As most of you are aware we will be upgrading our blockchain on the 1st of June 2018 at 22:00 UTC. The upgrade has two goals; to fix the current staking issue and to increase the block reward from 2 XWC to 5 XWC per block.
We’re now under 48 hours until the upgrade occurs!
The Whitecoin team has been in contact with all of the exchanges and platforms that support Whitecoin and we can confirm that all platforms have updated to support the upgrade!
This means that your favourite exchange or platform will continue to run seamlessly allowing you to continue to utilise their services with confidence that your XWC are on the upgraded network.
We have seen a very high adoption rate for the v2.5+ wallets which are compatible with the upcoming update which is fantastic! We really appreciate that so many of you have made the effort to ensure you’re up to date and running the correct platform!
For those who have not yet updated their wallet, you can visit out github and get the latest version here.
- What is a mandatory update and why do I need to update?
A mandatory upgrade is when you are required to upgrade your software to a minimum version in order to stay on the Whitecoin network and correct chain. This is usually due to a software upgrade that will cause a hard fork, but sometimes is due to other factors like a software security concern.
You need to update to ensure that you are following the correct Whitecoin chain and also to support the update to ensure that the updated chain is the dominant network.
- What happens if I don’t upgrade before the deadline?
If you are running an old version of the Whitecoin wallet during or after the fork, you will start recording blocks on the wrong chain. You will not be able to send XWC or otherwise interact with the XWC network and correct blockchain.
This means you will not be able to perform transactions or receive block rewards for staking.
- I missed the deadline, what now?
Do not worry! If you do not update before the deadline your coins are safely stored as long as you have a copy of your wallet.dat file. To continue to use the Whitecoin network you will only need to update to a wallet v22.214.171.124 or later, clear your cached data (except for your wallet.dat) and re-sync with the network.
- What happens if I tried to send or receive XWC while I was on the wrong chain?
If you sent XWC while on the wrong chain, your address still has those XWC on the correct chain. If someone sent you XWC, your address on the correct chain has those XWC, your client just can’t see them yet (assuming the sender is on the correct chain). To confirm XWC did or did not send on the correct chain, check the destination address on the block explorer
Please do not hesitate to contact the Whitecoin team if you encounter any problems or want any further clarification. This can be done by any of our social media channels. Discord, Telegram, Twitter, Reddit, Facebook, Bitcoin Talk Forum or email.
The Whitecoin logo competition will finalise prior to the blockchain upgrade on the 31st of May at 23:59 UTC!
There is still time to cast your vote for the logo you want to represent Whitecoin in to the future. We are very pleased with the support received so far and would love to see some final input before the final deadline! You can still influence the outcome and help the Whitecoin team fund future developments.
View the 9 logo candidates and cast your vote here!