Nimiq Proof-of-Stake Release Candidate is Here!

Nimiq launched in 2018 with a Proof-of-Work (PoW) algorithm that utilized NiPoPoWs, enabling browsers to act as peers in the blockchain network—a major leap forward in decentralized payments. But that was just the beginning. Following the successful launch of the Nimiq PoW Blockchain, the Nimiq team, together with its community began working on the future transition to Proof-of-Stake.

The Nimiq community has been testing the PoS Testnet for over 19 months since its original release. The PoS Testnet has undergone a private code audit by HackerOne and currently has an active Public Bug Bounty Program running. You can find the full migration plan, detailing the various phases, in this blog post. After completing a successful validator registration phase, Nimiq is now in the Pre-Staking phase. Once Pre-Staking concludes, the final phase of the migration—called the activation phase—is expected to begin on November 19 2024, when block #3 456 000 on the PoW mainnet chain is mined. The Testnet has also been used to simulate the activation process with the help of community developers.

After extensive testing, security improvements, and optimizations, the Testnet has now met the necessary criteria to be considered a Release Candidate by the Nimiq Core Team. This milestone follows the recent publication of the ZKP Ceremony Results and aligns with the migration process outlined in our previous blog post.

For those eager to dive in, you can find the release candidate code here. Keep reading if you’d like more details on this release, validator registration, the Pre-Staking campaign, and key migration dates.

Release Candidate Criteria

Nimiq's core team has determined that, among other security and performance criteria, the Testnet must undergo continuous stress testing at maximum capacity, conducted in intervals of one week. While this scenario is unlikely under normal conditions, it provides a solid basis for analyzing the Nimiq PoS Blockchain Network under heavy load.

A detailed technical discussion is beyond the scope of this blog post. Developers interested in more information about the Release Candidate are welcome to join our join our Telegram or Discord groups, where we have a dedicated channel for developers.

Next Steps for the Release Candidate

The Testnet will continue to undergo rigorous testing by the development team and the Nimiq community. This includes additional stress tests, vulnerability assessments, and performance evaluations. However, this announcement marks a shift from development and feature additions toward migration preparation and fine-tuning.

What’s Next

Our immediate priorities are further testing, promoting the Pre-Staking Campaign, and improving documentation. With 200 million NIM in rewards, the Pre-Staking campaign is an excellent opportunity for newcomers to get involved with Nimiq before the network officially migrates to Proof-of-Stake.

To boost visibility, we are organizing X Spaces and YouTube videos featuring key figures in the crypto space. These efforts will highlight the Pre-Staking campaign, the upcoming migration to PoS, and the broader Nimiq project.

Stay tuned to Nimiq's social media channels, and help us spread the word throughout the crypto community. Thank you for your continued support—Proof-of-Stake is just around the corner, and now is the time to let everyone know!

Pura Vida,
Team Nimiq