Zcoin first announced about implementing MTP (Merkle Tree Proof) system to its algorithm back in December 2016. Zcoin was working on it back then. But now, exactly after 2 years Zcoin is all set to switch their algorithm from POW to MTP. Zcoin intends to be the first cryptocurrency project to implement MTP.
Zcoin has started the transition to switch their algorithm from Proof-of-work (POS) to Merkle Tree Proof (MTP) with the release of its version 0.13.7.1. The hard fork is set to occur on 10th
December 2018 at 12:00 UTC after which blocks mined with old Lyra2z algorithm will be rejected.
Depending on the category you belong to, you must do the following:
First, all must make sure that they have a fresh backup of their wallet. To do this, navigate to File > Backup Wallet… and save the file to a secure location.
Zcoin client versions older than 0.13.7.1 will stop working after the hard fork. Therefore, users must upgrade to latest version before 10th
December. An in-between maintenance release can be expected to improve Znode reliability and streamline Exodus code.
Znode owners will stop receiving block rewards after 10th
December 2018 if they haven’t upgraded to latest client version 0.13.7.1. With the latest version release, the upgrade process for Znode is slightly different. Visit https://zcoin.io/znode-upgrade-guide/
for detailed information on the same.
A ccminer-based reference implementation for a miner provided by Zcoin can be found here https://github.com/zcoinofficial/ccminer
. CPU miner is still in development and will be available soon. First ever MTP mining pool on testnet is being run by MintPond who has created all sorts of helpful codes for MTP proof.
Exchanges and trading platforms must upgrade to latest client version 0.13.7.1 before December 10th
More information about MTP algorithm and its hard fork can be found at https://zcoin.io/blog/