Today, we are announcing some dramatic improvements to the 1CR coin to address some of the impediments to adoption that have occurred in the past few months.
The coin was designed to be very secure, have little adoption by the multipools, and to be used for longer term investment uses (such as banking in the simulated worlds of OneBillionHex. One of the chief complaints to many of the pool operators was the extended time before pool users were able to receive their first payouts. This was due to two security measures of 1CR: 1) 256 required confirmations, and 2) a defensive difficulty retargeting, designed to discourage mulitipool raiding of the coin during low diff periods.
Without pool cooperation, we found that general adoption of the coin was low, and the coin would be mined in a very dramatic roller coaster difficulty fashion, which led many to give up.
After careful lab testing – a new source code has been release, that goes into effect at block 4000 – probably within the next day or so.
The new source code will reduce the confirmations to a still very secure 156. Note that most wallets add 20 to this. As well, the difficulty retargeting has been ‘dampened’ to still discourage multipool raiding but provide a more consistant coin time. We hope these changes will encourage pool owners to re-adopt the 1Credit Coin (1CR). This should start to produce a bit more coins daily, and allow the pool users to receive their coins in a targeted 25 hours, versus 3-4 days the old settings yielded.
The coin is still a very rare coin, and is designed to have minimal forks (several months old and still not a single fork!), and minimal risk of double spend attacks. There was zero premine, there are not secret payouts in the code, no IPO, and the only way the Dev or the team can make money on this is the same way you can, mining the coin. It has held a pretty good value on Poloniex so far, even with the earlier design inconveniences, and we expect it to be a great coin to buy and hold as it gets integrated into the Crypto Ecosystems.
We need some community support, in the form of a few new pool operators, to really make this relaunch a success. PM the Dev and he can introduce you to a few experts if you need a hand.