Introducing Lisk Mainnet V3 Migration

Lisk announced the migration of v3 after the successful migration of Lisk Testnet v3. The migration of Lisk mainnet v3 shall take place at the block height of 16,301,501 that will be attained on around 24th August. At present, every product dependency of Lisk, which includes Lisk Core 3.0.0, Lisk Migrator 1.0.0, Lisk Desktop 2.0.0, and Lisk Service 0.4.0, are all set for production. After migration, Lisk Mainnet v3 shall improve the performance and present an impressive range of protocol features. Lisk is also looking forward to implementing the innovative interoperability solution soon after the migration.

The wallet and exchange providers associated with Lisk need to stop depositing and withdrawing funds during the migration period of Lisk Mainnet v3 to make sure that there is no loss of funds. The migration will not occur immediately as the full node has to wait for the acquisition of 201 additional blocks upon attaining the required block height for extra security. After the expiry of the waiting period, there will be a snapshot taken of the Lisk Mainnet v2 blockchain. This snapshot will provide the information necessary to create a new genesis block at the Blockchain of Lisk Mainnet v3.

The exact time of migration depends on the current conditions of the mainnet and is directly proportional to the rate of creation of new blocks. The migration shall enable the operation of every protocol improvement that includes the Lisk SDK 5.1.0, 4.0.0, and 3.0.0 at the Lisk Mainnet. The selection of delegates at the pre-migration stage shall continue to the block height of 16,363,301, which will take around a week to succeed the Lisk Mainnet v3 migration. The delay in transition shall ensure the network’s accurate performance concerning modifying the mechanism of delegate selection.

The selection of delegates at the pre-migration stage shall persist for about a week or so. In this period, the current delegates of the Mainnet need to upgrade the full node to the Lisk Core version 3.0.0 to continue with the creation of new blocks after the migration of Lisk Mainnet v3.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button