Buzzcoin 4.0

Everything you need to know about BUZZcoin 4.0

Overview

BUZZcoin™ 4.0 is the next evolution of BUZZcoin.

BUZZcoin 4.0 Core Upgrade

BUZZcoin 4.0 is the next evolution of BUZZcoin. This core upgrade will bring the BUZZcoin 3.1.1, that is still based on a very outdated Bitcoin code, to a modern up-to-date blockchain. BUZZcoin 4.0 features the long awaited and highly anticipated Masternodes.

This addition required the highly complex process of reverse engineering the BUZZcoin 3.1.1 chain. A shift to our roadmap was required due to this and other limiting factors. The primary advantage of this approach is that all balances on the existing BUZZcoin 3.1.1 chain will be untouched and seamlessly migrated to the BUZZcoin 4.0 chain.

Although there are various ways to proceed with a swap of this magnitude - due to limitations and regulations in the international territories in which we operate, the core team has determined that a core upgrade is by far the safest and most effective way for all BUZZ holders.

BUZZcoin 4.0 will be fully integrated into the BUZZcoin ecosystem. The much anticipated next step after upgrading to BUZZcoin 3.1.1 to 4.0 will be an opt-in only swap for Masternodes and wallets to BUZZcoin 5.0.

A mandatory timed locking phase will be required when swapping to 5.0. The majority of the locked coins will be burned during the swap with the exception of the coins on the Core Masternodes that are required as a foundation for the BUZZcoin network.

A noticeable difference in BUZZcoin 4.0 compared to BUZZcoin 3.1.1 is the feature of a circulating supply. All locked coins will be deducted from the circulating supply. After the coin burn is completed the current supply of BUZZcoin 4.0 will be much lower and POS-staking on wallets and Masternodes will continue at a higher ROI.


Masternodes

Requires 25 million BUZZ.

BUZZcoin™ 4.0 Masternodes

The coin requirement for the BUZZcoin 4.0 Masternode is 25,000,000 (twenty-five million) BUZZ. These BUZZcoin 4.0 Masternodes will be able to swap at a double rate compared to normal wallets to the BUZZcoin 5.0 chain. This double rate means that a Masternode will receive twice the amount of 5.0 coins than normal wallets at the swap.

Coins that have been collected as a Developer Fee since the BUZZcoin 3.1 release will be locked up in Core Masternodes to provide a stable network. Depending on the number of active BUZZcoin 4.0 Masternodes after all opted-in coins have been swapped these Core Masternodes will remain active, if necessary, for continuous network stability.


Chain Swap

From BUZZcoin™ 3.1.1 to BUZZcoin™ 4.0

With the release of BUZZcoin 4.0 all balances from the BUZZcoin 3.1.1 chain will be immediately available 1:1 on the BUZZcoin 4.0 chain. Please note that this chain swap and core upgrade will be available to everyone.

Your private key and a backup of your current BUZZCoin 3.1.1 wallet.dat will be required during the wallet update.

The BUZZcoin 4.0 wallet will offer a better user experience and facilitate additional wallet operations. Many tasks that were required to be done manually in the 3.1.1 version are now done automatically. This new wallet is also built to interface with the back-end infrastructure constructed during Q2.

Along with the BUZZcoin 4.0 release it is planned to list BUZZcoin 4.0 on a much larger exchange (we're currently in negotiations) as well as proceeding with the listings that were not possible due the old code that BUZZcoin 3.1.1 was based on.

This highly anticipated BUZZcoin upgrade will provide a much safer and stable network while reinstating higher POS rewards after the first wave of swapped coins have been burned.


Release Date

BUZZcoin™ 4.0 is currently undergoing extensive unit testing to provide a stable release. The Core Team has decided not to publish any code on Github until the wallet release. An exact release date will be announced as soon as we are confident that BUZZCoin 4.0 meets our stringent release standards.

Swap To BUZZcoin™ 5.0

The BUZZcoin 5.0 chain will be powering our BC-HMD™, BC-QMM™ and the complete worldwide BC-HMN™.

For now the only option to swap to the BUZZcoin 5.0 chain will be through opting in and participating in the BUZZcoin 4.0 locking phase either using a Masternode with 25 million BUZZ on it at double the rate or using a standard wallet at standard rate. The exact swap details and the ratio have not been announced yet. The beginning of the opt-in locking phase to swap from BUZZcoin 4.0 to 5.0 will be announced alongside the BUZZcoin 4.0 release.

We're looking into providing further swapping opportunities from BUZZcoin 4.0 to BUZZcoin 5.0 at a later date. If we decide to offer such opportunities these will be provided at a much lower swap ratio.

Important

  • BUZZcoin 4.0 enables Masternodes
  • Masternodes swap at double rate means they will get twice the amount of coins on BUZZcoin 5.0 than normal wallets
  • For the update from 3.1.1 to 4.0 all coins must be in your 3.1.1 wallet
  • After BUZZcoin 4.0 is live the swap details to BUZZcoin 5.0 will be announced
  • BUZZcoin 4.0 and BUZZcoin 5.0 will co-exist and integrated into one ecosystem
  • BUZZcoin 5.0 will be a very low-supply coin. The details, release date and swap ratio will be announced later.
  • The swap from BUZZcoin 4.0 to BUZZcoin 5.0 is not mandatory. It's opt-in only.

Infographic

Photo Credits

© Shutterstock: Dave Massey, narupong sooknatee, Daniel Prudek, agsandrew, pixelparticle, whiteMocca, Phongphan, Anan Kaewkhammul, StudioSmart, kosolovskyy © Stockunlimited

Disclaimer

BUZZcoin strives to make the information and timelines contained on this page as timely and accurate as possible, BUZZcoin makes no claims, promises, or guarantees about the accuracy, completeness, timeliness or adequacy of the contents, and expressly disclaims liability for errors and omissions.

All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher.

For permission requests please write to: [email protected]

For more information please download our latest whitepaper

Whitepaper Version 2.5

Get in Contact


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