On November 14th, we did a press release. In this press release, which was published on multiple websites, we made public that AdCoin will be switching from Proof-of-Work to Proof-of-Stake on December 20th. Since then, a lot has happened.
We started off by reaching out to all parties involved in the algorithm switch; all of the current exchanges AdCoin is listed on, masternode websites, etc.. Unfortunately, not all of these parties have responded as of yet, which makes completing the algorithm switch much harder.
Furthermore, the end of the year is running near, with all the holidays included. This timing makes the algorithm switch on December 20th even more difficult, because we want to offer full support to all AdCoin holders while the algorithm switch lasts.
That is why we have decided to postpone the algorithm switch to January. The switch will not be happening on December 20th, and an exact date will be announced on January 3rd. Despite the fact that we find this very unfortunate, we want to give more specifics on the algorithm switch itself.
The algorithm switch will namely happen through a coin swap. And to give all holders the time to swap their AdCoin to the new algorithm, everyone will have 30 days to do so. More specifics on how the coin swap will work are going to be mentioned on January 3rd.
Postponing the algorithm switch will give all AdCoin enthusiasts extra time to accumulate AdCoin and a possible masternode. Furthermore, this buys the AdCoin team some time to get in touch with all parties involved and do the algorithm switch in more positive market conditions.
For more information about the algorithm switch and the benefits of our new blockchain, please have a look at our previous blog update. For continuous updates please follow us on Twitter (https://twitter.com/getadcoin) or join our Telegram channel (https://t.me/adcoinacc).