Author: dataflex

Long Payment ID Deprecation

Dear participants of the Dinastycoin ecosystem,

We would like to inform you that with the new Dinastycoin blockchain we will be phasing out long payment IDs. Long payment IDs are detrimental to privacy and a source of negative user experience (as well as additional support work for services). Services will have to upgrade to either integrated addresses or subaddresses. Note, however, that there is some discussion about phasing out integrated addresses as well. Therefore, services are, to avoid having to potentially perform additional work, encouraged to upgrade to subaddresses directly.

Long payment IDs will be phased out because they have several salient drawbacks. First, long payment IDs are detrimental to privacy insofar as they can potentially link the transactions of a user in case of reusage. Second, long payment IDs have to be attached separately to a transaction. This is inconsistent with conventional cryptocurrency transactions and therefore unintuitive for the user. As a result, users occasionally forget to attach the long payment ID when sending their transaction to a service and thus have to go through support to ‘recover’ their funds. Third, it logically follows from the previous point that long payment IDs cause additional support work for services. Fourth, only one long payment ID can be attached to a transaction. Thus, services cannot batch withdrawals of multiple users specifying a long payment ID. By contrast, subaddresses have no such restriction and withdrawals can thus all be batched.

In sum, payment IDs have serveral salient drawbacks and will therefore be phased out. Services are recommended to upgrade to subaddresses as soon as possible. Subaddresses essentially function similar to Bitcoin HD wallets and should thus be relatively straightforward to implement. Furthermore, subaddresses are managable from a resource point point of view.

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Swap new Dinastycoin

Dear partecipant to Dinastycoin ecosystem

We are working hard by all summer to prepare a new life for the Dinastycoin second edition. AS you know there will be a swapping scheduled 5 november.

click follow link for the swap roadmap

if your dinastycoin are on your old desktop wallet gui or simplewallet you can create new account and deposit all your dinastycoin at the official swap.dinastycoin.com please do not trust any other site since this is the only one that allow you to swap OLD dinastycoin to new one.

If your dinastycoin are on on line wallet of Dinastyof freedom backoffice you do not have to worried of nothing, all Dinastycolin will be automatically converted to the new release and you will can do what you want.

The new Wallet On line on Din asty of freedom backoffice is fully featiured, so you can send, receive and see all transactions.

Users of Cryptonote.exchange will get in the same way the the automatic swap of old dianstycoin to the new one.

Btc-Alpha should do the same

Cryptopia is not simple to knowe what they will do and when, since the Exchange is closed. I suppose that they will allow to get all dinastycoins but with old format. For this reason swap site will be open for at least 1 year or more until we do not see what Cryptopia will do. So Cryptopia members do not have to worry. Important is that Cryptopia allow to get access to Dinastycoin wallets as soon as possible

Dinastyoffreedom.shop where you can spend dinastycoin will be update too to support new blockchain of course and will be ready when swap site will open.

The scheduled Swap introduces thjen a very big changes to our blockchain. It will have same functionality that lastes Monero blockchain. First and foremost, a new long-term Proof-of-Work algorithm, namely RandomX, will be introduced. Miners therefore ought to upgrade their mining software as well. Second, long payment IDs will be phased out in order to improve privacy and user experience as well as reduce support work for services and exchanges. Third, transactions will now require at least two outputs. Fourth, the ten block (approximately twenty minutes) lock time for incoming transactions will be enforced on the protocol level. Both these changes will improve privacy for the user as well as for the whole network.