The Lightning Network is the most directly useful application of smart contracts to date since it allows for off-chain transactions that optionally settle on-chain. This infrastructure has clear benefits for both scaling and privacy. Decred is optimally positioned for this integration.
The vote has passed! The new rules will be activated in approximately 38 hours (448 blocks). Ensure you are running a recent enough software version that supports the new rules. Visit our Downloads Page to get the latest Software.
There is a two-phase process for voting to implement consensus changes that would create a hard fork.
The first Phase is meeting the upgrade threshold on the network. A majority of PoS/PoW nodes on the network must upgrade before voting can begin. This is measured in the following ways:
- For PoW, at least 95% of the 1000 most recent blocks must have the latest block version.
- For PoS, 75% of the votes cast within a static 2016 block interval must have the latest vote version.
The second phase is the voting itself. Voting takes place within a static 8064 block interval. If 75% of votes mined within that interval signal a ‘yes’ vote to the proposals, the changes are implemented. Implementation happens after one additional block interval to allow any remaining nodes to update prior to the fork.