SiaCoin (SC) Blockchain Upgrade Aims To Combat Centralization Of SC Mining

Yesterday, October 31st, Sia successfully implemented the v.1.3.7 upgrade on its network to the height of block 179,000. With it, Sia has blocked the ASIC equipment manufactured by Bitmain and Innosilicon from mining on its blockchain. The crypto exchanges Binance, Poloniex, Bittrex, and UPbit, have confirmed their support for this SiaCoin (SC) fork.

Sia team indicated on its Twitter account that Bittrex, Poloniex, Binance, and UPbit successfully installed the update. Other exchanges that have been shown in favor of this update are HitBTC, Lbank, Vebitcoin, Bitbns, and Okex. Users who own SiaCoin (SC) on these platforms will have access to the new blockchain.

The team will give flexibility to people who store their files on the Sia platform to upgrade to the new Sia network. However, all hosts who have not updated to the new version will no longer offer hosting services to users who have upgraded to the new Sia blockchain. For SiaCoin (SC) mining, Obelisk will enable a firmware update that will comply with the new algorithm that introduces this fork.

SiaCoin (SC) Blockchain Upgrade Aims To Combat Centralization Of SC Mining

In September, SiaCoin (SC) developer David Vorick announced the arrival of a hard fork in the Sia network to end Innosilicon’s monopoly on the hashrate. The fork established Obelisk as the only authorized ASIC miner for SiaCoin (SC).

However, the Sia blockchain v 1.3.7 upgrade caused controversy in the SiaCoin (SC) community, leading to the creation of two new projects from the previous network. The first of them was called SiaClassic which stated that “there should be no discrimination regarding the ASIC miners.” For SiaClassic, the main concern is the loss of thousands of US dollars in SiaCoin (SC) mining equipment.

For its part, the other resulting currency, SiaPrime, said that it could be mined by all miners, including Innosilicon, Halong and Bitmain. The developers of this cryptocurrency announced that its blockchain is already operational. According to CoinMarketCap, SiaCoin (SC) has registered only a 2.56% drop yesterday and official statistics indicated that in the last 24 hours the hashrate of the Sia network is 75.46 PH/s and the difficulty is 45.63 EH, lower than usual.

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About the Author: Anna Galvez

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