Having both our team and community grow rapidly, the past few months has positioned the MoneroV project and the upcoming hard-fork as a highly anticipated event. With both great support and enthusiasm, we are dedicated to realizing the vision of a truly decentralized, finite currency to serve the community for years to come.
Due to the growing demand and increasing expectations from users, trading platforms, and large mining pools, we have decided that the Snapshot date will be postponed to ~30th of April block 1564965 to facilitate third-party services requests and including these below reasons:
- Exchanges and custodian services need more time to implement the MoneroV technology for them to support the fork and credit XMR holders with XMV. We are in the process of helping leading exchanges (from the top five Monero trading platforms) to list MoneroV. These services require additional time for implementation and we are positive that postponing the hard-fork date so that more users will be credited with their XMV outweighs the drawbacks.
- Monero’s own software update that will occur in March is causing confusion with the initial hard-fork date. This is a common complaint we hear from both the Monero community and our own. Postponing the hard-fork snapshot date will help both Blockchains.
- Mining pools are asking for more time to implement MoneroV. We want to help these pools to prepare for the hard-fork split so that MoneroV will be more stable and robust.
- Many users have difficulty storing their XMR locally using the Monero GUI wallet due to its large blockchain size. Postponing the hard-fork date will help more users to prepare and be able to claim their XMV’s.
Overall, taking into consideration these reasons, and although MoneroV’s codebase is fully functional, we are positive that it would be best to postpone the snapshot date.
In addition, we would like to announce a few updates and clarifications:
– MoneroV has replay protection in place. This means that transactions on the Monero blockchain will not be able to be replayed on the MoneroV blockchain.
– MoneroV codebase is currently fully functional and tested (as can be seen in this image) on macOS Sierra, Windows, 64-bit and on Linux, 64-bit. We will use the additional time to add more supported machines.
– We will also use the additional time to test a few procedures (including testing the time gap between the snapshot date and mainnet release, and raising the minimum ring signature) that will help mitigate an issue that was raised that the hard-fork split might reduce the effective privacy set of ring signatures – one of three private properties of the Monero & MoneroV blockchains. This has nothing to do with user’s private keys and their safety.
– MoneroV’s source code, including the MoneroV GUI wallet, the MoneroV daemon and all other dependencies on our Github account (as seen in this image), Will be published on Github publicly for the community to audit before released in downloadable form. XMR holders will be able to extract their XMV’s anytime in the future using credentials of an empty Monero wallet that had XMR at the time of the snapshot.
– The only reason the MoneroV GUI wallet source code will not be publicly released sooner (except to third-party services) is to prevent phishing attempts using a cloned MoneroV GUI wallet. This is a common practice similar to previous notable hard-fork events.
– We will never ask you to register on any form/website that promises an ‘airdrop’ of MoneroV. The only XMV coins that will be generated are copy-imaged of the XMR coins the wallets at the time of the snapshot hold. You will never be asked or required to pay for anything at any time. You should never insert your private keys into any website, closed-source software, Google form or anything else except the official open-sourced MoneroV GUI wallet. Never send funds in any form to anyone.