Five Years... It's Been A Long Time Coming.
Hello PotCoin Community! Happy 5th Anniversary!
Over the past couple years we’ve watched and learned as the crypto-space has evolved and matured. There is no doubt that since 2014, PotCoin has experienced its share of growing pains, but we’ve been listening carefully to you, our loyal community, with the hopes of understanding, addressing and solving these issues and concerns and to bring to fruition everyone's hopes and dreams for PotCoin.
While we’ve been great at getting people around the world to hear and learn about PotCoin, we realize we’ve encountered some roadblocks while trying to get everything else we’d hoped to achieve by now completed. After several months attempting to expand our development team, we finally found the missing piece of the puzzle.
The prodigal son returns!
In late 2018, we successfully enlisted two key professionals to help us get back to our roots, literally. The first being none other than the founder of PotCoin itself, Joel Yaffe. Joel stepped away in early 2016 to deal with a serious medical situation while the new team stepped in. Thankfully Joel is back on track, healthy as ever. As the founder of Ideas2Market, he’s been busy incubating tech ventures and taking products to market, including some in the cannabis and blockchain space. Fortunately his love and respect for PotCoin and its community has never faltered and now that he’s back, he’s ready to focus on the next chapter in the PotCoin saga.
- HD Wallet - Newly created wallets will use hierarchical deterministic key generation. Backups of HD wallets, regardless of when they have been created, can therefore be used to re-generate all possible private keys, even the ones which haven’t already been generated during the time of the backup.
- Reduced synch times - Faster and more robust network synchronization will improve the user experience and remove the need to bootstrap by downloading chain data files. Current practice has been to download these files from a centralized server when initially setting up a new wallet or node to decrease network synch times.
- Proof of Stake v3 - Based on the work done by BlackCoin and by Pavel Vasin (www.blackcoin.co), this upgrade will bring the PotCoin Core up to the latest PoS consensus protocol. With the new protocol, possible attack vectors are significantly reduced and the incentive to support the network by having a full node running continuously is increased. This will allow PotCoin to continue to scale for mass adoption while plugging and mitigating potential risks.
To partake in the testnet you will need to download a new PotCoin HD wallet which is available directly from our website: https://www.potcoin.com/wallets or through our Github: https://github.com/potcoin/Potcoin-Binaries. You will then need to acquire some “test coins” for the “testnet” from our faucet which can be found here: ADDRESS FROM JIM HERE