Waves 1.2 Malibu activated

Waves 1.2 Malibu activated

The functionality of the Waves 1.2 Malibu update, released on August 12, was successfully activated on September 7, at 02:31:06 UTC on block 2230000.

The activation of the new functionality was fully in line with the activation protocol. During a vote that lasted for 10,000 blocks, over 84% of the network’s generating balance supported the activation of the new functionality, “Feature 15 (Ride V4, VRF, Protobuf, Failed transactions).”

Waves 1.2 Malibu is one of the most comprehensive updates of the Waves node software ever, coming as a result of 11-month work. Detailed information on the release can be found in this article. The most vital and interesting improvements can also be viewed as cards on our Twitter account:

1. Verifiable random functions (VRF)
   The new feature makes the Waves protocol resistant to attacks and enhances the security of LPoS.
2. New execution model
   The new script execution model makes the Waves network more resistant to DDoS attacks, also introducing a fairer block generation process by charging fees on failed transactions.
3. Attaching 2 payments to dApp calls
   Users will be able to attach up to two tokens in dApps as payment for new DeFi mechanics.
4. Removing data keys
   Removal of key-value pairs from account storage is now possible, thanks to using the DeleteEntry function in #Ride v4, which helps speed up API calls.
5. Function families in Ride v4
   Functions with different argument size limits and complexities can be used, which ensures better security and less complexity.
6. Ethereum compatibility
   Ride v4 now includes the ecrecover function that derives a public key from a message signed with ECDSA. The same function is used for signature verification and encryption in Ethereum.
7. Reissue transaction fee -> 0.001 Waves
   The reissue transaction fee has been reduced 1,000 times and now equals to 0.001 WAVES, opening new possibilities for projects on Waves.
8. Protobuf schemas
   All transactions and blocks for data exchange with a node are now stored in the Protobuf format.
9. Block capacity optimization
   The update sees an increase in block minimum duration from 5 to 15 sec., which reduces the number of very short/long blocks. The average block time stays at 1 min.

Since the initial Malibu release, two minor updates fixing incorrect node behavior have been released. Therefore, we suggest updating to version 1.2.12, unless you have done it already.

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