Minexcoin status update and news
Hello, dear Minex community!
We apologize for the delay and for not providing you explanations of this situation.
We know that missing our deadline was a disappointment for you, but be sure: the reasons are objective.
Our goal is our common success. Our goal is creating stable, secure, and reliable coin. We can not allow apply to stock market before being sure that MinexCoin will meet all our high internal requirements and your high expectations.
The delay is caused by coin code update: eliminating several minor and two major backdoors; and fixing one bug with Equihash algorithm implementation.
Two major backdoors we eliminated:
- Possibility of changing the address of deductions
- Possibility of manual setting of a reward for a block less than 2.5 MNX
These backdoors could allow perpetrators to trick the Minex Bank system and by doing so destabilize unfairly the coin. Many thanks to you — our community! — for helping and detecting these and other backdoors! We can proudly state that our community is great and honest. It is an honor for us to have you.
The bug we fixing: the problem of the nodes failure after the failure of the validation by Equihash algorithm.
We chose Equihash algorithm as it meets the needs of MinexCoin better, but while implementing we faced the problem described above.
Now we’re almost done with all the works so it will make MinexCoin more stable, secure, and fair for all participants.
Now to the news you’ve been waiting for:
We are planning to apply to the stock market in two weeks so MinexCoin will be able to trade on exchanges approximately in three-four weeks.
From this moment we will keep you informed and updated permanently. Fortunately, we have a lot of news upcoming: our team upgrade, MinexBank v 2.0, MinexExplorer update, Android version, and many many more.
Please accept our sincere apology for the delay.
Thank you for believing in us!
Yours Faithfully,
MinexSystems Team
