[ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update

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[saffroncoin]

This is our update :
We will be releasing a wallet to support the hardfork in a few hours.
We are currently working on introducing the blake algorithm for merged mining but it is creating some issues. Blake non-merged mining is going well but with merged mining there are possibilities that other algorithms may get affected since the hashing functions are entirely different.
The Blakecoin developer is helping us getting it ready for merged mining. If it works successfully, we will include it in this hardfork or else just the non-merged blake will be included.

[mig6r]

Your investment is great, I'm sure it will be a success fork.
Thank you for your work and good luck, you deserve it !

[mig6r]

In the next portfolio, you can round off the amount, it is too big and is cut

[saffroncoin]

Thanks.
We are reducing the block reward to 50. The new random superblock will be 50 * 5 =250. The halving will be increased from 6 months to 1 year.
I will be giving more details later.

[AFaQ]

I like this coin, interested in mining on Blake-256

[LTCMAXMYR]

is it updated?

[saffroncoin]

is it updated?

Not yet. We will make a statement today.
Thanks

[saffroncoin]

Mandatory Update : HARD FORK at block 112,999 (Approx. June 6, 2014, 07:30 GMT)

Please update your wallets to the latest version 1.2 to be prepared for the HardFork

Pools, Exchanges, Block Explorers and other clients can update the new code v1.2 from http://github.com/saffroncoin/saffroncoin
Wallet Client users can download your respective latest versions from http://saffroncoin.com (Classic Wallet - v1.2 or Revolutionary Wallet - v2.1)

Features of this HardFork

X11 Algorithm added as the 4th Algorithm into the coin.
Blake Algorithm added as the 5th Algorithm into the coin.
Digishield difficulty adjustment method added.

Block Reward has been reduced to 50 coins per block hence also reducing the super block reward to 250.
Minimum Block Reward beyond which halving stops is 0.1 SFR
Block Reward halving duration is increased to every 1036800 blocks (approx. 1 year)
Due to the addition of 2 more algorithms, the difficulty is now readjusted every 2.5 minutes (30 seconds per algorithm)


MAC and Linux wallets will updated in a day.


***Info on Blake Mining***

At present the Blake algorithm for SFR can be mined solo or in a pool but it can't be merged mined yet. We spent some time on figuring it out to get it merged mined with other blake coins but that would end disturbing the structure of other algorithms in the coin. At present, due to the nature of merged mining, it is not technically possible to have SFR blake algo merge mined without affecting the functioning of other algorithms at present. But in the future we will devise a way to make it possible. We are working with the Developer of Blakecoin to get merged mining possible for SFR. Hopefully we can come to a solution in the future.

What would this HardFork mean to SafffronCoin?

SaffronCoin would become the first multi algorithm coin to feature X11 and Blake algorithms.
SaffronCoin would become the first multi algorithm coin to feature Digishield.
SaffronCoin's awesome Revolutionary Wallet will get even more awesome in a future update.


Can we have some X11 and Blake pools please?

[hughjays77]

Hi Crypto,

I have spoken to the Dev and he seems to be a guy that will listen to suggestions from the community. I hear they are located in India. I hope its a small team instead of 1 person as they have excellent engineers in India.  I agree with the Hard Fork, X11 algorithm, Blake256 algorithm & Digishield difficulty adjustment method.


It is the  changes to the block rewards and random super blocks changes that Im not sure about. I think reward halving should be scrapped for simplicity[not a bit issue], the block reward reduction is all good but the random super block of 250 should be recoded to a 1/100 chance instead of the current 1/20-25 chance.

1) I am hoping the Digishield difficulty method can be used to limit money supply creation to under 5% pa.

2) We can do up a white paper to outline expected Saffron's new features and plans to be implemented.

2a) The possible integration of Anonymity features into the coin.

3) The revolutionary wallet is great but we really need to step up the marketing into overdrive. Their are numerous things we can do.

4) LONGTERM - The adoption of Saffron by retailers around the world in particular India as an accepted unit of exchange[currency] and possible long term adoption buy the South Asia region as the regional digital currency of choice.

Dev, have you thought about hiring PR managers and other team members to get more exposure and traction for this coin. It would be a shame for this great coin to linger at these prices, hidden under the hype of all the shit coins out there.

