[ANN][SCRYPT] Dotcoin

[Davids123]

                     
                                 https://www.cryptopia.co.nz/News


Dotcoin(DOT) Coin Swap

Recently there has been a large uptick in coins being affected by 51% attacks, and unfortunately DOT joined this list earlier in the week. We managed to identify and respond to the attack sooner rather than later though the attacker did manage to make an impact on the market. This is the reason DOT has been in maintenance while we tried to determine the best response to the issue.

Due to the amount of hash that can readily and easily be thrown around at small networks these days we had to ask ourselves if it still makes sense for DOT to run on its own network as it is clear to us that we cannot afford secure the network ourselves, and that the demand for DOT is not sufficient enough to attract the amount of distributed computing power required to sufficiently secure the network either.

We've decided to perform a swap of the DOT blockchain to a WAVES asset, the use case of DOT is not based around mining or proof of work so we don't think anything is lost in moving DOT to a token platform. A final block height will be defined to allow for a swap period of approximately 90 days before the cut off of new blocks being included in the swap. The new token will be created and swapped 1:1 with the old chain with the new asset matching the coin count of the old chain up to the cutoff block height.

Cryptopia will also keep a copy of the old blockchain so that old coins prior to the cutoff block height can continue to be swapped. Cryptopia will allow for a full year before the swap process is closed and swaps of coins on the old chain will no longer be accepted.

Cutoff Block: 1,200,000
Total DOT at block 1,200,000: 522,500,000 DOT
New DOT Asset Total: 522,500,000 DOT

If you already have your DOT on Cryptopia then there's nothing further you need to do everything will be swapped automatically, this included all DOT currently in Term Deposits that will remain uninterrupted. If you do not currently have your DOT on Cryptopia and want the swap to happen automatically then you must deposit your DOT to Cryptopia before block 1,200,000. If you fail to swap your DOT before block 1,200,000 you will have to raise a support ticket to get your swap sorted.

Cryptopia has covered the DOT that was lost in the 51% attack from their own DOT reserves, so all users will remain completely unaffected by the attack.

The final date for swapping your DOT will be 2018-07-01.
Published by: Hex @ 6/29/2017 3:38:11 AM

Thank you for sharing this info

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[tacaro]

And what about DOT from Novaexchange ? Can i sent coins from Nova to Cryptopia ?

[Davids123]

And what about DOT from Novaexchange ? Can i sent coins from Nova to Cryptopia ?

Not for the moment , Dot wallet at cryptopia is in maintenance

[shotgun1969]

                     
                                 https://www.cryptopia.co.nz/News


Dotcoin(DOT) Coin Swap

Recently there has been a large uptick in coins being affected by 51% attacks, and unfortunately DOT joined this list earlier in the week. We managed to identify and respond to the attack sooner rather than later though the attacker did manage to make an impact on the market. This is the reason DOT has been in maintenance while we tried to determine the best response to the issue.

Due to the amount of hash that can readily and easily be thrown around at small networks these days we had to ask ourselves if it still makes sense for DOT to run on its own network as it is clear to us that we cannot afford secure the network ourselves, and that the demand for DOT is not sufficient enough to attract the amount of distributed computing power required to sufficiently secure the network either.

We've decided to perform a swap of the DOT blockchain to a WAVES asset, the use case of DOT is not based around mining or proof of work so we don't think anything is lost in moving DOT to a token platform. A final block height will be defined to allow for a swap period of approximately 90 days before the cut off of new blocks being included in the swap. The new token will be created and swapped 1:1 with the old chain with the new asset matching the coin count of the old chain up to the cutoff block height.

Cryptopia will also keep a copy of the old blockchain so that old coins prior to the cutoff block height can continue to be swapped. Cryptopia will allow for a full year before the swap process is closed and swaps of coins on the old chain will no longer be accepted.

Cutoff Block: 1,200,000
Total DOT at block 1,200,000: 522,500,000 DOT
New DOT Asset Total: 522,500,000 DOT

If you already have your DOT on Cryptopia then there's nothing further you need to do everything will be swapped automatically, this included all DOT currently in Term Deposits that will remain uninterrupted. If you do not currently have your DOT on Cryptopia and want the swap to happen automatically then you must deposit your DOT to Cryptopia before block 1,200,000. If you fail to swap your DOT before block 1,200,000 you will have to raise a support ticket to get your swap sorted.

