was successfully added to your cart.

Meet the New Piggycoin

Posted by | 2014-05-23 | Official Statements | No Comments

BEFORE YOU READ THIS PLEASE UPDATE YOUR PIGGYBANK TO VERSION 1.4

You can now download the new Piggybank.

In short: Piggycoin is going PoS with multipool at launch, cutting the supply by 1/4 and adding x11 to the rest of the PoW. You will need to exchange your old coins.

 

Hey piggycoin community! First of all I wanna thank you all for staying on our side for this 3 months, it’s been a crazy ride!
Big changes are coming our way and the dev team wants everybody on the same boat so we will explain what’s gonna happen, why it’s happen and when it’s gonna happen!

The first big change is PoS, for those not familiar with it, proof of stake is another way of security our piggy network, this means “mining” as we know it won’t exist anymore and guess what? With PoS you will be able to win piggycoins just by leaving your Piggybank open! We won’t enter in many details on how this works because we don’t wanna occupy the whole page but if you want details of how much you’re gonna win we can give you the number: 15% of what you have for each year you leave it in your Piggybank!
And what if I want to keep using my computer to mine Piggycoins? This is not a problem, you will be able to do so with a slightly different method, as announced before Piggycoin will have a multipool, this is a place where you mine other coins and they are automatically sold for piggycoin.

Important: to become PoS in a secure way the piggycoin team decided to change blockchain. This means you will need to change your old piggycoins for the new ones, but don’t worry we are working to make this a really simple process.

The second big change coming is a reduction to the number of maximum coins piggy will have, in the beginning we aimed to have 2.1 billion coins and with this update only 500 millions coins will ever exist. This means the coins you have are 4 times rarer! Isn’t that great?

 

For better understanding of this messy plan we built a timeline (click to enlarge):