Thank you all for you comments and support of the
XBY Recovery Project. Anyone contributing opinions and comments here is welcome and appreciated. We all do prefer positive posts though, since as anyone who starts at the top of our thread will know, we were all scammed by the original Bitmox developer/scammer.
HOWEVER!!
As each day passes and I see the progress Borzalom, our NEW Lead Programmer and Official Developer is making, it makes me a bit more excited and optimistic. This is not just in hopes to get my investment back either. This project is going to become something where our coin will start to gain some real value on the exchange.
In my communications with Borzalom today and yesterday, we decided it was time for an update, so here it is...
Achieved Milestones:
1.) We shared the original Bitmox code so anyone could review it and see the flaws.
2.) We disable the Proof of Stake coding, which meant that nobody owned coins and all the coins were instead in the form of tokens in your C-CEX accounts.
3.) We made an agreement with C-CEX to put XBY in maintenance mode, which allows for trading but does not require a monthly minimum (to avoid delisting). This has been agreed to remain as such until the code repair is completed.
4.) We collected all the deposits from the original Bitmox blockchain with the co-operation of C-CEX (Now we know there are a total of 650 million XBY and they are all on C-CEX)
Details from c-cex communication:
[7:30:02 AM] Borzalom: <<< found him
[20:47:43] C-CEX.com: checking
[11.02.2017 14:54:41] Borzalom: BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDf <<< is c-cex address
[20:49:41] C-CEX.com: Here are his deposits:
[20:49:41] C-CEX.com:
50000000.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDfeb5d439229d53b7583caae2bb0dffea72be8bec6fe428
3bdb8894f68f9d832c3
49999999.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDfbdc67efe02874da38d3ab57e45cb0cad55e159a17a50e
d5bb05d819aa8c35737
50000000.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDf317a8e03771ee706572873d908be9f2164dc97cb22472
79aaeb0b2fc04ab7df8
99999999.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDfed70878948f16c48adcb3f0f7c90dd02f146c4c8818ee
e72f069c6d8292e11f8
99999999.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDf10752ee1db1b8493ad5d39e6a062cb219fb3d3068db57
3f688252fbc682c8234
99999999.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDfc6d324b56fa17a6caceb473bd10ea821121d8b2ec4e02
f39fa92ef0c3863f099
99999999.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDfaf2b2d931bafac92d0100525936f112ef9b67cbebadbc
e0f798c18d30a6cb6b0
99999999.00000000 BGVUg2AzNEd3T28zQBNG2v8hzqbC3bDoDf9f5ff9c76052387951bc1ae6b544ef12e3bcf8e731336
3f0c82b7b3eccf9a240
Borzalom reviewed these deposits and found them all in the blockchain. This is all the used emission, but the coin emission was different.
https://github.com/borzalom/bitmox/commit/a0e41cbc22950a3595ee581e4d41bca09902bdd1 You see here in the code there were 9 890 000 000 coins emissioned
Borzalom then changed the code and limited XBY to 650.000.000 million coins (this is what existed [were real] on C-CEX).
5.) We then hard forked the XBY blockchain.
6.) As it stands, there are no miners and Borzalom came up with the bright idea to write a Proof of Signature (POSign) mining algorithm. This is now being tested and he will make some final changes to this part of the code.
This is a unique idea and code creation that Borzalom implemented to ensure the stability of XBY. What this means is that over the long term, when miners come, POW will be available and any time a miner may not be available, the POSign will complete the normally abandoned blocks and not hold up the blockchain.
Additionally, XBY will use a unique system to pay the miners. There are ZERO rewards for the miners, but there will be a HIGH FEE of 100 XBY per transaction. So, when a miner completes the block, the miner gets the 100 XBY/transaction and when the POSign completes the block, the 100 XBY/transaction goes to a special "community" address.
The way the community address ( BLocksFEE4ProofofSignatureXXYF3VQ3 ) will work is yet to be determined. We will be asking the community to vote on this also. But for now, nobody has access to these coins because nobody has the signature to spend them. They are controlled only by the software and as it stands, Borzalom does not want to change this. My guess is that he will create something transparent that is either automated for spending by the software or a multi signature system will be implemented to ensure the community is happy how we spend the coins. Again, we will all vote on this.
Notice:
If any other developers (or anyone who understands) would like to review the code and post any required FIXME! remarks, we would appreciate that. Then, Borzalom will fix these additional small problems (if there are any) and the XBY code repair will be complete.
Borzalom thinks he will be finished by the end of this week. So far in testing, he has; sent and received coins in the closed network and no big problems were found. The nodes were synchronizing each other, transactions were accepted and everything worked fine.
In closing, in the words of Borzalom; If anyone found a bug then I will repair. Of course more developer better code.
He is the man!!
Thanks for reading and being part of our new XBY Community.
https://github.com/borzalom/bitmox/commits/master
