It’s been a while! Let's get you up to speed on where things are at in terms of developments for Verge Currency!
I’m not gonna lie, some pretty technical stuff has been going on. Let's dive right in!
Verge Core 6.0
After talking about a long term trend within the last development, we’ve internally decided to ship the first face of our feature which will basically establish more time for us to prepare more and more stuff for future usage, while we maintain the usability and economy of our currency.
One of these changes includes new halvings and they are coming — quite quickly. Thus we will update everyone as soon as possible we have a final version ready to go. The halving will work as follows and adds around four more years for us to develop a greater network.
The planned hardfork will take place at block 3,700,000.
Afterward, we will make sure to add the older nodes as outdated peers and keep developing on the V6 structures.
What’s still open to do as per development?
We've got this new schedule in place for a long long time (as planned), but we weren’t able to push this forward as we had to establish a perfect backward compatibility with the old core versions. Now we feel confident enough to take new steps and move forward with this. It’s already merged and being test and review right now. Feel free to join in and check the code yourself:
[VIP-1] Additional subsidy halvings v5 by marpme · Pull Request #904 · vergecurrency/VERGE
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What we exactly did since then:
- Added new halvings to the “GetBlockSubsidy”
- Adjust the test for the GetBlockSubsidy function
- Raise the protocol version
Who has to take action?
Exchanges and third-party online wallets (like binance)
They will need to monitor the chain fork and choose the longest chain as the standard, so for you, there’s no immediate action to be taken.
Core Wallet (Verge Core > V4)
You have to decide if you want to stay on the old chain or the new chain. Your coins will be available on both chains. We would still highly recommend you to upgrade to V6 obviously.
Electrum based wallets
These wallets will no longer work because all Electrum servers will be shutdown until new servers are available. This means the current Android Verge application will no longer work. We advice you to move those funds to other wallets.
Lightweight Wallets (iOS wallet, etc)
Background providers have to upgrade their infrastructure in order to provide you with flawless service, this might take some time. Just make sure you always have a copy of your keys (or mnemonics) to be able to import them somewhere else. For our iOS wallet (Verge Wallet Service) we will upgrade once a stable release is established.
Lloyd Might Explain It Better 😉
Verge Wallet Service
We’ve worked very hard on finding and developing a stable and reliable future for the maintenance and continuity of the Verge Wallet Service. This service is currently utilized only by the Verge iOS Wallet. In order to keep maintainability as high as possible, we moved the used code and programs to a GitHub repository where everyone can see and adjust how the servers are integrated and deployed. The new servers are currently in the final testing stages and will probably be used with the next iOS release. All user's wallets will need to be synced onto the new servers for their data to be restored. The Verge iOS Wallet will do this automatically after the update. If you find that you are still missing some funds or transactions (very unlikely), you can always go to the settings -> addresses -> scan addresses for balance.
The new servers are donated to Verge Currency by Go-Trex! So a huge thank you to them for the amazing generosity! Make sure to pay them a visit after reading this 😉
Verge Android Wallet
Verge iOS Wallet
Nothing happening here at the moment… maybe only that there will be a completely new redesign early next year. 😄
Bye! Hope to finish another update in about two weeks!