ThunderCore Hard Fork Announcement
ThunderCore recognizes that a sustainable ecosystem is vital to the viability of its network. So we are taking the necessary steps to ensure the long-term success of its stakeholders. Through the upcoming hard fork, ThunderCore will improve network efficiency and implement essential changes that will benefit all stakeholders, including staking providers, developers, partners, and the entire community.
ThunderCore’s hard fork represents a significant milestone in its mission to become the most reliable, secure, and efficient blockchain infrastructure provider. We will continue to work tirelessly towards achieving its goal of providing the most innovative and sustainable solutions to our community.
*From May 2nd, 2am to 2pm (UTC), ThunderCore mainnet will perform a hard fork, during this period PoS staking “deposit & withdraw” will be suspended.
*Block height: 131247603
The main goal of our upcoming critical hard fork is to achieve following goals,
PoS upgrade
In Proof of Stake (PoS) blockchain like ThunderCore, nodes with a certain amount of cryptocurrency, called a “stake”, are selected to validate transactions and create new blocks. Moving assets into running nodes refers to the process of transferring cryptocurrency holdings to a node that is active and participating in the validation process, as opposed to a node that is offline or inactive.
By staking their assets, node operators have a financial incentive to maintain the integrity of the network and follow the consensus rules.This helps to secure the blockchain and prevent fraudulent activity, such as double-spending.
In this upcoming hard fork, ThunderCore will transfer the remaining assets to active running nodes. This move will protect current validators from being affected by a sudden influx of assets from new validators. Additionally, we have addressed the key management issue, which will enhance the security of the node-running process for all validators.
Effect
ThunderCore PoS Staking will increase the staking ratio, which will contribute to greater decentralization.
The upgrade of key management can improve the security issue which benefits exchange and staking providers.
RNG Adjustment
Unlike the practices from other blockchain that the RNG is generated either by off-chain oracle or Ethereum 2.0: Randomness, ThunderCore’s RNG is considered fast, secure and trustworthy. It is built into a chain node with a pre-compiled contract and the Proposer reads 256 bits of random values using Golang’s crypto/rand. With the MixDigest block header field combined with a counter and fed into a cryptographically secure hash function to produce the trusted RNG output.
Following the hard fork, ThunderCore Lab will be adjusting the gas fee for the Random Number Generator (RNG) pre-compiled smart contract. As RNG is a popular and high-demand infrastructure on ThunderCore blockchain, this adjustment is expected to increase gas fee revenue. The ThunderCore team plans to direct the increased revenue generated from the adjusted RNG gas fee towards staking additional $TT in the ThunderCore PoS staking system. This move will help to promote the sustainability of the ecosystem.
Effect
This move will increase the $TT total supply staking ratio and promote positive growth within the ecosystem.
To sum up, ThunderCore’s focus is on achieving sustainable growth by maintaining a balance between blockchain technology, infrastructure, developers, users, and partners. The upcoming hard fork is aimed at ensuring the longevity of the ThunderCore platform. We will keep you informed about our ongoing efforts to promote sustainability and long-term growth of the entire ThunderCore ecosystem.
About ThunderCore
ThunderCore is a powerful and ultra-fast Web3 ecosystem and layer-1 chain that delivers elite performance and cost-effective scalability for thousands of crypto projects. Its proof-of-stake (PoS) architecture and strong developer support provide a battle-tested home for the next generation of crypto builders to create in Web3, DeFi, NFTs, GameFi, and the metaverse with limitless scope.
The growing ThunderCore ecosystem is powered by its popular native asset, TT, which can be stored in the feature-rich TT Wallet, together with other supported project assets.
ThunderCore’s breakthrough consensus protocol “PaLa” overcomes the scalability “trilemma,” helping the ThunderCore network generate up to 4,000 transactions per second (TPS) with sub-second confirmation times and ultra-low gas fees at a fraction of a cent.
Created in 2017 by Silicon Valley tech entrepreneur Chris Wang to help solve Ethereum’s scalability issues, ThunderCore has an international user base that spans over 100 countries. It measured over 500,000 monthly active users in December 2021, making it one of the most actively used chains in the world, according to DappRadar.
Institutional investors in ThunderCore include MetaStable, Hashed, Electric Capital, Huobi Capital, Pantera, Zhen Fund, Kenetic Capital, Arrington XRP, Capitaland, and Draper Dragon, among others.
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