Tajcoin chain swap announcement

Dear and respected Tajcoin community.

As you have noticed TAJ blockchain has had multiple chain stalls in the recent year.

Let me try to clarify why this is happening. TAJ is a proof of work / proof of stake cryptocurrency using blake2s hashing algoritm.

There currently has no active mining pool that is dedicated to mining TAJ alone.

There are however quite a few multicoin mininig pools that support mining blake2s based cryptocurrencies and with that Tajcoin has an active tcp port on some of those pools.

Multipools are essentially regular mining pools that are in the background connected via API with a specific set of cryptocurrency exchanges.

When you point your hashing power (cpu, gpu, gpu farm, asic device) towards a specific algo and port that doesnt necessary mean you are mining a coin that hosts on that specific communication port.

If you set your payments as c=TAJ that still doesnt make the pool mine that specific chain.

Instead the pool looks at the market prices and mines the most profitable coin at that given time. If the pool needs to pay you in TAJ it buys TAJ and sends it to your address.

At any point when the profitability of the coin the pool is mining drops, the pool swithes the hashing/mining power to another coin. With young cryptocurrencies this becomes a problem since the

Blockchain gets stuck on a very high difficulty and therefore stops since the rest of the miners dont have sufficient mining power to mine the next block.

This is not something specific to Tajcoin, this is a problem for any young proof of work cryptocurrency.

Since abandoning the TAJ coin project is out of the question there are preperations in progress to resolve the current situation.

As a result we are planning to swap the current TAJ to one of the following options.

  • Ethereum erc20 with yearly 3.69% interest rate
  • Ravencoin asset with a 3.69% yearly interest rate
  • a new pure proof of stake blockchain with similar inflation parameters that the current blockchain has with total TAJ in circulation mined at genesis block

Regardless od the above decision, we are informing you that we have come to an agreement with Tokens.net to perform the swap.

The swap starting date is september 1st 2019 and is active untill the last day of october 2019. Two months timeframe should be sufficient for every TAJ owner.

Based on public blockchain data there are at least 54 TAJ wallet addresses that have not changed in more than 2 years.

Regadless of the current Tajcoin blockchain not producing any new blocks broadcasting a transaction to the network is still very much possible.

As soon as the transaction is broadcasted it gets a unique tx hash and goes into the mempool and sits there untill it gets included in a transaction block.

Before you send your first TAJ transaction to Tokens.net kindly check the swap form so you are ready to populate it.

Why do i need to fill the form?

The form is not mandatory. Its only purpouse is to provide a point of contact for our community so we can process the swap more efficiently.

Taj is currently listed on Yobit.net , NovaExchange and Tokens.net.  On Tokens.net only deposits are currently possible.

If you have any issues with withdrawals from either NovaExchange.com or Yobit.net please open a support ticket with the respected exchanges and inform them of the chain swap.

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