Update, Questions, and Concerns

  • Last Post 04 July 2018
Soferox posted this 22 June 2018

Hello Everyone,

As of late we have been getting a lot of the same or similar questions and concerns about the project. I am going to cover a lot of things here, and will then allow others to comment with questions that we will answer. 

First, yes the project is alive and we are working very hard. With new technology we are in uncharted waters and have ran into many compilation issues among other development roadblocks, but rest assured we are solving them and moving forward. 

The next question I've seen is "Why scrypt". We opted for scrypt as our goal was never to create the next generation of mining, or even to reinvent mining. We wanted something established and very stable for our transaction chain. So scrypt is what is used here. Now for the rule chain this is 100% CPU only. To do this will require some sense of closed source, otherwise ASIC companies can create an ASIC for it. We are willing to explore a different algo, if as a community, you can accept the time it may add. We are aware there are some CPU only, but very RAM heavy algos, and this too can limit some people, but we are not opposed to things if as a community you are truly wanting it. If this is so, please comment below on what you'd like to do.  

We have also been asked about the current wallet and its similarities to other projects. We have addressed this as we have borrowed many components from other projects and current wallets do not meet compatibility with our rule chain, so we are required to use older tech, and then upgrade manually the code and work through the debug and compile errors. As you can imagine this is VERY time consuming and has been most of what we are spending our time on. 

We have been asked "why release just the tran chain wallet?" We released this because there are bits of the dual chain code in there that we needed to test on a large scale. Hence the alpha. Also we saw no reason to move away from the QT wallet code as people are familiar with it and it works great. Once Soferox is live that wallet will evolve and the dual chain wallet will be what is used by all. This wallet won't require you to migrate, claim, or do anything as it will integrate with the tran chain stuff 100% once we finalize that chain. 

Another question is "Why are things taking so long?" This is a very vague question but in simple we are a small team, we raised very small funds, and are working very hard on this. Soferox as a company is a small team, but we work every day on this. We have understood the sense of urgency from people as they want to see Soferox succeed. This is why we are making a promise that if new transaction chain is not complete by first week of July. We will hire another dev to push things further and get this done. We raised a small amount in comparison to most, so we have to be very specific. We have budgeted enough to get listed and maintain support for the coin. 

Exchanges are a next topic. Once we feel we have the tran chain perfect and how we want, we can begin to then work on exchanges and the listing process. We appreciate the patience on this and we have 1 partnership already in the works, they are just waiting on the source.

Most importantly we have been working so hard, our communication with community has lacked this past month, and we acknowledge that. We owe it you our community to be better and we will be better. 

Please ask questions below and we will respond to EVERY single one of them!


The Soferox Team


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bradtcad posted this 22 June 2018

Whatever the best mining algo is I think it should be asic resistant even if it is gpu, But you  probably know better than me.

I just think of all them asic mining farms pointing to sfx and then selling.

Soferox posted this 22 June 2018

We aren't against doing this, however, it is just the time that would be an issue here. If people are ok with this, then we can accept looking into this. Though nothing is truly ASIC resistant as we've seen with Equihash, but we are willing to explore if this is what people want.

Thank you for your input.

bradtcad posted this 22 June 2018

Will the mac wallet still be coming out in a few weeks time.Thanks

Soferox posted this 22 June 2018

That is still our goal yes. If we can complete the new wallet and get things moved over. Then it won't be an issue as at all  

melbourne89 posted this 03 July 2018

Hi soferox the market is taking off we want to see sfx listed on exchange !!!! You guys told us looking for an smaller exchanges?? We have been waiting for months....

sassss posted this 04 July 2018

There's something i am not sure i understand: Is soferox going to develop an exchange on the sofereox ecosystem/blockchain ,if so what type of pair will it offer and when can we expect it ?

Thanks you for this update.

sassss posted this 04 July 2018

i think the soferox exchange could be way more important than the listing on externals exchanges...