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GiantCore Mandatory Update 1.4


We've been working long enough on this release to ensure the network stability and to prepare the testnet for the future smart contracts testing. However, the collateral change and introduction of the 2-tier masternodes are the most important part of this release if you are a user. We did our best discussing and explaining the causes, so please learn the previous posts if you have some concerns.

After the block 368900 (Thursday) Giant masternodes require 5k GIC collateral. Supernodes act as masternodes and require 20k GIC. The rewards ratio is based on the collaterals ratio:

Masternodes - 1.6 GIC Supernodes - 6.4 GIC

To prevent the network stuck we do it in 3 phases:

  • You have to update your wallets and masternodes before the block 368200 (approx. Wednesday 10/23/19 10 pm GMT). Only 1k masternodes receive rewards;
  • 5k masternodes and 20k supernodes start receiving rewards. 1k masternodes continue doing so in case there are no supernodes in the queue.
  • After the block 368900 1k masternodes become disabled.

This is what you are going to do:

  1. On your VPS run the script: bash <( curl https://raw.githubusercontent.com/GiantPay/GiantMasternodeSetup/master/GiantMasternodeClearAndUpdate.sh )

It clears the datadir foulder except the masternode.conf and wallet.dat files and downloads the new sofrware

Notice: it works only if you haven't changed the standard path. Otherwise, you have to update the script

  1. To update your wallet you need to delete everything from the datadir foulder except the masternode.conf and wallet.dat files, download and run the new wallet.
  2. Open the masternode page and start masternodes
  3. Wait for the block 368200
  4. Create a UTXO of 5k or 20k GIC
  5. Update the masternode.conf file using the guide

Linux wallet is available here:

  • Win and Mac OS wallets are expected to be released tomorrow
  • Explorer is under maintainence
  • Deposits and withdrawals on exchanges will be activated once the transition is completed.

Thank you! Stay tuned