Wormhole V2

WomrholeV2MilUpdate

The wormhole was one of the rare and most beloved features of EMC2. It created heightened anticipation for big block rewards. It attracted the mining community and traders alike, and ultimately inspired crypto developers to determine Wormhole range. Driven by our past experience with EMC2 wormhole, we developed new wormhole algorithm for MIL with several new features that will reward loyal miners and keep network safe and steady at same time.

Wormhole is event during which block rewards are significantly higher than the standard ones. Here are more details regarding wormhole V2:

  • Block mining will be split into 296 epoch where wormhole will occur only once per epoch (except first epoch where there will be no wormhole event).

  • One epoch last for 36000 blocks.

  • Start of the wormhole event during the epoch will be decided pseudo-randomly.

  • Once wormhole starts it will last for 8640 blocks (~6 days).

  • During the wormhole block reward will start to increase and it will reach 432 times regular block reward on the middle of the wormhole event. Then it will start decreasing again to reach regular block reward when wormhole ends.

  • During the wormhole each mined block will have 16% chance to be the premium one (high reward) all others will still have regular reward.

    Here how it all will works on simulations we ran past few days, where X axis represents block height and Y axis block reward:


Wormhole V2 simulation: One epoch of 36000 blocks where wormhole started on block 57921 (21921st block of the epoch). We can se how reward drastically increase during the wormhole period.

Wormhole V2 simulation: One epoch of 36000 blocks where wormhole started on block 57921 (21921st block of the epoch). We can se how reward drastically increase during the wormhole period.

Wormhole V2 simulation: Graph that is showing more closely just one wormhole event with block rewards.

Wormhole V2 simulation: Graph that is showing more closely just one wormhole event with block rewards.

Wormhole V2 simulation: Graph showing start of the wormhole event. Here we can better see not all block are getting the high reward and probability for block to hit the premium is 16%.

Wormhole V2 simulation: Graph showing start of the wormhole event. Here we can better see not all block are getting the high reward and probability for block to hit the premium is 16%.

Wormhole V2 simulation: Zoomed in graph to display 100 mined blocks and their rewards during wormhole event.

Wormhole V2 simulation: Zoomed in graph to display 100 mined blocks and their rewards during wormhole event.

We hope you are all excited as we are and we can’t wait to see it in action on our new MIL coin network.

Einsteinium Developers

EMC2 FORK update

Matija Mitic, core developer:

’After almost a year of, on and off, work on FORKING EMC2 into GPU friendly chain, Ethash Algo combined with Einsteinium Core is now stable project. Major vulnerabilities and minor bugs are removed and wallet is proved to be resistant on malicious attacks related with algo change.


Team was analyzing different possible solutions for mining pool implementation. Combination of well proved algo such as Ethash and stable, long term project such as EMC2, involved some new implementation difficulties. Einsteinium is Bitcoin like project that uses different block structure unlike Ethereum. New attributes are added to original block structure in order to support Ethash algo. In similar way, existing Ethereum Stratum pool is modified to work with EMC2 RPC API and vice versa. New stratum pool proved proof of concept and support multiple types of workers that use Ethminer, but still requires testing with various ranges of hash power with coin difficulty monitoring.


Adding new attributes into original block structure requires EMC2 chain replication in order to keep funds to original users wallets. Team is now working on this delicate piece of code that will converts original EMC2 chain into new one, that will be used for new coin.

Analysis of the previous problems with Wormhole feature, shows it’s main disadvantages which is the main reason why this feature was excluded from EMC2. But Wormhole was a very strong idea of rewarding loyal miners which should not be excluded. With Komodo support, already tested dPoW and some changes into block reward implementation, great Wormhole will be back again! Developers are now working on new implementation which will combine good old features with some major improvements.


At the end of preparing new coin, it’s needed to perform some regular fork changes into wallet implementations that will make new coin unique in a crypto world, regardless of some major and already unique changes described here.’


Full EMC2 FORK 'Blue Paper' and Timelines to be release on March 14th, Einstein's birthday.

Cryptopia

Luckily for Einsteinium (EMC2), we were forced to leave Cryptopia on Jan 4th on 'First Come First Serve' basis.

EMC2 51% attack on Cryptopia started on September 23rd and lasted for 10 days!
We offered reimbursement for initial wave, but it did not work out, as Cryptopia has requested full amount of 10 days of hacking which was close to 2 Millions of EMC2.
Here is our statement on that https://bitcointalk.org/index.php?topic=494708.msg48633011#msg48633011

FYI EMC2 implemented Komodo's Delayed Proof of Work and is now 51% attack resistant.

