Topic: [ANN] KZCASH - KZC - page 33. (Read 73782 times)

Hi, guys! Why was I deprived holiday coins? I worked for http://kzpool.com!
https://chain.kzcash.kz/address/KhhrJf4uzbiHEnVNB82TFutQMUyabmKR5x

Dear Community!
We have been working hard from the very beginning to develop and lead our Community to prosperity.
All projects may have difficulties on their way to great success.
Our aim in burning was to decrease the coins we keep and need for step-by-step financing the project together with the Community held coins growth, so that decentralization will increase (and it happens) but the price balance is kept on a normal level.
Due to technical specs of our ecosystem the most evident and proven way of coins burning (OP_Return) hasn’t allowed us to destroy 100 000 KZC. They came back as commissions for miners working and 2 Masternodes. We asked the Community to refrain from transacting to make sure that the network is safe and stable. On passing the tests we confirm – it is.
The lucky MN owners were fair and ON their own wish returned the coins gained (40k and 10k).
Have a look on 40k return transaction
https://chain.kzcash.kz/tx/e2070222c9b0a9a146aacb817df94c3840e88550b423c95f1570ac875fa665fb
for example, special thanks to Mr. Bumbr. So the returned 50k will be burnt soon by sending to an invalid address.
We are expressing special thankfulness to the MN owners for their support and great willingness to support the Community. This step shows that we are really getting support in what we do.
The other 50k were distributed between the active miners on that moment. Technically the only possible way to restore the situation could only be hardfork with the Mining Pools support – and they were ready to support us despite possible losses.
On wise considering, we rejected this solution.
THE BLOCKCHAIN IS THE LAW.
We keep the situation like it is.
These 50 000 KZC remain distributed between the miners. Finally the worked hard to keep our chain running in heavy moments, they always supported us. So this is their Christmas gift.
Thank You dear miners for supporting us. Special thanks to Mr. Savva & Mr. Andrei, P2Pool nodes admins.
We advise to miners to use this coins for MN setups. More MN’s will make the network more fast and stable.
We haven’t planned the situation this way. But we respect 3 essential things:
1 THE CHAIN MUST STAY STABLE
2 BLOCK IS THE LAW
3 THE PROMISE MUST BE KEPT.
Having such a great support and trust from the Community, we don’t see price decrease, on the contrary, we believe it to grow due to the Community support and our next planned development steps.
Thank You very much.
We work for the Community!

Here is 50 000 KZC burning ttransaction.

https://chain.kzcash.kz/tx/75c0dc36bc3adce9169b5b9f00861e3f8a7fb19b4560ebd3eecf9ac7778a1091

Sent to KburndeadaddressdecembertenAQVLmuC - an address that does not exist.

Hello!

During the burning, our team formed a special transaction without Outputs, but with the OP_RETURN script, which makes these coins no more wasteful;

This method is the most reliable; the transaction explicitly declares that these coins are more non-expendable and there is not a single way to return them back or pick up any private key; the script for such a transaction can be freely seen through the block viewer, making sure by a single reference that these coins are more non-expendable.

Actually here is the result of this work:
- https://chain.kzcash.kz/api/getrawtransaction?txid=21271c6774315acf3fc81e1d8999a8dff7ef0230ff17146762ff3b24f5d653eb&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=e2eab4f0ffa522631e852e801089d026df2cf3c5ac70a063147e4192992ffa1a&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=ef179037ef7ffc0acc65e97a18c769912eb176901a58def18a0359c1e15d9597&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=720051f3294c8f4ab31a1ebf55bd0c01bf3238d491066d6d376c6825ecfd0400&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=cbb35c30e94fab100b361d5ed0d65e31c8f1dc74bd8f4c86d69638c269ced808&decrypt=1

But transactions with OP_RETURN returned to the network as commissions to the Miners and MN. We will post the technical details later.

We asked to suspend transactions to check the stability and reliability of the network. Verification is complete, the network is stable.

Do not worry, the amount of coins in the system has remained the same. You can check this by running the command gettxoutsetinfo (Tools-> Debug Console) in your wallet and look at "total_amount".

Thank you.

Dear Community!
The Network is stable and secure. Feel free to use Your wallets.
MNs mostly work fine, if anyone has difficulties just reastart it. In case of trouble apply to [email protected]

There is NO fork in the network. All transactions and wallets are safe.
The exchanges are announced to open deposit/withdrawals.
More details coming soon.
Apologize for inconvinience.

Community will not be damaged in any case.
Please be patient, we control the situation and work at the moment.

P.S. We always react in time.

P.P.S. Other currencies like Ethereum and even Bitcoin had their maintanence periods so that Exchage withdrawals were temporarly closed. It is not good but not a case to blame immediately and claim money. We work for the Community, our aim is to maintain both the network security and price. That was the reason for burning. So please wait a little bit.

Would be any compensation for community of mistake that have been done?

MN owners will have to restart their mn's when we finish maintenance works.
We will announce soon.

masternodes works correctly?

Guys burnt coins are unspendable.
All the users coins are safe.
We will announce on finishing maintenance work

No reason to panic, situation in control. Just preventure measures.

IMPORTANT ANNOUNCEMENT!
OUR TECH TEAM is doing security-related maintenance work.
The Pools and exchages are announced to temporarly stop work and trades. It will take only few hours.
Please refrain from using Your wallets and transferring coins.
We will announce at finish.
We apologize for inconvinience!

how this news can change price and future project ?

Amount burned: 100000 KZC

- https://chain.kzcash.kz/api/getrawtransaction?txid=21271c6774315acf3fc81e1d8999a8dff7ef0230ff17146762ff3b24f5d653eb&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=e2eab4f0ffa522631e852e801089d026df2cf3c5ac70a063147e4192992ffa1a&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=ef179037ef7ffc0acc65e97a18c769912eb176901a58def18a0359c1e15d9597&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=720051f3294c8f4ab31a1ebf55bd0c01bf3238d491066d6d376c6825ecfd0400&decrypt=1
- https://chain.kzcash.kz/api/getrawtransaction?txid=cbb35c30e94fab100b361d5ed0d65e31c8f1dc74bd8f4c86d69638c269ced808&decrypt=1

Video of the process itself: https://storage.waw1.cloud.ovh.net/v1/AUTH_d2bd3b6fcc444f3d9befc1aee8882f07/static/burn100k09dec2017.mp4

Details:
They were burned using OP_RETURN as the only tx output (see "vout" content), which makes those inputs being sent to nowhere and thus absolutely unspendable by anyone. It doesn't matter, if there any privkeys for those addresses or not: as long as those transactions doesn't have any address as output, those coins are not possible to use or transfer anymore.

You will burn 100 000 coin in 4 hours  
How much are the average number of mined coin till today ?

KZCash registered Company&office in Kazakhstan

https://kzcash.kz/index.php?option=com_content&view=article&id=47:kzcash-registered-company&catid=10&lang=en&Itemid=151

We work for the Community!

KZCash video report on Cryptocurrencyworldexpo
https://www.youtube.com/watch?v=ttkucN_vM1I&feature=youtu.be
Follow our Twitter @cash_kz

Next week EXMO coming. 2 more in audit stage.