[ANN] WDC WorldCoin: Announcing upcoming patch and news

[WorldCoin]

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Setting the standards for the Altcoin community

The WorldCoin Team would like to announce the details of an upcoming patch to be released in late July/early August 2013 (block 518,401). Two main issues being addressed are current inflation level and mining orphan rate.

We would like to highlight a couple items before reviewing the details.

WorldCoin currently has a fast secure transaction time of 60 seconds. This is achieved by confirming a 15-second block four consecutive times. The update maintains the 60 second security time so the speed of a complete WDC transaction will not be altered.

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season. Once the new production rate has been reached, the same volume will be produced each month until the final blocks are mined.



                Patch information

                
http://worldcoinforum.org/official/WDC_patch_announcement.pdf






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[Oldminer]

Oh yea..now we're rolling 

[BazkieBumpercar]

I'm really happy about the whole inflation patch thing

[defaced]

reserved

[seleme]

Glad you listened 

[jubalix]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

so does this mean there will be less coins in the remainder of production, or are you upping whole coin amount

this needs a  tl;dr

rather than a pdf

[sumantso]

Thats great news

[Kruncha]

Great news for worldcoin, great news for us...

...and still great news for newcomers.

K.

[BigDaddyWooWoo]

This is effen great news!  Glad I've been hoarding.  I jumped in with the right coin.

[Oldminer]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

Of course. Anyone can buy/mine WDC. Its referring to the current crypto-community as a whole.

[nerdcustoms]

Well done!  A patch was definitely needed.

[Mr.V]

well it isn't the 1minute blocks I was hoping for but 30secs is better then 15. Still good job guys thanks for improving the coin I invested in most!

[seleme]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

so does this mean there will be less coins in the remainder of production, or are you upping whole coin amount

this needs a  tl;dr

rather than a pdf

Full number of coins to be produced is same but it'd time distribution is bit different. Check the pdf.

[sprinkles]

Awesome news!

[Disastrus]

Hmmm, interesting 

[seleme]

Looks like my 75k WDC could be worth something 

[gudmunsn]

This is great news. I like how the block size decreases as time goes on so that the altcoin community won't be inundated with Worldcoin. The nice thing is that it isn't too late to become an early adopter. Right now the difficulty is still low (1. so you can still amass many of the 5.5 million coins that will be coming out for the next 5 months (since worldcoin is about 1 month old).  This gives everybody a fair shot at getting their hands on a lot of the coin, and I think it will be very important in getting it circulating through the marketplace. While I wasn't involved with LTC in the early stages, it would make sense that it was a similar situation. I'd love to hear more from people about their experiences with a young LTC. "Back in the good ol' days I could mine hundreds a day," etc

I am also a fan of the changes regarding the orphan problem; The difficulty being raise 15% every 120 blocks will certainly dissuade pool-hoppers, and will help to make the coin both more stable hashrate/difficulty wise, as well as value wise. Miners won't be dumping huge quantities mined at a low diff for 8 hours, since it will be changing often. This will serve to make the coin more viable as a currency, and less as a speculation vehicle.

I'm very excited to see what comes next for WDC.

[jubalix]

Also, before the inflation correction occurs, we are allowing the community to continue to become early adopters by maintaining current coin production levels for the duration of this season.


sounds a little, um, centralized, you allowing others???

so does this mean there will be less coins in the remainder of production, or are you upping whole coin amount

this needs a  tl;dr

rather than a pdf

Full number of coins to be produced is same but it'd time distribution is bit different. Check the pdf.

what sort of rig do i need to be able to mine

also is the new system front loading the coin so not as much motivation to mine in the long term???

[seleme]

I don't mine anything so you have to ask that someone else.. but it has to be same rig you mine any other coin, no difference.

Not sure I understand the second question.

[jubalix]

I don't mine anything so you have to ask that someone else.. but it has to be same rig you mine any other coin, no difference.

Not sure I understand the second question.

sorry KH to get a coin