Announcement

Collapse
No announcement yet.

ADZcoin Masternode and Buzzex Coin Update

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • camohitmishra
    started a topic ADZcoin Masternode and Buzzex Coin Update

    ADZcoin Masternode and Buzzex Coin Update

    Hi everybody,

    Today we have 2 major announcements to make:

    ADZcoin Masternodes Are Integrated

    We are happy to announce that we have managed to integrate masternodes into the ADZcoin blockchain. This will happen with a hard-fork at block 500,000, which is nearly 50,000 blocks from now. (You can follow the block stats on http://adzcoin.net )
    Making the transition happens at block 500,000 so the new blockchain will run then with masternodes integrated and all other ADZcoin wallets will become obsolete and transactions banned. So all you need to do is:
    • Download the new wallet for Window 32bit / Windows 64bit / Mac
    • If you have coins in your old wallet make a backup
    • Add the backup wallet.dat file in your new ADZcoin core wallet in the %appdata% map



    Important: If you have an offline wallet running now you can not have both old and new wallets on the same system. So you either need to install the new wallet on another system or download it later when you don’t wish to make transactions anymore. (You can’t send or receive coins in the new wallet until block 500,000 is reached).

    Some other info related to mining rewards distribution:
    • 45% will go to miners
    • 45% will go to masternode owners
    • 10% will go to ADZbuzz for the budget



    This has been a long work but we finally managed to integrate the masternodes code into the ADZcoin blockchain. This will make ADZcoin a much better coin as it will now have Instantsend and Privatesend, making transactions go through in seconds rather than minutes or even hours, and allowing people to send transactions privately as well.

    At the moment we still need to set up masternodes ourselves, so if the new wallet doesn’t completely sync that’s the reason.

    Please note: we still need to add the ADZcoin logo to the wallet.

    Buzzex Coin Improved Specifications

    As you probably know we are working very hard to get Buzzex ready and will soon start the pre-launch to attract traders and sell Buzzex Coins at a discounted price. We have been thinking a lot on how to make Buzzex Coins even more valuable, and that is why we decided to have it run on its own blockchain. Here is some more info:
    • Buzzex Coin (BZX) will be a fork of PIVX
    • Every 60 seconds a new block is created and offers 5 coins to stakers, 5 coins to masternode owners and 2 coins for the budget.
    • It will offer 4 forms of rewards (apart from getting discounts on the Buzzex platform) for holders:

    1. Stakers: People can hold coins in their wallet (any amount) and earn more coins (40%)
    2. Masternodes: People will be able to set up masternodes when holding 10,000 BZX (same system as ADZcoin) and earn rewards (40%)
    3. Daily dividends and weekly airdrops of ACTs on Buzzex when holding 20K coins
    4. Decentralized governance budget: Allowing people to post proposals and receive rewards to help grow the project (20%)



    Please refer to this article to find all the info about the Buzzex Coin: https://pivx.org/coin-specs/

    The ultimate goal of the Buzzex Coin is to become the number 1 used coin in the world. For this, we need to have some sort of inflation rate. We have set the inflation rate at less than 1% yearly since there will be 750 million BZX initially created and less than 7 million new coins created on a yearly basis. The benefits are immense:
    • Every holder can earn more coins
    • We can have a masternode system to improve the specs of the coin (instantsend is huge)
    • Liquidity and velocity will be much higher so it can be used by online merchants
    • Deflation system is built-in!



    PIVX has an amazing system built-in which burns transactions fees. So the more the coin is used, the more coins that will be removed from the total supply. In fact, if there are more than 20 transactions per second, there will be a constant deflation of the coin!

    Finally, an extra word on the DAO that Buzzex will become with the decentralized governance budget. What this means is that part of the daily coin rewards can be used by people to submit proposals to help grow the project.

    Here you can see a list of proposals for the DASH project for instance: https://dashvotetracker.com/

    Here’s how that works:
    • People submit a proposal and ask for a reward to help grow the project
    • Masternode owners vote on those proposals
    • If approved, the budget will be sent to the submitter and he can be rewarded for helping the project grow



    DASH, for instance, has a budget of over $1 million to grow the project, just from this decentralized governance budget. This will help the project grow faster in a decentralized way.

    Conclusion

    We are very happy that we have finally managed to integrate masternodes into the ADZcoin blockchain and will be improving the quality of the BZX coin tremendously.

    At the moment we are working extremely hard to set everything up for the pre-launch of Buzzex to start and will have multiple ways to promote the project as well.

    We can’t give an exact date yet, but we are getting close.

    We also want to remind you that, in case you didn’t know yet, we have an airdrop of Buzzex Coins for ADZcoin holders. All you need to do is hold ADZcon in any of your ADZbuzz wallets and you’ll receive Buzzex Coins which can be withdrawn to your offline wallet for staking or setting up a masternode and/or send them to Buzzex to earn daily dividends.

    So don’t miss out on this special offer!

    That’s it for now, have a great day and see you in the next update!

    The ADZbuzz Team!
    Last edited by camohitmishra; 09-21-2018, 10:24 AM.

