Noir Chain Swap
Brief introduction for new comers
Noir is a cryptocurrency or a digital decentralised currency used via the Internet.
With Noir a user can transfer value, either transparently or privately, anywhere in the world without need to trust a central authority such as a bank.
The Noir (initially known as Zoin) network protocol was created by adopting the code from a previously launched cryptocurrency called ZCoin (today known as Firo).
It launched as Zoin on the 5th November 2016.
After being abandoned twice by two development teams, it was finally rebranded in Noir in October 2018 by the current team.
Noir is a community coin, meaning that members of the community who wish to see Noir succeed are partecipating in its growth and well being.
The slogan of Noir is: „COMMUNITY BUILT, PRIVACY DRIVEN“.
Reasons behind the chain swap
Every cryptocurrency has a corresponding blockchain within its decentralised network protocol. Noir is no different in this sense.
However since the 5th of November 2016, Noir blockchain has been hard forked several times to allow the implementation of protocol parameter changes. For example, the integration of the Masternodes or the change from PoW to PoS.
Therefore the fork can be seen as an upgrade of the coin performances and for this reason has been used by all the cryptocurrencies, in primis Bitcoin.
However after 5 years, several hard forks and three different teams, Noir team and community have decided to swap to a new blockchain.
The purpose of the swap is to make the public chain more robust and clean. To be more precise we will have the followings advantages:
- clean code (there is much “waste” code that is needed to verify older txs for example)
- much faster sync time, because of the new chain and also the newer btc core version
- clean chain (no 3 versions of zerocoin and 2 version of sigma tx are on there)
As consequence of the swap, also the total supply will be affected. All the coins that will not be swapped, within the defined time window, will be burnt.
The swap will take place within April 2021 and, together with the community, it has been agreed to keep the swap open for 3 months.
In this way community members will have enough time to be informed and perform the swap itself.
Up to now, 60% of the swap work has been performed by our Noir dev, Florian (@flo071).
In order to keep the community informed, a webpage has been created to show the development progress of the chain swap for Noir.
https://noirofficial.github.io/noir-swap-development-progress/
More articles will be released in the following weeks to update the community about the progress of the work, date of swap and more important to explain how the swap process will be carried out.
The Noir Team
