Dock’s Proof of Stake Mainnet Will Go Live On July 7th 2021

Dock Network was thrilled to  to announce that Dock’s mainnet will transition to a Proof of Stake (PoS) network on July 7th, 2021 at 1pm GMT. This transition will further decentralize the Dock blockchain by basing validator selection on the amount of tokens staked by validators and token holders, and introducing a new governance structure that allows anyone with Dock tokens to vote on proposed changes to the network.

This transition also comes with a change in the network’s consensus algorithm, from Aura to BABE and this will require starting a new chain that runs the BABE algorithm.

Following steps are taken to minimize the impact of creating a new chain on Dock Network users:

• The new chain’s genesis block will preserve the state (accounts with balances, DIDs, schemas, etc.) of the existing Proof of Authority (PoA) mainnet.
• They  will retain the history of the PoA mainnet blocks and have it publicly available on a separate explorer, whose link will be shared soon after the new chain is launched.

The upgrade to PoS will involve stopping the block production on the existing PoA mainnet, exporting the state of the PoA network, and starting the new PoS chain that preserves the PoA network’s state.

ABOUT DOCK NETWORK
Dock.io is a decentralized professional network powered by Ethereum, an open-source, public, blockchain-based distributed platform that allows smart contract functionalities. Dock.io emphasizes users’ privacy and control over their professional data to align users’ interests with third-party applications.

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