Bitcoin Forum
April 21, 2019, 01:20:30 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [ANN]❁ KORECoin Swap to KORE 1:1, New Wallet Release and Rebranding: ❁  (Read 4851 times)
MikeMike
Legendary
*
Offline Offline

Activity: 2058
Merit: 1020


★ Ⓚ KORE TEAM Ⓚ ★


View Profile
September 30, 2017, 04:56:11 AM
Last edit: April 10, 2018, 09:11:31 PM by MikeMike
 #1



Announcing Swap from KoreCoin to Kore 1:1, New Wallet Release and Rebranding:

On the 14th of October 2017 we will be perform a blockchain transfer from the old Korecoin blockchain and start a new one,
along with a rebranding and a new development team leading us in a new and exciting direction.
Your existing Kore coins will be mapped 1:1 on the new chain and the transition will be smooth and painless.
Note: Bittrex will be closing our KORE wallet and stop trading the token to take accurate snapshots of balances.
If any KORE you had sent to Bittrex are not settled (e.g. marked as pending)
by 6:00 PM PT, on 10/13/2017 (1:00 AM on 10/14/2017 UTC), you may not be credited with KORE
https://support.bittrex.com/hc/en-us/articles/115001898671-Support-for-the-KoreCoin-KORE-blockchain-upgrade

KoreCoin Was initially introduced in June 2014 , with the following specifications :-

* Algorithm: X13
* PoW Coins: 1.2 Million
* PoW Block Reward: 450 KORE
* Block 3200 – 4000 = 1000 KORE
* PoW Timefram: 4000 Blocks
* Block Time: 60 Seconds
* PoS Minimum Age: 1 hours
* PoS Max age: 8 Hours
* PoS Interest: 10%
* Total Coins: 12 Million

KORECoin was a coin taken over, the Dev integrated Tor as well as SIP/PBX for in wallet VoIP calling to eventually include Video.
It is a Project central to privacy. The old Dev left the project. MikeMike took KORECoin over, built the KORE Team, renewed that Team,
integrated his ideas and main funder of the KORE Team Projects.

Current KORE supply is roughly 2 M coins, these will be moved to the new chain and will be accessible to their owners
within the very first block, more on this below.

Reasoning for the Swap

1) The current code base it very old , so much so that attempting to update it would probably cause more problems than it fixes.
2) We wish to take advantage of new innovations introduced into the crypto space over the past 3 years
3) As we have a new dev team and the chain has had many developers, it is ideal to introduce a new chain providing a clean slate
for the development team to work with. The updated software and new chain would are key steps in the new direction Kore is taking.
4) Introduction of key features such as CLTV and CSV , as well as adequate scaling plans
5)  at the bottom of this page.


The New Kore Specifications :-

* Algorithm: sha256d Bitcoin Core v0.12.2.0-gec0afbd (64-bit) * but could change at the release.
* PoS Algorithm  PoSv3  *Modified for Security and Functionality, See “Understanding KORE PoS”
* PoW Coins: ~ 20 000   * but could change at the release.
* PoW Block Reward: 5 KORE
* Block 4000-infinity = 0 KORE   * but could change at the release.
* Block Time: 120 Seconds
* PoS Minimum Age: 8 hours
* PoS Interest: 15% - 30% *To be determined
* Total Coins: 12 Million


The first wallet release is going to introduce Masternodes to the Kore community.
It will be made available in both Linux and Windows.
* Mac will be made available in 7-10 business days from the Swap.
It will be made available in both Linux and Windows.
* Mac will be made available in 7-10 business days from the Swap.
The first release will also include the Bittrex trading window for KORE and eventually most all pairs, the Block Explorer,
KORE to USD conversion in send, Mining CPU Core selector slider, Opacity, BTC/USD and KORE/USD tickers.
The Tor Web Browser, SIP/PBX VoIP will be released in subsequent versions in fairly short order.
To entice developers, other skilled professionals and try to offset costs a maintenance fund has been created
that is allocated 10% *To be determined.
Here is a link to a video showing proof of development:
https://youtu.be/wpn_OAnzoBg

* Masternode Requirement : 400-600 Kore *To be determined
* Masternode subsidy : 40% *To be determined

Pure Tor Masternodes/Servicenodes a World First:
Tor Masternodes are currently in testing and will provide services to users.
Tor was chosen to increase privacy of users as it obscures your IP enabling use of services without fear for privacy.

