This week in GIN — 25th of January, 2019
GIN Algo Change
As seen over the past weeks, having the highest Lyra2Z hashrate after Zcoin switched to MTP attracted most of their previous hash power and FPGA miners, which have a big advantage over the GPU miners.
While we enjoy having a high network security through high HP, we do not agree with abandoning the traditional miners who provide the best decentralization to our network, so we felt an intervention was in order to realign our blockchain with one of its founding principles — that of being mineable by anyone. At the same time, we thought we could tackle another risk as well, while minimizing the changes operators and miners need to do, so we decided to also introduce a protection for 51% attacks along with the algorithm change.
After carefully considering a few options for a new algo, we decided to go ahead with x16rt, the evolution of x16r, pioneered by the Veil blockchain.
Going through an algo change is a vulnerable moment, so we thought implementing the dPoW 51% attack protection by Komodo at the same time was important, to ensure partners and exchanges that they don’t risk anything during the transition.
The Komodo solution provides notarization of the Gincoin blockchain every 10 minutes to the Bitcoin blockchain, effectively securing Gincoin with the hash power of Bitcoin, making a 51% attack impossible.
Algo change roadmap
At the beginning of the week (Jan 21–22, 2019) we published the new algo code and deployed the consensus changes on the Testnet to test the transition and proper difficulty retargeting. We want to thank everyone who lent a helping hand with mining on the Testnet, in order to increase the hash rate.
Everything went perfectly on the Testnet and the algo change was successful.
Therefore, we will go ahead with planning of the mainnet implementation, which is now set to happen on Feb 6, 2019 @ 4pm GMT.
The code changes can be tracked in the v1.2 branch of our Github repo:
GINcoin Core is the official wallet of the GINcoin cryptocurrency - GIN-coin/gincoin-coregithub.com
The official wallets will be released in about 7 days after code freeze, and we will start notifying exchanges and partners about the same time.
Node Commander Mobile for iOS
Node Commander Mobile was released on iOS. We know you’ve been expecting it, so go get it from the AppStore!
Node Commander Mobile is a monitoring tool for masternodes hosted on the GinPlatform. It allows you to quickly view…itunes.apple.com
And don’t worry, Krzysztof, we got your back. If Apple won’t let you keep the donation addresses in the app, we sure will post them here. We appreciate and support your work, mate!
Here are the donation addresses. Show some love!
The latest coin added on the platform is:
- Galilel — https://galilel.cloud/
- 1X2 Coin — https://1x2coin.net/
- World Crypto Forum — https://www.worldcryptoforumcoin.com/
At the moment, we’re at 7,810 masternodes — for an updated number in real time, check the platform, right on the top left!
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