StakeCubeCoin is preparing the SCC coin transition from PIVX to Dash codebase
By Inkarias - 2020-09-23
Regarding the previous announcement made by the team in the second SCv3 dev report, StakeCubeCoin, namely SCC will migrating from PIVX to DASH codebase. This choice is has been discussed and studied for a long time and comes with several reasons. First, DASH is overall a more safer and robust solution slower update intervals, and as the first masternode ever launched on the market, comprises a deterministic masternodes solution, also called DIP3, a great value-added for the future of SCC. Proof of Stake will be replaced by a Proof of Work consensus and masternodes with the collateral remaining at 1000 SCC.
These advantages will allow the team to focus on progress instead of having to constantly fight issues and fix vulnerabilities. With this vision, third party services and also our team can operate more smoothly and on a secure chain in the long-run.
Further details about the upcoming swap
To ensure a smooth transition to the DASH codebase, a coin swap is mandatory for all SCC community members and investors. The swap ratio is set to be 1:1, which means users will get the same amount of SCC that they send to swap. The only major difference is that the operations and the coins will run on a different chain with all the related advantages. In order to swap, users only need to deposit their SCC before block 480,000 on a platform/exchange that supports the swap. The rest will be done automatically and is free of charge.
The SCC team will mine the first block on the 1st of October, which ‘premines’ approximately 7,500,000 SCC. Assuming all SCC are swapped, and discounting coins not genuinely produced, there will exist between 7,388,625.72 and 7,162,443.30 SCC on the new chain. The final difference between the 7,5 million SCC premine and the swapped coins will be destroyed/burned after the swap period ends.
The swap information and exact details can be read at https://stakecube.info/