Peercoin v0.12 (Codename Ladybug 🐞) Released - Network will ONLY fork when 90% adoption is reached!

peercoin_Ladybug2

Peercoin v0.12 Released!

We are proud to announce the release of Peercoin v0.12 (Codename Ladybug). This is a mandatory upgrade. Please upgrade by April 17th, 2023.

A hard fork will occur once the following conditions are met:

  • April 17th, 2023, 12:00 UTC has passed.
  • 90% of the last 1,000 blocks are from a v0.12 wallet.

You can keep track of the current adoption percentage here:

Changelog

  • Rebase to bitcoin-core 0.23.
  • RFC-0005 - Prunes zero value outputs from UTXO set.
  • RFC-0020 - Reduces PoW difficulty on new PoS blocks if PoW block is overdue.
  • Client caches coinstake input transactions to reduce disk access and improve responsiveness.
  • QT wallet minting probability default is set to 30 days.
  • Various bug fixes and improvements.

Summary

This release rebases on bitcoin-core 0.23 in order to adopt the latest developments in the bitcoin ecosystem, namely Schnorr signatures and Taproot.

Schnorr signatures offer several advantages over currently used ECDSA signatures in terms of computational efficiency, storage, and privacy. It makes transactions smaller, and verification quicker and easier.

Taproot will enable sending to and spending from Schnorr public keys. In order to achieve this, a new type of ScriptPubKey called Pay-to-Taproot (P2TR) has been defined.

Schnorr signatures will make Peercoin transactions far more flexible. If you want to learn more about Schnorr signatures and Taproot, materials are readily available on the internet.

RFC-0005 - Unspendable Zero Outputs

Peercoin requires outputs to have a value of at least 0.01 PPC. However, there is one exception to this rule, 0 PPC outputs are allowed. Such zero-value outputs can have some useful applications laid out below, but an unfortunate side-effect is that they take up memory in the node’s UTXO table forever, increasing its memory usage. This RFC proposes a solution that fixes this memory leak without changing the rules for output values.

RFC-0020 - PoW Difficulty on PoS Blocks

Peercoin shares a mining algorithm with Bitcoin, so it is assumed that the total potential hashpower in existence greatly exceeds the hashpower targeting the Peercoin chain. As a result, miners will turn to Peercoin when profit is high, drive up the PoW difficulty, then move on to other chains. This causes a difficulty bomb in which the difficulty remains high until the next PoW block is found. Once that next block is found at the high difficulty, the difficulty immediately drops and the next several PoW blocks are easily found until the difficulty is driven up again. This boom-and-bust behavior causes long strings of PoW blocks that have low chainweight and can be orphaned by a single PoS block. By adjusting the PoW difficulty on PoS blocks found during these long periods, the difficulty bomb is diffused and PoW blocks can be found at more regular intervals.

What Comes Next?

Now that Peercoin is caught up with upstream Bitcoin, we will begin to focus on supporting technologies that will make it easier for Peercoiners to interact with layer 2 networks.

We’re delighted to have recently recruited a qualified developer to port btcd. Btcd is an alternative implementation of a full node written in Go (golang). It is a required prerequisite for a number of technologies like Coinbase Rosetta and LND (lightning network daemon).

Work on the btcd port started this week. Work will be done in 3 phases. The first milestone is the ability to sync, without validation. The second is PoS validation, and the final milestone is everything the reference node can do, except minting. Minting functionality is not necessary for the port.

A previous Peercoin update made viable multisig minting, whereby an address with multiple signatures can participate in the minting process. The Foundation has made use of this new feature by generating blocks and rewards from its multisig donation address. Continued research into ease of use will make such features accessible to all Peercoin users and may usher in a new age of advanced multisig minting paradigms to address diverse user needs.

Upgrading

You only need to upgrade if you’re using the core reference wallet. This is the one listed at the top of the wallets page.

If your peercoins are being used with any of the following apps, services, or devices, then there is nothing you need to do. These services will carry out the upgrade for you.

  • Android Mobile Wallet (Flutter)
  • iOS Mobile Wallet (Flutter)
  • Web Wallet (Flutter)
  • Hardware Wallet (Ledger)
  • Exchange (Centralized)
  • Bridge.peercoin.net (Wrapped Peercoin)

Before installation, make sure to backup your wallet from the main menu.

For users of the core reference wallet, v0.12 is a standard upgrade. However, if you don’t upgrade before the blockchain forks on or after April 17th, you will be required to resync the blockchain, so it is best not to delay.

The v0.12 wallet can be downloaded from the wallets page. Instructions for upgrading are provided below the download links. More download options can be found on GitHub. If you need help with installation, leave a comment below.

