The core team of Bitgreen has recently shared the news that the chain is finally finished with different development and testing cases. The wallet update & blockchain transition is right around the corner and should be officially released to the public in the upcoming days.
The first step toward this major change in the Bitgreen ecosystem will start with the snapchat in 2 days: The current existing BITG chain will be snapshotted at Block 870,000.
? $BITG Chain Swap Announcement! ?The new #BitGreen chain is finally finished with development and testing. The wallet update & blockchain transition is right around the corner!?⛓️ Be ready for a snapchat in 2 days: The current chain will be snapshotted at Block 870,000.— BitGreen (@BitGreen_) November 17, 2019
New chain swap & launch details
BitGreen team has officially asked all the exchanges and third-party partners to
immediately halt deposits and withdrawals in order to safely transition any coins users may hold there. Rewards earned after block 870,000 will not be considered as valid on the new updated blockchain. Further instructions on “how-to-perform-chain-swap” will be released shortly by the team and will be made available for the public. More importantly, users will need the current wallet private keys for the new upcoming chain and to upgrade without any issues. The future latest wallet will be released in the next few days as well as the official documentations.
The chain will launch with a block height of 0. There will be a fair launch period on the new chain from blocks 0-5000 with a reward of 0. At Block 5001, reward rate will return to 10 $BITG per block, 85% MN / 15% PoS, with a 10% governance allocation and a block time of 2 minutes.
Given the maintenance period, the next halving to 5 $BITG per block will be pushed to Block 175,000 which equals to June/July 2020 (originally planned for february 2020). Finally, further halvings will occur every 525,000 blocks thereafter, staying in tune with BITG’s original halving schedule especially adjusted for block time.
More information at https://bitg.org/