All hail king developer Borzalom of Xby
hope you bought the dip like I told you
MAJOR ANNOUNCEMENT
To our entire XTRABYTES Community,
The time has come sooner than expected. We are officially reducing the transaction fee to 1 XBY. That’s right, 1 XBY.
How did this happen before the XCITE release?
As you know, we have been dealing with a code issue over the last few days on the XBY chain. After extensive testing and various fixes, it has been determined that the best way to eliminate this issue with the old chain (which we must remain on for now) is to remove the POW coding and go 100% PoSign.
The issue is being caused by the POW backup code which we chose to leave on the chain while PoSign was being tested and rather than getting into the technical details, we will just explain what is happening right now:
1. All deposits and withdrawals must be stopped to ensure that your coins are not locked where you don't want them to be.
2. Exchanges have been notified to stop all deposits and withdrawals for the same reason.
3. Exchanges have been asked to make a quick update to avoid the long delays we faced last time.
4. After the update, we will have XBY running in a similar way to XFUEL, with a series of STATIC nodes (these are not the STATIC nodes with deposits, they are hardcoded, temporary STATICS on the old chain) and there will not be any other tech on the chain moving forward - only PoSign.
We did not want to update the wallet because as many of you know, we lost a tremendous amount of time on the last update. However, we are faced with this critical update and it has been decided that we will make all the updates simultaneously.
So, again:
POW is being removed and the XBY transaction fee is being reduced to 1 XBY.
There may be some delays before all the exchanges have updated their wallets, but this is the request we have made to them thus far:
Subject: ***Critical*** Major Wallet Update for XBY - Pre-Execution Warning
Hello Cryptopia,
***
Please reply when you have read this and are ready to proceed***
We hope this letter finds you well and that 2018 has started off great for you!
XTRABYTES has come to a point of a mandatory wallet update and we wanted to reach out to you quickly so that we can work together and prepare for an immediate switch to the new version. We know wallet updates can sometimes be a challenge and preparing like this to minimize downtime is in both of our best interests.
We are in a major growth phase currently and this is not a convenient update for us, but we have no choice due to a bug in the code and therefore, this is mandatory. We do however believe our update will help us maintain our Top 10 ranking on Cryptopia, so this is why we wanted to contact you directly with an explanation and thereby do this change over properly.
Wallet Version:
This will be communicated at execution time.
GitHub Link:
This will be communicated at execution time.
Mandatory or Optional: Mandatory
Special Information: We are reducing our transaction fee to 1 XBY and will, therefore, ask you to remove any extra transaction fees also. Thank you!
Thank you in advance for your full cooperation!
Please let us know when you are ready and we will push the updates for your immediate access and we will begin the change over in unison.
At this time PLEASE DISABLE ALL DEPOSITS AND WITHDRAWALS while we prepare.
Yours Truly,
XTRABYTES
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Once Borzalom has the new code ready we will email them again with the GitHub link and wallet version number so they can complete the work on their end.
We expect this to be resolved shortly.
Thank you for your patience!
CCRevolution