Contributors

Big thanks to volunteers who have made this release possible:

Donate

Remember that these developments are sponsored by the Peercoin Foundation, which in turn is sponsored by generous community donations. PPC, BTC, and Fiat donations can be made at peercoin.net/foundation.

Support

To stay informed, you can follow the latest Peercoin news on our forum, our Twitter, or Reddit. If you want to come chat or need help, come say hi to our team and community on Telegram/Discord.

Retweet

https://twitter.com/peercoinppc/status/1620872995475689472?s=46&t=_V0g_jnBD9ZOvSKOHHfXEA

13 Likes

Congratulations Peercoin team for another fantastic release!

4 Likes

You can keep track of the current adoption percentage of v0.12 here…

8 Likes

Congratulations Peercoin team for another phenomenal release!

3 Likes

:partying_face: :partying_face: :partying_face:

1 Like

v0.12.1 has been tagged today

1 Like

Hi!

I’m running Peercoin-qt on a raspberry pi (Stakebox). Peercoin v0.12 always crashed with an error “GLIBC_2.2.5”, “GLIBC_2.27”, “GLIBC 2.28” and “GLIBC 2.29” not found.

Running ‘apt-get install libc6’ told me that GLIBC_2.24" was the latest version for my system.

So, after some research, I found out that my Stakebox was running on Debian 9, and I had to upgrade to Debian 11. After flashing my SD-Card with Debian 11 and putting everything back in place, it works fine now.

Just thought to mention this, because others might run into the same problem.

5 Likes

Oh wow I did not expect that someone will be running such an old version of debian still. Debian 12 is about to be released :slight_smile:

Packages are out for debian 10 and debian 11.

Raspbian OS does not upgrade.There might be some workarounds, but the only clean way to upgrade is to back-up everything, then make a fresh install, and then try to put everything back in place.

Thus, I would assume that many stakeboxes from stakebox.org are still running on the OS that they were shipped with.
By the way, does anybody know what happened to stakebox.org? Any items there seem to be “sold out”, and I think they have been so for quite a while.

I believe company effectively went down in 2017/2018.

Hey guys, vote for the v0.12 hard fork on Coinmarketcal. No account is needed…

2 Likes

It is recommended that you upgrade to v0.12.2, as it fixes an issue that can prevent your wallet from minting new blocks. You can find it here…

2 weeks remain before the network can fork. Please upgrade to v0.12 before April 17th. Here is the current progress…


Peercoin v0.12.3 has been released and adopts a change to help combat the potential of ordinal inscriptions on Peercoin. Witness data size for each input will now be limited to 100kb, mitigating against excessive data usage within transactions.

Reminder for those who haven’t upgraded from v0.11 yet, April 17th is quickly approaching.

3 Likes

Peercoin v0.12 reaches 60% support…

https://twitter.com/peercoinppc/status/1647615961556451329?s=46&t=gKHcbejKPOEI-WfLwNPjlg

2 Likes

The adoption of v0.12 is currently sitting around 81%: https://fork.ppc.lol/

The network cannot fork until it hits 90%, so only about 9% remains. For those already minting, you can help push us over the edge by upgrading to the latest version. For minters that have already upgraded, you can still help by buying more PPC and adding it to the balance you are currently minting with. With more PPC minting, you will help increase the number of v0.12 blocks that get produced.

If you have never minted before, you can earn 3-5% by starting. Leaving your node minting 24/7 will earn you a higher reward than only turning it on occasionally. Putting your inactive coins to use here will help us fork faster. If you have any questions about the process, please ask below. Here are a couple tutorials on minting to get you started…

2 Likes

Trying to upgrade my PI (running Debian Buster 10); followed these instructions on the wallets page:

sudo apt-get update
sudo apt-get install apt-transport-https
sudo sh -c “echo ‘deb APT repository | deb-repo buster main’ >> /etc/apt/sources.list.d/peercoin.list”
wget -O - https://peercoin.github.io/deb-repo/peercoin.apt.key | sudo apt-key add -
sudo apt-get update
sudo apt-get install peercoin-qt

But installation says I’m already on the newest version 0.11.0-1

@zattack I’m sure someone will help you when they get a moment. Just keep checking back.

1 Like

A signaling issue was found in early branches of v0.12. You may be inadvertently helping to delay the hard fork by minting on one of these early versions. We released v0.12.4 to fix the issue, so please upgrade at your earliest convenience.

v0.12.4 also fixes the alert system for new versions. Once you upgrade to v0.12.4, a message will now display at the top of the wallet letting you know when you need to upgrade.

Version upgrade message…

2 Likes

Have you tried this?

1 Like