Mining Sunrise Phase

From WikiName
Jump to: navigation, search

See: Main_Page

Overview

Initial message on Telegram, 6/29/2018:

Hello Everyone. Thanks for your support and interest in the project. It's end of Q2, and we have a very exciting announcement to make.

We will reset TestNet in 12 days, on Wednesday, July 11 at 10am EST.
This will start a "Mining Sunrise" period that will last until the official MainNet launch.

1. During this "Mining Sunrise" period - from the TestNet reset and until MainNet launch - the address and balance for any non-zero balance on TestNet will be carried over to MainNet. This will work for NodeCore version 0.2 and greater (current release is 0.1.7 - so when 0.2 is released on July 12 you'll want to upgrade to that). Therefore mining will be essentially live on TestNet during this period, and after this period Mining will be live on MainNet.

2. To engage our community, we will start a bounty program, with rewards given in VBK coins. Details of the bounty program will be released shortly.

3. A UI wallet will be released.

The purpose of this reset and honoring mining and bounties is to further engage the community before the final MainNet launch. Therefore to include CPU miners, the GPU miner will still be throttled.

Initially GPU mining will be throttled, however we encourage CPU miners to seek a pool. At some point in the near future, an unthrottled GPU miner will be released.

MainNet will be launched some weeks after the TestNet reset.
Like other blockchains, MainNet will run side-by-side with TestNet. 
Addresses and balances will be transfered from TestNet to MainNet, TestNet will be reset and relegated to purely a TestNet network.
This will end the "Mining Sunrise" period.

At MainNet code will be open-sourced.

Get your miners and wallets ready!

Thank you,
Justin and Max

Timeline

  • June 29th - Announcement made, start preparing!
  • TBD - initial list of bounties made public so that people can start preparing
  • July 11 - "Mining Sunrise" Period starts
    • Version 0.2 of code available on github
    • Mining on testnet will have addresses with a balance carried over to MainNet (will require version 0.2)
    • Bounty program starts (details to be announced)
    • GPU miner still throttled to give miners a chance
  • TBD - MainNet Launch
    • Like other blockchains, MainNet will run side-by-side with TestNet.
    • TestNet will be reset and relegated to purely a TestNet network.
    • Code is open-sourced
    • GPU miner is unthrottled by now (an unthrottled version may be released early)

FAQ

How will mining work on TestNet during this period?

The address and balance for any non-zero balance on TestNet will be carried over to MainNet.

Such mining will be done with version 0.2 or greater, and only during this "Mining Sunrise" period.

Do VeriBlock TestNet Coins Contain Value?

Normally the whole point of a TestNet is that the coins do not have value.

When VeriBlock does launch MainNet, that will be the case with VeriBlock too.

Strictly speaking, the coins themselves on TestNet - even during this "Sunrise" period, do not have value.

What will happen is that upon MainNet launch, all TestNet addresses with non-zero balances will be awarded their corresponding TestNet balances at the time of launch.

Therefore coins that are mined during the "Sunrise" period (where they do not have value because it is still a TestNet) will appear on MainNet launch.