What Can Users Expect During and After the NULS 2.0 Mainnet Upgrade?

Image for post
Image for post

We wanted to issue a quick update and insight into what users can expect over the next 2 weeks during the finalization of the 2.0 mainnet upgrade.

This is not comprehensive instruction on what users need to do for the upgrade. Please find those instructions here. The following is insight about what to expect during and after the upgrade, with some helpful suggestions included.

Reminder: Always be sure to have your private keys and keystore file backed-up to a safe place.

The NULS 1.0 mainnet has reached a 90% consensus whereby 90% of all mainnet 1.0 nodes have upgraded to the newest version. After 30,000 blocks have been reached, a switch will be triggered which changes the 1.0 protocol to the newest 1.0 version. This switch means that remaining nodes that did not upgrade will begin to be yellow-carded, since they are operating on a fork, and not the real mainnet (they are running an old version of the software).

Users who are staked into nodes that have not upgraded should relocate their stake, since nodes that failed to upgrade will experience a downgrade in credit rating and subsequent reduced rewards.

At this point, the 1.0 network will still be processing transactions and packing blocks as usual, however once 80,000 blocks have been reached, the network will stop packaging transactions, but the block height will continue to increase as blocks are produced. None of these blocks after 80k will contain transaction information since transactions will no longer be packaged. This allows for the snapshot to occur — a snapshot is a “picture” of the blockchain taken at a set point in time. The snapshot allows account balances and other critical information to be recorded and then inputted into the new mainnet of 2.0. It will take approximately 24 hours for the team to input the information into the new mainnet.

The following is an expected timeline of mainnet 2.0 launch events:

September 2, 2019 — After 30,000 blocks at block height: 3586818, the protocol switch will happen. Protocol switch time and date: 2019–09–02 13:11:34 (UTC+ 8)

  • Nodes that have not upgraded to the new version will begin to experience downgrade of credit rating
  • Stakers should move to nodes that have already upgraded
  • Desktop users should make sure they have upgraded to the newest version of the desktop wallet
  • Exchanges may no longer process transfers

September 11, 2019 — After 80,000 blocks at block height: 3666818, the 1.0 mainnet will stop packaging transactions and the snapshot will occur. Time and date: 2019–09–11 19:23:54 (UTC + 8)

  • Rewards will stop for both stakers and nodes
  • Transactions will no longer be processed or packaged
  • The snapshot will be conducted
  • Exchanges will no longer process transfers or other transactions

September 12, 2019– Roughly 24 hours after the 1.0 mainnet stops packaging transactions, launch of the 2.0 mainnet is expected to be official and final.

  • The snapshot data has been ported to the new 2.0 mainnet
  • The new 2.0 mainnet nodes will join consensus to secure the new network
  • Node operators will receive a new node ID, and a new address but retain their 1.0 node aliases and balance
  • Light wallet: Users can import their old private key and keystore to access their new 2.0 account address and balance
  • Desktop wallet: After downloading the new 2.0 wallet, users can import their private key or keystore to access their new 2.0 account address and balance
  • Stakers can restake into the new 2.0 mainnet nodes

Please note that your NULS address on 2.0 mainnet is new — you will no longer be able to use your old mainnet address for transactions, withdrawals, etc. and should manage any external accounts accordingly.

Join our social media and explore NULS!

Twitter Follow now
Reddit Subscribe now
Telegram Join now
YouTube Subscribe now

Written by

Nothing Makes Blockchain Easier

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store