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Qtum Preps for Mainnet Hard Fork With New Testnet Event

Qtum Preps for Mainnet Hard Fork With New Testnet Event

Proof-of-Stake, or PoS, blockchain Qtum efficiently accomplished a tough fork of its testnet in preparation for the launch of its mainnet laborious fork.

In response to a press release despatched to Cointelegraph, the improve went dwell on the testnet at block 625,000 on June 29. This occasion formally launched offline staking in Qtum.

Mainnet laborious fork to occur in August or at block 680,000

The testnet occasion – scheduled to begin on July 6 – is the final section earlier than Qtum launches its mainnet laborious fork. That is anticipated to occur on August 28, 2020, or at block top 680,000.

As of press time, Qtum claims that greater than 300 community individuals have earned virtually 1,000 QTUM by means of staking.

The corporate particulars:

“Offline staking is likely one of the largest modifications to the Qtum protocol so far. Up till now, Qtum has allowed Proof-of-Stake consensus staking solely from on-line nodes that safe and function the blockchain. Consequently, QTUM holders who didn’t need to run a full node, had safety considerations, or struggled to satisfy the useful resource and energy necessities had been unable to take part in staking.”

Patrick Dai, co-founder of Qtum, mentioned {that a} Testnet Stake-a-Thon will give blockchain fans an opportunity to familiarize themselves with ideas comparable to tremendous stakers, handle delegation, “and the way simple it may be to take part within the consensus of a world community.” He additionally added:

“This can empower the group to undertake the identical duties in a practical setting when the mainnet laborious fork goes dwell in late August, bringing offline staking to the Qtum ecosystem.”

Democratizing and securing the community

Qtum states that offline staking will assist to extend participation within the staking course of. This can assist to democratize the community and make it extra distributed and safe.

Cointelegraph beforehand reported that Qtum went by means of its first-ever laborious fork on October 27, 2019. This fork occurred at block 466,000, upgrading the Qtum community to unlock quite a few vital options together with sensible contracts and block spacing enhancements.

Credit score: Source link

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