Qtum Mainnet Hard Fork Update (28-08-2020)

Qtum has updated the Qtum Core Wallet (full node) to add offline staking protocol. This consensus change requires a hard fork which is set for block height 680,000 sometime on August 28, 2020 (GMT+8). All network nodes must update well before August. Qtum testnet hard forked at block height 625,000 on June 29.

Offline Staking Tutorial: https://docs.qtum.site/en/OfflineStaking.html

Super Staker

The hard fork update will enable the Qtum Core wallet to operate as a “Super Staker” and accept delegations via a smart contract to provide Proof-of-Stake for non-staking wallet addresses. The protocol is non-custodial and provides real-time payout using a split block reward – most paid to the delegator with a mutually-agreed fee for the Super Staker. We expect exchanges and staking services to offer Qtum Super Stakers. Please see the references below and contact us if you would like more information about running a Super Staker.

Wallet Address Delegation

The offline staking protocol will allow the delegation of a user’s address to a Super Staker. This assignment transaction will initially be available in the Qtum Core wallet, Qtum Electrum wallet (with Ledger support), and some other wallets. The delegation (and undelegation) transaction is straightforward where the user selects their address to delegate, the Super Staker address, and the fee they agree to pay (default 10%). The rest of the delegation transaction is fixed: contract address, gas price, gas amount, and signature. We can provide a reference implementation on Qtum Electrum and will provide test Super Stakers on Qtum testnet and mainnet for delegation transactions validation.

The Qtum explorer qtum.info will provide a “rich list” for Super Stakers and a “Waiting Room” page for discovery of new Super Stakers.

Next Steps

If you have one of our StakeBox's then please update the Qtum Core Wallet to version 0.19.1. To do this you will need to run the following command from the command line:

sudo apt-get update
sudo apt-get install --only-upgrade qtum

 

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