Obfuscating your coins from being tracked by a unique mixing feature by traditional Masternodes:
Masternodes use this function to automatically break up private transactions into indistinguishable  multiple identical transactions,
this adds complexity to the original transaction and obfuscates the proof of any particular amount and hides the IP
of those who mix the coins with you through their Masternodes.


The KORE Roadmap:
Will be posted at the time of release of the new wallet on October 14th 2017.


Understanding KORE PoS:

Kore uses customized proof of stake. Using percentages rather than a static amount it ensures all users are treated fairly
for their contribution to the overall health of the network.

* X % stake per transaction  X*To be determined
* 100 blocks to confirm
* 8 hour maturity
* 50 Kore minimum stake

Minimum Stake amount Percentages are used as they better reflect and reward users accordingly, this prevents other users from gaming
and devaluing the currency by simply creating dozens of small transactions and creating hyper inflation. The 100 block wait time
ensures adequate confirms pass before coins are mature to ensure a higher degree of certainty. An additional 8 hour wait period is added
as a means of controlling stake rates and supply growth. A minimum stake amount is imposed as part of the measures to prevent micro-staking,
micro stakes quickly bloat blockchains eventually causing problems when chains have millions of blocks but are less than a GB in size.
X% of this is allocated to MN owners as a subsidy for their vital job of assisting in obscuring transactions and facilitating Instant transactions.
With time the role of Masternodes will expand as part of the development roadmap includes assigning them additional duties on the chain.


This post will be updated with any changes.
Thank you for your interest and patience during these exciting times.

MikeMike




1555809630
Hero Member
*
Offline Offline

Posts: 1555809630

View Profile Personal Message (Offline)

Ignore
1555809630
Reply with quote  #2

1555809630
Report to moderator
1555809630
Hero Member
*
Offline Offline

Posts: 1555809630

View Profile Personal Message (Offline)

Ignore
1555809630
Reply with quote  #2

1555809630
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
gargouri20011
Member
**
Offline Offline

Activity: 73
Merit: 10


View Profile
October 01, 2017, 11:18:51 PM
 #2

What about bitrex will it swap ?
davecrypto
Full Member
***
Offline Offline

Activity: 152
Merit: 100



View Profile
October 04, 2017, 09:29:13 PM
 #3

Hi MikeMike,

thanks for shareing this great news.

I have written an article for you about KORE @ Steemit:
https://steemit.com/cryptocurrency/@davecrypto/kore-tor-service-nodes-browser-voip-aether-os-korephone-korebay

If you like it, please send me some KORE Smiley
Quote
KWNpr3whhoHag7hCvovb9xBx24asP152z5

CORNUCOPIA    || Gain Access to Amazing IPOs || [ Pre-Ico 2018 ]
          
Whitepaper    Facebook TwitterTelegram
MikeMike
Legendary
*
Offline Offline

Activity: 2058
Merit: 1020


★ Ⓚ KORE TEAM Ⓚ ★


View Profile
October 04, 2017, 10:56:14 PM
 #4

CLOAK CLONE?!

Not at all.

Nathan047
Sr. Member
****
Offline Offline

Activity: 504
Merit: 250



View Profile
October 05, 2017, 04:14:57 PM
 #5

CLOAK CLONE?!
As of yet CLOAK is not open source, so it would be really hard to clone it.

I'm starting a technology blog T4CH.top, check it out!
CryptoJohn
Legendary
*
Offline Offline

Activity: 1400
Merit: 1000


Well, That's Crypto :-\


View Profile
October 07, 2017, 04:16:25 AM
 #6

is deposit to Bittrex required for swap?

oxonhu
Full Member
***
Offline Offline

Activity: 336
Merit: 111



View Profile
October 07, 2017, 08:39:42 PM
 #7

really good news. new devs . price is so low now and rigth moment there is no big sell walls. buy it now and wait till 250k sat. after rebrand you can stake too. it will grow and grow. now buy it and won't be regret !

MTLav
Newbie
*
Offline Offline

Activity: 25
Merit: 0


View Profile
October 08, 2017, 12:02:33 PM
 #8

What about bitrex will it swap ?

