Siacoin (SC) to Reset Proof-of-Stake and Fork Decision!

Siacoin (SC) developers have decided to take back their original ruling of allowing Bitmain and ASIC mining rigs to command SC blockchain. The fork Version 1.3.6 on Oct, 31st will provide these technologies irreconcilable with Siacoin mining. It will open up a new way for SC leading developer David Vorick to expiate the hashrate for the miners.

David Vorick, CEO of Nebulous told CoinDesk that Siacoin will shortly approve a software modification that will block certain kinds of mining hardware from the network. Only the hardware assembled by Nebulous will be able to take profitable reward from Siacoin blockchain technology. Vorick stated:

“Sia’s decided to fork to obsolete or block the Innosilicon and Bitmain hardware”

Proof-of-Stake Reset

After much discussion with the community and comprehensive check of ASIC, leading team of SC has assured to reset the Proof-of-Stake function block Bitmain and Innosilicon hardware. Sia network believes that this decision will bring good consequences for Siacoin and will set a good example for other digital currencies ecosystem who are going through same issue.

Siacoin (SC) brief History with ASICs

In June 2017, SC announced that Sia would be going after ASICs and that Nebulous would go around a new subsidiary (Obelisk) to create ASICs for the Siacoin network. The investors got attracted towards this program and for long period of time Siacoin members gave millions of dollars to buy ASICs.

The argument then led to the renewal of PoS, as the Obelisk mining rigs failed to ship probably due to a preventive stop-loss given the market ruling of the Bitmain. Due to such experience Siacoin had to block Bitmain and just-grant Obelisk rigs to run the blockchain system. This means that the units can be shipped and the initial customers can start mining.

Fork Decision

Why has Sia’s core team decided to fork now? Why not back in January? In January, the correct course of action was not clear. SC network taken by surprise, and the conversation around forking quickly devolved. The discourse was more like a shouting match than a measured debate, and as such, there was no hope of accurately gauging the collective sentiment of the community. Despite many core team members strongly supporting a fork, SC ultimately could not justify acting rashly in a period muddied by so much uncertainty.

Today, tempers have cooled considerably, and know Siacoin can assess the consequences of their decision as well as the current sentiment. Everything they know indicates that a substantial majority of Sia’s users , its renters, hosts, traders, and developers support forking to escape the grip of unethical mining manufacturers. Given that state of affairs, it is in keeping with SC’s duty as maintainers to act in accordance with their will. The decision to fork, of course, ultimately rests with the users, Siacoin cannot force anyone to run the fork code that they release. But if SC continue to withhold that code, they deny their users the autonomy to make that choice at all.

Fork Logistics

When will the fork occur? The fork will activate on October 31st, 2018. Nebulous will release v1.3.6 of Siad and Sia-UI at least two weeks prior to the fork. v1.3.6 will be identical to v1.3.5 except for the inclusion of fork-related code, making it easy for dissenting forks to build on top of v1.3.5.

Siacoin (SC) acknowledge that this is a short time frame. Unfortunately, the nature of this fork means that time is of the essence. SC will be offering assistance to anyone who needs help upgrading to v1.3.6.

Mining

If the Obelisk miner has to continue mining post-fork the users will need to update their firmware to the latest version, which the Obelisk team will release prior to the fork. No other changes are necessary.

If the user is a non-Obelisk miner than ASIC mining hardware will still be effective on dissenting forks. GPU miners will be able to mine on the post-fork chain once their software is updated with the alterations to the proof-of-work algorithm.

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