We are proud to announce the release of Peercoin v0.11 (Codename Tardigrade). This is a mandatory upgrade. A hard fork will take place on November 1st, 2021 at 12:00:00 UTC, so be sure to prepare yourself by upgrading before then. Look below for more details concerning this release.
Note: The v0.11 release is named after the Tardigrade, one of the most indestructible animals on Earth, usually associated with Peercoin for having the qualities of a blockchain that is built to last.
- RFC-0014 - Remove Transaction Timestamp
- RFC-0022 - Limit PoW Rewards to 50 PPC Per Block
- Make Splitting Coins Optional During Minting
- Other Bugfixes
v0.11 builds on the v0.10 codebase by delivering a major change to the Peercoin network, the removal of the transaction timestamp. Why is this removal necessary you may ask.
The transaction timestamp was first implemented in Peercoin by Sunny King. Its purpose was to allow for an easier way to handle coin age in the client. It is a unique part of Peercoin’s protocol which does not exist in Bitcoin. Because of its inclusion however, it has had the unfortunate consequence of rendering Peercoin incompatible with a large number of tools, services, and infrastructure primarily developed for Bitcoin. As a result, integrating Peercoin with these tools and services requires additional time and effort to be spent on complex workarounds, making the timestamp a burden on our developers.
This upgrade removes the transaction timestamp from the protocol, eliminating Peercoin’s incompatibility issues. Once the protocol switches to v0.11, it will become much easier for developers to integrate with existing infrastructure such as Rosetta, Lightning Network, Atomic Swaps, DeFi, DEXes, and much more. This change will open Peercoin up to many different possibilities for future developments and integrations.
In addition, v0.11 also includes two other changes. The first is the new ability to prevent your coins from splitting once a block is minted. Previously this splitting was automatic, but v0.11 gives you the option to turn it off. Second, v0.11 institutes a new limit on the maximum reward possible for PoW blocks. This limit is set at 50 PPC per PoW block. The purpose of this limit is to shield the Peercoin network from excessive inflation in the unusual case of abnormally low PoW difficulty.
The next developments the team will work on concern the integration of tools that were previously incompatible with Peercoin due to the transaction timestamp. We will dedicate resources to implementing Rosetta, which as explained in our 2021 roadmap is a necessary requirement for integration with Coinbase.
Another important development will be the porting of LND (Lightning Network Daemon) to Peercoin. LND is by far the most popular software used with the Lightning Network.
Big thanks to volunteers who have made this release possible:
- @backpacker69 - Core Development
- @peerchemist - Project Management
- @Sunny_King - Technical Advisor
- @Buckkets - Splash Screen
Before installation, make sure to backup your wallet from the main menu.
v0.11 is a standard upgrade with no special requirements. A blockchain redownload is not required as long as you upgrade before the November 1st deadline. If you miss the deadline and upgrade later, you will need to redownload the blockchain.
The v0.11 client can be downloaded from the wallets page of peercoin.net. More download options can be found on Peercoin’s GitHub. For existing users upgrading from v0.10, upgrade instructions can also be found on that page. If you need help with installation, leave a comment below.
New v0.11 splash screen:
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.
Final Reminder: The upgrade deadline is planned for November 1st, 2021 at 12:00:00 UTC.