How to calculate the time of the hard fork?
Electra (ECA) is going to do the hard fork on block 112,000.
You can estimate the approximate time by the following:
At the time of writing, we are at block No. 109,642. A new block is generated every 5 minutes.
112,200 - 109,644 = 2,556 (blocks left until fork)
2,556 x 5 (min blocktime) = 12,780 (minutes)
12,780 : 60 = 213 (hours)
213 : 24 = ~ 8,87 (days)
So the hard fork will happen around the 30th September 2018!
What do I need to do?
In the following days the Electra team will release new wallet versions for both - the QT-Wallet and the Desktop-Wallet.
Make sure you have installed the new version once they get released.
You can take a look at their announcements on their Twitter page.
What will the fork change?
The fork will bring some important and major changes:
- Reducing Proof-Of-Stake Rewards (currently high - 50% annually)
- Reducing block time to 2.5 minutes
- Security Patches
- Reducing maximum staking time to 30 days
- Setting minimum maturing time to 12 hours
These changes are very important.
Especially, the reducing of the block reward is important, because at the moment many whales get huge rewards for staking, which they are selling for a low price.
That's one of the reasons why the Electra price is that low yet.
If you want to find out more about Electra (ECA) feel free to visit their website!.
You can also take a look at their whitepaper.
If you want to find out the current block, take a look at their blockchain explorer.
ECA is a very interesting investment. Especially when you take a look at what is planned for the future.
Maybe you should take a closer look at this huge, community driven project!
But please keep in mind to do your own research. This is NOT and investment advice!
Feel free to ask me everything you want to know about Electra (ECA) in the comments.
Have a nice weekend!