Topic: [ANN] ICONOMI - Fund Management Platform - page 793. (Read 1253953 times)

thanks for the information. can't wait to see how this will work. i am new to crypto and never used ethereum before.

@ICONOMI is there any chance you would use different platform if ETH network don't stablised on the target date of launch? will it take another extension if you shift to another platform?

It's called t-ICN. t as test.

It will be up and address announced once we deploy it. Read 2 posts above for full explanation.

Thanks TEAM Iconomi!
No sense in having "ICN Classic" on the "ETH Classic II" chain a day after launch anyways, haha

I was away from BTT today. I checked what was going on just now and I'll give a brief overview of today's happening.

First an answers to the question that kind of repeated a few times:
- option to remove eth address on ICO ICONOMI will be deployed tomorrow (Friday). I saw few questions regarding that. Till now, we were doing that manually. From now on, you'll have that option available in UI directly.

If there was anything else important I missed, please readdress, I'll check and answer when I wake up (I'm taking some sleep after hitting submit button).


We announced to have test-it ICN contract up today on mainnet. There was no way do deploy our contract. That's why, there is no test-it ICN contract yet.
This is technical explanation, therefore I would ask all google translate guys (gtgs) and trolls to refrain from commenting.

Gas limit is at 1.5m. Our contract takes ~0.8m gas. Most of blocks are empty, and rarely any block is full or half full.
Obvious question here is "what's the problem then".
As it turns out, the problem is with the ETH network attack which is done in a pretty smart way.
It doesn't cost attacker any ETH, but ti does cause network from effectively mining just a few transactions.

Miners now actually favour mining empty blocks! Funny thing, because they earn fee from mined transactions in mined block. Catch is that they don't know which transaction is which until they process particular transaction. And if they are processing attacker's transaction it can take 4-6s before they process it. That is over 1/3 of block time. Effectively in that time, another miner mining empty pool is more likely to find a block first and take 5 ETH block reward. While miner that accidentally hit on an attacker's transaction lost valuable time and most likely missed the block and full reward or fall out of sync. Ethereum does have orphan blocks, with reward 1/32 (correct me if I'm wrong). Economical logic here is to mine empty blocks or your own transactions only (because you know they are "healthy" - we saw that today too).

With that in mind, we were not able to deploy 800k gas contract onto the mainnet. We got in touch with 2 local mining teams if they could help us and we'll see if we can do something about that tomorrow.

However, even when contract is mined we'll still need to assign ICN tokens in test-it ICN contract to addresses, which might take additional time. In ideal situation that would be ~90 full blocks in a row. Unfortunately situation is not ideal at the moment.

We hope to get test-it ICN contract deployed and addresses assigned asap.
However, seems like hard fork is happening in roughly 80 hours. Release of real ICN tokens with that in mind will for sure happen after hard fork when situation calms down. Absolutely no need to risk few days for no reason. We're together on a long long journey that is just starting.


Patience is virtue.

it's actually mentioned in the faq since the beginning, but the good thing here is not rushing onto a chain that is about to fork and might not fix the issue. Not to worry, there are several options and several days to get it done.  
If you want to lay blame on delay, its on the ETH network and the person DDoSing,  not Iconomi... they are being very responsible by waiting and looking at other options in the meantime.

when do we get the 1 ICNX or what ever it's called to test the stuff? i added my etherum address to the ICO page in time. do i have to do anything?

I'm in no hurry and I won't be selling any ICN on the exchanges anytime soon, but I'm not married to the ETH network and its community in the slightest and I would like the platform choice to be left to the Iconomi devs so they can choose the most stable platform on which to execute the contract. If that network is Lisk rather than ETH so be it.

Iconomi is doing great job on liqui!

truly honest with you , i would love better to wait for eth than to swich to lisk!

Iconomi was very clear from the beginning that they reserved the right to switch to the Lisk platform should problems with the ETH network make the ETH network unfeasible. It was a big part of the reason many of us invested in Iconomi, knowing they had a back up plan should ETH go down.

that i can believe!
look how useful the eth even for the new tokens that are popping out and while bitcoin is out of the picture, haters are also targeting eth.

Sounds solid to me.

how do you see them really work for it, it must have been anticipated since before ICO

Making poor decisions regarding women and poker hands.

Thats just suck! we've been expecting a released since last week and i haven't slept for more than 48 hours already.


Such price is still very good. its the dividends to receive is what the rest of us are more interested. 

... this may end up over on the Lisk network before it's all over, so don't be surprised if it happens...  and it could happen fairly fast. The groundwork for such a sidechain has already been laid. (over at Lisk) shift is an example... except they aren't an official registered chain.

annoying thing is why ICONOMI part of the network ETHereum token, I do not look at the front of this thread and explained about the wallet from the beginning before the ICO started and see the poor results of 10 million dollars for a TOKEN under ETH network is experiencing problems

I have a feeling that these Eth problems won't be fix by next Tuesday.

This is so right. Whats the real rush? Gives the iconomi team a little more time to tweak things and work on the platform. Whilst also ensuring investors funds are not put at risk.