Beyond Bitcoin Hangout Minutes: Peerplays segment (Ep. #185 12/09/16)
Beyond Bitcoin Hangout Minutes: Episode #185 hosted by @officialfuzzy
@peerplays
Jonathan Baha'i announces snapshot date for Peerplays tokens, and answers some important questions about the future of Peerplays!
Why is a Peerplays snapshot needed?
From May - June 2016 $500,000 in Bitcoin was donated to Peerplays blockchain project.
Contributors received receipts in the form of digital tokens called Peerplays. (Which later became tradable on the Bitshares decentralized exchange.)
If you currently hold or trade Peerplays tokens on Bitshares you are holding these receipts.
In original pre ICO announcement the Peerplays team proposed to raise funds for achieving the following development goals.
Completion and delivery of..
The on chain tournament management platform
The on chain wagering system
The automatic profit sharing distribution system
The worlds FIRST game built directly on the blockchain
As of Friday Dec 2nd 2016 the Peerplays team has successfully completed all of these development goals with the release of rock paper scissors (A real time interactive on chain game prototype on the Peerplays public testnet.)
The next phase of the project will involve the official pre Peerplays ICO followed by launch of the blockchain.
What is a snapshot and how will it work?
A snapshot is a way of creating a record of who holds a particular asset or token as of a specific date in time.
The holders of the asset/token can be allocated a proportional stake in a new blockchain.
When the new blockchain launched the genesis block or “first record” contains new tokens that can only be unlocked using the private keys that correspond to each public key that was recorded in the snapshot.
In other words if you hold Peerplays tokens at the time of this snapshot you can then unlock the corresponding Peerplays blockchain PPY tokens when the official blockchain launches by importing your private keys or back up from the Bitshares account into the new Peerplays blockchain wallet.
When does the snapshot happen?
Currently Peerplays tokens can be traded on Bitshares decentralized exchange, but cannot be transferred between Bitshares accounts.
All trading of Peerplays tokens will be halted, and will no longer be permitted as of December 23, 2016 at 12:00am EST.
If you would like to buy/sell you must complete all trades on Bitshares using Freedom ledger or Open ledger before December 23, 2016 at 12:00am EST.
For the subsequent 3 days after that transferring of Peerplays tokens will be permitted. (Which means you can transfer your Peerplays tokens to any Bitshares account you wish.)
This will be useful for example, if you want to consolidate your Peerplays tokens balances into a single account or if you currently hold your Peerplays tokens in a group Bitshares account, and now the members wish to hold tokens in a separate account.
After this 3 day period is over on December 26, 2016 12:00am EST all Peerplays token transfer activity will NO LONGER BE PERMITTED, and a snapshot of Peerplays tokens will be taken.
When is the next crowd sale, and when does Peerplays blockchain go live?
- The date and format of the Peerplays ICO along with milestones for Phase 2 of the project will be released in a few weeks!
For now stay tuned to Beyond Bitcoin hangouts for updates and Q&A’s with Jonathan Baha'i & Michael Maloney.
Be sure to head over to the testnet and try the worlds first real time interactive on chain game!
Check out the Peerplays Homepage for more info on #Peerplays including how to join the testnet!
Upvote and support their efforts by supporting quality updates and news articles on the Peerplays account.
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This work was done in partnership between @officialfuzzy and @stealthtrader