Waves Node: Major Update

in cryptocurrency •  2 years ago 

Waves Node: Major Update

This release sees a number of significant developments, including data transactions, Fair PoS, token burning and sponsored transactions.

Data Transactions

Data Transactions allow anyone post information to the blockchain. The maximum size of a data transaction is around 140kb. Fees for data transactions, calculated in WAVES, are proportional to transaction size: 100,000 per kilobyte, rounded up to the nearest kb. Since the transaction size is limited to 140kb, it will cost just 0.14 WAVES (less that $1). You can find out more about Data Transactions here: https://docs.wavesplatform.com/technical-details/data-transaction.html

Fair Proof of Stake

This is an update to our PoS system that removes some of the disadvantages for smaller miners. Whilst PoS should allow anyone to receive mining rewards in proportion to their WAVES balance, in practice the odds are stacked in favour of larger miners, who create a higher share of blocks. The protocol has been adjusted to reflect this and ensure that smaller miners are not pushed out.

Burn transactions for all

Any user can now burn tokens, which means destroying them by making cryptographically unspendable. This allows users who received spam tokens to remove them from their portfolios permanently.

The aсtivation of data transactions, Fair PoS, and token burning is going to happen at​ the end of June.

Sponsored transactions

An important update to the protocol is Sponsored Transactions. Sponsored transactions replace asset fees which allowed users to pay nodes directly with custom tokens. After activating the Sponsored transactions the issuer of the token will make deposit in WAVES, and this deposit will be used for paying for the nodes service. It is important that all nodes process transactions and do not refuse any due to them being economically unviable. Additionally, this ensures that there is always demand for WAVES, since transactions are cheap but not free. Sponsored transactions activation is awaited at the beginning of July. For more information, see https://docs.wavesplatform.com/proposals/sponsored-transactions.html.

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the wave node that you have post , its cool.

Waves seems to be very undervalued since their GUI is so nice and their blockchain is so fast. I love that the Monero gateway is now up. I'm still a bit confused on whether or not Waves plans to have Dapps developed using Waves or if the Smart Contracts functionality is only for creating tokens?

Hello, the release of DApp is planned for Q4. Nothing is going to be changed since then, the information about token usage for DApps hasn't been revealed yet. More details here https://steemit.com/cryptocurrency/@wavesplatform/the-future-of-dapps.
The Waves smart contracts will include the following benefits and more:

  • Support for multi-signature wallets, which cannot be controlled by simply one person alone
  • No gas for non-Turing complete smart-contracts
  • Comparable service to Ethereum, but both easier and cheaper to use
  • The ability to immediately distribute and trade created tokens on DEX
  • Support for atomic swaps in the future
  • Support for token freezes
  • Support for decentralized applications (DApps)

Best wishes,
Waves Community manager.

This post has received a 30.15 % upvote from @boomerang.

I participated in your airdrop, was then told I had to do it again except launder my coins through an exchange first, and I did that, following every single rule, and all I ended up with were some scammy shitcoins: https://wavesexplorer.com/address/3P8sc9uHAV1F1qg2gfQ7VzHSEXYCPiVLwuX

Very frustrating, to spend that time and waste on those fees transferring for nothing!

Hello, @amvanaken! It is sad to hear you did not get anything, it seems that you did not fulfill all the terms for the current promotional activity. But do not fill bad as we will have lots of interesting and challenging activities coming up soon. Stay tuned!

Best wishes,
Waves Community manager.

Except I was told by an official waves rep on telegram that all I had to do was send my Waves to an exchange and then back to a new wallet. I asked them if they were 100% sure and they said yes!

Hello, that's true. But you had to send it on another new Waves wallet, not the same one, as the address of your "old" wallet was excluded from the list of eligible for getting free tokens addresses.

Best wishes,
Waves Community manager.

Yeah I asked the official Waves expert if I needed to make a new wallet and they assured me I didn’t need to and they just needed to come from an exchange... Such a dumb airdrop and so frustrating that you would change the rules once it’s already going and then don’t train people on the details. I would have made a new wallet but you were terrible at responding to comments and I was given wrong information from the person running the Waves platform telegram...

Hello, @amavanaken! Please, take my apologies for that unclear situation if it had been taken place then. We will do our best to improve the condition with transparency and clearness of the terms for the next promotional activities. Kindly rely on your understanding and invite to take part in future activities from Waves Platform.

Best wishes,
Waves Community manager.

Nice update, thanks for sharing and i look forward to seeing more developments!

Those are cool features! I can't wait to clean up my asset list. Let's burn airdropped spam tokens like weeds :)

Love waves!