SVM Testnet : 80K Blocks Reached, Proposal 2 LIVE & v0.0.4 Upgrade Scheduled!
Hi everyone
Following up on my recent SVM Summary So Far, I am thrilled to report that the Steem Virtual Machine (SVM) testnet continues to operate with exceptional stability, performance, and consensus reliability.
We have hit another major milestone, and our governance roadmap for the next coordinated network upgrade is now officially LIVE. Here is the latest status of the network.
Network Health & Current Metrics
The SVM testnet is running flawlessly. The combination of our optimized validator setup scripts and the robust Cosmos SDK foundation has resulted in a highly resilient network.
Current Testnet Statistics:
- Total Blocks Produced: 80,000+
- Total Transactions: 3,069
- Active Validators: 11 / 11 (100% of the active set is online and signing)
- Average Block Time: ~5.3 seconds
Reaching 11 out of 11 active validators is a fantastic milestone. It proves that our decentralized consensus mechanism is functioning exactly as designed, with zero downtime and consistent block production.
Governance Update: Proposal 2 is LIVE for Voting!
As discussed in previous security updates, preparing the network for the v0.0.4 upgrade is our top priority. This upgrade integrates critical security patches and essential feature enhancements.
I am pleased to announce that Proposal 2 is now LIVE and open for voting!
Vote on Proposal 2 here: SoftwareUpgrade
The Upgrade Strategy: Block 129,370
To ensure a seamless, coordinated, and state-breaking upgrade across all nodes, the proposal schedules the network halt and upgrade at Block Height 129,370.
This is approximately 3 days away (targeting ~2026-09-02 00:07 UTC), giving all validators a clear, predictable timeline to prepare.
What is included in the v0.0.4 Upgrade?
This is a critical maintenance and feature release. The upgrade includes:
cosmos/evm v0.7.2Security Patch: Remediation of the recently disclosed EVM module vulnerabilities.cosmos-sdk v0.54.4Security Patch: Upstream core framework security improvements.- Withdrawal-Payout Enforcement: Stricter validation and enforcement of asset types and amounts during bridge withdrawal payouts.
- CoinGecko Price-Source Support: Expanded oracle capabilities to natively support CoinGecko as a reliable price feed source.
(Full technical details and step-by-step upgrade instructions are available in the repository: Instructions/UPGRADE_v0.0.4.md)
Voting Deadline
Voting ends on: 2026-09-01 05:55:10
Please cast your vote well before this deadline to ensure the upgrade is authorized and scheduled correctly.
Action Items for Validators
If you are currently running an SVM testnet validator, please take the following steps immediately:
- Vote YES on Proposal 2: Use the CLI or SVM Scan to cast your vote and ensure the upgrade is authorized.
- Read the Upgrade Guide: Review
Instructions/UPGRADE_v0.0.4.mdin the GitHub repository to understand the exact commands and binary changes required. - Prepare
cosmovisor: Ensure your node is configured to automatically handle the binary swap at block 129,370. - Keep Nodes Synced: Monitor your node to ensure it remains fully synced and healthy leading up to the upgrade block.
⚠️ Testnet Disclaimer
Important Reminder: The Steem Virtual Machine (SVM) is strictly in its testnet phase. All bonded STEEM, transactions executed, and tokens generated are purely for testing the consensus and EVM execution layers. There is no real-world monetary value attached to this chain or its assets.
Recent SVM Resources
If you are catching up on the SVM development journey, here are the key references:
- SVM Summary So Far - My previous comprehensive overview of the project's progress.
- Cosmos EVM Security Update: Patches Released - The technical breakdown of the vulnerability and the path to the v0.0.4 patch.
- How to Set Up a Brand-New SVM Validator - The automated guide for new node operators.
Thank you to all 11 active validators for your dedication, uptime, and commitment to securing the SVM testnet. Your participation is what makes this ecosystem robust and ready for the future.
If you value proactive engineering, transparent development, and rigorous security standards for the STEEM ecosystem, please consider supporting my witness: blaze.apps