Can the devs kindly confirm: if we leave our Korecoins in the bittrex wallet, will they be automatically swaped? Or should we transfer them to a wallet?
roger46
Newbie
*
Offline Offline

Activity: 36
Merit: 0


View Profile
October 08, 2017, 12:06:17 PM
 #9

i think we need to swap with the new wallet, let see what they said
MTLav
Newbie
*
Offline Offline

Activity: 25
Merit: 0


View Profile
October 09, 2017, 03:05:56 PM
 #10

i think we need to swap with the new wallet, let see what they said

From this post on twitter it seems it will be swaped automatically on Bittrex https://twitter.com/newkorecoin?lang=en
Would love a confirmation by the devs.
CryptoJohn
Legendary
*
Offline Offline

Activity: 1400
Merit: 1000


Well, That's Crypto :-\


View Profile
October 10, 2017, 03:35:37 AM
 #11

i think we need to swap with the new wallet, let see what they said

From this post on twitter it seems it will be swaped automatically on Bittrex https://twitter.com/newkorecoin?lang=en
Would love a confirmation by the devs.

FYI

is Bittrex deposit required for swap?

Does not matter where your KORE is.
They will be in the same addy in the new wallet.
;-)

MikeMike

sounds like moving wallet.dat from old wallet into new data folder will do the trick.

Simple and Effective begins and ends with KORE.

coin3l1te
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
October 12, 2017, 09:28:25 PM
 #12

So, is it safe to keep our Korecoin in Bittrex? Then when the swap happens bittrex will automatically swap our Korecoin to KORE? So many people are confused about this. We need a legit answer.
CryptoJohn
Legendary
*
Offline Offline

Activity: 1400
Merit: 1000


Well, That's Crypto :-\


View Profile
October 13, 2017, 04:43:07 AM
 #13

So, is it safe to keep our Korecoin in Bittrex? Then when the swap happens bittrex will automatically swap our Korecoin to KORE? So many people are confused about this. We need a legit answer.

did you not read what i posted above?

If my local wallet will work perfectly then one could surmise that bittrex wallet will be fine as well.

MikeMike
Legendary
*
Offline Offline

Activity: 2058
Merit: 1020


★ Ⓚ KORE TEAM Ⓚ ★


View Profile
October 13, 2017, 01:09:42 PM
 #14

So, is it safe to keep our Korecoin in Bittrex? Then when the swap happens bittrex will automatically swap our Korecoin to KORE? So many people are confused about this. We need a legit answer.

People are confused because they do not read properly all the information provided,
nor the many, many replies answering the same questions.
If you decide to keep your coins on the exchange...
Nobody can make that decision for you, but You.
We have done all we can to make this swap painless and effective for both Bittrex and the Community.


MikeMike

alinka1
Full Member
***
Offline Offline

Activity: 195
Merit: 100

Lexium - DEX and MN


View Profile
October 17, 2017, 08:30:42 PM
 #15

When is the new wallet coming? Master nodes?
MikeMike
Legendary
*
Offline Offline

Activity: 2058
Merit: 1020


★ Ⓚ KORE TEAM Ⓚ ★


View Profile
October 18, 2017, 06:35:59 AM
Last edit: April 10, 2018, 09:07:29 PM by MikeMike
 #16

Will keep reposting this post to keep it on the first page in the forum... Read it regularly to find all the updates.


NEW UPDATES IN BOLD:



KORECoin Swap and ReBranding on 10-14-2017
*** How the Community can help make it a Successful Swap!
Please check this post regularly for updates.
* 1- I was just informed by Richie from Bittrex that a Swap takes a couple days.
See the included slack chat posts.
We will do our best to expedite what we can when we can.
I was not aware until now. I'm sure this lengthy process is for all our benefit.
Bittrex has accomplished many Swaps so I trust their guidance.
* Plus they have to do an intensive Code Review to protect their exchange and clients/your assets.
I will keep the Community informed.
* 2- We are running the New Wallet,
Sent it to Bittrex so they can start their arduous in house setup, testing and tie in with their systems.
We assume this could take a few days as Richie had told me...

3- Why will I have a 0 "available balance" and I cant send coins in the new wallet?
All your coins must Mature first, before they are available to send or stake.


