We are fixing Asia Coin
We are fixing Asia Coin. We have developers onboard to do this and work is already underway.
Background: Asia Coin (AC) was launched as a coin with high potential, but the developer had hidden a code inside that hid a significant amount of pre-mine. Now, the community is relaunching Asia Coin with a hard fork. Multiple exchanges, including Mintpal and Cryptsy, have already risen voice that they are willing to list Asia Coin again, if the premine issue is fixed.
The fixing plan is as follows:
- We will use the existing blockchain.
Source code will be patched to void the premined coins in the original developer’s wallet, and to remove parts of the code that have hidden the truth.
- All your coins in your wallets and exchanges will still be completely valid. We will not invalidate the premined coins that were dumped on the market and sold to honest buyers and investors. This means that the total number of coins is increased by approximately 30 million.
- New client binaries will be released. In all likelihood you only need to backup your wallet in exactly the same way that you do when a new version of the client for any cryptocurrency is released. There will be no need to redownload the blockchain.
- The discussion is still ongoing about the amount of staking in the first year, whether we should keep the 100% staking or move to a lower value. You can discuss and share your opinions in our BitCoinTalk.org thread, liked below.
Our aim is to release the fix as soon as May 7, 2014.
You can visit http://www.cryptosteam.com for a list of people who lost their Asia Coin, there are a significant amount of money and investment at stake. If you want to be added to the list, send a PM to CryptoSteam on BitcoinTalk.