diff --git a/src/block_template.cpp b/src/block_template.cpp
index b453873..22ec36e 100644
--- a/src/block_template.cpp
+++ b/src/block_template.cpp
@@ -646,7 +646,7 @@ void BlockTemplate::update(const MinerData& data, const Mempool& mempool, const
 
 	// Layout: [software id, version, random number, sidechain extra_nonce]
 	uint32_t* sidechain_extra = m_poolBlockTemplate->m_sidechainExtraBuf;
-	sidechain_extra[0] = 0;
+	sidechain_extra[0] = static_cast<uint32_t>(SoftwareID::P2Pool);
 #ifdef P2POOL_SIDECHAIN_EXTRA_1
 	sidechain_extra[1] = P2POOL_SIDECHAIN_EXTRA_1;
 #else
diff --git a/src/p2p_server.cpp b/src/p2p_server.cpp
index 97d5d5f..e6f87f7 100644
--- a/src/p2p_server.cpp
+++ b/src/p2p_server.cpp
@@ -1081,6 +1081,7 @@ void P2PServer::on_timer()
 	update_peer_connections();
 	check_host();
 	check_block_template();
+	check_for_updates();
 	api_update_local_stats();
 }
 
@@ -1255,6 +1256,21 @@ void P2PServer::check_block_template()
 	}
 }
 
+void P2PServer::check_for_updates() const
+{
+	if (m_timerCounter % (3600 / m_timerInterval) != 0) {
+		return;
+	}
+
+	const SideChain& s = m_pool->side_chain();
+
+	if (s.precalcFinished() && s.p2pool_update_available()) {
+		LOGINFO(0, log::LightCyan() << "********************************************************************************");
+		LOGINFO(0, log::LightCyan() << "* An updated P2Pool version is available, visit p2pool.io for more information *");
+		LOGINFO(0, log::LightCyan() << "********************************************************************************");
+	}
+}
+
 P2PServer::P2PClient::P2PClient()
 	: Client(m_p2pReadBuf, sizeof(m_p2pReadBuf))
 	, m_peerId(0)
diff --git a/src/p2p_server.h b/src/p2p_server.h
index 1006c60..90f46c9 100644
--- a/src/p2p_server.h
+++ b/src/p2p_server.h
@@ -198,6 +198,7 @@ private:
 	void download_missing_blocks();
 	void check_host();
 	void check_block_template();
+	void check_for_updates() const;
 	void update_peer_connections();
 	void update_peer_list();
 	void send_peer_list_request(P2PClient* client, uint64_t cur_time);
diff --git a/src/side_chain.cpp b/src/side_chain.cpp
index b0feaf9..e571ab1 100644
--- a/src/side_chain.cpp
+++ b/src/side_chain.cpp
@@ -1304,6 +1304,30 @@ bool SideChain::get_difficulty(const PoolBlock* tip, std::vector<DifficultyData>
 	return true;
 }
 
+bool SideChain::p2pool_update_available() const
+{
+	constexpr uint32_t version = (P2POOL_VERSION_MAJOR << 16) | P2POOL_VERSION_MINOR;
+
+	difficulty_type total_p2pool_diff, newer_p2pool_diff;
+	{
+		ReadLock lock(m_sidechainLock);
+
+		const PoolBlock* cur = m_chainTip;
+
+		for (uint64_t i = 0; (i < m_chainWindowSize) && cur; ++i, cur = get_parent(cur)) {
+			if (cur->m_sidechainExtraBuf[0] == static_cast<uint32_t>(SoftwareID::P2Pool)) {
+				total_p2pool_diff += cur->m_difficulty;
+				if (cur->m_sidechainExtraBuf[1] > version) {
+					newer_p2pool_diff += cur->m_difficulty;
+				}
+			}
+		}
+	}
+
+	// Assume that a new version is out if >= 20% of hashrate is using it already
+	return newer_p2pool_diff * 5 >= total_p2pool_diff;
+}
+
 void SideChain::verify_loop(PoolBlock* block)
 {
 	// PoW is already checked at this point
diff --git a/src/side_chain.h b/src/side_chain.h
index e5dc0bb..a0e1dd3 100644
--- a/src/side_chain.h
+++ b/src/side_chain.h
@@ -82,6 +82,8 @@ public:
 	const PoolBlock* chainTip() const { return m_chainTip; }
 	bool precalcFinished() const { return m_precalcFinished.load(); }
 
+	bool p2pool_update_available() const;
+
 #ifdef P2POOL_UNIT_TESTS
 	difficulty_type m_testMainChainDiff;
 	const unordered_map<hash, PoolBlock*>& blocksById() const { return m_blocksById; }