[hughjays77]

Excellent news Dev 

[saffroncoin]

Hi hughjays77, thanks for your comment. The random superblock shouldn't make much difference since it is quite difficult to find. Till now only 4 people have openly reported finding 1. But it is quite tough. I personally haven't received a single superblock yet. The reward of the superblock is also reduced from 72 * 5 to 50 * 5  with this hardfork.

[hughjays77]

Hi Dev,

Can you please publicly address points 1-3 of my post. I think these points have to addressed. Regards

Hi hughjays77, thanks for your comment. The random superblock shouldn't make much difference since it is quite difficult to find. Till now only 4 people have openly reported finding 1. But it is quite tough. I personally haven't received a single superblock yet. The reward of the superblock is also reduced from 72 * 5 to 50 * 5  with this hardfork.

[saffroncoin]

Hi Dev,

Can you please publicly address points 1-3 of my post. I think these points have to addressed. Regards

Hi hughjays77, thanks for your comment. The random superblock shouldn't make much difference since it is quite difficult to find. Till now only 4 people have openly reported finding 1. But it is quite tough. I personally haven't received a single superblock yet. The reward of the superblock is also reduced from 72 * 5 to 50 * 5  with this hardfork.

Yes, let the hardfork kick in first.
Digishield should keep a check on inflation and dumping.
Regarding the anonymity feature, we had thought about it but we are not really sure about implementing it yet. There is a lot of hype around it but it can also give rise to illegal stuff and many lesser crypto known countries would not end up accepting this. We will wait for some time and if the community wills it, we will try to see if the pros overcome the cons.

We will certainly do a white paper on all the features and what we have in mind in the future for example addition of encrypted messages.

[hughjays77]

Thanks Dev for the response. After the hard fork we can talk more about money supply inflation, anonymity and the white paper for future plans. I am glad you remain open minded.

[Coin_Viking]

Thanks Dev for the response. After the hard fork we can talk more about money supply inflation, anonymity and the white paper for future plans. I am glad you remain open minded.

hughjays77, saffron's devs are some of the nicest and legit as they come. I am liking the ideas you have outlined. Insofar as block halving, it may be something to revising in a year from now, block halving has had little to no effect on coins that have done it (dogecoin, flutter come to mind.. well one net effect.. loosing miners and hashrate). I am not so concerned, by the superblock to be honest, I'd have to check if I've even even mined one lol.

Anon or rather "privacy features" could be of interest, though for the goals that this coin wants to achieve (that being mainstream adoption) perhaps then the best of both world would be the eventual integration of stealth addresses (think vertcoin's implementation this summer). But at this point, I'd have to side with the devs and say its just too early in saffron's lifecycle atm to be put in active dev over other priorities.

Adoption will come, the hashrate has slowly increased, activity on bittrex as well. Baby steps. When x11 hits, it should generate alot of mining interest. The devs are continually refining the features and planning on expanding the capabilities of their coin and services associated (wallet etc). It may not be the flashy pop that alot of coin seem to be getting these days right out of the gates but some of the best coins took time to be "discovered" by the mainstream.

Insofar as gaining more attention via marketing etc what would you have in mind? I'd love to hear your thoughts. I've helped with the logo/website and am fairly active on twitter and drop in saffroncoin into my convos when I can (today was with the digibyte dev...)

[saffroncoin]

Thanks to charles33200 for getting a MAC wallet ready for the upcoming Hardfork. If you are using a MAC, please update your wallet to v1.2 from http://saffroncoin.com

[mig6r]

Hi hughjays77, thanks for your comment. The random superblock shouldn't make much difference since it is quite difficult to find. Till now only 4 people have openly reported finding 1. But it is quite tough. I personally haven't received a single superblock yet. The reward of the superblock is also reduced from 72 * 5 to 50 * 5  with this hardfork.

I found One 

[saffroncoin]

Hi hughjays77, thanks for your comment. The random superblock shouldn't make much difference since it is quite difficult to find. Till now only 4 people have openly reported finding 1. But it is quite tough. I personally haven't received a single superblock yet. The reward of the superblock is also reduced from 72 * 5 to 50 * 5  with this hardfork.

I found One 

Yup you are 1 of the 4 i quoted!

[Delivereath]

So X11 can be mined already ?

Sgminer reports a difficulty of 32k while the getmininginfo command reports 0.00024. Why such a difference ?