Bringing scalability to the blockchain ecosystem, the Syscoin 4.0 upgrade is extremely important to the Syscoin protocol and blockchain technology at-large; an upgrade of this scale has many steps, so we wanted to provide a brief detail of the upcoming events for the upgrade.
WARNING: To ensure the security of your funds, please do not send Syscoin until a public release is available
First, Blockchain Foundry (“BCF”) will be taking a snapshot of Syscoin 3.0 on block #548690 (approximately 7PM UTC- give or take a few minutes).
The new code will then be compiled with the Syscoin 3.0 snapshot and in coordination with the Syscoin Foundation, the Syscoin Development and Marketing Team, will perform final tests to ensure that the network is stable.
Miners & explorers will be contacted to pull the new Syscoin 4.0 code and validate everything is operational within their systems.
When they have upgraded, exchanges and services that list Syscoin will be contacted to also pull the code.
Finally, when the upgrade is confirmed with miners and major exchanges, we will provide a public release of the new wallet and instructions.
As the upgrade depends on many decentralized parties, it is completely normal for the entire process to take several hours. Upgrading will be possible as soon as we have publicly released the new wallets and stay tuned, following the upgrade, BCF will spark something special for the Syscoin community.