WeAreSatoshi Coinburn 2018

What You Need To Know

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. How Did It Happen?

. WSX Community — As previously announced, all WSX located wallets that have not had any activity since block 688,888 are being taken out of circulation and “burned” in the latest code implemented. The overwhelming majority of the wallets that have not shown activity since this block have been dormant for 3–4 years. These coins are located in dead wallets dating back to WeAreSatoshi’s inception.

. Since 2014 WSX has undergone new development multiple times, often leaving the project with long stretches lacking an active team and not showing any development at all. With WSX development picked up and abandoned time and time again, many coins have been disregarded and/or the wallet’s private keys had been lost. These coins serve no purpose as they are unable to be removed from the wallet, left to sit forever untouched.

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. Why Is An Accurate Supply So Crucial?

. Ensuring an accurate supply is necessary for a multitude of reasons, most notably the upcoming masternode implementation, which will be the next major development for WSX. Also, it should be noted that WeAreSatoshi’s newest development plans focus on institutional investing. This institutional aspect creates the highest level of standards WSX would be required to meet. The newest WeAreSatoshi team are now working towards updating this 4 year old coin to meet and surpass today’s standards in cryptocurrency. A coinburn to remove dead WSX to attain an accurate circulating supply is just the 1st step of that process.

Development Update

. As block 853,500 was approached the WSX code was updated to support the coin burn. When implementing this code, a later block number was selected for the updated code to be activated. Block 858,000 was decided for this activation block, approximately 7 days from block 853,500. This block was chosen to give WSX holders and Cryptopia sufficient time to update their wallets once released via Github (abailable shortly). **WSX coins on Cryptopia exchange are perfectly safe and will require no action from holders.** Cryptopia has confirmed full cooperation with these developments.

What Do I Need To Do?

. Upon the updated wallet’s release the WSX community will be immediately notified. are ready to be downloaded, and once we do we request you update your wallet as soon as possible (within a day or two of release preferably). This is a mandatory wallet update, and WSX will request the community to update at their earliest convenience. Failure to update the wallet soon will NOT jeopardize any coins. Wallets in active staking will benefit from updating earlier, as well as helping the entire project. The more WSX in active staking the better for all involved.

. We appreciate the support community have given us, and we thank you in advance for your help on the wallet update process.

WeAreSatoshi WSX

Bringing us one step closer to making the impossible possible- merging the institutional market and the everyday crypto enthusiast together on one platform! Gearing up for the future of cryptocurrency!

*Editors note- At the time of publishing this article all the wallets have been released and available for download

Windows: https://github.com/WeAreSatoshi/WeAreSatoshi2/releases/download/v2.0.7/WeAreSatoshi_Windows_v2.0.7.zip

Mac: https://github.com/WeAreSatoshi/WeAreSatoshi2/releases/download/v2.0.7/WeAreSatoshi_Mac_v2.0.7.dmg

Linux: https://github.com/WeAreSatoshi/WeAreSatoshi2/releases/download/v2.0.7/WeAreSatoshi_Linux_v2.0.7.tar.gz

Email support@WeAreSatoshi.net

WSX Official Site https://wearesatoshi.net/

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