Gulden is releasing its long awaited Pow² blockchain on june 28th. Over one year of developing & testing have been done.
I marked for you guys the date of the release on the chart in form of a callout!
This will be a medium-term trade but hold atleast till 28th if you want to enter this as a short term trade.
As you can see, NLG is holding nicley at the (1000-1100)
- BUY everything you can in this support-zone 1000-1100
is showing upward movements on almost every timeframe the last days.
In my opinion we will see a good movement soon.
And as you can see on the 1D chart on bittrex below in the link, it's following nicley a formation & indicator shows that new is getting in.
Stoploss arround 950
So how is this all going to roll out in reality? How soon will people be able to start witnessing? Does this mean we will need to wait months to witness after the software is released?
The Gulden 2.0 roll out will be as follows:
Phase 1 – Gulden 2.0 will be released, it will function exactly like an upgraded 1.6 at this point with no PoW² functionality present yet. Upgraded miners will signal for an upgrade, when 75% of miners are signalling the software will activate phase 2.
(Expected to last at most a week or two – depending on miners)
Phase 2 – A new special backwards compatible transaction script type will become available to upgraded (2.0) users which will allow them to create witnessing addresses. Old (1.6) users will verify these scripts but won’t be able to create or use them.
Once a minimum threshold is reached (200 or more witnessing accounts with a combined weight of 20 million or more) we will enter Phase 3.
(Expected to last at most a week or two – depending on coin holders)
Phase 3 – PoW² witnessing commences, with a few limitations that allow old (1.6) users to remain on the network (no transactions allowed yet in the witness portion of the block for instance). Witnesses and miners will automatically start signalling a percentage of how many upgraded users they are seeing, when this percentage goes over an average of 95% for a fixed time period we will enter Phase 4.
(We anticipate that this may take several months)
Phase 4 – At this point our backwards incompatible changes trigger, new transaction format/rules activate, PoW² witnesses start to include transactions in their portion of the block, witness accounts start to switch over to a new improved backwards incompatible transaction format, new accounts using the old temporary format are no longer allowed, SegSig activates etc. The remaining 5% of 1.6.x users will no longer be able to participate in the network.
Phase 5 – After some time 2.1 will be released, code to support old witness accounts can/will be safely removed with affecting block validation – leaving us with a codebase free of technical debt. Checkpointing can also be safely removed at this point.