StartCOIN 2.0As you may be aware, the StartCOIN blockchain has been experiencing technical difficulties for several days now, at times bringing transactions to a halt. This has been caused by migrant multi-pools, mining pools with extremely large computational power, raising the mining difficulty dramatically over a short period of time, and leaving the network unable to mine subsequent blocks due to insufficient power. This has the effect of transactions not being verified by the network, and becoming unusable for extended periods.
In response to this, we have decided that relaunching StartCOIN, with improved technology, is the best solution to the problem. The improved currency will include better protection from multi-pools, using the DigiShield retargeting algorithm; automatic checkpointing to improve network security and stop 51% attacks from occurring; and, finally, an ASIC-resistant proof-of-work algorithm, x11, to better distribute hash power and keep the network from becoming stuck in the future.
The relaunch will provide a cleaner, more stable codebase with which StartCOIN can operate from. We have opted to relaunch now, at an early stage in the life of the currency, to ease the role of developers writing software compatible with StartCOIN.
We will be providing a facility with which investors in StartCOIN can exchange their coins for those in the upgraded network, ensuring that nobody will lose out as a result of the transition. This will allow you to quickly and easily exchange your old coins for those in the new network. More details on the exchange service will be released shortly.
View this announcement on StartCOIN.org
