Hard Fork Phase 1 is Now Open

The next Nimiq Blockchain upgrade is underway, and validators can now apply the v2.0.0 patch and signal their readiness. Here is what is happening, what it means for you, and where to follow along.

Aug 10

byTeam Nimiq

As previously announced, Nimiq has proposed a protocol upgrade containing security-relevant improvements. From today, the first phase of that upgrade is open, and validators will decide whether to adopt it.

What happens in Phase 1

The new version of the protocol has been shared with community members running a Validator Node. Validators who choose to adopt the upgrade can do so by applying the security patch and committing a readiness signal to the staking contract. Nothing changes on the network during this part of the process.

The upgrade activates once validators representing 80% of staked NIM have signaled readiness, at the next election block after that threshold is reached. Since the upgrade process depends on the validators signaling readiness, there is no fixed activation date. It will not happen before the threshold is met. We will keep you updated and announce news regarding this important process.

Follow the progress

You can follow the signaling live on the readiness dashboard. It shows how much stake has signaled so far and how close the network is to the threshold.

If you run a validator

Validators in the Nimiq CERT channel (the group of community members running validators) have already received the patch and the instructions needed to apply it and signal readiness.

If you run a validator and have not been contacted, get in touch with the team so we can verify your setup and bring you into the process.

If you stake, hold, or use NIM

There is nothing you need to do. Your funds are unaffected, and the wallet works as normal.

Some exchanges may pause deposits and withdrawals around the upgrade as a standard precaution. That is normal practice and up to each exchange. If you plan to move NIM in the coming weeks, check your exchange's announcement regarding this upgrade. Developers of Team Nimiq are in touch with all exchanges and supporting them through the process.

What comes next

Once the upgrade activates, we will announce the v2.0.0 release for node operators, along with what they need to do to stay in consensus.

Thank you for supporting Nimiq.

Pura Vida

Team Nimiq

Disclaimer

None of the statements must be viewed as an endorsement or recommendation for Nimiq, any cryptocurrency, or investment product. Neither the information, nor any opinion contained herein constitutes a solicitation or offer by the creators or participants to buy or sell any securities or other financial instruments or provide any investment advice or service. All statements contained in statements made in Nimiq's web pages, blogs, social media, press releases, or in any place accessible by the public, and oral statements that may be made by Nimiq or project associates that are not statements of historical fact, constitute "forward-looking statements". These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual future results, performance, or achievements to be materially different from any future results, performance, or achievements expected, expressed, or implied by such forward-looking statements. The final decision of implementing any changes to the Nimiq protocol, including its parameters, always remains with the decentralized node operators who agree what version and parameters to deploy and support.