  • andhum
    commented on 's reply
    https://forum.adzbuzz.com/forum/cryp...de-setup-guide
    ask if you need help

  • FlorianBichlmeier
    replied
    (My English is not that good)

    I have some questions about ADZbuzz & Buzzex, I hope they will be answered in tomorrow's live event (28.09.2018)

    1. Will Adzbuzz Gold membership be renewed for free?
    - Some Adzbuzz members have already asked in the telegram group for a free extension Gold membership and have not yet received a reply ...

    2. What exactly needs to be done to account for my Special Ad Spots (10000.00000000 ADZ) for token calculation?
    - A little guide would be helpful ...
    - How can I then safely activate my SAS again?

    3. Can my recruited Adzbuzz members (Refs) register directly with Buzzex, or will I automatically be credited with these as Buzzex Refs?
    - Does this work in a similar way to the registration from Adzbuzz-Forum (one click registration)

    4. Will there be a comprehensive statistics page about Buzzex (eg user login, login, active users ...)?
    - Only available for Gold members or for all

    5. Can the new Affiliates links be tagged?
    Example:
    https://buzzex.link/go/?r=FlorianBichlmeier/Bing
    https://adzbuzz.link/go/?r=FlorianBichlmeier/Twitter
    https://buzzex.link/go/?r=FlorianBichlmeier/tube
    https://adzbuzz.link/go/?r=FlorianBichlmeier/Google
    https://adzbuzz.link/go/?r=FlorianBichlmeier/telegram

    6. Can we see some pictures or designs from Buzzex?

    7. Can you summarize the weekly live update in the future by a text report?
    - Unfortunately, I can barely understand the English live update.


    Answers from Jens Steyaert

    1. No because a lot of people renew their Gold and that wouldn't be fair.

    2. Just need to cancel it for now and then activate it again (we can do that in the backend will need to send a support ticket). Here you can cancel your SAS spot: https://adzbuzz.com/packages/my-special-ad-spots

    3. No they'll need to use your Buzzex referral link to sign up.

    4. That hasn't been created yet but we can add that during the pre-launch.

    5. I'll aks devs to have that created so you can see the traffic source of your referrals easily.

    6. Not yet, devs are still working on the code. When we have that we will announce it.

    7. Yes we'll have announcements section in the Buzzex help desk.

    Hope that helps!
    Last edited by FlorianBichlmeier; 10-02-2018, 08:16 AM.

    Leave a comment:


  • camohitmishra
    commented on 's reply
    Hi, we need time to have everything ready before the decided block arrives. Since we are focusing most of the time on Buzzex which will help ADZcoin, we needed to consider the available time. Moreover, when the price of ADZcoin increases the mining will go fast. So considering all these factors we decided on 500K block.

  • kingsmill71
    commented on 's reply
    "These changes will take effect from 500k block (please refer the image above we are currently at 450,270 block)." why have you set it at 500K block and not some lower figure that we will reach more quickly? Some think it may take 9 months or more to reach 500K. What is your opinion?
    I confess knowing little about these matters.

  • camohitmishra
    replied
    Originally posted by hotspot View Post
    Where do I go to learn all the different terminology? Everything I put in bold print and underlined I don't understand the meaning of it.
    Besides the ones below, here is another list.

    ADZbuzz-only airdrop, Buzzex Token Airdrop, blockchain, block height, block hash, and block generation.


    (You can’t send or receive coins in the new wallet until block 500,000 is reached).

    Some other info related to mining rewards distribution:
    • 45% will go to miners
    • 45% will go to masternode owners
    • 10% will go to ADZbuzz for the budget

    I can't even read the updates anymore because I need to download an app I guess with a smart phone in order to read the updates and general discussion. I don't own a smart phone. I didn't have any use for one until now. It's just another bill to pay.
    Hi, I will try to explain some of these.

    Airdrop - Its a system through which people get free tokens/coins on the fulfillment of certain condition. It means you will receive the tokens/coins without having to buy them. Those conditions can be like, signup to a social network account or a website of the project doing the Airdrop.

    Buzzex Token Airdrop - In the case of ADZbuzz, to reward the community for the faith they have in us or and support they have provided all these months, company decided to give Buzzex Coins, to show its acknowledgement, to the holders of ADZcoin in the ratio of 5:1. It means if you have 5 ADZcoin on a specific date, you will receive 1 Buzzex Coin.

    Blockchain - Its the technology on which projects in the Crypto currency Industry run. Blockchain can be split into two in order to understand, Block & Chain.
    All the transactions are clubbed in a block and with continuous flow of transactions (sending or receiving of coins on the network), there forms a chain of blocks. Let's elaborate with a hypothetical example.

    Suppose there are 10 transactions in 1 min. The network is designed to club all those transactions into a block every minute. It means every block will contain 10 transactions. Now, in the succeeding minute another block will be formed and another and another. All these blocks will stack over another and will form a chain together (hence, the name blockchain). When you download the Core wallet of any network (coin), you actually download the whole blockchain or the ledger (a record of all transactions from the very start).

