Steemit, the popular blockchain-based content platform, will likely be undergoing its Velocity hard fork in a mere over a week. Yesterday, they published a tweet and article that announced the blockchain’s imminent hard fork.
The Steemit blockchain team has officially published our release for Hardfork 20, codenamed “Velocity.” This release includes code that specifies how the Hardfork will occur on September 25th. Find out more: https://t.co/nwthXX0yXf #steem #steemit #blockchain #cryptocurrency #crypto
— Steem September 14, 2019
As Steemit explains, hard forks make changes into a platform’s consensus rules. Different versions belonging to the Steemit software produce different blocks, and witnesses choose the new block scheme making use of the new version within the software. Looking for sufficient volume of witnesses install the fresh new software and are also in agreement, the next block that’s produced will activate the hard fork.
However, executing a difficult fork requires coordination, and Steemit is calling on various members of the Steem community to participate. Witnesses are reviewing variations in the hard fork’s code and will be updating to your new version of Steem in the next several days. Exchanges also are moving in to the new release.
Users Should Vote
This is just not a matter for block witnesses. The announcement urges users to vote for witnesses that happen to be accepting the difficult fork. The challenging fork will in all probability be adopted, but voting is nevertheless important, as doing so lets the developers realise that they are acting through the interests on the community:
“The hardfork vote on the top 20 witnesses determines perhaps the hardfork?and the improvements included in buying it?becomes active or you cannot. Once a hardfork becomes active it cannot be undone except via another hardfork. This approach is an incredibly important part of participating at the Steem Blockchain. In many ways, using this method is how we ratify amendments for the Steem Constitution.”
In theory, users could collectively opt for witnesses which can be rejecting the hard fork, however this is unlikely that occur. Apart from a small number of misgivings, the support for that hard fork makes my head spin. If you are a Steem user, you could cast your vote on the official Steemit site.
New Features in Velocity
The Velocity hard fork delivers many the latest features to users, along with a revised credit system, new account features, and reduced curation windows. Additionally, changes to self-voting policies inhibits bad actors from gaming the reward system. Steemit’s recently announced smart media tokens defintely won’t be part of this update.
These are just the features which affect users: additional features will be great for block witnesses all of which will improve blockchain security. If everything goes as planned, Velocity may go live on Tuesday, September 25, 2019 15:00:00 UTC.