Its time to say hello and goodbye to SONO 1.X.
Why do we need a new update before we switch?
If you have read our other blog posts then you might be wondering why we are releasing a new update to a chain that has been sentanced to die.
Well, we actually have a very good reason for it.
And its called "Hyper Inflation".
As you know we will be moving to SONO 2.0 on Monday.
For us to move all of our community, we will need to do a swap.
To allow users to be able to move their SONO 1.3 to our swap exchange, then we would need to make sure 1.3 is still active.
But by keeping 1.3 active, we will also continue the production of SONO from the old chain. This would result in up to 50.000 SONO being created extra in the swap period and this would damage the ecosystem.
We have therfore chosen to release SONO 1.4 today, as it contains a hardfork that will be activated on wednesday the 20th of June. This hardfork will reduce the PoS and PoW reward down next to nothing and will make it a bad idea to spend time and hashrate on mining/staking on the old chain.
The swap exchange will be running 1.4 from its launch and all users who remain on the 1.3 version will be kicked off on wednesday at fork time.
The hardfork is activated at block 395.700
What happens if I dont update to SONO 1.4?
As long as you swap your SONO 1.3 to SONO 2.0 before wednesday the 20th of June then you are fine. But if you try to swap on wednesday the 20th or later, then you must be running SONO 1.4 which is preprogrammed to fork on the 20th to reduce the PoS/PoW rewards.
Once the hardfork is active, it will seperate from all older 1.3 users.
This means you wont be able to deposit your old SONO onto the swap exchange and receive your new SONO 2.0.
You can download the new Linux and Windows wallet here: https://github.com/altcommunitycoin/SONO/releases