GINcoin algorithm changeDevelopment update regarding the changes in mining algorithm.No action is required on your end unless you use the
Gincoin Testnet for development purposes.
The Testnet changes for the algo switch to x16rt are implemented and released as alpha (binaries only) on our Github repo:
https://github.com/GIN-coin/gincoin-core/releases/tag/v1.2.0.0-alphaThe algo change on the Testnet is scheduled for
tomorrow, Jan 22, 2019 at exactly 13:00:00 GMT. All blocks mined after that date will use the new algorithm.
The difficulty retargeting algorithm is reset at the same date and will use the minimal difficulty for the whole 30 blocks DGW window, making those 30 blocks and a few after mineable at a very fast rate.
How can I help?It would help increasing the hash rate on the Testnet as much as possible tomorrow before the switch time. To help with this, BSOD will set up a port for mining on the Gincoin testnet, so anyone who can throw a bit of hash power to it tomorrow morning is greatly appreciated.
If all goes well with the transition on the Testnet we will announce the Mainnet switch date by
Wednesday afternoon.
Also, we remind you the initial announcement:
"[We] would like to provide a quick update about the Gincoin blockchain changes we are working on and reasons behind them.
As seen over the past weeks, having the highest Lyra2Z hashrate after Zcoin switched to MTP attracted most of their previous hash power and FPGA miners which have a big advantage over the GPU miners.
While we enjoy having a high network security through high HP we do not agree with abandoning the traditional miners who provide the best decentralization to our network, so we felt an intervention is in order to realign our blockchain with one of its founding principles of being mineable by anyone. Since an intervention was in order we thought we could tackle another risk as well while minimizing the changes operators and miners need to do, so we decided to also introduce a protection for 51% attacks along with the algorithm change.
ALGO CHANGEAfter carefully considering a few options for a new algo, we decided to go ahead with x16rt, the evolution of x16r, pioneered by the Veil blockchain. Although MTP (Zcoin) was our primary choice at first, I felt like it goes against a few important principles, which I can elaborate in a separate discussion.
dPoW 51% ATTACK PROTECTION BY KOMODOGoing through an algo change is a vulnerable moment, so we think implementing the dPoW at the same time is important to ensure partners and exchanges that they don't risk anything during the transition.
The Komodo solution provides notarization of the Gincoin blockchain every 10 minutes to the Bitcoin blockchain effectively securing Gincoin with the hash power of Bitcoin, making a 51% attack impossible.
More details about this implementation will be discussed in a separate conversation.
ROADMAP21-22 Jan (Mon-Tue) we will publish the new algo code and deploy the consensus changes on the Testnet to test the transition and proper difficulty retargetting.
Depending on the results of the Testnet deployment we will set a date for the Mainnet change and release new wallets including the DPoW implementation.
The wallet transition period will be generous so that everyone can update in time, but not too long as we need to react quickly. Might be 10 days.
In the meantime, everyone can help by mining on the Testnet to increase testnet diff. Support can help with instructions on DM."
