On December 13th, we announced that the long-awaited algorithm switch would be postponed to January. One week ago we were finally able to give some more information on the moment the algorithm switch is going to occur. Namely, in the last week of January. Today the time has come to release the definitive date for the algorithm switch: January 22nd. The algorithm switch will be instant, so make sure you get your AdCoin funds to the right place to have your AdCoin swapped to the new algorithm.
This means that the complete AdCoin community has one week to prepare themselves and possibly accumulate more AdCoin before the instant switch from Proof-of-Work to Proof-of-Stake with masternodes will happen. And because the blockchain is finished and ready to go, we are also able to release some extra details on the swapping, staking and masternodes.
The algorithm switch will only happen on the Crex24 exchange and the AdCoin web wallet. Cryptopia is unfortunately not able to support the algorithm switch because of the unscheduled maintenance they are dealing with right now. But because we do not want the AdCoin holders on Cryptopia to lose their funds due to something beyond their control, they will be manually assisted in swapping their AdCoin to the new algorithm when Cryptopia comes back online and the funds are safe.
To get into algorithm specifics, the new Proof-of-Stake algorithm will ensure one block to fall every minute. Per block and thus per minute, five AdCoin will be distributed or rewarded to staking and masternodes. And from these five AdCoin, three AdCoin will go to staking and two will go to the running masternodes. Please keep in mind that staking will only be possible within the AdCoin desktop wallet and will happen automatically.
We know swapping the algorithm to Proof-of-Stake with masternodes is exciting for the AdCoin community, that is why we want to be there for everyone to make sure everything will go as smooth as possible. The AdCoin team will – like usual – be available via Telegram and e-mail, so do not hesitate to contact us when you are in need of help or just a little more information.
For more information about the algorithm switch and the benefits of our new blockchain, it is also possible to have a look at our previous blog updates. For continuous updates please follow us on Twitter (https://twitter.com/getadcoin) or join our Telegram group (https://t.me/adcoinacc).
The AdCoin team
PS The AdCoin team is trying to get in touch with the Cryptopia team. Unfortunately we do not have information about the AdCoin funds on Cryptopia at the moment.