    Block height - As the block chain is just a chain of blocks; new generated block stacked over last generated block, it's height is represented by a number. Please refer the image below.
    Click image for larger version

Name:	ADZcoin network block height.png
Views:	1
Size:	38.9 KB
ID:	24096


    Block Hash - Every transaction on the network has a Transaction ID and a hash. It has relevance in the process of mining. I don't have much knowledge in that.

    Block Generation - A set of transactions are clubbed in a block and every block is generated in a period defined in the network. In the hypothetical example taken above, a new block is generated every minute.

    ADZcoin New Wallet - ADZcoin specifications have been improved and it now also includes the Masternode feature. Since there are changes in the network, the old wallet will not be compatible when the changes take effect. These changes will take effect from 500k block (please refer the image above we are currently at 450,270 block).

    Reward Distribution - Let's take the example of ADZcoin to understand this. Currently when a new block is generated, the miner is rewarded 40ADZcoin (as also visible in the image above). But after 500k block when the changes will take effect, these 40ADZcoin on every block generation will have three parts; 45% will go to miners, 45% to Masternode Owners and 10% to company.

    Hope it helps. Anyone would want to elaborate on these explanations (or correct if it its wrong) you're most welcome.

    Regarding updates, we share them in the forum and send a mail, as usual. Some members are facing issue accessing the forum and many members find it easy or convenient to converse on Telegram, hence we expanded are presence there as well. However, you don't have to miss the excitement if you don't want to buy a smartphone and download the mobile app. Telegram has a desktop app as well and I guess you can also create a web account.

    Leave a comment:


  • Andrix
    commented on 's reply
    For many of those highlighted things you will have to do research on google because it will be much easier and it will consume less time + you don't need smartphone for browsing at google or following telegram discussion

  • hotspot
    replied
    Where do I go to learn all the different terminology? Everything I put in bold print and underlined I don't understand the meaning of it.
    Besides the ones below, here is another list.

    ADZbuzz-only airdrop, Buzzex Token Airdrop, blockchain, block height, block hash, and block generation.


    (You can’t send or receive coins in the new wallet until block 500,000 is reached).

    Some other info related to mining rewards distribution:
    • 45% will go to miners
    • 45% will go to masternode owners
    • 10% will go to ADZbuzz for the budget
    I can't even read the updates anymore because I need to download an app I guess with a smart phone in order to read the updates and general discussion. I don't own a smart phone. I didn't have any use for one until now. It's just another bill to pay.

    Leave a comment:


  • camohitmishra
    replied
    Originally posted by vnkvnk View Post
    Such a great update...now adz price must increase...but my questions
    (1) Everyone must have to download new wallet followed by backup..OR this programme is only for them who wants to participate in masternode programme ?...
    (2)And if this is must for all adz members then how much time we have..?
    someone pl guide
    Hi, the windows wallet will become outdated after the block 500k. How much time depends upon the speed of mining or block generation. You can follow that on the explorer linked in OP. However, if you keep your coins in any wallet in your ADZbuzz account, you don't need to do anything.

    Leave a comment:


  • vnkvnk
    replied
    Such a great update...now adz price must increase...but my questions
    (1) Everyone must have to download new wallet followed by backup..OR this programme is only for them who wants to participate in masternode programme ?...
    (2)And if this is must for all adz members then how much time we have..?
    someone pl guide

    Leave a comment:


  • biznocrats
    commented on 's reply
    camohitmishra Thanks for the information.

  • camohitmishra
    commented on 's reply
    Yes that's right. There's no minimum number of coins required for staking.

  • biznocrats
    replied
    So those who have BZX will participate in sharing Buzzex staking income proportionately without the need to have minimum BZX balance in order to qualify?

    Leave a comment:


  • Tarithel
    replied
    BTW, the wallet list only has wallets for Windows and Mac. I understand that this is probably a preliminary list, but I hope that a wallet for Linux will be available also. IMO the best option to run a masternode is to run it on a hosted Linux virtual machine and that requires a Linux wallet.

    And come to think of it, I think it would be cool if ADZbuzz could offer hosting services for masternodes. I would rather pay ADZbuzz for the hosting than pay some third party for it, that way the money would stay "in the system" and not leak elsewhere. Even better, ADZbuzz could have a hosting service specifically tailored for hosting Masternodes (ADZcoin & Buzzex Coin, maybe others as well?) so that non-technically oriented people could easily buy a Masternode and a hosting service for it. I'm fully aware that this would require "some" development resources and investment for the infrastructure and I'm not suggesting this as a short term solution. But in the long run I think this is something worth considering.

    Leave a comment:


  • Tarithel
    replied
    Wow, a great update

    We will have so many ways to earn ADZcoins and Buzzex Coins:

    - Mining ADZcoins
    - Running Masternode(s) for ADZcoins
    - Staking Buzzex Coins
    - Running Masternode(s) for Buzzex Coins
    - Holding Buzzex Coins on Buzzex

    Not to mention DFY, trading, etc.

    Very cool stuff, thank you ADZbuzz team

    Leave a comment:

Working...
X