Waves Node 1.2 Malibu, the new Waves update to improve network functionalities to ensure high-level security and optimize the user experience for developers and users.
Through a publication, Waves developers announced the release of the new version of the protocol: Waves Node 1.2 Malibu, one of the most comprehensive updates to the network that took the development team 11 months of work. This new update was activated on September 7, and will allow the network to guarantee a high level of security, while providing a much more complete, attractive and rewarding user experience for developers and other users.
Also on Twitter, the Waves team announced that the Malibu update will allow the minimum block duration to be increased from 5 to 15 seconds, reducing the number of very short or very long blocks generated and keeping the average time established for the generation of blocks and tokens at 1 minute.
Malibu is one of the most important updates to be implemented on the Waves mainnet, adding new features and functionalities to improve the security of the network and make the block generation process more fair and appropriate.
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What is the Waves Malibu update?
First of all, the development team decided to name the new Waves update as “Malibu” in honor of a well-known city in California, United States. In addition, assigning a name instead of a number allows the development team to recognize this new version much more easily. On the other hand, Malibu is a version that integrates new types of transactions and a new version of the language Ride, which allows to significantly improve the experience of users and developers.
Likewise, Malibu integrates several other features that allow optimizing the level of network security, such as the integration of Verifiable Random Functions (VRF), which are cryptographic primitives that allow Waves or any other network that uses them to be highly resistant to brute force or denial of service attacks (DoS), while improving the security of the algorithm LPOS. Without a doubt, VRF integration is one of the most important improvements to the network, which also makes it possible for the blockchain Waves has the performance to support millions of users at once.
La integration of up to 2 Tokens in decentralized application calls (dApps) is another of the new features that Malibu brings with it. Waves Malibu users can now attach up to two tokens in dApps as a form of payment within decentralized finance ecosystems (DeFi) with whom they interact.
Likewise, Malibu integrates a New script execution model, which allows Waves to be more resilient to DDoS attacks and introduces a fairer block generation process with much more affordable commission fees than Ethereum (ETH)However, from now on, commission fees are also deducted from failed transactions, so that miners do not spend resources validating failed transactions without any benefit. Waves transaction fees are positioned at around 0,001 WAVES, a 1.000-fold reduction that opens the door to the development of new possibilities and projects on Waves.
Ethereum support and zk-SNARKS integration
Malibu integrates another functionality that allows it to integrate with the Ethereum blockchain, to validate ETH transactions within the smart contracts or established smart contracts. Called “ecrecoverque”, this functionality is executed the same as in Solidity, the ETH programming language, allowing the derivation of a public key in a signed message ECDSA.
On the other hand, the new version of Ride allows Malibu to integrate functions zk-SNARK for confidential data verification without revealing the data itself, so it is expected that Waves developers will soon announce the possibility of anonymous transactions.
About Waves
Waves is a blockchain platform designed by Sasha Ivanov, for the creation of tokens and protocols in a fast, easy and intuitive way. So much so, that the main slogan of the project is “your token in 1 minute”, alluding to the possibility of creating a token in this time frame. The platform has its own decentralized exchange system for existing or newly created cryptocurrencies and tokens and currently has a market capitalization of more than 240 million dollars.
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