The Siacoin (SC) network is undergoing a major upgrade and hard fork in 2025, and leading exchanges like OKX are taking steps to ensure a smooth transition for users. This guide covers everything you need to know about the upgrade process, important timelines, and how it may impact your SC holdings.
Key Dates and Service Updates
To facilitate the Siacoin network upgrade and hard fork, OKX will temporarily suspend deposits and withdrawals for SC and other related network tokens starting at 13:00 (UTC+8) on June 6, 2025.
Once the upgrade is complete and the network is stable, OKX will resume deposit and withdrawal services for SC and related tokens. No separate announcement will be made at that time.
If you hold SC or any related network tokens in your OKX account, no action is required from your side.
Important Considerations During the Upgrade
It’s important to note that trading of SC network tokens will not be affected during the upgrade. However, users should remain cautious of potential risks associated with spot, margin, and derivatives trading involving these tokens. It is advisable to add sufficient margin in advance to minimize risk.
For the safety of your funds, please avoid making any SC or related token deposits or withdrawals during the upgrade period.
Understanding the Sia Hard Fork
The Sia network is being restructured into three distinct applications to improve functionality and user experience:
- renterd: For users who upload files (renters)
- hostd: For those providing storage space (hosts)
- walletd: For Siacoin holders
If you use any of these functionalities, you will need to download and install each application separately. Note that older interfaces like Sia-UI and Sia-Usiad are now deprecated and will no longer receive updates.
Phase 1: Software Release
The hard fork is a multi-phase process. The first step requires users to update to a hard-fork-compatible version to signal their support. By downloading this update, you are indicating that you are prepared for the hard fork, even before it officially occurs.
Phase 2: Hard Fork Activation
The actual hard fork—the point at which you must be running a v2 node—is scheduled for later in 2025. Given the size of the Sia ecosystem, adequate time is being provided for all participants—including exchanges, miners, pools, web wallets, and other integrations—to update their systems.
The hard fork is set to activate at approximately 06:00 (UTC) on June 6, 2025, at block height 526,000. After this point, blocks may include v2 transactions. If your node is not updated, you will be unable to sync with the network. This update enables most of the new v2 features, though v1 blocks will remain available during a grace period, allowing those who are behind to submit their transactions to miners.
This grace period will end at approximately 02:00 (UTC) on July 4, 2025, when the network reaches block height 530,000. You must update before this date to continue using Sia.
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Frequently Asked Questions
Q: Do I need to move my SC tokens during the upgrade?
A: No. If you hold SC in your OKX account, no action is required. Your funds remain safe.
Q: Will SC trading be affected?
A: Trading will continue as usual on OKX. However, be aware of potential market volatility during the upgrade.
Q: What happens if I send SC to OKX during the upgrade?
A: Deposits and withdrawals are suspended during the upgrade window. Any transactions attempted during this time may be lost. Always check official announcements before moving funds.
Q: How long will deposits and withdrawals be suspended?
A: Services will resume once the network is stable after the upgrade. There is no fixed timeline, but updates will be provided if necessary.
Q: What is the difference between v1 and v2?
A: v2 introduces a modular architecture with separate apps for renting, hosting, and wallet functions, improving both performance and security.
Q: Is the hard fork mandatory?
A: Yes. To continue using the Sia network after the grace period ends on July 4, 2025, you must update to the v2 node software.
Staying informed and prepared is the best way to navigate network upgrades smoothly. For ongoing updates and detailed guides, always refer to official exchange and project channels.