Crown has reached an important milestone in their development by launching Crown Core v.0.13.0, codename, Jade. The recent release which requires a mandatory upgrade features 2 core changes:

  1. A switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus
  2. New address prefixes

The move to switch from PoW to PoS is in sync with shifting the block generation process to stakers instead of miners, a more computationally intensive process. Crown’s PoS consensus combines a network of masternodes and systemnodes. The collateral balance of a user will be delegated to a masternode or systemnode. The minimum balance which can be staked is 500 coins.

Talking about new address prefixes, up until now, Crown still uses the same address format as Bitcoin, being a fork of Bitcoin. The downside of this is that Crown cannot work on hardware wallets like Trezor and Ledger.

Jade will be introducing new prefixes to the address format. A sample wallet address will now look like this: CRWPq34agB78… for mainnet and tCRWzPk89… for the testnet.

As earlier stated the switchover is mandatory and will happen at block height 2,330,000 about 2 weeks after the release of Jade. Nodes that fail to upgrade before or at block height 2,327,000 will be cut off from the network.