Fetch.ai to Conduct Mainnet Upgrade on January 15th
Fetch.ai has announced that a governance proposal for a network upgrade will be made available on January 8th at 12:00 UTC. This proposal is expected to provide details on the planned upgrade to the network.
The actual upgrade process is scheduled to commence a week later, on January 15th at 12:00 UTC. During this upgrade, the network will experience a temporary downtime as the necessary changes are implemented.
What is a hardfork?
The cryptocurrency mainnet operates according to certain rules. To improve network performance or correct errors, changes are periodically introduced into it. A hard fork represents changes that are not compatible with previous versions of software supporting the cryptocurrency network. In order to continue to mine the cryptocurrency, miners need to update the software.
In some cases, as a result of a hard fork, a completely new cryptocurrency may appear, as happened with Bitcoin Cash and EthereumPoW.
@fetch_ai
On January 8, 2024, 12:00 UTC, the proposal will go live.
Then on January 15, 2024, 12:00 UTC the upgrade will begin, and the network will have temporary downtime.