Planq to Release Planq Chain v.1.1.0 Upgrade on February 14th
Planq is set to upgrade to version 1.1.0 on the 14th of February at approximately 15:00 UTC. This upgrade is significant as it will enable the ERC-20 module, which will allow the conversion of IBC tokens to ERC-20 and vice versa. All validators are advised to upgrade before block 7,516,700 to ensure smooth operation.
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.
@planqfoundation
Planq will upgrade to version 1.1.0 wednesday the 14th of february ~15.00 UTC🔖.
This upgrade will enable the ERC20 module, making it possible to convert IBC tokens to ERC20 and vice versa.
All validators should upgrade before block 7.516.700 🧊