After migrating tokens from Omni to its own privacy-oriented blockchain, the team has also issued another coin: Safex Cash, now listed on CoinDeal exchange. The two-coin business model will power the company’s e-shopping platform.
When it goes live, Safex marketplace will provide a haven of privacy for shoppers all around the globe. It solves several issues that affect centralized platforms like Amazon, which is notorious for extracting and misusing vast stores of customer data.
Safex offers the opposite: privacy. It achieves this through ring signatures, by hiding transaction info on its blockchain.
On November 26, it hard forked to CryptoNight V8 from the previous V7 version. This change in hash function came soon after Monero (XMR) upgraded to the same, safer version.
Safex developers told Coined Times that “around 90 percent of miners have already upgraded their hash function and are now running on V8.”
The hard fork also presented an opportunity to fix bugs and optimize scalability. The company’s developers have used the hard fork to optimize the increase of the block size and subsequent rewards.
The advantages of CryptoNight V8 compared to V7 are numerous. For a start, it is more ASIC-resistant and more expensive to attack. The frequent change of the hash function – every six months – makes it unprofitable for producers of mining equipment to build the machines needed to attack such a coin.