Please note: Only if you run a FULL NODE wallet or a MASTERNODE you are required to take action. If you keep your coins on the exchange or in the Lite wallet, no action is required.
The BitCanna blockchain currently records over 685000 blocks. Since the launch of our mainnet we’ve currently done one major network upgrade before, and we are now ready for the second one. The network upgrade to version 1.0.2 will occur at Block Height 710216. The expected date for the update is the 25th of March 2020, around 11:00 CET, providing all users approximately 8 days to upgrade to the new version.
What is required?
If you run a FULL NODE wallet or MASTERNODE you are required to update your software to the latest version. If you keep your coins on the LITE wallet or on an exchange, there is no action required. The new wallets are available for download here. All you have to do is run the newly downloaded wallet, which will automatically switch to the new version of the blockchain when the target block is reached. So there is no need to replace your “data” files, you only have to run the new wallet executable. There is no further action required and your funds will not be affected. Beware of scams telling you to move your coins anywhere.
The hard-fork changes the ‘rules’ to which each block must adhere. If you’re not sure what a “fork” means in blockchain, you can read up on it here. During the update there will be ‘old’ and ‘new’ blocks, this situation will cease to exist once all nodes have upgraded to the latest version. Important: the new version (1.0.2) nodes will not process old version (1.0.1) blocks. Meaning that after block height 710216 is reached, the old version wallets will not be able to successfully mint new blocks as they will not be accepted by the network. If you proceed with the old version after the fork target block height is reached your node will run a sidechain of the BitCanna blockchain.
Therefore all users running a FULL NODE wallet or MASTERNODE will need to upgrade the wallets to version 1.0.2 to participate in the BitCanna network and the Proof-of-Stake consensus to earn staking rewards. Please note that you will not lose any of your coins, but you simply will not be able to use your staking rewards.
Updates and fixes
* Fixed the issue regarding the high amount of orphaned blocks being generated.
* Fixed the issue regarding incorrect timestamps on minted blocks.
* Fixed the unstable network difficulty.
* Fixed the inconsistency in masternode rewards.
* Minor adjustments: updated copyright and wallet version.
The majority of the issues were connected to one single issue. Some node wallet users currently generate blocks in the future (unknowingly), leading to orphaned blocks on nodes working in the present, which also leads to incorrect timestamps and a difficulty decrease. Post hard-fork, this issue will be fixed.
What happens with third-party services?
Exchanges and other integrators working with BitCanna are notified in advance and have updated their wallets, which means that they all operate with the latest software. This means you do not have to worry about coins that are stored on an cryptocurrency exchange.
The BitCanna team thanks all of our users and integrators for their timely updates and contributions to the network health. If you got any feedback, questions or problems please don’t hesitate to contact us! The BitCanna team is available via Telegram and E-mail.