is burning still alive ?
It looks like the initial coin generation phase is over - instead of Proof of Work, we had Multi-Proof-of-Burn.
Now the plan is to move onto a new blockchain with a new purpose, and begin Proof of Stake.
Of course, as always, anyone who doesn't want to burn their BARR and swap to the new blockchain can keep their coins and continue on the NXT Platform as always. Their BARR will still continue to function the same.
But we haven't set a firm date yet for the swap, so there's plenty of time to think and discuss.
I have tracking BARR in the past and is also interested to know about plans for the future. Have you decided yet on which blockchain you will be moving to? For example token on Eth, token on Waves, token on Binance chain etc. or will you create your own new chain?
We're not going to use ETH, because those tokens aren't really independent as long as the transaction fees are in ETH.
If you get a million of an ERC token, you can't even send them unless you also have ETH.
That has been the one drawback of having BARR on NXT, although the advantages have far outweighed the negatives.
If BARR hadn't been on NXT, it might not still be running after 4 years. But it is, so NXT was a good choice to start with.
But now we're going to upgrade to an independent blockchain.
Really we could clone Bitcoin or any other coin, if we don't need lots of smartchain features. But Bitcoin's out of the question, because everyone has ASICs for the algorithm; we can't protect the network from everyone in the world who could spend a few dollars to rent hash for an hour and triple our hashrate.
So we're looking at Komodo, although we don't necessarily need all of its features, and even though Equihash has its own ASICs too now.
They're talking about allowing other variations of the algo, but it's still being tested.
So for now we're going to participate in a test project called Golden Crypto Commodity, for fun, but also to make the best coin we can.
If that goes smoothly on Komodo, then we'll know how BarrCoin would go on Komodo.
I think you'll be impressed when you see how Golden Crypto Commodity launches, even for a fun test coin.
We have several things planned that are going to be pretty crazy.
And if you're impressed with our warm-up, you can be sure the BarrCoin relaunch will be even better than that.