We all know what Cryptopia is, and that big number of coins they carry represents vulnerability, but they've been playing important part in crypto ecosystem, motherly maintaining all those coins. They also have great native UI which was fun to use, very comfortable. 

It is unfortunate what happened, but keep in mind that some big exchanges went through the same.
If they manage to come back, they will come stronger and better. It is part of growing process.

We wish them all the best.

BCEX EMC2 Trading Competition

EMC2 on BCEX.jpg


Time   
Jan 18th 23:00 - Jan 27th 23:00 (PST)   
Details  
During the competition period, the top 300 traders (buy and sell EMC2 on BCEX platform) to will have the following rewards:   

1st: 6,666 EMC2  
2nd: 4,666 EMC2  
3rd: 2,666 EMC2 
4th – 10th: 866 EMC2/person  
11th – 50th: 566 EMC2/person 
51st – 100th: 366 EMC2/person 
101st – 200th: 126 EMC2/person 
201st – 300th: 56 EMC2/person
    
All rewards will be dispersed within 7 working days to the recipient’s BCEX account.

Instructions for exchanges on how to integrate EMC2

EMC2 is LTC fork, so integration process of EMC2 should be the same is integration of LTC.

GitHub: https://github.com/emc2foundation/einsteinium

Branch: Master

Latest Version: 0.13.5

Explorer to compare block height and hash: https://chainz.cryptoid.info/emc2/

more docs: https://github.com/emc2foundation/einsteinium/tree/master/doc

Einsteinium wallet backup!

PLEASE DO NOT REMOVE WALLET.DAT FILE AND MAKE A BACKUP OF IT.

Since we get numerous reports where users delete their whole einsteinium data directory and lost their coins please note that einsteinium data directory contains file that is called wallet.dat which stores your private keys and if that file is permanently deleted there is no way to restore your private keys and you will lose your coins. Always make backup of your wallet.dat file so even if you accidentally delete it or have problem with your computer’s HDD you will have a backup.


By default wallet.dat file is located on the following locations:

Windows Vista, 7, 10: C:\Users\[username]\AppData\Roaming\Einsteinium\

Linux: /home/[username]/.einsteinium/

MacOS: /Users/[username]/Library/Application Support/Einsteinium/

Or you can make a backup directly within Einsteinium Wallet application.

Following steps are explaining how to backup your wallet on Windows OS, but procedure is pretty similar on all other platforms.

Run Einsteinium Wallet and go to "File -> Backup Wallet…”

Run Einsteinium Wallet and go to "File -> Backup Wallet…”

Choose location where you want to save your backup, enter preferred file name and click save.

Choose location where you want to save your backup, enter preferred file name and click save.

Wallet will make backup file on chosen location and it will look something like this.

Wallet will make backup file on chosen location and it will look something like this.

Keep your backup file in a secure location. You can even transfer it to another computer, USB drive etc.

If you ever need to restore wallet just replace existing wallet.dat file with your backup file.

If you are not experienced with cryptocurrency wallets installation, backup or update please ask for assistance via our official communication channels (telegram / discord) or write mail to us via form on the contact page.

Einsteinium Developers

Wallet update, please do not make transactions

emc2-upgrade-image

Dear EMC2  holders,

On 10/17/18 Einsteinium network experienced a real 51% attack. Komodo dPoW, that we implemented in our code recently, kicked in and protected the chain. We are very pleased that this solution worked well and that Einsteinium chain is protected from any attacks in the future.

IMPORTANT: At this point please do not make any EMC2 transactions until the new EMC2 Lightsaber wallet is fully deployed to the field (Poloniex is still running old wallet version).

We are working and helping all major participators to upgrade to the new version. If you need any assistance please contact us at: developer@emc2.foundation

Since dPoW implementation into EMC2 is complete and well tested we will release new wallet (Lightsaber) builds and tutorial in next 24~48 hours on our official website www.emc2.foundation.

WeeeeCash deposits/withdrawals and registration has been temporarily frozen for necessary upgrade to the new wallet version.

Meanwhile we urge all miners and exchanges that are still running old wallet version (0.13.48) to upgrade to the latest (0.13.5). Code is available in “master” branch on our github: https://github.com/emc2foundation/einsteinium

If you are miner please make sure that you are mining on pools that are running latest wallet version (0.13.5) or your rewarded coins will not be spendable on exchanges.

-EMC2 Dev Team