This is an Important Announcement
New Updated POPCOIN™ Redistribution Coin Swap Timeline and New Chain Specifications Proposal Pushed to June 16
This is an important Announcement
Unfortunately we have ran into an issue with planned launch of the new chain with Masternodes. 🙁
Message from devs:
Because masternodes were originally built by Dash Coin developers to be used specifically for masking and privatizing transactions and providing the darksend function of Dash. Members of the PopularCoin advisory team brought it to attention that Darksend is a function that potentially goes against current anti-money laundering laws and could render PopularCoin or PopularCoin devs in a legal battle. Along with the potential of going against legal standards, PopularCoin is meant to be a Classy coin that has greater purpose than usage in dark transactions.
What we were planning on was circumventing the issue by rewriting the code to block off the darksend function. Unfortunately because masternodes were specifically created to facilitate dark send, even if we rewrote the code to not allow for them, someone that knows the code would still be able to create a wallet that uses darksend on the POP blockchain.
Because of this we are postponing the Redistribution Launch Date for one month until June 16 and we have created a new specifications proposal for a Hybrid PoW/PoS coin that we already have in the works.
Here are the proposed specs:
Hybrid – PoW/PoS
Inflation From Minting:
PoW – Scrypt with Kimotos Gravity Well
PoW Block spacing will slow down from 51 seconds to 80 seconds so that we can facilitate more transactions and faster wallet syncing times.
First 6 Months: 99 Coins
Next 6 Months: 49 Coins
After 1 Year: 9 Coins per Block Indefinitely
Continued PoW POP Mining Rewards with an extra 2x POP block !!!
10 Per Hour 2x
4 Per Hour 5x
24 Per Day 10x
12 Per Day 25x
1 Per Day 100x
1 Per Week 500x
1 Per Month 2500x
6 Per Year 10000x
Every 10k blocks 1000x
PoS – Annual Proof of Stake Minting with Minimum stake age 4 Hours and Full Weight 100 Days
Target Timespan: 80 Seconds
Target Spacing: 80 Seconds
First 6 Months: 8% Annual
Next 6 Months: 6% Annual
After 1 Year: 4% Annual Indefinitely
10% of Inflation is allocated to development
With these economics it puts the total Popular Coins at just under 7 billion in the year 2029 which is 11 years from now.
These are the current specifications that we are proposing, we are asking for users to post in this forum or ask questions and give opinions in social chats with the team.
If you have any serious ideas to bring to the users please use this post and thread on PopularCoin.com
Thank you all and we look forward to launching the New Chain June 16 2018 !
We have acquired the domain www.popcoinswap.com to handle the swap, you can visit there to keep up to date on how to trade in your Old POP for the New POP !