Developer Update on recent NewYorkCoin Network Issues & Solution

Published by Nick on

Developer Update on

Network Issues & Solution

This is an informational post concerning recent NewYorkCoin Network Issues and Solution.

It seems like we are suffering from network segmentation with mining pools on both segments.

More info on Split brain (network segregation) can be learned by clicking here.

The issues, as far as we’ve seen, fix themselves in time, as nodes reconnect to other nodes all time. This means that they also sync up, doing a reorganization task.
It seems the more 1.3 nodes that came into being and the fewer 1.2 nodes available the pre 1.2 nodes monopolize the connections to the remaining 1.2 nodes.

We are also having a bit of a stall in the network as we get pools switched over to the new codebase. As of time of identification:( Thursday 8/16/2018 9:17am central US) we have gone over an hour without finding a block. We have more than one pool down for maintenance as the adoption of the 1.3 wallet takes place. This has caused the network hashrate to drop so that anyone left mining will have to work harder to find a block. Please be patient. We have identified movement again as of (Thursday 8/16/2018 9:57am central US).

The Solution:

We need for certain groups *Miners see information here* to migrate to the new QT Core Wallet  v1.3.1( ASAP!

New York Coin QT Wallet version 1.3.1( Mandatory Update Information

General NewYorkCoin Investors: We’ve been sharing information about the wallet update such as seen above and assistance on Discord and Telegram. We’ve also linked the wallet help page to the update information post.

Exchanges: Tradesatoshi and Crex24 have updated but we are also looking to get other exchanges including Yobit to update their wallets. It is important for Yobit to update especially as it is currently the most frequently used exchange to buy or sell NewYorkCoin.

Coinomi: After negotiating the maintenance fee down to 2 BTC, we will need to raise funds to pay them. Information can be found here which includes information about the raffle contest that is going on as well.

Frequently Asked Questions:

Q: What if I have my coins in a paper wallet, do I need to upgrade anything or will my coins transfer to the updated wallet structure when Im ready?

A: Paper wallets are fine, all been tested and working well.

Q: What happens if I use my 1.3 wallet or Coinomi to make a transaction while the chain is split?

A: There is a chance at this point in time that the block your transaction was on will become orphaned. If this happens miners may automatically add the transaction to the official chain once they combine again. It would, however, be easiest to simply sweep the funds back into your 1.3/Coinomi wallet and resend (assuming you have the private key to your address). Even so, it would be better to avoid any transactions until the chains merge or the newer 1.3 chain establishes a significant advantage in Proof-of-Work. Once the official fork happens, your funds will be safe on both chains.

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