Quote from: ohforf on August 13, 2017, 05:30:36 PM

Major Update

Coin Swap
Coin swap to new EQT Chain would happen on 20th August , 1 PM UTC .
The coins would be swapped by coinexchange .
Please move your coins to Coinexchange for the swaps by 20th August .
Those users who are not able to participate in the swap would have to prove ownership of the coins to be able to do swaps manually .
Coinexchange Link :- https://www.coinexchange.io/

Total Supply
The current EQT chain has a maximum supply of 75 Million coins with current supply of 7,957,043 coins ( 7.9 Million )
New EQT chain would have a minimum supply of 10 Million coins with current supply of 8,00,000 coins ( 8 Million )
The extra supply of the coin would be burned step by step after the swaps by coinexchange and manual swaps are completed

X11 Algorithm
X11s chained hashing algorithm utilizes a sequence of eleven scientific hashing algorithms for the proof-of-work. This is so that the processing distribution is fair and coins will be distributed in much the same way Bitcoins were originally. X11 was intended to make ASICs much more difficult to create, thus giving the currency plenty of time to develop before mining centralization became a threat. This approach was largely successful; as of early 2016, ASICs for X11 now exist and comprise a significant portion of the network hashrate, but have not resulted in the level of centralization present in Bitcoin.

The X11 algorithm uses multiple rounds of 11 different hashes (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo), thus making it one of the safest and more sophisticated cryptographic hashes in use by modern cryptocurrencies.

Thus, how much of the supply is supposed to be burned now?

(once manual swaps are completed)

Thank you

Snyler

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