Quarterly Report- Q4 2019 – Dimecoin Network
First off, we want to wish everyone a happy New Year and hope that everyone stayed safe and enjoyed the holiday season. As we close out 2019 and move into the new year, we would like to take the time to thank everyone who continues to support our project, which has allowed us to get to where we currently are today.
Consensus Upgrade
Work continues to progress. Our goal is to make sure to avoid any significant issues with the implementation of the new consensus mechanism. Understandably, many eagerly are awaiting the update. As much as we would like to finalize a release, we do not want to jeopardize the blockchain or the foundation of our project.
The Dimecoin® blockchain is fundamental to our success. It is what separates us from a majority of projects within the crypto-sphere. The blockchain is going on its 7th year of existence and offers a highly distributed asset among its holders.
Additionally, Dimecoin Network did not perform any ICO or fundraiser. Nor did it have any control of the distribution of assets upon its inception. Our blockchain is wholly separated from the core team and is decentralized. This must remain as such. For this reason, we do not want to risk anything that would change the latter.
That said, we are confident that upgrading our consensus mechanism will offer us greater network security and will position us to remain competitive with our technology.
iOS
For those users who were previously using the Dimecoin iOS wallet, we have started to deploy some fixes to address the issues that were present regarding how the wallet handled change addresses. The team is asking for anyone who previously used the app to please reach out to us so we can gather some additional feedback. You can do so by joining our support channel on Telegram or sending an email to developer@dimecoinnetwork.com. Click here to access our dedicated support channel or follow the link included at the end of this article.
‼️ Warning ‼️
If you utilize Telegram, watch out for scammers posing as Dimecoin Admins trying to obtain information about your exchange accounts, wallet information, or private keys.
- Dimecoin Admins will never ask you for any login information regarding exchange accounts, private keys or other personal information through Telegram.
- As a general rule of thumb, Dimecoin Admins we will never direct message you first!
- Dimecoin Admins will never ask you to send cryptocurrency to solve any support related issues.
- Report any suspicious users asking for information in the main Dimecoin group as a warning to other users.
In our previous quarterly update, we explained the reasoning behind the creation of a new iOS wallet and the decision behind phasing out the current iteration of the application.
The development of the new app is underway and continues to progress. Our first step will be to finish a functional prototype of the improved application. The first version of this app will allow us to do some pre-alpha testing and receive some feedback on any GUI modifications that may be required.
Once that phase is complete, we will release an alpha version followed by a beta version. As each stage becomes ready for the public, we will be asking for additional feedback from the community, so stay tuned.
Cryptopia
Grant Thornton has been very transparent with the liquidation process of Cryptopia. There is an extremely important court date forthcoming that will help pave the road for how the rest of the liquidation process will be carried out. Two councils have been appointed to provide the clarification Grant Thornton is seeking from New Zealand courts regarding the liquidation settlement of the Cryptopia. Primarily they are seeking clarification on the following, are the coins held in trust and divorced from company assets? Or are the coins assets of the company and can form part of the liquidation?
Additionally, Grant Thornton has requested guidance on the roughly 500k accounts that hold less than $20 as the cost to administrate those accounts will exceed those accounts value.
The court dates were initially set for February 3rd and 4th. There was a continuance issued, and a new court date has been set for February 11th. Additionally, instead of a 2-day session, the court session will now last 4 days.
The next liquidator’s report is set to be released shortly after in the middle of February. For anyone following the case closely, you can read the latest, or any past reports, directly from Grant Thornton’s website linked here:
Exchanges
Toward the latter part of 2019, Dimecoin saw the closing of two exchanges it was traded on, Coinexchange and Nova Exchange. Additionally, Satowallet and Exchange closed unexpectedly.
We feel it is important to remind everyone that it is not safe to leave your assets on any exchange where you do not have direct control of your funds. Please, if you plan to hold your assets’ long-term, remove them from your exchange account and use one of our native wallets. As always, make sure to properly backup your wallets and keep your private keys safe! You are solely responsible for securing your assets!
Here is a link to our available native wallets:
Coin Market Cap
The Dimecoin team has applied and submitted the necessary information to be considered in the top 200 ranking coins on CoinMarketCap. Additionally, CMC is planning to create a direct access portal for the team to update information regarding the project sometime soon.
Lately, it has been a regular occurrence for a couple of our trading pairs to drop from being reported on CMC, mainly from Livecoin. We have yet to discover the reasoning behind this, but it does impact our reported volume and trading pairs.
As a reminder, individuals can look at our current markets and trading pairs via the Cryptoid block explorer and Coingecko.
SWFT
The Dimecoin team has submitted an application for integration into the SWFT platform and is awaiting a response.
What is SWFT?
SWFT is a platform that offers instant cross-chain swaps and payments.
Learn more here:
Published at Wed, 29 Jan 2020 02:05:23 +0000
{flickr|100|campaign}
