Major Update Coin Swap Coin swap to new
EQT Chain would happen on
20th August , 1 PM UTC .
The coins would be swapped by
coinexchange .
Please
move your coins to Coinexchange for the swaps by 20th August .
Those users who are not able to participate in the swap would have to prove ownership of the coins to be able to do swaps manually .
Coinexchange Link :-
https://www.coinexchange.io/ Total SupplyThe current EQT chain has a maximum supply of
75 Million coins with current supply of
7,957,043 coins ( 7.9 Million ) New EQT chain would have a minimum supply of
10 Million coins with current supply of
8,00,000 coins ( 8 Million )The extra supply of the coin would be
burned step by step after the swaps by coinexchange and manual swaps are completed
X11 Algorithm X11’s chained hashing algorithm utilizes a sequence of eleven scientific hashing algorithms for the proof-of-work. This is so that the processing distribution is fair and coins will be distributed in much the same way Bitcoin’s were originally. X11 was intended to make ASICs much more difficult to create, thus giving the currency plenty of time to develop before mining centralization became a threat. This approach was largely successful; as of early 2016, ASICs for X11 now exist and comprise a significant portion of the network hashrate, but have not resulted in the level of centralization present in Bitcoin.
The
X11 algorithm uses multiple rounds of 11 different hashes (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo), thus making it one of the safest and more sophisticated cryptographic hashes in use by modern cryptocurrencies.
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