Peercoin v0.14 Released!
We are pleased to announce the release of Peercoin v0.14. This is a mandatory upgrade. We call for all stakeholders to adopt the new protocol changes. Please upgrade your wallet by June 3rd, 2024.
Hard Fork Details
A hard fork will occur once both of the following conditions are met:
- 75% of the last 1,000 blocks are from a v0.14 wallet.
- June 3rd, 2024, 12:00 UTC has passed (earliest date network can fork).
All exchanges and services should update their clients immediately.
You can follow the progress of the hard fork here:
Changelog:
Summary
Release v0.14 builds on the Anisoptera codebase (v0.13) and introduces two new protocol changes. The major change is the adoption of ASERT, a new PoW difficulty algorithm we are adopting from Bitcoin Cash developers. This shift to a more responsive difficulty adjustment algorithm (DAA) ensures Peercoinâs PoW protocol can swiftly adapt to dramatic hash power fluctuations, stabilizing the production of PoW blocks and reducing inflation.
The second change is altering the way transaction confirmations are counted in regard to PoW blocks. Since PoW blocks carry no security weight in the Peercoin protocol (only serving as a way to continually distribute new coins), it makes sense to omit these from transaction confirmations.
What Comes Next?
RFC-0028 - Optimal Stake Split and Combine
RFC-0028 will make the Peercoin reference wallet smarter so it helps minters achieve their highest potential reward. It does this by automatically arranging outputs close to the economic optimum, which is the output amount that produces the highest expected return when continuously minting. Once reserved for minters who know the ins and outs of Peercoinâs PoS protocol, this upgrade completely automates the creation of proper output sizes, so the user can easily maximize their rewards. This new feature will be implemented as an upcoming point release for v0.14, so stay tuned!
Improved Network Parameters - Another improvement to Peercoin being considered for the RFC process is a set of adjustments to Peercoinâs staking logic. From the perspective of users, it would cut the block time target in half from 10 minutes to 5 minutes. It would reduce the stake maturation period from 30 days to 21 days so that users can begin staking earlier. It would greatly favor smaller UTXOs for staking about 50 PPC in size, making it easier for smaller stakers to participate in the consensus process. Consequently, it would substantially increase staking rewards when the security level is relatively low to further incentivize staking when it is most required. Overall, these changes will make Peercoin faster, fairer, more rewarding and more secure.
Upgrading
You only need to upgrade if youâre 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.
- iOS/Android/Web (Flutter Wallet)
- Hardware (Ledger Wallet)
- 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, v0.14 is a standard upgrade. The only difference is there will be a warning about rebuilding the database. This is normal, so continue with it and your wallet will resync the blockchain.
The v0.14 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:
- @backpacker69 - Core Development
- @peerchemist - Project Management
- @Buckkets - Splash Screen
- ihavenoface (noface) ¡ GitHub - GUIX build system
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.
