Dimecoin Progress Update
As many of you are already aware, Cryptopia has started to come back online and currently has their exchange in read-only mode. Dimecoin (DIME) is lucky and appears to have been unscathed from the attack. Regardless, it is encouraged to log in and check your balances.
As of last week, communication has re-opened between the Dimecoin Team and Cryptopia. Cryptopia was scheduled to update our wallets to v1.10.01 when the attack occurred. Subsequently, our wallets never received the upgrade before they shut down services. They are aware an update is needed to our wallets and have ensured us they will update as soon as they possibly can. At this time there are no updates as to when trading will resume.
Please follow along with Cryptopia’s Twitter page to stay up to date with the latest news regarding their exchange. Here is a link to the official twitter page : https://twitter.com/Cryptopia_NZ. Beware there are a lot of fake accounts currently circulating and posing as Cryptopia.
As always, we encourage everyone to store their Dimecoin on a personal wallet. It appears Dimecoin was lucky this time, however, let this be a lesson as to why it is not smart to store your coins on an exchange for extended periods.
Masternodes/Proof of Stake(POS) Integration
Our team is working extremely hard to complete integration before our intended goal for the end of Q1. At this time, it appears like integration may be delayed slightly and run into the beginning of Q2. Even though we anticipated we would not have any delays, resulting from the time lost in development, while dealing with the 51% attack, we have been unable to make up for the lost time entirely. That said, integration should not be delayed much past the end of Q1. We will keep you informed as development continues.
Initially, we anticipated the introduction of the staking portion of our hybrid POW-POS blockchain consensus algorithm to be first, followed by the implementation of Masternodes. We can definitively say that the introduction of Masternodes will come first with implementation of staking at a later date.
Here is some technical information regarding Masternodes, breakdown of block rewards, and the yearly inflation rate.
Collateral: The collateral required to host a Masternode will be 1 billion (1,000,000,000) Dimecoin(DIME).
Block Reward Breakdown: Each block reward will be 16,000 Dimecoin and split 45/45/10. 45% will go to Masternodes, 45% to POW-POS and 10% will be a fee to help facilitate maintenance and future developments of the project.
Inflation Rate: The first year inflation rate will be 1.45%. The block reward will be set to reduce by 8% every year after.
Our iOS development team is working diligently to fix the bugs that failed to present themselves while in beta. In hindsight, the wallet should have remained in beta for a more extended period. We do apologize for any inconvenience but can ensure you that we are working on getting the wallet updated as soon as possible.
We are excited to announce Dimecoin (DIME) has been added to the Blockfolio Signal platform. You will be able to add Dimecoin to your portfolio and stay up to date with our latest developments and project updates.
Dimecoin (DIME) has been added to Altilly as part of their promotional offer to add coins listed on Cryptopia. Dimecoin has been added free of charge. Their support staff has been nothing short of exceptional, and we are excited to be part of their exchange. You can find out more information regarding the exchange by visiting their website found here: https://www.altilly.com/.
Trading pairs available are ETH and XQR.
We have finally been able to appeal our suspension successfully. Look for regular updates to be posted via our Twitter again.
Do not forget to follow our other social media platforms to get the latest news regarding Dimecoin. Links provided at the bottom of this article.
We have started working on a complete redesign for the website. The goal is to create a more streamlined user experience which will include an in-depth support and information archive along with an updated roadmap and whitepaper. We will also be launching an online store for merchandise where users can utilize Paytomat’s plugin to purchase items with Dimecoin directly.
We will be introducing two incentive programs in the not so distant future, an Ambassador program and Bounty program. Stay tuned for future articles which will contain the details for each program and their respective start dates.
CoinGecko Beam: https://www.coingecko.com/en/coins/dimecoin