4- Update from Huck:
"Dear Kore Community.... a quick update...   there was a minor issue with the wallet when Bittrex attempted to run it.  
In a nutshell the way that they wanted to run it was different than the way that we run ours naturally.
 It has been nice discovering and understanding how Bittrex does things.  Issue has been resolved and Bittrex was able to start the wallet.  
This now leads them into the integration testing portion of this transition. We will hear from them again soon on their progress.
So far no major issues and we have been able to fix the minor ones....
I will post another update as soon as I have one. Thank you everyone and have a great day!!   Huck"

5- UPDATE:
To the KORE Community:
On this update, Bittrex had found an issue on our end which has since been partially resolved. We are diligently working on fully resolving the issue.
We want to thank Richie, Julian and the entire Bittrex Team for their patience, flexibility and desire to have this be a successful swap.
Our goal is to get this resolved effectively and hope for it to coincide with our Public Marketing Strategy we have been working on for some time.
I'm truly impressed and honored to see how patiently the Community is supporting this transition.     MikeMike

6- UPDATE:
"Hello Kore community family...
I just wanted to check in with everyone and let them know that we had a successful day today.
The wallet fixes appear to be holding thus far and we have a stable network again. We are testing with more individuals this time around
and we may be reaching out to the community shortly for some beta testers.
Please understand if we choose you as a beta tester you will have to fully dox yourself as well as sign a nondisclosure agreement.
We are not at that point yet but I promise to alert you  once we get to that point....... Huck"

7- UPDATE:
We did not get enough Blocks to go by to fully test PoW and PoS
so may need another day or two to determine if the fix works.

I waited as long as I could to see if we could get more blocks to go by but we did not.
This is a perfect example of "How Coding & Testing works"... not something easily to put a time frame on.

If this new build tests out fine we then submit to Bittrex and they do their review and integrations and testing on their end.
We do not know how long Bittrex will take after we hand them the source nor when that will be nor if it will pass
their integration and testing though we expect it to. Like the first situation,....
They managed their dir differently so we naturally complied. Nobody was right nor wrong in the first one.
Just different ways is all. Bittrex knows what this means to them and us and so far they have been Awesome! so Hats off to them.  
One thing for sure, I don't ever want to see the Community go through this again.
I'd hate to pull the plug on this Swap and revisit it in 30 days "If Bittrex could fit us in their schedule".
They have been awesome with us and appreciate it.
Shame is my poor decision of trusting a new change we implemented that was actually for the Communities benefit.
We also had some serious circumstances arise I might get into a bit once we get this wallet out.
All we can do is our best.    MikeMike


8- NEW UPDATE:
Dear KORE Community and Family,
Happily our new Wallet build has sufficiently passed our Team Testing, and thanks to those
from the Community working with Huck,... we have moved onto the next step of an additional 8- Beta testers
and we will add a few more.
The next step is having the Community Beta Testers move onto Masternodes testing
and then onto engaging Bittrex.    MikeMike




That is it for this update. If you have not read this entire post please do.  





Support the KORECoin Swap to KORE on 10-14-2017 by loading the new KORE wallet,
mine coins and stake soon as the KORE Team and Bittrex approve to release wallet to Public.

Keep track of your Time Zone here:

Again,... This is when Bittrex will cease trading for KORE so the Team can work with them and test.
It could be many hours before we release the wallet to the Public
and we need your support so keep watch for the post of the release.
* The Timer is when the "snapshot" will be taken of the old chain so don't move coins anywhere 1 hour before timer ends!
We nor Bittrex can be help responsible for lost coins if you do not follow the guidelines.



FIRST and Foremost:

1- Educate yourself on what the Swap means and how it is done.
2- Make yourself available to load the wallet on as many computers as you can, stake some coins "and" mine.
3- Be Patient. Swaps are a ton of work and we are all sleep deprived.
Help us make this easy peasy for all by being supportive, patient and understanding in you comments and actions.
4- Help others. If you see someone in Discord, here, Twitter, Farcebook, Telegram, YouTube etc.
and you have enough skills and knowledge to help them along,... Please do so.
The Team and Community will forever be grateful for your involvement!  Smiley

5- Support the Swap by making this easy on Bittrex. Please do not send tickets in and posting in their Slack
with  "Are we there yet, Are we there yet, Are we there yet" type posts. Bittrex has and will be working
with us closely and best their, and our time and attention remain on the Swap at hand.


