[Critical Updates] On the Announcement of SHOW’s Launch of ShowCoin Smart Contract 2.0
2018 / 06 / 28
On the Announcement of SHOW’s Launch of ShowCoin Smart Contract 2.0
On June 1, 2018, SHOW opened the IOS- file deletion public beta version. This marked SHOW's first publicity ofpublic beta product, which is of great significance to the combination of blockchain technology and the live broadcast industry.
After publicity ofpublic beta product, the SHOW team collected and deeply analyzed the experience habits and data of the beta users, and decided to open the SHOW Android-file deletion public beta version to the public in the near future.
On this occasion, the SHOW team decided to better meet the high-frequency and real-time transfer requirements for live broadcasting, and fully apply the concept of “live mining” to enable SHOW community members to enjoy better rights and interests.
The SHOW team will upgrade the show currency code from18:00:00,June 28, 2018, to 16:00:00, June 29, 2018 (GMT+8). The contract code name will be upgraded to ShowCoin2.0. The symbol will be constant.
The ShowCoin smart contract upgrade will also generate SHOW Team Incentive tokens (1,000,000,000 SHOW), which will be sealed at the following lock positions by contract:
We welcome supervision and witness from SHOW users and believers.
In this upgrade of smart contracts, SHOW will automatically switch at exchanges and wallets without any other user operations.
During this period, SHOW's functions such as recharging and cash withdrawal on the exchange will be suspended. It is expected that the length of the upgrade will be about 22 hours, and the opening charge will be subject to each exchange.
The SHOW in the digital currency wallet will take a snapshot. The new token will take a snapshot of the existing block at 00:00:00(GTM+8), June, 29th, 2018. And it will fully reflect (1:1) the block to users with unchanged token amount. While the new token will be delivered to the wallet user who hold the original token and the original token will become invalid once the block snapshot is done.
- Transaction function will not be influenced during charge suspension period.
- The SHOW token in the digital currency wallet will not change its name, it will still be “SHOW”. After the block snapshot (00:00:00(GTM+8), June, 29th, 2018), the original token will be changed to “OLD SHOW”, and the original token will no longer be used as value voucher.
- To avoid block jam and asset loss resulted from unconfirmed transaction. Users must make sure no transactions are ongoing 4 hours prior to block snapshot and confirm all SHOW transactions.
- The beta Token for users of the file-deletion public beta version of SHOW can function normally in SHOW public beta version.
“ShowCoin” is the first interactive live streaming service that is decentralized.It is one currency redesigned on basis of a digital encryption technology based on the technologies integrating blockchain and smart contract. With the emergence of ShowCoin, a benefit distribution mechanism without any cuts is established.The customers can directly reward the content producers.Based on the benefit distribution mechanism of ShowCoin, it is anticipated that more content producers will be willing to be involved.Not just the producers, but also the consumers will get involved in the ecosystem from traditionally passive participation.Thus it completely achieves the decentralized benefits distribution mechanism.
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