Planq Network ‘’Bohr’’ upgrade
In the previous blog (The Future is Bright: Planq Network’s upcoming updates) we already informed you a major chain upgrade for Planq Network was on the way.
The “Bohr” blockchain Upgrade for the Planq Network brings a range of key improvements which will be explored in detail in this blog.
Cosmos ledger support
First, Cosmos ledger support enhances security for Cosmos users. We’re excited to announce that the Planq Network now supports Cosmos Ledger integration! You can use your Ledger hardware wallet, such as the Ledger Nano S or Nano X, to manage your Planq assets with enhanced security.
This feature was highly requested and makes it safer to interact with the Planq Network if you are a ledger user. With this integration, you can still stake tokens, access dApps or transfer assets. We’re providing you with the tools you need to safely explore all the possibilities of the Planq ecosystem.
Cosmos SDK upgrade to 0.47.14
Planq Network is currently on Cosmos SDK version 0.46.3. With Bohr we are moving to version 0.47.14. introduces several significant changes and improvements that enhance the functionality, security, and performance of the Planq Network. Here are some of the major changes to expect:
- Performance Boost: Enhanced transaction processing speed for even quicker transactions.
- Bug Fixes: Stability improvements addressing various issues for a more reliable network.
- Governance Enhancements: Streamlined proposal handling and voting mechanisms for better community participation.
- Interchain Features: Improved support for Interchain Accounts and IBC functionality for seamless cross-chain interactions.
- Security Updates: Enhanced security measures to protect against potential vulnerabilities.
- Updated Documentation: Resources for developers to adapt to new features and changes.
This upgrade aligns Planq with the latest Cosmos advancements, providing a more robust and user-friendly experience.
EVM upgrade to support PUSH0 and latest improvements
With Bohr, Planq has enhanced its EVM (Ethereum Virtual Machine) support to include the PUSH0 opcode and other recent improvements. This upgrade aligns Planq with the latest Ethereum updates, ensuring that developers can leverage the most up-to-date tools and features when building on our network.
What does PUSH0 mean for developers?
The addition of the PUSH0 opcode allows for more efficient smart contract development by simplifying certain operations that previously required workarounds. This leads to reduced gas costs and improved performance when executing smart contracts on the Planq Network.
With these EVM improvements, developers can now build and deploy more optimized dApps, while users enjoy a faster and more cost-effective experience. This upgrade is part of our commitment to providing platform that seamlessly integrates the best of both Cosmos and Ethereum ecosystems.
Interchain accounts and Liquid Staking
Planq Network now supports Interchain Accounts and Liquid Staking, unlocking new opportunities for cross-chain interaction and greater flexibility in staking.
What are Interchain Accounts?
With Interchain Accounts, users can interact with other blockchains directly from the Planq Network. This means you can perform actions like transferring tokens, executing smart contracts, or participating in governance across multiple Cosmos-based blockchains — all without leaving the Planq ecosystem. It simplifies the user experience, making it easier to manage activities across chains from a single account.
What is Liquid Staking?
Liquid Staking allows users to stake their Planq tokens without locking them up. You can stake your tokens, earn staking rewards, and still maintain the liquidity of your assets. This means you can continue using your staked assets in DeFi applications, trading, or other investments while earning staking rewards. It combines the best of both worlds — security through staking and the freedom to manage your assets actively.
Please note that while Planq Network now supports liquid staking and interchain accounts, this does not mean there are already features using this technology. As of now, no liquid-staked version of Planq Network’s $PLQ is available.
Switch from Tendermint to Comet-BFT
With Bohr, Planq Network has transitioned from Tendermint to Comet-BFT, bringing improved performance and scalability to the network.
Why switch to Comet-BFT?
Comet-BFT is the next evolution of the Tendermint consensus engine, offering better performance and enhanced features. This upgrade focuses on faster block processing and increased throughput, ensuring that transactions are processed more quickly and efficiently across the network.
In addition to performance improvements, Comet-BFT introduces enhanced network stability and better handling of validators, helping to maintain a more resilient and secure blockchain. By making this switch, Planq aligns with the latest advancements in the Cosmos ecosystem, ensuring we can continue to provide a reliable and robust platform for developers and users.
Automatic IBC coin to ERC20 conversion when receiving via IBC
Whenever you receive tokens from other Cosmos-based chains through IBC, they will automatically be converted into their equivalent ERC20 tokens on the Planq Network. No need to use Delta Swap convert when sending tokens to Planq Network initially!
This feature simplifies the user experience, allowing for seamless cross-chain transfers and immediate access to the broader Planq Network EVM ecosystem. When you want to send back the tokens, you still need to convert the tokens via Delta Swap Convert.
IBC transfer escrow accounts are migrated to ‘ModuleAccount’ type
Previously, IBC transfer escrow accounts used a different structure, but now they have been standardized to ‘ModuleAccount’ type. This change improves security and efficiency in handling assets during IBC transfers. A ‘ModuleAccount’ allows for more streamlined and secure management of tokens held in escrow, ensuring that cross-chain transactions are processed safely and reliably.
This migration helps simplify the account management process for the network and offers a more robust framework for future upgrades, ultimately making your IBC transactions more secure and efficient on the Planq Network.
The end!
Thank you for reading and exploring the new upgrades to the Planq Network! These enhancements not only bolster our platform’s performance and security but also expand the possibilities for developers and users alike.
We’re committed to continuously improving your experience and unlocking the full potential of the Planq ecosystem. For any questions about this upgrade, please contact us via any of our social media. Stay tuned for more updates, and as always, happy exploring!
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