Test of participation, or PoS (Proof-of-Stake), Qtum blockchain successfully completed the hard branching of its test network, preparing for the launch of the hard branching on its main network.
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According to a statement sent to Cointelegraph, the update was released on the test network in block 625,000 on June 29. This event officially introduced offline staking in Qtum.
The hard branching of the main network will take place in August or in block 680,000
The network test event, scheduled to begin on July 6, is the last phase before Qtum launches the main network branch. This is expected to happen on August 28, 2020, or at a block height of 680,000.
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At the time of this publication, Qtum claims that over 300 network members have earned almost 1,000 QTUMs through staking.
Details provided by the company:
„Offline staking is one of the biggest changes in the Qtum protocol to date. So far, Qtum has allowed the consensus of Proof-of-Stake only from online nodes that secure and operate the blockchain. As a result, Bitcoin Loophole holders who did not want to run a full node, had security issues or struggled to meet resource and power requirements, could not participate in the staking.
Patrick Dai, co-founder of Qtum, said that a staking marathon in the test network will give blockchain enthusiasts the opportunity to become familiar with concepts such as super stakers, delegation of leadership, „and how easy it can be to participate in the consensus of a global network. He also added:
„This will empower the community to perform the same tasks in a realistic environment when the main network branch is activated at the end of August, bringing off-line staking to the Qtum ecosystem.
Democracy and security on the network
Qtum claims that offline staking will help increase participation in the staking process. This will help democratize the network and make it more distributed and secure.
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Cointelegraph previously reported that, Qtum, went through its first fork in the road on October 27, 2019. This bifurcation occurred in Block 466,000, updating the Qtum network to enable a number of significant features, including smart contracts and block space improvements.