This week in GIN — 11th of May, 2018
This post is the first in what will become a recurrent series of GIN highlights. We’re fully aware of the fact that not everyone in our community is on Discord — so, to make things more transparent and easier to follow, we’ll be posting regular updates on here, for anyone to discover easily.
Network updates
On May 6th, GIN switched from the PoW algorithm to Lyra2Z, which brings about the following benefits:
- ASIC Resistance (as was NeoScrypt)
- NiceHash Resistance
- Lower power consumption (50% lower compared to NeoScrypt)
- Anyone with a Pentium and up can mine profitably and secure the network against attackers
- That means that ANYONE with a decent CPU can earn GIN easily :)
- New miners are coming out all the time (lots of development)
- Tried and tested by popular coins such as ZCoin (XZC)
The fork was successful and happened at block height 44263. Update for GIN wallets (to version 1.1.0) was mandatory.
Coin updates
Two more coins were added on the platform:
- Bifrost — http://www.bifrostcoin.io/
- Carebit — https://carebit.org/
At the moment of writing, GIN coin is estimated at 0.00049800 BTC.
The GIN platform has now served to setup and host the following 954 MasterNodes (and a few more for coins that are no longer supported by the platform, but kept for existing MN holders of said coins):
- 670 GINCoin MNs: https://gincoin.io/
- 126 Apollon Coin MNs: https://apollon.one/
- 37 Zealium Coin MNs: https://zealium.co.nz/
- 28 Kraken Coin MNs: http://krakencoin.eu/
- 24 Alqo Coin MNs: https://alqo.org/about
- 21 LuckyBit MNs: http://luckybit.online/
- 20 DeviantCoin MNs: https://deviantcoin.io/
- 14 Bifrost Coin MNs: http://www.bifrostcoin.io/
- 12 Agena Coin MNs: https://www.agenaproject.com/
- 1 Phore Coin MN: https://phore.io/
- 0 Bitcoin Green Coin MNs: https://www.savebitcoin.io/
The GIN platform has recently surpassed 1,000 hosted masternodes. And we’ve decided to reward our users for their support. As such, the 1,000th MN owner receives 2 years of free hosting! Also, every 100 MNs, we’ll reward the MN owners (the 1,100th, 1,200th, 1,300th etc.) with 1 year of hosting.
The cherry on top will be when the platform hits 2000 MNs, but you’ll have to stick with us to see what the big prize is! Credits for the idea of celebrating this goes to Kabak#7671 (on Discord). Thanks, man!
Infrastructure updates
We’ve improved the platform’s underlying infrastructure and are preparing to migrate to a highly available cluster; what this means is we will be able to scale more easily.
GIN in other media
The GINcoin platform has been mentioned in the following recent articles: https://medium.com/carebit/carebit-is-coming-to-the-gin-platform-68cb2b2c3ec3.
