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Waves Enterprise Releases Major Patch

The update aims to make the network more profitable for miners and token holders, as well as improving speed and throughput.

Waves Enterprise is releasing a major update for Mainnet.

Sponsorship

The main component of the patch is sponsorship functionality, which will become the basis for launching products on Waves Enterprise’s Mainnet. Sponsorship will also provide a major step towards legal token issuance and operation, since these are application tokens, and not subject to the rules that apply to security tokens.

This functionality will be implemented through a new token sponsorship transaction, enabling sponsorship for application tokens issued by the network’s users. 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.

In addition to the sponsorship transaction, new versions of existing transactions that support sponsorship will be available: Transfer, MassTransfer, Contract transactions, Data Transaction, Create Alias and Policy transactions.

Raising network fees

Another major change is raising network fees for the Waves Enterprise Mainnet.

Raising fees will lead to increased mining profitability, while the network will become more attractive for new users.

Additional improvements

The Waves Enterprise 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. Previously, nodes always transformed domain names into IP addresses and sent these to other users, rather than domain names, which is not always convenient in networks with complex routing.

The patch also facilitates an increase in the speed of private transactions.

In addition, 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. As a result, execution of more complex scenarios of interaction between a smart contract and the blockchain is possible.

Meanwhile, work on version 1.3 is already in progress.