Statement on Dashcoin mining and withdrawals (04/07/17)

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This post is our statement regarding current Dashcoin situation on MinerGate as of July 4, 2017. If you have questions left after reading it, please address them to our support department.

Dashcoin developer has recently issued a security fix meaning to prevent unlimited creation of coins on DSH blockchain. Unfortunately, MinerGate team wasn’t notified early enough to be able to make the required update timely. When the upgrade took place, our miners were still mining and making transactions on the original chain. Rolling back to the updated chain would mean that transactions and mined coins would have been reversed, depriving our customers from the money they had earned.

MinerGate’s top priority is and has always been the protection of our clients’ interests and the ability to secure their assets, thus we had to suspend Dashcoin withdrawals to avoid escalation of the issue.

We have contacted Dashcoin representative to negotiate a mutually agreeable and profitable solution. Unfortunately, the developer didn’t agree to any of our suggestions and the options presented by him didn’t meet our first concern, not to bring any major inconvenience to our clients. MinerGate would still like to take the chance to thank the Dashcoin team for maintaining an open dialogue and willing to assist.

Our main ambition in this situation was to protect our clients and prevent infinite emission of Dashcoin tokens at the same time. Openness and decentralisation ideals of cryptocurrencies allowed our team to come up with a solution that met the goal. This solution is to develop a patch that would fix the critical bug in Dashcoin code and continue mining the current chain to avoid rolling back the transactions that happened on it after the fork. Anything that could have potentially occurred on our chain since the moment of fork will constitute a part of blockchain.

We are in no way trying to assert that our current chain is supported by Dashcoin original developer. Nevertheless, it is important to note that the total hashrate of MinerGate chain ensures better security of the network. We understand the responsibility of our decision, considering that MinerGate is the largest Dashcoin pool, yet we believe that both chains can peacefully coexist. We will undoubtedly open source the patched software and will welcome anybody willing to switch to our chain. MinerGate will not obstruct those who would decide to move to the alternative chain in any way.

As soon as the software with fixed vulnerability is released, we will reenable Dashcoin payouts. We are already more than halfway through and planning to make the update in the nearest future. MinerGate takes full responsibility to notify the exchanges that support Dashcoin about our decision to make sure the tokens our users hold are tradable.

We are extremely grateful to our clients for their patience and understanding.

MinerGate team

Comments

Hello, Ibrahim.

If you’ve mined sufficient for confirmation amount of Dash Coin, or already got confirmed amount – choose “Wallet” tab in MinerGate GUI app, find there Dash wallet and click “Withdraw” button in this wallet. After you’ve done it – type the desired for withdrawal amount of coins and address where you want to withdraw them. Optionally, you can fill “Payment ID” field. Then type your password in the respective field and click “Withdraw”