06/04/2017
E-Dinar Coin Hard Fork III To Be Completed Today
The third stage of updates of the E-Dinar Coin cryptocurrency (hard fork III ) will be held on April 3, 2017. The scheduled time for launching updates is 7 pm (GMT + 8), after charging daily interest, as reported by the official representatives of the company.
At the first stage, the mining was available without EDC transfers held on the account of each user.
In order to receive hourly mining at the second stage, it was necessary to keep funds on the balance within 24 hours in the view of calculating the maximum mining.
At the next stage of the development, the coin mining mechanism of one of the most popular cryptocurrency E-Dinar Coin switches to a new algorithm, whilst another point was added to the mining conditions:
Mining takes place only when the application is running on the computer for the versions of OS X, Windows, Linux, or the web version, and also if the Internet connection is always available.
Attention!!! When the computer goes into sleep mode, the mining is suspended. For the most efficient mining, we recommend that you turn off the hibernation mode in the energy-saving mode settings.
The condition for obtaining a daily mining is at least one transaction of at least 1 EDC per day remains unchanged.
Currently, the E-Dinar Coin peer-to-peer network consists of over 700,000 registered accounts. According to statistical data, on the average, 65,000 transactions are performed every day. Every hour, 175,000 EDC are transferred from one account to another, and every 1,5 minutes, a new account is registered. This is how the network works and develops, showing the results achieved through the constant search for better solutions for the further development of the platform. Each update was aimed at resolving the issues that many cryptocurrencies face when scaling a project. The E-Dinar Coin team analyzes and uses the experience of other cryptocurrency projects while forecasting possible future development challenges and projecting the situation of other blockchain projects to its own statistical data. Such analytics gives a lot of advantages and allows to avoid serious, negative consequences in the future, preventing them in advance. Thanks to competent research and acceptance of non-standard solutions, the cryptocurrency EDR will dynamically develop further, while maintaining stability.
The E-Dinar Coin’s mining algorithm – Delegated Proof of Stake (DPOS) – remained the same. The volume of your personal stake also directly affects a number of coins received due to mining. Transactions, as before, are being processed by delegates with the only difference that starting from now, every user who uses their wallets on a PC creates their own processing node through which transactions are relayed. Thus, each PC connected to E-Dinar Coin partially performs the role of Delegate.
Evenly distributed, the load for the current time will not use computing resources too much. Such a distribution provides higher throughput and network stability. At the same time, this decision is the first step to the introduction of the ability to obtain other cryptocurrencies within the E-Dinar Coin pool.
Users who support the E-Dinar Coin network are rewarded with the opportunity to obtain new coins. The amount of their reward depends on the stake, as in any DPOS mining. Thus, the more a user helps the network process transactions, the more coins they can obtain due to mining.
Users who are not interested in obtaining of new coins will not notice any changes, they can also use their mobile wallets to manage funds, use them for settlement between partners, pay for goods and services, or just keep funds in their account.
It should be noted, E-Dinar Coin is the world’s first cryptocurrency, which applied in practice two types of mining, one of which is building of the partner network.
All this is combined within a technical Blockchain-based mechanism.
As a reminder, earlier the company has announced the launch of the third stage of the hard fork and provided instructions.
