The New DAG-chain 

At the beginning of May, we announced our community the migration of our Dagcoin on to the new and enhanced DAG-chain that is tailor-made especially for one purpose – becoming a globally used common currency. This is one major step towards our main focus  – usability. With this new chain our present and future merchants will have the best solutions for accepting payments for their products and services.

Why?

Very often we get asked and there are even different rumors about the reason of this change. Let us explain the background.

So far we were an asset on Byteball’s platform. The development decisions of that platform and what can be implemented in the wallets is very much controlled by the founder of Byteball.

Our aim is to bring cryptocurrency to everybody by making using the money as simple as possible. The strong vision and ambition of Dagcoin is unique and to be able to fulfill this we wanted to make the technical side more suitable for our community. With all the platforms we are developing (DagPay, Merchant Finder, DagWallet, Webwallet, DagCommunity and many more to come) we need to be able to sync with the developments of the core technology very often. Being the main developer of the core technology gives the freedom to create and update additional products/features much faster and to create solutions others do not have yet!

And this is the reason why we have come out now with our own chain – this gives us the freedom to develop custom solutions benefitting our community – you – the most!

The fees for transactions will not become high with the rise in the coin price as it is happening with all other cryptocurrencies, there are no issues with funding client and confirmation times for transactions are much faster. The work that has started on DagWallet takes it to the ultimate top of digital wallets. These are just some of the benefits of being on our own chain to begin with.

 

Now… What is the process for exchanging my old coins to new coins?

We wanted to make this process as clear to our members as possible. Part of this is the understanding, that there is OLD wallet with old coins and there is NEW wallet with new coins, so we made this process partly manual for you – you must send the old coins to us, and then we send the new coins to you.

First thing that is extremely important for every cryptocurrency wallet – have you made the Backup? 

Now when the backup is made, you need to download the new wallet. You can find the new wallets here: https://dagcoin.org/wallet/

And again – make the backup for this wallet as well!

Now you have two wallets in your device – Dagcoin (which is the old wallet) and DagWallet (which is the new wallet)

Next step is to go to https://migration.dagcoin.org where you can send your old dagcoins to the company and leave your new wallet’s address to receive the new coins into the new wallet.

 

 

It is mandatory to leave your e-mail address just in case we would need to contact you regarding the migration, old wallet’s address and also new wallet’s address.

Once you have sent the old dagcoins, allow us to have up to 7 days to send the new coins on the new chain. Most probably this will happen within a few days, but since there is a lot of people who are going through this migration process then we want you to consider a little bit longer time period.

It is important not to erase the old wallet from your device before the new coins are safely in the new wallet.

Once the new dags are in your DagWallet, do not use the old wallet any longer as the whole community is moving to the new chain and it is wise to erase the old wallet once the migration is completed.

 

Let’s repeat this step-by-step:

  1. Back up your old Dagcoin wallet

  2. Download the new DagWallet

  3. Back up your new DagWallet

  4. Go to migration.dagcoin.org

  5. Fill in your old address and also new address

  6. Send the old coins to the Migration Assistant

  7. Wait for the new coins to arrive in 7 days

  8. Erase your old wallet

 

How do I access my WebWallet?

Your old Webwallet is accessible from https://wallet.dagcoin.org/old. New Webwallet is on the old domain, https://wallet.dagcoin.org. Process to change the coins is same as for regular wallets, through Migration Assistant.

 

As a merchant do I need to do something with my DagPay or Merchant Finder accounts?

In DagPay you just need to update your wallet address, everything else works perfectly. No changes are needed to be made in Merchant Finder. Important is to make sure you have the new DagWallet to be able to accept coin payments from customers.

 

What can I do with the old coins in the future?

Absolutely nothing. You should change the old coins for the new coins, which you can start using with the merchants, do payments and make transfers. Also, there are lots of financial opportunities on the way to be utilized with the new coins.

 

When can we start exchanging on the exchanges – Swipex, Paygety and the exchange of DagUniversity?

Paygety and the exchange of DagUniversity will start exchanging the new dags on Monday 14th of May. SwipeX will add new dags on Monday 21st of May.

 

I am stuck, I need help!

Don’t worry! Send us an email to [email protected] and we will help you out.