The popular cryptocurrency Siacoin received support from major crypto exchanges after its hard fork. SIacon (SC) has prepared for a hard fork that took place at block 179,000. Some hours ago, Sia was able to successfully implement its v.1.3.7 upgrade on its network. This update will block ASIC equipment manufactured by Bitmain and Innosilicon to work on its blockchain. There are some exchanges that have confirmed their support for the Siacoin fork.
Siacoin Implements New Network Upgrade
Sia was able to implement a new upgrade on its blockchain network. Miners from two of the most popular crypto mining hardware producers will not operate anymore with Siacoin. Binance and Innosilicoin ASIC miners will be blocked from mining on Siacoin’s blockchain network.
We just released Sia v1.3.7 to fix a difficulty adjustment issue with the upcoming October 31 hard fork. This is a required update to remain on the Sia network, and replaces the previous v1.3.6 update. Download at https://t.co/WLp6GHfhkU pic.twitter.com/Aa0jVeJ58i
— Skynet Labs (@SkynetLabs) October 22, 2018
Siacoin received an important support from several exchanges, including Bittrex, Poloniex, Binance and UPbit. These companies have already implemented the latest update. Furthermore, other platforms have also mentioned that will be supporting Sia’s new upgrade. These platforms are HitBTC, Lbank, Vebitcoin, Bitbns and OKEx. Users that already have coins in these exchanges will be able to have access to the new chain.
One of the exchanges, OKEx, announced on the matter:
“We will support the hard fork of Siacoin (SC) and will take a snapshot of all OKEx accounts at the block height 179,000. To support the hard fork, we already suspended the withdrawal and depositing of Siacoin at 04:00 Oct 31, 2018 (CET).”
The decision taken by Siacoin aims at combating centralization of SC mining. David Vorick, a Siacoin developer, informed that the hard fork was going to take place. Furthermore, the hard fork establishes Obelisk as the only authorized ASIC miner ready to work with Siacoin.
Clearly, the decision taken was not easy. The community decided to create two new projects from the older network. One is known as SiaClassic and the other is known as SiaPrime. SiaClassic says that there should be no ASIC discrimination. SiaClassic is concerned about the dollars lost in Siacoin mining equipment. SiaPrime, instead, said that the cryptocurrency could be mined by all miners.
At the time of writing, Siacoin is the 37th most valuable virtual currency in the market. Each coin can be bought for $0.0065 dollars and it has a market capitalization of $245 million dollars.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
