Grantcoin Distribution Announcement and Tech Update

Dear Grantcoin Community,

As you may know, the spring quarterly distribution of Grantcoin Basic Income was scheduled to take place on April 30th. Unfortunately, we experienced some technical issues with the blockchain. Rest assured, our tech team is working diligently towards resolving the issue and we are hopeful to have the distribution released soon.

With over 1,700 new participants since our last distribution, we are experiencing an exciting growth spurt and working hard to accommodate new users and interest. We’re also excited to announce that Ekata Social has completed a fully automated Grantcoin distribution system, which will enable the Grantcoin project to scale up rapidly without the need for as much human labor.

We Need Your Help

To prevent the current technical difficulties from reoccurring in the future, and to ensure our technology is up to date and dependable, we are asking for your help. The Grantcoin Team continues to work hard, mostly from a core team of volunteers, to see the ongoing growth and success of this project. While much can be accomplished within our limited budget, we can ensure a much greater level of security, dependability and overall success if we can fund these technological updates.

1.) Dedicated Mining Rigs & Mining Pool
The Grantcoin Foundation would like to purchase dedicated mining rigs to ensure a constant baseline hash rate for the Grantcoin network. Grantcoin produced by our rigs would be redistributed into circulation via basic income or the bounty system. The Foundation would also like to build and operate a new mining pool to make it easier for people to mine Grantcoin. Investment in these developments will provide the blockchain with more security, improve the speed of transactions, and provide overall stability to the network.
~ $2,500

2.) Global Seed Nodes
Our tech team recently found that there were issues with our two seed nodes. They recommended that we build and deploy new seed nodes around the world to ensure constant uptime for Grantcoin wallet users and a higher level of security for the network.
~ $500

3.) Source Code Update
With proper funding, we can do a full update of our code, incorporating recent upgrades from the Peercoin and Bitcoin codebases, and resolve a number of bugs and known issues in the current Grantcoin source code.
~ $2,000

We estimate the total cost of these items to be $5,000. We invite you to make a tax-deductible donation to help us achieve these important goals. Donors of $100 or more will receive a Grantcoin starter kit with preloaded wallet and coins.

On behalf of the Grantcoin Foundation, thank you all for your past, present and future support!

The Grantcoin Team

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