Crowdcoin Tech, Swap a QA
Hello from Luca Paterlini fouder of Crowdcoin,
This is the medium all of us was waiting for, after careful consideration I have updated the tech spec accordingly considering economic and tech implications.
CrowdCoin Tech Specifications
The basic specifications, and the functionality for CrowdCoin are as follows:
Coin Specification Ticker: CRC
Block Time: 2 min
Reward 3200 CRC
Block Confirms for Mined Blocks: 5000
Block Confirms for Sending/Receiving: 6
Block Max Size: 10 MB (4x faster than sane Bitcoin and 10x more capable)
Max coins: =~83 900 000 000 in 2028
Pre-mine: 80 000 000 000
Halving: previous_block_value-3200/2500000 every single block
Min. coin age: 24 hours
Collateral: 1 000 000 CRC (one input)
Only IPv4 addresses allowed
Default port 8585
Crowdcoin Swap Procedure
After carefully consideration we are happy to announce that we have 2 methods supported.
- automatic: deposit on STEX https://app.stex.com/en/basic-trade
- manual: by getting in contact with lucapaterlini#8922 the account of the founder or the project, a different address will be created for each discord account in order to keep track of what have been swapped.
The swap period is 10 AM London Time on Monday 12th to Friday 23 4 PM London Time.
The rate is 1 old coin = 100 new coins
At the begin of the swap the old explorer is going to stopped and only valid amounts shown on it will be accepted.
The official explorer is going to be upgraded to the latest version
All not redeemed coins will be used for development purpose.
N.B. Now on we are going to have a new bitcointalk page, all the other channels references remain the same of the old coin
I have CRC on my hot wallet. what do I need to do in order to get the coins swapped?
There are two methods previously explained in this article, we suggest the manual because is the one we manage directly.
I have some Crowdcoin on Cryptopia. What do I need to do by when? I do not have enough to sell there. I don’t want to buy / mine more.
If you are holding less the minimum needed to move the coins we cannot guarantee that Cryptopia will participate in the swap and we are persuaded those are going to be lost.