Netcoin (version 2.3.0) is now released and MANDATORY wallet upgrades are available to download from the front page of the foundation website (netcoinfoundation.org). The changes are already live on GitHub in the master repository. This update is mandatory and involves a hard fork on block 530000 which will happen roughly at GMT on the 2nd of March.
The aim of the new version is multi-faceted. First, we wanted to update the timing of POW vs POS. When PIR + OWI was implemented back in July, Netcoin went through a few weeks of blockchain lag, and despite smoothing out recently, we wanted to ensure the continued stability and security of Netcoin. Meee and JK (and several others) have spent countless hours analyzing block times, testing, and debating on what course of action to take, and running various scenarios based on several courses of action.
We debated about dropping POW, but after analyzing the potential outcomes, we felt keeping POW (at this time) was only to NETCOINS’s benefit to increasing the security/stability of the coin. with POW and POS running, an attack would require a 51% takeover of BOTH the POW and POS. The best possible solution was chosen and we have spent the last several weeks running this on the testnet in various forms to gather as much data as possible.
After block 530000 the following changes will come into effect.
- Block time for POW will remain at 1 minute.
- Block time for POS is increased to 2 minutes.
Additionally, in the new wallet (2.3.0), a Stake For Education (S4E) feature has been added.
You will be able to donate coins directly to the NETUCATE endowment (Netcoin Educational Trust or N.E.T)
- Coins sent will be staked, and all coins in that trust will be used solely for NETUCATE.
- Theme switcher, choose from a variety of pre-made themes or even make you’re own!
- PIR calculator providing you with the daily reward and yearly PIR rate based on the number of coins entered.
- New stores and services added.
- POW statistics updates automatically
- Minor bug fixes
Here is also some screenshots with the new wallet:
For download check Net Foundation Website:netcoinfoundation.org
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