The Einsteinium Foundation has decided to remove the ‘Wormhole’ feature from the coin which will reduce the total supply by 55075320 coins.
In the past, the Wormhole was a useful feature that created volatility on the market and kept the volume and interest of the community. However, along with the price increase, abuse has increased as well.
This move will increase security of the chain and represents a hard fork for EMC2.
Bittrex has already confirmed the update and we are waiting on a response from Poloniex.
Our code has been updated and is currently in the testing phase. It will be available in next two weeks for all users to upgrade.
Application development is going as planned. There will be a detailed update on that as well.