Search Inside Bitcoins

Beam Will Execute Its Second Hard Fork This June

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.


Join Our Telegram channel to stay up to date on breaking news coverage

Beam, a privacy coin with a proof-of-work consensus algorithm, will execute its second hard fork on June 28th of this year, according to a blog post.

During this fork, the algorithm will change from BeamHash II to BeamHash III. We’re unsure about the details, though the project should reveal them soon.

On top of this, the group will activate support for confidential assets, lelantus mimblewimble, and one-sided payments, the post notes.

Then, the wallet, Eager Electron, will hit 5.0 alongside the node and the miner. All of this should release at the end of May so users have around 30 days to upgrade.

From there, iOS and Android wallet versions will release.

“The binaries will support the current blockchain,” continues the post. “And will automatically switch to the new consensus mechanism when the target block height is reached. No user intervention will be required. Funds will not be affected.”

This fork will occur at block height 777777, and from there, wallets earlier than 5.0 will cease to work.

Beam claims to be working with miners to make the transition to 5.0 as seamless as possible.

Recently, Beam announced that it had found a “critical vulnerability” in Mimblewimble’s cryptocurrency wallet, as InsideBitcoins has previously reported on.

Join Our Telegram channel to stay up to date on breaking news coverage

Read next