Topic: [MOJO] MOJOv3 has been taken over by new devs - page 92. (Read 167301 times)

Yes, thanks, it's a work in progress and there will be more contents soon...

Yes, I checked it due to your commentaries and I also like it.

It is clean, simple and minimalist, yet professional looking website design.

the new website is really nice 

This is wonderful news...very well stated.

Looking forward to the new wallet!!

great news
many people were expecting details
translated and add to russian ann )

Update

We were planning to implement a hard fork at block 100,000 to activate a fix for the PoS overflow issue and also fork in the masternode network and other features. We are running behind schedule with the wallet and will push the hard fork forward to block 110,000 (roughly 13 days from now (which is block 92,924 at the time of writing this)). This will take us to Sunday 15/05/2016 at around 1630 hours (GMT). We will make every effort to release the new wallet at least 7 days ahead of the hard fork, so around 08/05/2016. We will announce this here, on Twitter, on the Blog, on the website and Facebook and contact the exchanges directly. We also need to update the seed nodes and Tor nodes and the block explorer. There should be plenty of time for everyone to get the upgrade done.

As you can see in the block explorer, we are testing the new wallet as we speak:



Link HERE

I will explain the issue that is seemingly taking a long time to sort out. We are changing the PoS system, not just the overflow fix but the reward reduction schedule as we had to find a satisfactory way to reward the masternodes and compensate for the low stake due to the overflow bug. So the updated specs. are as follows:

TOTAL NUMBER OF COINS: 100,000,000 (100 million)
All the coins were generated in block 1
Proof-of-Stake reward scheme: 15% annually reducing by 1% every 250,000 block until the reward is 1% annually (after about 7 years)
Masternode rewards: 15% annually (not reducing)
Masternode collateral: 200,000 MOJO
Target Block Time: 1 minute (real world average is around 65 seconds)
Difficulty Retargeting: Every Block
Min Stake Time: 24 hours
Max Stake Time: 30 days (after 30 days your stake weight will not increase)
Max Coin Supply: 160,000,000 MOJO after 10 years (estimate)

Link HERE

To be able to test the staking, the test wallet needs to run for 24 hours for the coins to mature before they start staking. We have then had a few bugs to iron out with the staking and every time an invalid block has been submitted to the network the wallet has been banned and we have to make adjustments and wait another 24 hours etc. This is why the testing is taking so long. The actual coding is there, it's a matter of minor adjustments and testing. I hope that makes sense. We do not want to take any short-cuts and we want to make sure that everything works as it should.

The new reward scheme will compensate for the lower than expected initial stake rewards without inflating the coin supply. The new reward scheme will over the course of 1-2 years provide a higher return for long time stakers and will make it increasingly difficult to obtain the collateral for a masternode. We believe this scheme is a good balance between value generation / coin supply / inflation.

As soon as I have any news, you will be the first to know...

Last word on BITZ - see the thread: https://bitcointalk.org/index.php?topic=1234442.100 - it's all explained.
Any posts related to BITZ will be deleted as this is not a BITZ thread. I have no issues discussing BITZ but someone will have to start a new thread.

There will be a Linux as well. There will be an update later on tonight or tomorrow re. the new wallets. There are a lot of issues that needs addressing but we are almost there.

I stands for Linux, no problems with Linux distributions.

Hi there,

Is the current wallet for Linux stable and will the new wallets version will include the Linux one as well?

Thx in advance.

Thanks CryptoHobo! That is what I mean. There seems not to be long time span between release of the new wallet and the upcoming fork.
As I am not following developments daily here just as many other investors I am concerned that issues for some could easily arise due to this.

It's nice to hear, keep up the good work dev we're all behind you.

That's a great point motorhead, I totally agree with you on moving one's coins off of the exchange and keeping care yourself. No reason to risk it.

 

 

I am excited about all the MOJO news and the roadmap ahead. I am contemplating the same thing about staking coins now and updating the wallet soon or staking coins after the new wallet comes out.

I think I am going to transfer my coins from Yobit.net before the Wallet update and just start staking now and backup my wallet before I run the update for the new wallet.

I am sure Yobit.net is on top of things, but if yobit.net doesn't update immediately then you won't be able to move coins to the new wallet from an exchange I presume until the exchange updates also.

I think I am safer keeping care of my own coins than trusting them elsewhere. Just do backups often on a different drive than the wallet is stored on.

ALSO...I am not much of a help with ROKOS as I have a Pi 2, but my wallet is active on my file server running Windows Server 2008 with two 80gb Mechanicals in Raid 1 as a boot drive.

Anyone know if ROKOS users will be able to update directly from the ROKOS repository. I just set up my ROKOS wallet last night and was planning on starting to stake today. Thought I'd stop by here to see what was going on before I bought more, or HODL what I have to watch price. Should I even start staking or should I wait till after the 5th and redo my wallet?

usually as long as you've updated before the fork you should be fine

so the sooner the better (ie as soon as the wallets released) the forks in the 2nd week of may if memory serves

Will it be necessary to update the wallet straight away or can this be done weeks / (plenty of) months later? Or could this create difficulties?

We will work towards the exchanges as soon as the new code is ready, I don't want any new exchanges to run the old code only to have to update in a matter of days. Please be patient for another few days.

This is not a BITZ thread, please discuss BITZ elsewhere. If you direct me to a BITZ thread I will answer questions there.