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BHD1 will undergo a mainnet upgrade
According to the latest BHD1 whitepaper, BHD1 will undergo a mainnet upgrade on June 19, 2023 from 13:00–17:00 with a fork height of 860130. The consensus algorithm for this upgrade will switch from Burst’s PoS to Chia’s PoST and will use Chia’s Plot file for mining. The original Burst consensus protocol is only used when verifying old blocks and will not be able to use Burst’s Plot file to generate new blocks after the upgrade. At the same time, the new mainnet will inherit the original BHD1 ledger.
The significant changes in this BHD1 including:
- the total amount of currency issued
- BHD1 makes an upgrade to the original staking
Total amount of currency issued
It has increased from the 21 million to 63 million. After the hard fork, each block will produce three times the original issue. The Foundation will no longer receive a reward from new blocks, but will receive a one-time reward of all the total amount of coins already issued multiplied by two in the first forked block. This reward will be used for BitcoinHD1’s development and community operations.
Staking Upgrade
The amount required for a staking is related to its network-wide computing power and the current amount of currency in issue (i.e. in circulation):
- The more hashrate a node has, the more currency it needs to stake.
- When the amount of currency issued increases, the amount of staking currency increases.
