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ANNOUNCEMENT
ZACA Coin is currently facing a large dump of coins. This is very harmful to all community and as developpers we try to find solutions to stop this. We do not actively interfere in the trade market but we decided to create a new release of ZACA Coin with some changes to the protocol. We strongly believe, that these changes will be beneficial to everybody involved in the project.
1. As from Block 70'000 we will make ZACA Coin a pure PoS Coin
This change will increase Masternode rewards to 70% and the remaining 30% will be for Coin Staking. We want to reward strong believers in the project. Eveybody willing to "lock up" coins should be rewarded. This change will make Masternodes more valuable and will make them yield more interest.
2. We will increase the collateral needed to run a Masternode to 7500 ZACA
This change will affect all current masternode holders. In order to keep running your node you need to get more ZACA coins. We are aware that you will loose your existing node if you are not willing to get more coins. However, we believe that those who do will recieve a much faster ROI, as there will be less nodes in the network. All coins not locked in a masternode after the transition will recieve staking rewards instead of masternode rewards. Everybody involved in the project will benefit from the changes happening.
The mandatory update will be released in the next few days, so please be ready to update your node as soon as the release is happening and make sure you have enough ZACA coins ready to keep running your Masternode. Only then you can benefit from the higher Masternode rewards!
ZACA Coin is currently facing a large dump of coins. This is very harmful to all community and as developpers we try to find solutions to stop this. We do not actively interfere in the trade market but we decided to create a new release of ZACA Coin with some changes to the protocol. We strongly believe, that these changes will be beneficial to everybody involved in the project.
1. As from Block 70'000 we will make ZACA Coin a pure PoS Coin
This change will increase Masternode rewards to 70% and the remaining 30% will be for Coin Staking. We want to reward strong believers in the project. Eveybody willing to "lock up" coins should be rewarded. This change will make Masternodes more valuable and will make them yield more interest.
2. We will increase the collateral needed to run a Masternode to 7500 ZACA
This change will affect all current masternode holders. In order to keep running your node you need to get more ZACA coins. We are aware that you will loose your existing node if you are not willing to get more coins. However, we believe that those who do will recieve a much faster ROI, as there will be less nodes in the network. All coins not locked in a masternode after the transition will recieve staking rewards instead of masternode rewards. Everybody involved in the project will benefit from the changes happening.
The mandatory update will be released in the next few days, so please be ready to update your node as soon as the release is happening and make sure you have enough ZACA coins ready to keep running your Masternode. Only then you can benefit from the higher Masternode rewards!
I understand the concerns regarding the future of this coin; however, all those who invested enough for their current MN assumed the risk on the terms of 1000 coins per MN. Now, you change the rules and throw out all those who took that risk but can't jump to 7500 coins. Will the coin go up? In short it most likely it will as those who wish to continue their MN will most likely purchase along with those who have already got their ROI. But, what stops the slide once again after those who plop another 6500 worth of coins want their ROI? A whitepaper? No. A whitepaper is nothing but plans, more like, I promise to do X Y Z ... trust me.
I would rather liked to have seen a tiered approach to the MN requirement (say 2000 by 1 APR, 3000 by 1 JUL) or how about only new MNs need to meet the new requirement? If you believe the coin is worth it then those who have already took the risk with you should not be penalized by new requirements. This may take a little more programming on the back end but it should be doable. You could require a sign up of all current MN wallet addresses that would be exempt from the new requirement (can verify via block-chain,explorer). Again, this is just some back-end programming that needs to be done. I'm not a block-chain expert but I was a software engineer.
I do hope that the price rises to get my ROI back and I do hope the coin has a future. But, I believe most importantly, we need a real-life use for this coin. I think that is what will make the price more stable and actually grow on its own. This is more of an artificial price jump. I like that your an active DEV but I see other coins with high requirements for MNs and they too have failed and DEVs walk away. I understand what your trying to do. Maybe its just me and my lacking knowledge on the crypto markets, but I see you back to the same point a little time down the road even with smaller MNs. In the end, people what ROI and knowledge that their backing a coin with real-life uses and has a purpose.
