As most of us surely know by now, the climb to the top can be a slow and steady one. It’s about gaining momentum and completing milestones (on the roadmap) one after another, time and time again. It may not always seem like things are moving as fast or smooth as some may want, but do understand that the ECC is always focused on moving in the right direction.
Think of the “snowball effect” for example. ECC started from a point of small significance and is constantly building upon itself becoming larger, graver and more serious — a virtuous circle!
We can’t go through with this dev update without talking about the announcement from Griffith made earlier on this week. Here it is in full:
“Since the next eccoind update will be forking to a new chain, the new daemon will be version 220.127.116.11. Planned changes for the next daemon:
- a bugfix for ans, its not a critical bug it just ends up being annoying
- a change to sha256 (on the new chain since we will now be running 2 chains in the wallet, the old one will eventually be phased out)
- staking kernel improvements
- better config file generation with a random password and updated nodes
- some other dev stuff most people don’t really care about (removal of a lot of boost deps, single build system, full test suite, gitian, and travis ci)
Also, messaging goes into its first round of testing Monday.”
All great news!
The switch to SHA-256 will make the initial sync much faster for the ECC chain (Griffith estimated 98% faster). One of our core principles is for an awesome user experience, and this greatly improves the initial chain sync. An initial sync time of 3 days would take closer to 80 minutes with SHA. The switch to SHA will also help to make our services much faster — a SHA block computes its block hash roughly 1000x faster than scrypt. This will make for an improved user experience for the use of all of ECC’s services going forward.
Messaging testing occurring is also another great step for ECC. Testing of our second core service begins tomorrow!
So… about this fork.
Questions come up all the time about what happens to your ECC coins during a fork, what happens if you do not update, etc. Let’s address these now.
If you have your coins in your wallet:
If you have your coins in the Sapphire or Lynx wallet, you simply have to update the daemon when it comes out and you will see no interruption in using any of ECC’s services. Sending and receiving on your end will work as usual.
If you do not update the daemon, then your coins are still safe, they don’t “expire”. It just means that you won’t be able to use any of the services, including sending/receiving to and from exchanges, until you are updated to the current daemon.
If you have coins on the exchange:
First of all, we couldn’t possibly recommend more to be using Sapphire to store your ECC rather than the exchange wallet. After all, Sapphire is a pretty sweet user experience. If you prefer to store on an exchange just remember this quote from Andreas Antonopoulos,
“Your Keys, Your Bitcoin. Not Your Keys, Not Your Bitcoin.”
Same goes for ECC. Anything can happen with exchanges.
If your coins are on an exchange, then you can expect that the exchanges will put the coin in maintenance mode and you will be unable to send coins in/out of the exchange until they update their daemon. In the mean time you can still buy or sell ECC. Any coins you have on the exchange will still “work” after the fork upgrade is complete — they don’t “expire” or become useless or anything like that.
Keep in mind that the exchanges can take a while to do this task though. It took several weeks for CoinExchange to upgrade last time.
We want to give a big thanks to Blackbeard for conducting a written interview with the ECC Team. This interview addresses what we all believe are great question that provide insight into what ECC is about and our plans moving forward.
We discuss topics such as the use cases ECC plans to cover, why ANS and private messaging are so important to the crypto world and how we plan to help simplify the usage of crypto for mass adoption.
Blackbeard’s original Medium article can be found by clicking the link (after hovering) below.
Interview with ECC Network Team
1. What is ECC and how would you explain it to non-crypto speakers?
ECC is up NEXT (Exchange)
Announced officially inside of a Medium progress update from NEXT.Exchange earlier last week, ECC is integrated into the NEXT.exchange platform. To further explain what being “integrated” means:
“What do we mean exactly when we say ‘integrated’? It means that a respective Blockchain is up-and-running and is connected to the NEXT.exchange platform. Integrated Blockchains simply require one ‘flick of a switch’ for trading to be enabled.”
To get more information on this integration and the other awesome things that NEXT.exchange has going on click the link (after hovering) below.
The Fresh Prince of Crypto Podcast
The Bull Pen Podcast successfully launched 2 episodes on Tuesday, August 21st across many platforms both conventional and blockchain based! There’s been nothing but compliments coming in regarding the first two episodes of the podcast and the support is highly appreciated.
And it only felt right to offer The Bull Pen Podcast on blockchain based platforms as well, so you can also find these interviews on Musicoin, DTube and Steemit as well. In fact, one of the DTube videos of the podcast actually picked up some Steem (pun intended lol) landing it on the homepage of the DTube website under the “Hot Videos” category.
Just as a reminder, the full website is still under construction, but very close to being complete. In the near future you will also be able to find The Bull Pen Podcast on YouTube, Soundcloud and Choon as well.
Bonus from The Crypto Bully
“As I was getting ready and setting up my official DTube channel for the podcast and preparing to load up my first video something hilarious happened.
I posted the snippet of episode 0 (about me) in the ECC discord, 2 days before podcast launch on August 21st, a member of the ECC team, @smaho, challenged me to do the Carlton Dance (from Fresh Prince of Bel-Air) in order for him to listen. Considering that I care about the opinion of my fellow team members, and being the humorous guy that I am…CHALLENGE ACCEPTED!!!”