Loki Hardfork Upcoming: Summer Sigyn
Following the upgrade in November 2018 to version 2.0.0 – Festive Freya, the privacy network Loki has published details of their latest hard fork, Summer Sigyn, a mandatory upgrade and algo change which will take place on 20 March 2019.
Loki builds a protocol layer on top of incentivised on-chain nodes that will then run off-chain service node applications (SNApps) such as messaging. It is anticipated that hardforks will continue every 3 months into 2020 in order to incrementally release the necessary updates.
The Summer Sigyn upgrades to the network include:
- Infinite Staking
- New GUI
- Removed Staking requirement tail
- Change of PoW to combat Nicehash, FPGAs and possible ASICs
- Rotation of Governance Keys
Testing for Summer Sigyn is currently underway and the mandatory upgrade period will start on 10 March 2019 with the hardfork itself scheduled for 20 March 2019.
Loki is primarily working to allow routing in a decentralised and trustless way by connecting multiple and random computers together which will each only know where a packet of data has come from and where it is going to next within the overall route.
In their Company Update published on 09 January 2019 it was confirmed that three new developers were recently hired, two were deployed on Lokinet, which is now able to stream YouTube videos, and the third on Loki Messenger.
The project has also recently warned against the use of Service Node Pools and One click Service Nodes and encouraged users to run their own Service Node instead of relying on someone else.
The Summer Sigyn announcement advises their infinite staking upgrade will increase network stability and increase the total node count over time by making the staking requirement static and allowing Service Node operators to keep their nodes running indefinitely rather than having to reset them every month.
The Rotation of Governance Keys provides keys to the new Board of Directors of the Loki Foundation and also serves to reduce the risk of long term key exposure.
Other updates include updating the GUI to an Electron RPC based GUI wallet that is faster and less buggy and a Proof of Work algorithm change. The algorithm change is to combat a large amount of hashrate recently appearing from an unknown source, suspected to be linked to FPGA miners or possibly the rumoured, although as yet unconfirmed, CryptoNight ASIC.
The next scheduled hardfork is set to bring in Lokinet/Messenger and mitigate 51% attacks with Service Node Checkpointing.