Hello all Bitcointalkers,
I am seeking response from all holders of Colossuscoin for a number of large changes currently happening in the community.
I am working along side members of the community in building the coin that will replace Colossuscoin through a coin-swap off the exchanges.
Here is some of the preliminary changes
which are subject to changeProof-of-stake will be 0.25%
We lower the number of days for stake: minimum stake age every 7 days
Transaction fees will be 0.1% to start.
Approx. 313,000,000,000 COL will be reserved for the swap over (1:1 ratio) and 67,000,000,000 new COL will be added to pay IPO investors and developers (col1.0 patches and col2.0 development) and what is left will be added to the Development Fund for future costs and bounties.
Coin Specifics
Parameters for the new blockchain
- 100% Proof-of-Stake currency
- 550 billion coins total
- 0.1% Transaction Fees or 1 Col whichever is higher
- Tx Destruction Fee of 0.02 Col included in all transactions
- Proof of Stake 0.25%, 7 days/14 days Max Weight
- Fee Mining 7 days/14 days Max Weight
- Block Time of 25 seconds or less
- Big annual PoS, annual interest eligible for coins which have been stationary in a user's wallet for at least 7days
- New COL Client for Windows-Linux, Mac OS, Android, Secure Online Wallet as well
I also believe we will need the patch urgently for COL1.5x before we finish and announce COL2.0 for the withdrawals and transactions to function properly.
I am willing to spend some BTC for COL1.5x patch in order to get COL back from the Dev Fund when everything is finished.
Best,
Sudo
Static pieces are the 380 Billion premine and 0.1% transaction fee and approximately 10% inflation to start
Pieces under debate are
Minimum fee, staking weights, fee allocation, algorithms and funding input.
Additional pieces to be added in before launch will be an additional 0.1% fee which will feed into a central fund managed by the Development Team.
There is no cost in order to be involved and once I have gone through all input and objections it will be built and will go into testing.
I am aiming for one week for the finalization so please speak up and have your say.How this will affect Colossuscoin HoldersWe are creating a more centrally run foundation and providing a patch and the option for all holder to swap over for a limited time through sale of the final product.
It will be everyone's choice whether they decide to swap their coin over. The swap will happen off-exchange and coins swapped over will be destroyed.
Those that do not swap over will be left with a reduced total float and a better operating coin. Those that do swap over will receive a large portion of the remaining coins at the end of the swapover through their coins relative to the total float.
This is an extension of the IPO thread I had posted a couple months with a large amount of changes in order to handle funding in a safer way.
https://bitcointalksearch.org/topic/ann-the-colossuscoin-20-ipo-and-whitepaper-540149A fair bit of the in depth discussion and changes was recently moved from the Development Team section into more public areas. The IPO thread up for debate is viewable by anyone
http://colossuscointalk.org/index.php?topic=545.0Discussion of Funding (
http://colossuscointalk.org/index.php?topic=635.0 ) and recent progress on Building (
http://colossuscointalk.org/index.php?topic=635.0 ) is viewable by registered members.
Hopefully there isn't too much trolling on such an endeavor and I will do my best to answer any and all questions people may have.
Crestington