Notice about the upcoming change of ETX algorithm and the opening of the testnet

For three months, ETX has been doing its best to promote the global community. But for a long time, most of the computing power of ETX has still been controlled by a few miners, which has seriously affected our plan.
In our preliminary plan, we will gradually open DPoS nodes when the following two conditions are met:
a.The market value tends to be stable, the circulation is relatively large, and the price squeeze speculation will not be caused by the opening of DPoS nodes
b.Coins are scattered, the balance of supply and demand will not be affected due to the concentration of coins by a few miners
However, according to the data of the ETX blockchain explorer, the circulation of ETX is not large, and the coins are already very concentrated. This is not we want to see and it will seriously affect the development plan on the ETX roadmap.
During this period, we tried to support MyCoin's mining machine promotion to disperse the entire network's computing power to try to distribute ETX evenly, but the marketing progress was slow. After communicating with MyCoin and carefully evaluating the relevant data, we thought that this move could not reach the expected plan.
After discussion by our foundation, we are preparing to change ETHASH to ETHASH4 algorithm, ordinary graphics card miners may not be able to participate in large-scale mining in the future, and scattered small-scale mining will become the mainstream of the ETX ecosystem. This plan will be implemented within one to two months.
Before the implementation of the plan, we will first conduct a testnet test, which is expected to be open for browsing within two weeks. The test address is, which will be open for normal browsing at the end of this month.
At the same time, we will simultaneously test the proof mechanism of PoW+DPoS+PoC.
a.During the initial test period, PoC will not be able to receive ETX rewards, but it has the function of personal data encryption storage (data could  not be shared). It is expected to officially test POC mining rewards and cross-chain protocol pools from Q3-Q4 in 2021.
b.After changing the algorithm of ETX, the new node V2.0 will be updated. If some mining pools do not upgrade the node, it may cause ETX to split into two chains. The subsequent foundation will only be responsible for the development and maintenance of V2.0 version ETX, giving up Develop V1.7 version ETX. Please do not worry, you will not lose any ETX, we will notify all exchanges to upgrade V2.0 ETX.
c.After the algorithm is changed, the ETX blockchain can still be compatible with ETH. Please do not worry about the subsequent application access issues.
We are pleased to announce the short-term plan to everyone. After the algorithm is officially launched, we will open DPoS nodes (9+90 )
continuously, it is expected that all DPoS nodes will be opened within Q4 next year to complete the true Decentralized Autonomous Organization(DAO) of ETX.
ETX still has a long way to go, thanks to the support from all the global communities. ETX has never ICO and no pre-mined, everything is based on the basic principles of free development of the community, the foundation only maintains the network in the initial stage and make choices when it has to be intervened.
All for the better development of ETX ecosystem!

ETX Foundation