Komodo to Undergo Hard Fork on October 4th
The Komodo blockchain network will implement its annual hard fork at KMD block height 4,125,988, expected to occur on October 4, 2024, at 13:37:33 UTC. Asset chains (Komodo Smart Chains) will activate the upgrade at timestamp 1728049053.
The update introduces the newly elected notary node public keys for Season 8 (S8) and implements key consensus changes, including KIP0002 (KMD Block Reward Reduction) and KIP0003 (KMD Transaction Fee Burn), both of which were approved by the Komodo community.
The development team has already integrated the changes into the Komodo code base, and the upgrade is mandatory for the entire network before October 3, 2024. Users operating the Komodo daemon must update it as soon as possible
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.
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The Komodo #blockchain network will undergo its annual network upgrade (hard fork) at KMD block height 4125988 (expected to take place on October 4, 2024, at 13:37:33 UTC).
Asset chains (Komodo Smart Chains) will activate the upgrade precisely at timestamp 1728049053.
The Development team has already activated changes to the Komodo code base. The changes are mandatory for the entire network before October 3, 2024.
This release includes the newly elected notary node pub keys for S8 (Season 8), along with other important consensus changes and improvements such as KIP0002 (KMD Block Reward Reduction) and KIP0003 (KMD Transaction Fee Burn), both of which were voted on and accepted by the Komodo community.
If you run the Komodo daemon, please make sure to update it ASAP by following the instructions here👇
https://komodoplatform.com/en/blog/komodo-drogon-update/#instructions-for-updating-the-cli-daemon