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Waves Enterprise implements version 1.2.2 with major changes to its ecosystem

By Inkarias - 2020-04-11

Since several months, the core team of Waves has been working about some major changes to make the network more profitable for miners and token holders, as well as improving speed and throughput. The announcement was made earlier this week and version 1.2.2 was pushed to mainnet as well.

Sponsorship changes

The main component of this new patch is the sponsorship functionality, aiming to become the basis for launching products on Waves Enterprise’s Mainnet in the future. Sponsorship will also provide a major step towards legal token issuance and operation and isn’t subject to the rules that apply to security tokens usually. Fees for transactions with sponsored tokens will be paid to miners in WEST tokens the native token of the Waves Enterprise network from the issuer’s account. This is a major addition to the ecosystem and, in the meantime, new versions of existing transactions that support sponsorship will be available: Transfer, MassTransfer, Contract transactions, Data Transaction, Create Alias and Policy transactions.

Network fees increase and additional improvements

The second major change brought to the Waves ecosystem is the fees increase that will lead to increased mining profitability, while the network will become more attractive for new users overall. This solution is aimed at helping miners and token holders to be profitable with the current market situations and despite market fluctuations. To do so, the team has updated a mechanism for simultaneous peer operation. Nodes can now recognize other nodes’ addresses as domain names and communicate them to users in this form and this patch will also facilitates this with an increase in the speed of private transactions. Finally, the communication between nodes and containerized smart contracts has been improved, and a new gRPC method has been added to the node, enabling a smart contract to verify that a transaction has been processed by the network.

More details on this new groundbreaking version at https://wavesplatform.com