IoTeX to Undergo Hard Fork on June 19th
IoTeX has announced the v.2.2.0 upgrade for its Layer 1 blockchain, scheduled to activate at block 36,893,881—estimated to occur on June 19, at 01:28 UTC. The upgrade introduces two major improvements: block time is reduced from 5 seconds to 2.5 seconds, and System Staking v.3.0 replaces the deprecated v.2.0.
All node operators must upgrade to v.2.2.0 to maintain network compatibility. No configuration changes are needed—nodes simply require a restart with the updated image. Full details are available on GitHub.
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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