✅ [ANN] Genesis $GENX | Swapping to TRC20 Block 1,070,000

[yurimir]

Developer news from Genesis project forum:

"I'm happy, and very proud to announce some progress on our Masternodes. Our dev team has put a ton of work into this, and we finally have it on our test testnet for private testing. We have a few small things to fix, and some additional testing to do, but definite progress is being made.

Here is a screencap of it running.



Before you guys ask - no, we do not have a timeline on when this will be made public. We truly want to be sure it is working 110% before we launch."

https://genesisnetwork.io/forum/threads/genx-masternode-progress.337/

[tranthidung]

Masternodes, it mean that the Genesis Network will switch to Proof-of-Stake and Masternodes when all things prepared thoroughly?
PoS/ MN will put the coin under higher risks of dumps from masternodes investors and small stakers.
Staking will require small capital than mining the coin directly in Proof-of-Work phase.
I will wait to see the implementation and performance of Genesis Network.
I wish that the coin will remain its current price, at least.

[kaszebe1]

Has the Proof of Stake implemented on Genesis Network yet?
If not, when the PoS phase will be activated?
Will it been activated in the year 2019?
I heard plans of Genesis Network team to change from PoW to PoS months ago.

Remember my post. Get your money from genx asap.

[jimmybob_007]

Has the Proof of Stake implemented on Genesis Network yet?
If not, when the PoS phase will be activated?
Will it been activated in the year 2019?
I heard plans of Genesis Network team to change from PoW to PoS months ago.

We have postponed PoS as v3 has critical vulnerabilities. We will implement at a later date once a solution has been developed or proposed.

You should be careful with any v3 coins that you own.

[btcsmlcmnr]

Delayed, for now, I got it.
Thank you for information on the future implementation of PoS on Genesis Network's network.

We have postponed PoS as v3 has critical vulnerabilities. We will implement at a later date once a solution has been developed or proposed.

What did you mean? Why I should be careful with v3 coins?

You should be careful with any v3 coins that you own.

[yurimir]

Latest news from Genesis Team:

"The $GENX weekend has been very fruitful and testing of our masternode implementation is in full swing. We will begin public testnet soon. There are only a few addresses with enough coins for a masternode at the moment..."

https://twitter.com/Jimmy_GenX/status/1099585052202143744

https://twitter.com/genx_network/status/1099519941001334784

[JoenNL]

cool to see the community is still alive

[jimmybob_007]

Delayed, for now, I got it.
Thank you for information on the future implementation of PoS on Genesis Network's network.

We have postponed PoS as v3 has critical vulnerabilities. We will implement at a later date once a solution has been developed or proposed.

What did you mean? Why I should be careful with v3 coins?

You should be careful with any v3 coins that you own.

They are vulnerable to fake stake attack (51% essentially).

Read more here: https://neironix.io/news/research_serious_vulnerabilities_revealed_in_cryptocurrencies_based_on_the_proof_of_stake_algorithm

If the network is compromised the price may drop considerably. Just be careful.

[luckydoky]

The GENX faucet has now paid over 700.000 GENX to the community and over 100K in just the last 6 days !

That's almost a masternode worth of GENX just from the faucet !

Download the wallet and start claiming your free GENX now at https://faucet.genesisnetwork.io/

[yurimir]

Project development continues: https://twitter.com/genx_network/status/1099864845996969984

The Genesisnetwork public Masternode testnet is now available!

Come help make $GENX that much better by participating 

All info can be found here: https://wiki.genesisnetwork.io/index.php?title=Testnet:_Manual_Masternode_Setup_Guide

[SSowellSVT]

Project development continues: https://twitter.com/genx_network/status/1099864845996969984

The Genesisnetwork public Masternode testnet is now available!

Come help make $GENX that much better by participating  

All info can be found here: https://wiki.genesisnetwork.io/index.php?title=Testnet:_Manual_Masternode_Setup_Guide

-snip-

Thanks for the feedback! We've recognized and fixed some things brought up in the testnet discord already. If you support this project and have some free computing space laying around, come join us!

[jimmybob_007]

Project development continues: https://twitter.com/genx_network/status/1099864845996969984

The Genesisnetwork public Masternode testnet is now available!

How long will the testing phase of Genesis Network's masternode on test-net last?
If all results on testnet are good, when the masternode officially implemented on main-net in the best scenario?

Best is looking at a few weeks.

