You Can Now Buy SnowGem Using Bitcoin-ATMs Globally: Mandatory Updates
SnowGem (XSG) has one of the most active community in the market right now. The team behind the coin has made countless updates and upgrades to its technology within a short period of time. In a time where the altcoin market is gloomy and everyone dumping the low-level altcoins, the SnowGem team has held their head high and has done everything possible to protect the interest of investors.
When it comes to responding to attacks, the SnowGem team is quite incredible.
Apart from updating the network to protect it against 51% attack, the team is always on their toes when it comes to protecting.
Mandatory Update
Reportedly, the SnowGem network was under a number of large attacks with huge hashrates; probably from NiceHash. These attacks were targeted at the network’s difficulty algorithm with only one goal – steal coins on low difficulty and then get out of the network. The attackers repeatedly mined a lot of blocks almost at the same time using an anonymous pool.
In response to this attack, the SnowGem decided to do update the network. The inspiration for the new update was from a comprehensive and popular algorithm called the LWMA 3 (author: https://github.com/zawy12).
So far, all the stress test carried out on the network has been successful. The team made it clear that even if the network is flooded with x3 more hashrate, the blocks will be mined flawlessly.
Taking advantage of the new mandatory update, the team was able to solve the Zcash vulnerability (https://nvd.nist.gov/vuln/detail/CVE-2019-11636) plaguing the network. The network was able to do this by increasing the block size to 4MB.
Before this Zcash vulnerability was addressed, anyone could attack the network easily with the “Sapling Woodchipper attack”.
According to the SnowGem team, this update is a soft fork. This means there is no need to swap coins or take any other comprehensive measure. Masternodes owners are just required to update their masternodes. For those using Asgard, everything will be done remotely.
An update has also been made to how block rewards will be shared. Founder’s reward of 7.5% will remain the same. The reward system will still be 20 coins per block. However, the sharing formula will change form 1.5/9.5/9 to 1.5 for founder reward, 9.25 for the miner and 9.25 for the master node.
SnowGem (XSG) is Now Supported by Bitcoin ATMs
Importantly, SnowGem (XSG) can now be withdrawn or bought using a bitcoin ATM. The SnowGem team has revealed that: using the mobile wallet, anyone interested in buying or selling some SnowGem coin can now do so using a Bitcoin ATM.
This new development is in collaboration with GENERAL BYTES an ATM manufacturer with offices in Prague, Czech Republic and Bradenton, Florida, USA.
To use the ATM, you need to have your mobile wallet with you. This is because you will be asked to scan a QR code on your mobile. Once scanned the machine will process the deposit or withdrawal order.
GENERAL BYTES’ ATMs has seen numerous improvements such as added fingerprint reader, ethernet connection, point of sale features, altcoin vending, a metal stand, many other software features. This does not only make them safe and perfect for use almost anywhere, but they are also convenient and cheaper than going through OTC channels.
Bitcoin ATM Business
The business model behind Bitcoin ATMs is to buy crypto-currency on exchanges and sell it with margin to end-users visiting the Bitcoin ATM. Bitcoin ATMs provide a way for customers to buy crypto-currency in a simple and secure way. Bitcoin ATMs are considered the beacons/lighthouses of the cryptocurrency industry. They help people to get started with Bitcoin and other crypto-currencies and make the world of ‘virtual money’ a little less virtual and easier to understand.
So if you think this is a perfect business for the type of community you are, you can easily get one of these machines by visiting GENERAL BYTES’ official website.
With its latest addition to a bitcoin ATM, the SnowGem community should look forward to a greener chart. This makes now the perfect time to store up some SnowGem coin.
SnowgGm now also listed on trade.io – one of the biggest players in crypto space with fiat support! You can now buy or sell XSG with your EUR/USD.
