The BitcoinZero team is pleased to announce the following update regarding the BitcoinZero Hexx/Bitcoin fork coming up in Q3 2018.
After much deliberation and analysis of the performance of previous forks, the team has concluded that a 1:1 ratio would not sufficiently reflect the value contributed or the significance of the Hexx community to the BitcoinZero project. In order to provide a fair starting point that isn’t completely detached from the Bitcoin legacy, we are changing the ratios for the fork. All Hexx holders will receive 10 BZX per HXX they hold at the snapshot. Bitcoin holders will continue to receive 1 BZX per BTC held at the snapshot. With the estimated circulating supplies, that means that roughly 50% of BZX will be given to BTC and 50% to the HXX community. This makes the approximate circulating supply of BZX just under 34M coins on the MainNet launch assuming all coins are claimed. Any addresses with unclaimed coins after 01/01/2019 will be burned and taken out of circulation forever. This reduces the circulating supply and more accurately portrays the coins available to the overall market.
We feel this new ratio will discourage an initial dump by BTC holders that view forked coins as “Free money”. Using a variable ratio, future forks could fork with coins of varying supplies in an equally fair manner.
Many of you might be thinking, “What about the Xnodes? Will people be getting ten BZnodes for every single Xnode held?” The team has made the decision that owning a node will require 10,000 BZX (1,000 Hexx). With our research and development, we have deemed this amount to be the most accepted by our community members. This is an exciting time to be a member of the Hexx Community family! We hope the community will follow us into the bright future of this project.