UPDATED – 1/18/2020
Hello friends and fellow aficionados, CRYPTOkid here on behalf of the team, and today I want to touch on an amazing opportunity for us to come together and further secure the NewYorkCoin network.
NewYorkCoin has been approved for voting on SouthXchange, and while many of you have never heard of this exchange and are probably screaming “When Binance?!?!” we promise there is a method to our madness, and thus, I would like to take a moment to explain why we are going to be focusing on securing a listing on this particular exchange, and why the help of the community is crucial in doing so.
After the 51% attack last October, the team decided that a few changes needed to be made in order to minimize attack vectors across the board. In no time, the team was rolling out new security measures, ensuring open lines of communication with the quality exchanges we are listed on, and kicking off the process of securing more hash rate for the NewYorkCoin network.
Open lines of communication with quality exchanges are one of the most important things to us on that list. This ensures that a repeat of Yobit or TradeSatoshi cannot happen, as we’ve seen first hand what this type of negligence and lack of communication on behalf of an exchange can do to the network. This is one of the reasons why we can’t stress enough that what NewYorkCoin needs isn’t a bunch of new listings on different exchanges, but rather a few strong listings with exchanges that show professionalism, offer outstanding customer support, and have open communication with the coins they have listed on their platform.
The first big accomplishment was the Graviex listing, this provided ProHashing with the tools necessary to start mining NewYorkCoin again, bringing increased hash rate, and in turn increasing security of the network. Graviex has been outstanding in every aspect of the NewYorkCoin/Graviex relationship. From providing great customer service, maintaining an open line of communication with the team, and providing the users of NYC with a reliable platform for trading, the team couldn’t ask for more from Graviex and looks forward to the continued relationship!
This takes us to the next goal of securing a listing on SouthXchange, as this will provide NewYorkCoin with many benefits. SouthXchange is supported by ProHashing, so having a listing with them ensures that if Graviex goes into maintenance for any reason, the network is still secured by the hash rate provided by ProHashing. Also, with $300K in daily volume, this is a market that can provide more liquidity for merchants who accept NYC than what is currently available, and could also provide the liquidity required by CoinToPay to enable instant NYC cash outs in BTC and USD for merchants accepting NYC with CoinToPay.
SouthXchange doesn’t offer the opportunity for the team to pay directly for the listing of NewYorkCoin, so in order to get NewYorkCoin listed, we need to go through their voting process using their native token. 1 vote = 1 SXCC. SXCC is their exchanges native token and can be bought on their BTC/SXCC market located here. You must first sign up for a free account on SouthXchange here. As of writing, NewYorkCoin is currently in 4th place with 66,631 votes. A single vote (1 SXCC) costs 0.000001062 BTC at the time of this writing, as the price of 1 vote fluctuates daily. Each Wednesday SouthXchange picks a coin with at least 250,000 votes to consider listing on their exchange, and votes are cumulative from week to week.
On behalf of the team, I want to thank everyone in the community for your continued support, I believe coming together to accomplish this is completely within our reach, and by doing so we can lay a better foundation for the future of NewYorkCoin.