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Everything NEO of June: the Open-Source project announces Update

NEO presents the innovations in the beginning of June, the planned Update of the NEO Software. In addition to an update to the consensus algorithm, a new fee fo

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Everything NEO of June: the Open-Source project announces Update

NEO presents the innovations in the beginning of June, the planned Update of the NEO Software. In addition to an update to the consensus algorithm, a new fee for larger transactions will be introduced.

By Christopher clover
31. May 2019BTC$8.431,00 , the network of Chinese Cryptocurrency NEO receives -3.31%part Facebook Twitter LinkedIn xing mail

on 3. June a Update. The Software Upgrade for the network nodes (Nodes) of the NEO-Blockchain leads as the most important new feature is an "Oversize Fee" (dt. Oversize charge). So, a variable charge is in the future for transactions that are greater than 1,024 bytes. The NEO project on the 29. May, on his Blog announced. The fee depends on the memory requirements of the transaction.

Holy Trinity of the transactions

The charges follow a three-stage model.

transactions for which the GAS charge is less than 0.001 for GAS, may not be larger than 1,024 bytes. Furthermore, the network node of these "Low Priority"transactions that only 20 per Block to take.

For a NEO-transaction gets a priority treatment by the confirmation node (Validator Nodes), additional fees. From an additional fee of 0.001 GAS, the network considered the transactions as a priority. The order of processing of the lot to decide on in addition to paid, GAS.

The additional charge for High-Priority transactions that are greater than 1,024 bytes, calculated from the following formula:

- transaction size * 0,00001 GAS + 0,001 GAS

An exception to this scheme, the Operation "claim TRANS action is." Transactions which serve the execution of this command will be treated, regardless of the network fee as a priority. Furthermore, the network charges for the Implement and Invoke a Smart Contract at the 0.001 GAS.

NEO urged for the early Update

the project Also indicates that all actors within the NEO-Ecosystem, to ensure, their Software prior to the Update to.

Before the MainNet Upgrade is recommended for all stock exchanges, your [Software] advance on v2.10.To update 2. NEO-related Tools or projects should also be in accordance with the new network fees mechanism updated to losses due to failed transaction to avoid designs, due to insufficient network fees.

On the day of the announcement of the NEO Updates of the NEO-course, lay a veritable rally of twelve dollars to almost 15 dollars; however, he was not able to maintain this Level for long and, like most of the Altcoins – the pull of the since 30. May ongoing course correction of BTC fallen prey to.

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