us to rebuild our relationship, should CryptoBridge become a top exchange in the cryptocurrency industry.
When Denarius pictures the future of cryptocurrency, we picture one which has all parties working with the best interests of coin holders at heart. This means us remaining true to staying community powered and open sourced, and hopefully means exchanges continuing to work towards the best interests of their customers and developers. While we do not know whether such a future will involve a renewed partnership with CryptoBridge, we can sincerely state we look forward to seeing them continue to grow in the crypto space…2019 and beyond.
— Denarius forever!