Announcement on updating NerveNetwork to V1.6.0

Hello NerveNetwork community,

After launching the NerveDEX and implementing cross-chain with the NULS and ETH networks, we are thrilled to announce that NerveNetwork has successfully opened up the heterogeneous cross-chain function with Binance Smart Chain (BSC). The new version was officially released on the NerveNetwork mainnet on November 16, 2020 15:00 (UTC +8). The new function will take effect at the height of 5,600,000 (Estimated November 19, 2020 02:00(UTC+8 )).

About the V1.6.0 version update

1. Support BSC network cross-chain

  • Open up the ETH and BSC assets cross-chain channel and enable access for mutual transfer between the networks.
  • Open up the BSC and NerveNetwork assets cross-chain channel and enable access for mutual transfer between the networks.
  • Open up the NULS and BSC assets cross-chain channel and enable access for mutual transfer between the networks.

The virtual banks need to recharge BNB to the package addresses.

2. Support BNB/HT/OKB price feeding.

3.Support BNB/HT/OKB immediate staking(The total amount of BNB is 100,000, HT and OKB is 200,000)

4. Dynamic service fees for heterogeneous cross-chain transactions:

  • Pay service fees based on the actual cost of cross-chain transactions.
  • All the service fees are given to the processing node.
  • When the set service price is lower than the current network average, the transaction will be delayed.

5.Increase the red card penalty buffer time to avoid node owners not having enough time to deal with the issues.

6.Reduce the creation service fee of DEX trading pairs from 2000NVT to 200NVT.

7. Reduce the cross-chain transaction fee among the ecosystem projects, from 0.3NULS to 0.01NULS,from 0.3NVT to 0.01NVT.

NVT has registered cross-chain assets on the BSC network, and the contract address is:

0xf0E406c49C63AbF358030A299C0E00118C4C6BA5

This upgrade is mandatory. As this upgrade involves protocol updates, all mainnet node owners are requested to complete the upgrade as soon as possible to avoid receiving unnecessary yellow cards.

Updating ways:

Docker installing directly: nervenetwork/nerve-wallet-node:v1.6.0

Updating tutorial: http://docs.nerve.network/Guide/g_docker_install.html

Feedback

Github issue submithttps://github.com/NerveNetwork/nerve/issues

Community users may join the official discussion chat channels to ask questions and make suggestions. The technical community will try their best to answer as soon as possible. Because NerveNetwork is a global community with time differences across regions, we ask for your patience and understanding while we try to respond to every question in a timely manner.

Resource list

NerveNetwork Team
November 16, 2020