6- Support the KORE Team and Community and Investors by your positive actions.
7- Read everything here carefully,... then read it all again and determine what actions
you personally could do to help make this a smooth, positive experience.
8- IF by chance you do have any serious concerns or issues do not plague the Forum or Social Media with them.
Post to myself in Discord, Twitter and here in PM about them. This is the proper professional way to handle such matters.
Not out in a public venue. We will then determine the best course of action and inform the Community ASAP of anything critical.


Questions:

1- Why is there a Timer?
The Timer shows when Bittrex will cease KORE Deposits, Withdrawals and the start of the time the Team
will be working with Bittrex to get the new Wallet up to date and test with them prior to the release to the Public.

The Timer is also to notify people to cease all KORECoin Transaction, Support the Swap
by installing the new wallet ASAP once the Team and Bittrex approve the New Wallet release to the Public.
We don't know how long this testing will be. Could be many and a few days.
Please read Bittrex swap post carefully. It explains this clearly.

This does not mean things are going badly.
Just we are doing testing with Bittrex prior to the release to the Public.

2- Are my KORE safe on Bittrex?
The Team and Bittrex have done much planning to make this a smooth transition no matter where you coins are.
The responsibility and decision to leave them there is entirely up to you.
3- What do I need to do to have the new wallet show my coins in it?
Pay attention to the public release of the wallet, download it ASAP, Start it up, shut it down,.....
NOTE:  Only create a new password for the new wallet IF you do not have an old korecoin wallet. Your old password will work.
.....go to your hidden files and folders to the KoreCoin folder, copy the wallet.dat file,
go to the new Kore folder for the new wallet that is labeled Kore, paste the wallet.dat file in that folder.
Start up your new Kore Wallet, wait for it to have connections and test your password.
4- Will KORE put out videos to help with this transition?
Yes and we do hope we will have enough time while testing with Bittrex so it will be the real thing.
5- How do I setup Masternodes?
The concept is from DASH but we will provide a guide at the release.
We hope to have a video too but this may be in the few hours after the release due to time constraints.
6- How many KORE are required for a Masternode?
The amount of coins will be announced at the release of the new wallet to the public.
7- Can I run a Masternode from one location or do I need a VPS?
Masternodes can run from one location but must have different IPs/VPN on one and both are accessible to the Internet 24/7.
8- Will KORE experience a disaster during the Swap like we have seen with some coins taking days and weeks?
The KORE Team have done all we could (under the circumstances) to make this Swap a smooth one and so will Bittrex.
IF for some unforeseen reason the new wallet swap does not perform as designed Bittrex has backups,
The Team will make themselves fully available during the testing with Bittrex and
we do expect to have any issues that may arise remedied in an Emergency ASAP fashion.
9- Where should I post to suggest changes or additions to this most important post?
Please PM me here, in Discord or on Twitter and thanks for them in advance!  Smiley
10- Why does Bittrex take so long to do Swaps?!
First, Bittrex Must complete an Intensive Code Review to protect their exchange
and YOUR BTC and KORE/their clients assets. They/We Appreciate your understanding
how serious this first step is and your patience. Then they must load the Wallet,
do intensive Testing and integrate it into their exchange.
11- When should I stop sending coins anywhere?
One hour before the snapshot is taken which is at the stop of the Timer.
12- What if I send coins after the one hour deadline and they get lost?
Neither KORE Team nor Bittrex can be held responsible for lost coins. We can only try to help you recover them is all....
You bear full responsibility.
13- Why will I have a 0 "available balance" and I cant send coins in the new wallet?
All your KORE must Mature first, before they are available to send or stake.
14- Can I trade Korecoins on Bittrex while waiting for the Swap to complete
and will all transactions be there after the swap is completed?
Yes.  Smiley

NOTE: I give you my assurance KORE is here for the long run and no matter what,...we will be a Honey Badger!  Wink





The Entire KORE Team and Bittrex appreciates your unwavering cooperation and undying support during this transition!
 Smiley Smiley Smiley
Cheers!


MikeMike






Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!