Topic: [ ANN ] SAT² - A new dawn - PoS - No Premine - page 57. (Read 133214 times)

Ha.  I was just typing a post asking for an update, hit submit and it showed your post.  Thanks!

Everyone get your space suits on! Our mission to Saturn is continuing and things are looking better than ever!

Our developers have spent the past weeks extensively researching and testing the transition to Proof of Stake (PoS). It has proven to be troublesome to convert a PoW-only chain to PoS without risking massive problems. The only coins which have successfully ran a PoW stage, followed by PoS-only, had PoS built-in from the initial launch. In order to rule out these problems, we have decided that switching to a new PoS blockchain will be the best approach.

There are various ways to switch to a new blockchain, and we have explored all possibilities. We have determined this will be the best approach:

• On the existing blockchain, we are implementing a few changes:
  
  - We are limiting the total supply to 7.77 billion coins.
  - The mining reward gets changed to a fixed amount of 10,000 coins per block, starting from block 77777.
  
  At the time of writing, approximately 7 billion coins have been mined. This means that  only another ~10% will be mined, which is necessary to allow for the transition to the new blockchain (if we would halt mining immediately, the blockchain would halt, meaning no more transactions can be processed).
  
  This step will take effect immediately - details are specified below.
  
  
• The new PoS blockchain is currently being prepared and tested. This blockchain will use the same prefixes as the old blockchain. This enables you to use your existing private key, so you can import it into the new wallet of the new blockchain. By doing so, you will be able to get use the same wallet on the new blockchain.
  
  
• On this new blockchain we will have a premine which equals the total supply of the old blockchain.
  
  
• On the old blockchain, we will setup an Exodus address. You will be able to send your coins from your old wallet to this address.
  
  
• We will be running a script which monitors all the transactions which are sent to this Exodus address. This script will be in control of the wallet which holds the premine on the new blockchain. It will send an equivalent number of coins that were received by the exodus address to the same wallet on the new blockchain (1:1).

Using this approach, everything will be 100% transparent, as every transaction will be visible in the blockchain (both on the old and the new blockchain).

We expect to begin the Exodus to the new blockchain next week as we complete the final preparations, and there will be plenty of time for everyone to take part in the transition.


Today we are commencing with step 1, meaning we are releasing a new wallet which introduces the reduced total supply and mining reward changes as specified above.

Github (source): https://github.com/satdev/Saturncoin
Windows: https://app.box.com/s/mktkghzsuztzxl81qm10


We encourage everyone to switch to the new wallet as soon as possible. No special changes are required, you may simply install the wallet the same way you installed your existing wallet.


This is a big step ahead in the history of Saturncoin, but it is the first step of many. The current developments are merely securing a stable foundation for the future of Saturncoin and to protect the investments of our community: every Saturncoin holder will be glad they didn't settle for the moon and held tight for Saturn instead.

Over the next couple of days we will also publish more details about some new exciting developments and our roadmap.

As a famous astronaut once said:
"One small step for crypto, one giant leap for saturncoin".

So I guess the biggest question is not how the conversion to PoS will be started today but will the conversion to PoS be started today?

I know, that's why I included the smiley and stated "for now".

Sell walls are scare tactics, but far to obvious by now (at least to whomever has been trading a few months).  

Would be nice to have some good news today and don`t forget about the other news on our causes ...
These causes are also important just like all the charts we are watching, keep an eye on them and spread the word...

for more information you can take a look  on our Facebook https://www.facebook.com/saturncoin are http://www.saturncoinfoundation.org/

Also these websites provide some more information.
Feel free to like them are give away some donations are spread the word about the causes ...They like any kind of support you offer.

https://www.facebook.com/RaabiasWWR
https://www.facebook.com/pages/STOP-THE-SERENGETI-HIGHWAY/125601617471610?fref=ts
http://saturncoinfoundation.org/causes/22-stop-exploiting-child-laborers
http://www.avaaz.org/en/aceh_rainforest_petition_ss_test_control/?feDTjhb&pv=55

so today is the big day 

Mike a lot of those sell walls mysteriously disappear during a run up in price, seen coins at 1 SAT on MintPal with 150 BTC of sell walls vanish in a 30 minute spike to 17 SAT.

Just now I saw that you would need 120BTC to get up to 20 satoshi on Mintpal

Than another 40 to get to 30 sats and after that it's wide open country (for now).

A point of correction;  The saturncoinfoundation.org website still points to the old Github Source and Wallets [https://github.com/saturncoinnet/Saturncoin] and not the new one as on OP [https://github.com/Kryptoz/Saturncoin]. Ciao.

Alright, one day until we have big news.  Fingers crossed.

+1

I store my coins in exchange. I hope our coins will be OK. An official announcement would be great.

Cool, excited for the changeover, maybe we will get a pop like Reddcoin had today after their PoS news got out.

Devs will implement the POS change in 2 steps.

Less than 2 days for first step, Devs are compiling and testing the release wallet.

Rich List will be worked on and available once the update is done.

Thank you for signing and liking them ... And I hope that soon we will get some donations running so we can give away some money without using plastic cards...

I saw that Walk With Rangers is looking for fundraisers  maybe we can help them some ..

We request that you launch your own fundraiser on a crowdfunding platform or through your family and friends; aimed at raising funds to help us launch an anti-poaching unit for Kenya and a mobile veterinary unit for Tanzania. Please aim to raise at least $500 but any amount will be accepted with gratitude! Alternatively, you can direct sponsors and willing donors to our existing platform on this link. ( http://bit.ly/1gWAmBt )

They want to (buy) rangers and goods for protecting the wildlife .... its a good organization and the money will go straight there..

Here some information what things cost, took it from there facebook.. https://www.facebook.com/RaabiasWWR

$35 pays for radio comms for a month for the team
$20 feeds a ranger for 3 days
$50 buys a pair of strong boots for a ranger- vital to keep feet protected whilst monitoring in harsh terrain
$90 caters for insurance for one ranger for one month
$100 buys a uniform for a ranger
$150 pays for one set of boots and a uniform for one ranger
$200 buys a pair of strong binoculars for the team
$ 250 A hand held radio
$300 pays for the salary of a head ranger for one month
$ 300 Pays an emergency security driver for a month
$ 500 keeps the vehicle on the road for a week, responding to emergencies
$1500 pays for the maintenance and oil changes of our anti poaching vehicle for one month

**CRICKETS**

it will be launched in 2 days? i dont think so... i think we should have an update regarding this... speaking to myself, i invested a lot in this project

One of the Dev team should have a link to this info somewhere if they plan to use it to determine the 1% MP payout.

Yes, I'm really curious about the top 10 too, I think it starts around 100 M and the top 10 should control 20% of the market but it's just an estimation. Wait and see.

Anyone got a link to the Saturncoin richest wallets list? Curious to see how many coins it takes to get in the top ten and collect a portion of the 1% from the new Multi-Pool.