The upcoming Siacoin (SC) network upgrade and hard fork is a significant event for the ecosystem. To ensure a smooth transition, certain network operations will be temporarily paused. This article provides a comprehensive overview of what users need to know.
Key Dates and Service Impact
To facilitate the Siacoin network upgrade, deposits and withdrawals for SC and other related tokens on the network will be temporarily suspended starting June 6, 2025, at 13:00 (UTC+8).
Once the upgrade is complete and the network is deemed stable, these services will be reinstated without further announcement. If you hold SC or any related network tokens in your account, no action is required from you during this process.
Understanding the Sia Hard Fork and Upgrade
The 2025 upgrade represents a major evolution for the Sia network. In 2024, the project began a shift from the all-in-one Sia-UI application to a more modular structure with three distinct components: renterd for users uploading files, hostd for those providing storage, and walletd for Siacoin holders. This change is fundamental to the network's improvement.
The Two-Phase Hard Fork Process
The hard fork is being executed in two clear phases to ensure broad ecosystem readiness.
Phase 1: Software Release and Preparation
The first step involved the release of new, hard-fork-compatible software. By downloading and installing this update, users signal their support for the upgrade and prepare their nodes for the impending change. It is crucial to complete this step early.
Phase 2: Hard Fork Activation
The actual hard fork, which requires all users to be running v2 nodes, is scheduled for June 6, 2025, at approximately 06:00 (UTC) at block height 526,000. After this point, new blocks may contain v2 transactions, and nodes that have not been updated will be unable to sync with the network.
Notably, a grace period will be in effect where v1 blocks remain valid. This allows those who have not yet updated to still submit their transactions to miners. This grace period is set to end on July 4, 2025, at around 02:00 (UTC) upon reaching block height 530,000. All users must update their nodes before this final deadline to continue using the Sia network uninterrupted.
Important User Considerations During the Upgrade
While the network upgrade is underway, users should be aware of a few key points to manage their assets effectively.
Trading and Market Activity
Trading of SC and related network tokens will not be affected during the upgrade. You will still be able to trade these assets on spot, margin, and derivatives markets. However, it is always prudent to be aware of potential market volatility and ensure your margin accounts have sufficient collateral to mitigate any risk.
Fund Security
For the security of your assets, please avoid attempting any deposit or withdrawal transactions for SC and its network tokens during the maintenance window. Initiating such transactions while services are paused could result in delays or loss of funds.
To stay informed about the latest developments and ensure you’re using the most secure platforms, you can explore more strategies for managing digital assets during network events.
Frequently Asked Questions
Do I need to move my SC tokens during the upgrade?
No, if your SC tokens are already in your exchange account, you do not need to take any action. Your funds are safe and will be unaffected by the upgrade process.
What happens if I send SC to my exchange wallet during the maintenance?
It is strongly advised not to initiate any deposits or withdrawals during the announced suspension period. Transactions initiated during this time may fail, get delayed, or could be lost. Always wait for the official announcement that services have fully resumed.
Will the hard fork create a new coin?
This upgrade is a network enhancement and hard fork aimed at improving Sia's functionality and scalability. It is not anticipated to create a new, separate coin or token. The focus is on upgrading the existing Siacoin network.
How long will the deposit and withdrawal suspension last?
The suspension begins on June 6, 2025, at 13:00 (UTC+8). Services will be restored after the upgrade is complete and network stability is confirmed. The exact duration depends on the upgrade process but typically lasts a few hours.
Can I continue to trade SC on the exchange during this time?
Yes, trading will remain uninterrupted throughout the entire upgrade and hard fork process. Only deposits and withdrawals are temporarily suspended.
Where can I get the latest official information?
For the most current status and detailed information, always refer to the official announcements from the exchange and the Sia project development team. You can view real-time tools for tracking network status and updates.