Quote from: BitSeedsFoundation on April 27, 2015, 10:25:17 PM

The mission of BitSeeds and the BitSeeds Foundation is to assist the Rainforest Foundation in their funding efforts. The coin was launched in a manner to allow for public participation in the mining process. A programmatic fix for the issues the blockchain now faces would take an unknown amount of time as the damage is truly unprecedented. We invite the public to download the blockchain and see it for themselves.

For every moment the blockchain isn't moving, the BitSeeds Foundation cannot carry out its mission. We feel very strongly that a solution must be created that not only gets the network operational in a short a time as possible, but is also fair and transparent to the community who has invested in the coin. We do not want to duplicate the problems that were experienced in the first 7 days of the network.

Towards that end, we would appreciate community feedback on the following solution.

We intend to create a new blockchain with the exact same number of coins that had been generated on the network as of block 76300. We are going to use the same blockchain parameters so old keys will still work. Coins will be sent to the exact same addresses on the new blockchain as currently exist on the old blockchain.

Consider it an effective hard fork.

While proof-of-work mining was originally desirable, the nature of the cryptocurrency space no longer affords an energy efficient manner of proof-of-work mining that is also secure enough for long term use. The space has simply evolved that quickly and that is a reality we must face. There is the possibility of a multipool in the future to allow miners to still participate distribution.

We are truly sorry such an unfortunate set of events occurred that created the position in which we now find ourselves. It is truly unprecedented in this space and the original blockchain will exist as a permanent testament to that fact. We will be happy to provide it to anyone in the future for their own research.

BitSeeds was created to cause a disruption. It already worked and we are just getting started.

Thank you for your patience and we welcome your feedback.

As long as all coin ownership is identical and does not change I support this. On the other hand if a single coin is somehow lost in this process you will effectively have compromised the blockchain in a far worse manner than has already occurred.