New Wallet released and major update!

We’re very happy to announce the release of the brand new Linx Wallet (v1.0.0.3).

Along with a totally new look and feel, there has been some significant changes in the source code. As a result, all wallets will need to be updated to at least v1.0.0.3 by January 2nd 2018 at 00:00:00 (GMT). Any older wallets won’t be able to connect to the network after that date.

 

The upgrade process:

We’ve tried to make this as painless as possible. It’s as simple as backing up your wallet.dat file and installing the new software. No addresses have changed, no need to send your coins to an exchange first and then back into the new wallet. Just install it and go!

Download Linx Wallet!

 

So what’s new?

 

Block Size Increase

A large share of our target market (clubs, venues, events) will require fast and plentiful transactions in bursts. To address scalability concerns, we have increased the block size to 2mb. Given that we already have 60 second block times, this should be more than enough in the short term for Linx to be a viable transactional currency.

 

Block Halving

We have brought forward the initial block halving (previously set to occur at Block# 1000000) to slow down the release of freshly minted LINX, while at the same time extending the mining life of the coin, so it continues to be profitable for miners until at least the year 2030. This adds around 6 years to the original mining schedule. The new block reward schedule is listed in detail below.

From Block#Block RewardEst.  DateTotal Supply
 2 50 30/05/17 1,000,000
 500001 25 08/06/18 26,462,450
 2000001 10 15/04/21 65,837,450
 3500001 5 20/02/24 81,587,450
 7007153 2 (Final Block Reward) 20/10/30 100,000,000

 

Development Fee

We have introduced a 5% development fee which will help to fund our future plans and ongoing development. This does not reduce the block reward for miners as it is added on top of each block reward.

 

Wow, you put a Website button in the wallet!

Yes, not that exciting at the moment… We are currently developing the flagship Linx platform that will unite Linx users across the planet in a way that hasn’t been explored in the cryptocurrency model to date. Think of the ‘Linx Website’ button as a placeholder for future goodness to come 🙂

 

Other news

If you haven’t been checking out our Slack channel this will bring you up to speed with some other ongoing developments.

 

We have built and successfully tested our new retail payment model “LinxPay”. There will be a further post dedicated entirely to this soon, along with the release of the LinxPay website. You should also expect to see the release of our second, more advanced, block explorer in the coming days. The current explorer will remain where it is, as we like it, but the new one will offer you the ability search addresses, enabling you to check balances on paper wallets and more.

 

Lastly, one more reminder that this is a mandatory update. You must upgrade your Linx wallet before Jan 2nd 2018 00:00:00 (GMT). If you have any questions about this please don’t hesitate to get in touch with us.

 

We hope you enjoy using the new wallet and welcome any feedback below.

  • Joshua Stirk

    Very happy with the latest development, keep up the great work guys! I know I am happy investing in your future. Cheers 😀