Based on the blockchain, it is a PoW/PoS coin that uses the X11 hashtag algorithm. “BSIC is leading the conversation about what blockchain can do to foster financial inclusion, diversity, supply chain, identity & vulnerable populations, energy & environment,” said Danny Johnson, CEO & Co-Founder, Pinkcoin. “Innovative thinkers like the Pinkcoin team are vital for activating the Social Impact potential of blockchain, and its ability to disrupt the way we fund impact,” said Ben Siegel, Blockchain for Social Impact Policy Manager. The attack injected this chain of weak blocks in at least three different periods, and then stopped when the chain was ‘halted’. We are coordinating with exchanges and miners with the updated wallet.
It would be possible re-exploit this bug when and if the attack stopped, reducing confidence in the availability of the network.
Traders trying to get PinkCoin might probably first need to buy Bitcoin or Ethereum at a cryptocurrency market and exchange it for PinkCoin in. The honest block would then scale the difficulty back to its correct network hashrate levels.
The attacker kept overtaking the main chain. We are not a massive project like Bitcoin, just a few developers working in their spare time to build a self-sustaining charity for the betterment of humanity. Daniel Hoffer .
This led to a rush of new blocks at a lower difficulty, allowing the attacker to generate pinkcoin. All your pinkcoin are safe, and no coins were stolen in this attack. After the exploit had been triggered, the chain organised into a series of good branches from the attack fork, and these cannot be stitched back together. It is relatively safer, as it's backed by certified diamonds which are insured by Lloyd's of London and stored in a private vault at 21 Dundas Square in Toronto, Canada. The flash-stake period prioritizes lower sized wallets, increasing the likelihood that less wealthy wallets will stake. For forging PinkCoin by staking, you’ll need to download the Official Pinkcoin Wallet Client from its website, that that allows you to stake PinkCoin in order to earn some of the newly distributed minted tokens. PinkCoin is a new and unique cryptocurrency that works to attain some charitable goals first and only then focus on returns or profits.
An Interview with Danny Johnson of Pinkcoin … Proof of Stake blocks, unlike Proof of Work blocks, are not mined. The HF fixes the time-warp difficulty adjustment bug, and undoes all the dishonestly mined blocks. You can learn more about Pinkcoin in this interview, as well as Danny's crypto journey into the space! New consensus rules past block 315065 are: https://github.com/Pink2Dev/Pink2/commit/e8c2d3a739c401ce7bed9caed2177298be2bc69f, https://github.com/Pink2Dev/Pink2/commit/b0197c780e2e2551c2176366f54c6290a7133a65, https://github.com/Pink2Dev/Pink2/commit/cb923a94b708a28c1d495e1d750d4d36e733c143, https://github.com/Pink2Dev/Pink2/commit/de138d21be6edc14f2e658c7385db76898f2a1a2, https://github.com/Pink2Dev/Pink2/commit/4b7691cd0a8e137e3429b674039d4868ea6b9477, https://github.com/Pink2Dev/Pink2/commit/435124057faf722d0947f7ee8608ca083eb401e3. This bug created a condition where blocks with a timestamp set earlier than the previous block would have their difficulty calculated as if they were found 2 minutes after the previous block.The intention of this is to ensure a consistent emission under large network clock skew. This video is unavailable.
FPoS offers a modified stake reward for 4 hours a day.
Please update to Pinkcoin 188.8.131.52, this is a mandatory HF to mitigate an active attack against the Pinkcoin Network. In these 4 1-hour periods, blocks are staked every minute. After the chain had recovered, the attacker would start building off their hours old chain, and apply the exploit again to invalidate honest blocks. Flash rewards are also worth PoW block reward + PoS block reward, encouraging more peers to be online in these periods. Founder, Couchsurfing Former Partner, Tandem Capital. It can be considered to be the most environmentally friendly and cost-effective consensus method. After block ~316000, users reported that block explorers were out of sync, and transactions were confirming/being unconfirmed.
It is also recognized as one of the few asset-backed cryptocurrency, backed by numerous certified, fancy colored diamonds (mostly pink) with a total NAV of $5,000,000 USD. A champion for charities and those in need of assistance, often donating his time and energy to charitable efforts which is rooted in the vision of Pinkcoin.
Please update to Pinkcoin 184.108.40.206, this is a mandatory HF to mitigate an active attack against the Pinkcoin Network. We can award everything from kudos to neat swag to cold hard cryptocurrency for bugs (depending on severity). Usage after the limit can result in the coins returning back to your wallet.
https://chainz.cryptoid.info/pink/#@diff after attack, showing exploiting chain with low difficulty, overriding honest blocks. It is currently pursuing opportunities in consulting, research & publications, hackathons, meetups, conferences, speaking opportunities. Watch Queue Queue.