Why is mining ending?
Mining is ending so the team can get back to the concentrate of building the best blockchain possible for the people of Latin America. Ter doing so wij want to provide the most future-forward technology. We’ve come to the conclusion that the Ethereum software, which wij hard-forked spil our own blockchain, is no longer the best choice if wij want to keep our Latin America blockchain at the vuurlijn of the curve.
What is this fresh technology?
The powerful thing about a blockchain where the miners (called delegates or witnesses) are working together rather than contesting is that there is a massive increase ter the speed with which you can confirm a transaction and identically dramatic decrease ter energy consumption.
A petite group agreeing that a transaction occurred rather than rivaling for the right to solve a puzzle dramatically increases the speed of transactions and the spectacle of any decentralized apps that will exist on our fresh blockchain.
BitShares’ world record holding Graphene technology is being extended and scaled by Block.One and is available for people to build their own blockchains. Before creating Graphene, Dan Larimer wasgoed a founder of BitShares, which works on the same DPOS system. His father, Stan Larimer, spil well spil Michael Taggart, are founders at BitcoinLatina and are helping us with the movement to our fresh cryptocurrency. Our fresh cryptocurrency will be hosted on a hybrid chain using a combination of BitShares and EOS technology. That means it’s possible wij could see the genesis block of our fresh DPOS cryptocurrency sooner than Block.One releases its very first official version of EOS. The team of experts wij are now working with literally invented this space.
Wij will cease to support Mining on Sunday, March Legitimate at 11:59pm EST.
The precies same method used last week to stir coins will be used again. Wij will honor stragglers but will take a snapshot of the final block at the above cutoff time and won’t permit coins created after that date to be transferred to our fresh system. There will be no future association with the any coins mined after the cutoff time.
How will the transition occur?
The last time coins were returned and reissued spil coins on BitShares miners just packed out a form. Then at the given time the transfers were made. Stragglers were pretty much covered however wij did cut that off too after the very first twelve hours or so. Wij will do the precies same thing this final time. After this no more coins will everzwijn be moved, so please do budge 100% of your coins. You may randomly be asked to prove the coins ter your wallet were actually mined by you.
HERE IS THE Listig: https://goo.gl/forms/ASwK9oWOaeD2rwUk1
The presently trading coin on BitShares (BCL) will zometeen transition to the ultimate BitShares/EOS hybrid chain that is being developed. Wij hope to supply an initial operational capability without waiting for the official EOS release and then proceed to incorporate the latest EOS technology spil it becomes available.
Thank you for your help te this transition. Wij will provide instruments to make the switch spil painless spil possible. That said, wij all know that nothing excellent everzwijn happens without tremendous efforts and sacrifices, and if wij are fortunate enough to get through then wij attain earned skill. If foresight talent us spil much information and hindsight wij could count our wishes spil fishes and eat forever. But wij learn through human error. Wij hope to fail rapid, improve, grow, repeat.
Wij WILL END THIS ON THE HIGHEST NOTE:
Our fresh law stiff te D.C. has our retainer and has commenced work towards accomplishing the goals of our white paper. Our legal team is lead by an ex-SEC Chairman of the United States and his team is stacked with ex-DOJ and ex-US Attorneys. Stan and I spent very productive time ter their office te D.C. last week with seven attorneys who all agree that wij are doing our best to stay within the lines and they spotted no glaring problems with what we’ve done to stay within the given lines. Having this team help us with our Regulation D and then A+ suggesting puts us ahead of the curve spil the most-compliant coin te the world, or at least wij are attempting the hardest to be compliant based on what has bot signaled by the SEC and CFTC.
I hope that gives you all a feeling of security spil wij inject the days where illegal Ethereum tokens and illegal exchanges fall by the wayside. Part of becoming a valuable organization and reaching our goals is our capability to outlast teams that did it wrong, who received bad legal advice, or the many te this space that knowingly acted maliciously towards the very communities who supported them. Wij hired this specific law stiff and look to them for their capability to guide us through the regulatory space so that wij can always say wij did our best to protect owners of our coins.
Wij WILL BE UPDATING THE LANGUAGE ON THE Webstek THIS WEEK TO REFLECT THIS Switch.