Cryptocurrency news

Beam developers will hold the second hard fork on June 28

Beam developers will hold the second hard fork on June 28

Developers of the anonymous Beam cryptocurrency have planned a second hard fork on June 28 to update the PoW algorithm from Beam Hash II to Beam Hash III.

Beam management reported that the hard fork will occur on the 777 777 block. The new algorithm will support anonymous assets, one-way payments, and activation of the Lelantus Mimblewimble Protocol for transactions with a high level of confidentiality. In addition, BeamHash III will allow you to maximize the power of GPU miners.

Advisor To Beam The Guy With Measles (Guy Corem) notified users that the test version of the hard fork will be presented a few weeks before the launch in the main network, it depends on the time of block generation. Beam plans to release node and Desktop Wallet binaries by the end of may. As soon as possible, the version of Eager Electron 5.0 will appear to automatically switch to the BeamHash III algorithm when the corresponding block height of 777777 is reached, so that the hard fork will pass for miners “painlessly”.

Users are recommended to update the software to version 5.0. earlier versions of the Beam wallet will stop working after the hard fork, but users will still be able to update their wallets to access their coins.

Recall that the first Beam hard fork was held on August 15, 2019 on block 321 321, and more than a year ago, the developers of Beam discovered a critical vulnerability in the software of the cryptocurrency wallet. In November last year, the Dragonfly Research group conducted a security analysis of the Mimblewimble Protocol, which found that up to 96% of transactions in the Grin blockchain are vulnerable to the possibility of disclosure of senders and recipients.