Cryptopia has covered the DOT that was lost in the 51% attack from their own DOT reserves, so all users will remain completely unaffected by the attack.

The final date for swapping your DOT will be 2018-07-01.
Published by: Hex @ 6/29/2017 3:38:11 AM

so after a year can we expect to see any leftover coins burned because no one traded them for the new waves token?

[motorhead89]

Nice to see more projects moving towards the Waves ecosystem! Welcome to Waves Dot Users! Ride on Waves!  

[leps]

Is the supply of DOT going to be reduced?

[whalebone]

Is the supply of DOT going to be reduced?

Yes, to 522,500,000 the total DOT at block 1.2M

[psycodad]

DOT Holders be aware that Cryptopia has set the confirmations on deposit for DOT to 5000 (!). Deposit early enough, it takes several days to get it confirmed on your balance.

[thesmokingman]

Just came here to see what's going on with DOT lately as I mined roughly 14k of it back in 2015 and saw its value climbing. Excited to see what the move to the Waves platform has in store for DOTcoins value. Coins are already on Crytopia, so looks like I'm ready to go 😎

[whalebone]

DOT Holders be aware that Cryptopia has set the confirmations on deposit for DOT to 5000 (!). Deposit early enough, it takes several days to get it confirmed on your balance.

Holding till my DOT bag will free tilikum.

[jezus]

My wallet is online i can deposit dot.

[Fivestar4everMVP]

Please we need dot coin on coinomi mobile wallet.. Thanks

[notdrdre]

Does this mean a new WAVES coin will be created? or that the DOTcoin will be swapped for the current WAVES coin?

[DataAnalyst]

Dotcoin is one of the rare coins out there that has actual usage but only 2.5M market cap right now.
Heavily undervalued.

[digit]

Does this mean a new WAVES coin will be created? or that the DOTcoin will be swapped for the current WAVES coin?

They explained it clearly in their news about this:

We've decided to perform a swap of the DOT blockchain to a WAVES asset, the use case of DOT is not based around mining or proof of work so we don't think anything is lost in moving DOT to a token platform. A final block height will be defined to allow for a swap period of approximately 90 days before the cut off of new blocks being included in the swap. The new token will be created and swapped 1:1 with the old chain with the new asset matching the coin count of the old chain up to the cutoff block height.

[ashiba]

DOT Holders be aware that Cryptopia has set the confirmations on deposit for DOT to 5000 (!). Deposit early enough, it takes several days to get it confirmed on your balance.

Holding till my DOT bag will free tilikum.

Some cloud mining operation keeps trying to 51% DOT, so it's getting swapped out for a WAVES asset  . Good to see Cryptopia devs coming around to proof of stake.

[Zer0Sum]

DOT Holders be aware that Cryptopia has set the confirmations on deposit for DOT to 5000 (!). Deposit early enough, it takes several days to get it confirmed on your balance.

Holding till my DOT bag will free tilikum.

Some cloud mining operation keeps trying to 51% DOT, so it's getting swapped out for a WAVES asset  . Good to see Cryptopia devs coming around to proof of stake.

Now that Cryptopia is trading ETH...
They need to list every single ERC20 token out there...
And rip that HUGE market away from the comically awful Liqui.

[smarterhash]

so cryptopia is making us wait 5,000 confirmations to deposit DOT. However I deposited coins 5 days ago and they only had a few hundred more confirmations and low and behold - Cryptopia rolled then back to zero confirmations. so it appears an though I have to wait another 5 days ad the price of BTC plummets.

sucks

[Easteregg69]

so cryptopia is making us wait 5,000 confirmations to deposit DOT. However I deposited coins 5 days ago and they only had a few hundred more confirmations and low and behold - Cryptopia rolled then back to zero confirmations. so it appears an though I have to wait another 5 days ad the price of BTC plummets.

sucks

They are harassing the customers. I just bought a lot (A LOT!) of dotcoins when Cryptopia declared it under 51% attack. And as expected. Price went down on my investment.

This exchange should have some kind of regulation. I don't trust them with the treatment i'm given there.

Thomas.

[kurbeks]

Wallet finally fixed