Chain-migration V1MOJO — V2MOJO
Move your MOJO to Livecoin.net before 20/06/2016.
MOJOcoin started out as a basic Novacoin / Bitcoin clone but with a vision to go beyond what that codebase could facilitate. We therefore created a more modern codebase that could incorporate native Tor support, masternodes facilitating coin-mixing and other features. The initial plan was to implement a hard fork as described below to “switch” everyone onto a new chain. However, after extensive testing it became clear that the new V2 wallets and the transaction structure was incompatible with the V1 wallets and the existing blockchain.
We were then left with two choices; 1) a manual chain migration from V1 to V2 where all the V1 addresses were re-created in the V2 version and all the balances were transferred over or 2) a chain migration facilitated by an exchange.
The latter was discussed with the excellent crew at Livecoin.net who has agreed to facilitate a chain migration from V1MOJO to V2MOJO. The process will be as follows:
1. We will set a date — provisional date: 20/06/2016 (should be 3 weeks from now, final date will be announced) so that all users are registered at Livecoin and can deposit their V1MOJO there.
2. After this date deposits and withdrawals of V1MOJO will be closed.
3. We then take tally of the total amount of V1MOJO on Livecoin to be exchanged.
4. During the V1MOJO ‘maintenance’ period Livecoin will set up the V2MOJO trading wallet.
5. We then transfer the V2MOJO balance to Livecoin for the swap.
6. Once Livecoin has the V2MOJO wallet running and the coins are transferred, the old V1MOJO wallet will be deleted and they will open deposit/withdrawal of V2MOJO. All coins are operated now in the new
V2 wallet.
7. Once the swap is complete we release the V2MOJO wallets and the source.
8. We will then burn V1MOJO and V2MOJO to provable burn addresses to balance out, taking into account how many V1MOJO has been swapped. This may affect the masternode specs. but should not. We’ll get back to this.
The good news is that during this process, Mojocoin clients WILL NOT be limited in exchange and trading operations at Livecoin. Trades will not interfere with the process of moving to the new blockchain. So, there is no downtime during the transfer process.
Obviously, the other exchanges that carry V1MOJO will be advised to stop trading and update during this period.
After the process, V1MOJO will be taken “off-line” in the sense that nodes will be taken down, block explorers updated. etc.
Further updates will follow, but for now, assume that you need to move your MOJO to Livecoin.net before 20/06/2016.
