Neo, an open blockchain and smart contract network, has announced the launch of the exclusive Neo X MainNet v.0.4.2 upgrade. The Neo X MainNet v.0.4.2 upgrade enables Anti-MEV functionality with a block height of up to 3,749,760. As the platform’s official social media announcement reveals, this takes place after the effective Testnet deployment, denoting a milestone in developing a relatively transparent and fairer blockchain ecosystem. Hence, with this, the platform reaffirms its commitment to censorship resistance, user-first values, and decentralization.
What Does MEV Mean?
Maximum Extractable Value, or MEV, denotes the gains that block creators can capture through the manipulation of transfer order within 1 block. Although a few think that neutral MEV, like DEX arbitrage, has restricted utility, most of the time, the MEV is deemed toxic. Hence, harmful MEV practices, such as time-bandit reordering, sandwich attacks, and front-running, serve as hidden taxes to drain user funds while also directly undermining the standards of decentralization, permissionlessness, and security.
Neo Rolls out Neo X MainNet Upgrade for Blockchain Anti-MEV Protection
By launching Neo X MainNet v.0.4.2 Upgrade, Neo intends to offer anti-Maximum Extractable Value (MEV) functionality. This focuses on the provision of a transparent blockchain network. Neo deals with the MEV challenge with an exclusive merger of consensus-level and cryptographic design innovation. Thus, with dBFT consensus mechanism, it keeps validators from any misconduct, eliminating incentives that enhance the possibility of MEV in other blockchains. In the meantime, the Enveloped Transactions conceal transfer details until their finalization in a block, removing the opportunities related to order manipulation and frontrunning.
Establishing Investible and Competitive Web3 Networks
According to Neo, the Net X MainNet v.0.4.2 upgrade’s successful deployment permits censorship and credibility in the decentralized ecosystems with the Anti-MEV functionality. Hence, with its release, the platform bolsters fairness to establish investible and competitive ecosystems. Keeping this in view, by eliminating MEV, Neo underscores its consistent efforts to maintain transparency and trust, driving decentralized, censorship-resistant, and equitable blockchain future.
Related reading: Rayls Launches Partner Program to Boost Institutional On-Chain Adoption.
