yonda:
only a question, guys, if, if TWINS or FIX fails, can we vote to swap the coin to the other blockchain?
Edwin [new.capital]:
Technically - Yes! Community can make their own decisions and move their coins anywhere they want. The coins are yours and only you decide what to do with them. There are good examples when communities split into two or more projects, forks and more. However, I do not see any reason to worry in the foreseeable future about TWINS or FIX.
Sean:
That raises an interesting thought. As many of us already love how TWINS and FIX work on their own (staking and multi-tiered masternodes) blockchains, while we also are excited about the features gained by the move onto the Symbol chain, should we
1. Have an infographic explaining the features comparison?
2. Have any kind of solution that allows classic and new TWINS/FIX coexisting like XEM and XYM?
Edwin [new.capital]:
Good idea to make a comparison table. XEM was initially planned to be upgraded to Symbol, but it turned out that there are too many new and incompatible features that would require sacrifice of the new technology. They could simply sunset the old network, but, there are some enterprise use cases deployed already that can not be migrated automatically. So they decided to launch the Symbol as new chain and let all old chain users to migrate in their own timeframe and kill it slowly.
TWINS and FIX is completely different case:
We knew that the technology we want is not yet ready, so we had two choices - wait and launch it when ready, or launch on other technology that is more popular, grow the community and migrate when ready. The advantage for the second choice is clear - we will have truly decentralized network right after the migration. There are no use cases on our current network, so nothing to migrate - just swap the coins.
The advantages of running on technology like Symbol are many. Speed, security, performance, its modular architecture, and most importantly - its pre-built feature set that will allow us to deploy so many use-cases in no time.
We will introduce the migration plan soon, it will look something like this: new twins and fix wallets will be released with a mandatory update. Staring block X, the block reward will be reduced to almost 0.
Next, new networks will be launched with block reward close to 0. Coin swap will be announced and enabled on NCE for a period of one year. We will support seed nodes on the old network for another year, and users will be able to send old coins to NCE and withdraw only new ones. The standard block reward will be set from block X (about one month from the network launch). All this will make no incentive to stay on the old network and do incentivize migration before the standard reward time begins.
It worth mentioning that we plan to introduce new and innovative algorithm that will automatically adjust the supply of new coins per block. The idea is to generate more coins when supply is growing, and reduce the inflation rate when demand is reduced. This will make both new twins and fix behave more like in traditional economy, just without a central bank.
The currently planned annual inflation rate will vary between 1% and 5.7%. So employ your current coins and generate rewards while you can - the current inflation rate will not stay too long.
https://discord.com/channels/465818373305925633/465818373305925637/835513058163425281
