Haven XHV: Upgrade to Monero v.0.16
Development work for v0.16 and the web Vault has been ongoing for several weeks, and we expect to launch a v0.16 testnet next week. Our goal is to conduct a hard fork in October (once testing is complete) to launch these upgrades live on Haven’s network.
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.