Proof-of-Stake, or PoS, blockchain Qtum efficiently accomplished a tough fork of its testnet in preparation for the launch of its mainnet laborious
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 line with a press release despatched to Cointelegraph, the improve went reside 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 part earlier than Qtum launches its mainnet laborious fork. That is anticipated to occur on August 28, 2020, or at block peak 680,000.
As of press time, Qtum claims that greater than 300 community members have earned nearly 1,000 QTUM by way of staking.
The corporate particulars:
“Offline staking is without doubt one of the largest modifications to the Qtum protocol up to now. Up till now, Qtum has allowed Proof-of-Stake consensus staking solely from on-line nodes that safe and function the blockchain. Because of this, QTUM holders who didn’t need to run a full node, had safety issues, or struggled to fulfill the useful resource and energy necessities have been unable to take part in staking.”
Patrick Dai, co-founder of Qtum, mentioned {that a} Testnet Stake-a-Thon will give blockchain lovers an opportunity to familiarize themselves with ideas similar to tremendous stakers, handle delegation, “and the way simple it may be to take part within the consensus of a worldwide community.” He additionally added:
“It will empower the group to undertake the identical duties in a sensible setting when the mainnet laborious fork goes reside 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. It will assist to democratize the community and make it extra distributed and safe.
Cointelegraph beforehand reported that Qtum went by way of its first-ever laborious fork on October 27, 2019. This fork occurred at block 466,000, upgrading the Qtum community to unlock numerous vital options together with good contracts and block spacing enhancements.