- NEO plans Mainnet upgrade to neo-cli v2.10.2
- Mainnet upgrade to add Oversize Fee to transactions larger than 1024 bytes
- Crypto twitter confirms the successful upgrade of NEO Mainnet
The NEO Mainnet upgrade which was slated for June 3, 2019, to update all consensus nodes to neo-cli v2.10.2 in order to improve network stability, prevent malicious transactions and wade off network attacks has been successfully completed, according to Seasidecrypto’s tweet on June 3, 2019.
NEO’s Mainnet Planned Upgrade
Prior to the tweet, NEO organization publicized on its blog that the NEO Mainnet will be upgraded on June 3, 2019, and as such, all Mainnet consensus nodes will be updated to neo-cli v2.10.2 using an optimized dBFT 2.0 consensus algorithm. The update will also make changes to the Network Fee mechanism.
$NEO has successfully upgraded to NEO-CLI 2.10.2 and dBFT2.0
Soft forks are now a problem of the past. The new consensus mechanism is very stable and offers high performance and the typical $NEO same block finality
No more network outages.
— Seaside (@seasidecrypto) June 3, 2019
As a consequence, transactions whose network fees are less than 0.001 GAS will be classified as low priority. Only 20 of such transactions can use a block and they cannot be larger than 1024 bytes.
High priority transactions, on the other hand, will be determined if a user pays at least 0.001 GAS as fees. The memory pool can also be ordered based on the network fee that is paid as a Priority fee.
If more than 1,024 bytes is used in a high priority transaction, then the fee will be calculated using the formula: transaction size * 0.00001 GAS + 0.001 GAS.
Update to Transactions Sent Using RPC Requests
In the same vein, users who are fond of sending transactions using RPC requests will be provided a running node which will help them to configure the fees they will pay for a transaction.
Similarly, a transaction will only be sent to the blockchain if the network fee does not exceed what the user has configured in a bid to protect their assets.
Neo had, therefore, advised crypto exchanges and NEO related tools or projects to make updates to their neo-cli to v2.10.2 even before the upgrade takes place in order to take advantage of the new network fee mechanism and ensure that transactions do not fail.
According to the blockchain company, the purpose of the Mainnet upgrade is to improve network stability through the implementation of network fees that will prevent malicious transactions and network attacks.
Crypto Community Confirms Successful Upgrade of NEO’s Mainnet
While the planned upgrade was awaited, a tweet was made by Seasidecrypto stating that NEO has successfully upgraded to NEO-CLI 2.10.2 and dBFT2.0 which eliminates the problem of soft forks while also ensuring that the network is stable.
The message was taken in good faith by a number of people even though others have been quick to point out that the NEO team is yet to make an official announcement on its page that the network upgrade was successful.
Nevertheless, Seaside noted that the upgrade was carried out since “Block production stopped for a few minutes exactly at 9:00 GMT and went back on at 9:06 GMT. It has been very stable since then. Also, @fabwa confirmed the upgrade on Discord.”
Blockchain Reporter on April 30, 2019, also informed that NEO will be accepted by Apple Pay, Samsung Pay After Integration with Zeux App.