[amrulshare]

according to the genesis roadmap it will be a pos coin, I already have them and I have saved them for preparation. how long will it reach development, waiting ?

[SSowellSVT]

according to the genesis roadmap it will be a pos coin, I already have them and I have saved them for preparation. how long will it reach development, waiting ?

Please read above. There are some critical vulnerabilities in PoS coins.

We are going to be researching options to PoS in the future after masternode release and getting some other development out the way.

Proof of Stake and other options are considered a "consensus" model change. If you want more info on consensus, please Google. But tl;dr, it's the way in which a block is hashed and processed. we will not add anything to our coin that has known vulnerabilities along with extensive testing.

So, eventually there will be a proof-of-stake(ish) concensus change added, but not PoS v3 and not in the immediate future. If you're interested in passive income from Genesis, a masternode currently costs about $300.

[themonkii]

I just posted a new video guide for you all that explains how to setup a GENX Masternode on testnet with a VPS.

Hope it helps! https://youtu.be/CIDZFobAtrs

[amrulshare]

according to the genesis roadmap it will be a pos coin, I already have them and I have saved them for preparation. how long will it reach development, waiting ?

Please read above. There are some critical vulnerabilities in PoS coins.

We are going to be researching options to PoS in the future after masternode release and getting some other development out the way.

Proof of Stake and other options are considered a "consensus" model change. If you want more info on consensus, please Google. But tl;dr, it's the way in which a block is hashed and processed. we will not add anything to our coin that has known vulnerabilities along with extensive testing.

So, eventually there will be a proof-of-stake(ish) concensus change added, but not PoS v3 and not in the immediate future. If you're interested in passive income from Genesis, a masternode currently costs about $300.

models masternode doesnt economics to growing any digital asset, besides to setup masternode are troublesome and not everyone can contribute to it. I hope there will be another better development in the future

[themonkii]

according to the genesis roadmap it will be a pos coin, I already have them and I have saved them for preparation. how long will it reach development, waiting ?

Please read above. There are some critical vulnerabilities in PoS coins.

We are going to be researching options to PoS in the future after masternode release and getting some other development out the way.

Proof of Stake and other options are considered a "consensus" model change. If you want more info on consensus, please Google. But tl;dr, it's the way in which a block is hashed and processed. we will not add anything to our coin that has known vulnerabilities along with extensive testing.

So, eventually there will be a proof-of-stake(ish) concensus change added, but not PoS v3 and not in the immediate future. If you're interested in passive income from Genesis, a masternode currently costs about $300.

models masternode doesnt economics to growing any digital asset, besides to setup masternode are troublesome and not everyone can contribute to it. I hope there will be another better development in the future

Masternodes will actually play a crucial role in our eco - we are not implementing them as a means to pump the coin, rather they have an actual usecase. We feel this is a significant step forward, and part of our predefined road map. We took our time, and our dev team have done an amazing job pulling this together.

[amrulshare]

according to the genesis roadmap it will be a pos coin, I already have them and I have saved them for preparation. how long will it reach development, waiting ?

Please read above. There are some critical vulnerabilities in PoS coins.

We are going to be researching options to PoS in the future after masternode release and getting some other development out the way.

Proof of Stake and other options are considered a "consensus" model change. If you want more info on consensus, please Google. But tl;dr, it's the way in which a block is hashed and processed. we will not add anything to our coin that has known vulnerabilities along with extensive testing.

So, eventually there will be a proof-of-stake(ish) concensus change added, but not PoS v3 and not in the immediate future. If you're interested in passive income from Genesis, a masternode currently costs about $300.

models masternode doesnt economics to growing any digital asset, besides to setup masternode are troublesome and not everyone can contribute to it. I hope there will be another better development in the future

Masternodes will actually play a crucial role in our eco - we are not implementing them as a means to pump the coin, rather they have an actual usecase. We feel this is a significant step forward, and part of our predefined road map. We took our time, and our dev team have done an amazing job pulling this together.

I don't think about the pump and dump the coin mechanism, I just hope that $ GENX has a sustainable value, especially in technical terms which has its own characteristics rather than other  digital assets.

[jimmybob_007]

It's not long to go now until our masternode release.

Please make sure that you are aware of how to enable yours by practicing on our testnet and following our guides.

Any assistance, please contact us on our discord.

[dungp3132]

Release on main net of Genesis Network, really?
It means that the test phase on test net already finished with good results.
And, the team prepared almost enough to offcially activate masternodes on GENX network.

It's not long to go now until our masternode release.