Scotcoin Project announce SCOTCOIN 2.0 – Complete Migration to Counterparty.io

SCOTCOIN 2EDITOR UPDATE – THE MIGRATION DATE WAS MOVED TO 1/12/2014.

16th November 2014 – FOR IMMEDIATE RELEASE

Today, the Scotcoin Project announced that they are to phase out the existing ‘standalone’ SHA256 Scotcoin network and fully migrate to the Counterparty.io solution, as a Digital Asset, utilizing the Bitcoin network infrastructure.

Derek Nisbet, Founder of Scotcoin said “Following on from the successful launch and subsequent roll out of Scotcoin directly to the Scottish people, and with the ongoing interest in developing further solutions for Scotcoin, we faced a real issue with respect to maintaining the integrity of the existing network, as Scotcoin was built on it’s own blockchain.

Thanks to the fantastic innovations this year by Counterparty.io, we can now seize the opportunity to add SCOTCOIN as a digital asset into the Counterparty solution, and back this up with the power and robustness of the Bitcoin network.

This will allow Scotcoin to grow in so many new ways, which are becoming possible via Counterparty & Bitcoin including Multi Sig, Smart Contracts and so much more, as well as offering everyone involved with the Scotcoin community, complete piece of mind that the underlying network will remain robust, plus they will now hold a true digital asset, 100% confirmed and contained, within the Bitcoin Blockchain”.

SCOTCOIN 2.0 has a fixed supply of 1,000,000,000 Scotcoins and will be offered via Counterparty’s Counterwallet technology, as well as being immediately listed on their decentralized exchange and directly traded against XCP (Counterparty’s own crypto).

For everyone that holds existing Scotcoins, these will be swapped to Scotcoin 2.0 on a one to one ratio upto 31st December 2014.  More information on the migration will be issued next week via their Facebook Page with support being offered in their Facebook Group.

Media Enquiries: [email protected]

Twitter – @scotcoinproject

Facebook – http://facebook.com/scotcoin

Website: http://scotcoin.org

Newsletter: http://eepurl.com/8yLP1

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