WALLET DEVELOPMENT UPDATE:
Okay, so our community chat session was wildly successful and we all agreed to implement the following:
NFACTOR - 1 less from what it is now, effective for 12 months
POS - 7 day POS system at 5.2% per year, which equates to 0.1% per 7 days. Max time = 30 days
No change to # of coins or ratio for now
The POS modifications are implemented and being tested. More news to follow on this. Expect an update shortly!
NFACTOR is actually far more complex than originally thought. Turns out dialing back could have severe, potentially crippling, repercussions. We are investigating how to work through this, if at all possible.
That being said:
NFACTOR will change as scheduled this Saturday, May 24th, 2014 @ 03:15:12pm UTC. We cannot risk crippling the entire blockchain in an attempt to force this revision. When the NFACTOR changes, please use the config generator to update your miners!
http://ultracoin.net/configgen_raw.htmlTo summarize, the wallet update will, for now, include only the POS modifications, NFACTOR changes are being discussed, and NFACTOR will shift this Saturday. We will keep you all posted otherwise.
Thank you for your continued support!