Moria Token Is Getting An Upgrade!

Jessica Lowry

As we look ahead for the Moria Token (MOR), we evaluated the token holders interaction with the smart contract, the resources the Ethereum blockchain provides; as a result we have made a few upgrades to the Moria Token.

The improved Moria Token (MOR) contract utilizes more efficient code for calculating royalty payments and in doing so reduces the gas cost of calling the contract for users and now supports an indefinite amount of future payments.

The new Moria Token (MOR) smart contract distributes the royalty payments owed to the token holders in a decentralized/distributed manner.  This new, audited token completely eliminates the risk of human error during the royalty payout process by relying on transparent, open source and immutable smart contracts on top of the Ethereum blockchain.

The contract now offers a fully decentralized payment and distribution mechanism; once royalties are paid into the contract a user can claim their share at any point in the future regardless of the actions of the contract owner or other users.

The new contract code is fully compliant with the latest Solidity language specification and conventions and is now contains an on-chain upgrade path designed to support applicable future advances in the Ethereum ecosystem.

The Moria Token upgrade will commence on Thursday 8/16/2018. Once this process has completed, an updated smart contract address and instructions on how to update your wallets will be available via the website, email and social media outlets.

 

FOR MORE INFORMATION CONTACT: 
OFFICE@GSMININGCOMPANY.COM OR 310.596.7026
ABOUT GS MINING COMPANY LLC AND THE MORIA TOKEN
THE MORIA TOKEN IS A CRYPTO-CURRENCY ISSUED BY THE GS MINING COMPANY LLC WHICH OPERATES THE HISTORIC BATES HUNTER GOLD MINE IN COLORADO. MORIA TRADES ON THE OPEN CRYPTO MARKET AND TOKEN HOLDERS WHO TIMELY REGISTER AND CLAIM ROYALTIES ON SUCH DATES AS ARE ANNOUNCED BY THE COMPANY, WILL RECEIVE ROYALTIES BASED ON GROSS ANNUAL GOLD SALES.
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE, WHICH ARE NOT HISTORICAL FACTS, ARE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.  OUR ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. IN SOME CASES, YOU CAN IDENTIFY FORWARD-LOOKING STATEMENTS BY THE USE OF WORDS SUCH AS “MAY,” “COULD,” “EXPECT,” “INTEND,” “PLAN,” “SEEK,” “ANTICIPATE,” “INFER”, “BELIEVE,” “ESTIMATE,” “PREDICT,” “POTENTIAL,” “CONTINUE,” “LIKELY,” “WILL,” “WOULD” AND VARIATIONS OF THESE TERMS AND SIMILAR EXPRESSIONS, OR THE NEGATIVE OF THESE TERMS OR SIMILAR EXPRESSIONS. SUCH FORWARD-LOOKING STATEMENTS ARE NECESSARILY BASED UPON ESTIMATES AND ASSUMPTIONS THAT, WHILE CONSIDERED REASONABLE BY US AND OUR MANAGEMENT, ARE INHERENTLY UNCERTAIN.