Obyte Introduces Major Updates: On-Chain Governance, Spam Protection, and Sidechain Infrastructure
Obyte Introduces Major Updates: On-Chain Governance, Spam Protection, and Sidechain Infrastructure
The upcoming network upgrade will further decentralize the network, protect it from spam, and introduce new scalability features
TRIESEN, LIECHTENSTEIN, October 7, 2024 /EINPresswire.com/ -- Obyte1, a decentralized crypto platform leveraging Directed Acyclic Graph (DAG) technology, is excited to announce significant updates to further improve its ecosystem. The updates, described in Obyte Improvement Proposals (OIPs)2 3 through 8, are already live on the testnet, including changes to the testnet wallet3. These enhancements bring critical features in on-chain governance, spam protection, and infrastructure for sidechains, further solidifying Obyte’s position as a pioneering decentralized network.The most notable of these updates introduces continuous voting for Order Providers (OPs) —the twelve public nodes in charge of providing waypoints for ordering transactions. This change empowers users by allowing them to vote for OPs directly on-chain, using their GBYTE balance as voting weight. The power to influence the OP list will now fully lie with the community, eliminating the ability of incumbent OPs or hubs to exert outsized control over their selection. This on-chain governance system decentralizes decision-making even more, enhancing the network’s security and democratic nature.
Another key improvement is enhanced network resilience against potential sabotage. In cases where the network could be frozen due to a lack of activity from most OPs, users will be able to make an emergency replacement of the OP list and restore network liveness without needing a hard fork. This extension complements the on-chain voting system, ensuring that the network remains sabotage-resistant and flexible, even in challenging situations.
The upgrade also implements stronger spam protection. To defend against attacks that could overload the network with either large transactions or excessive transaction flow, Obyte will now implement a dynamic fee structure. OIP 5 introduces an “oversize fee” that increases costs for outsized transactions, protecting the network from spamming that could increase storage demands and risk centralization. OIP 6 introduces fees that escalate as transaction volume increases, ensuring the network remains usable even under heavy load.
Features for Sidechains
In addition to governance and spam protection, the updates lay the groundwork for robust sidechain infrastructure, essential for future scalability. A temporary data storage system is introduced on the DAG, designed specifically for sidechains. This feature allows sidechains to use Obyte for ordering their blocks, eliminating the need for separate consensus mechanisms.
Sidechains (based on any ledger, e.g., EVM or Solana) can now post their blocks on Obyte as temporary data, enabling reliable ordering of these blocks. Beyond sidechains, any user could use this feature to post transactions with large amounts of data without paying the “oversize fee” and keeping the unique hash of the data.
Finally, a standardized way to burn GBYTEs was implemented as well. This component is practical for sidechain applications, especially when competing block producers need to prove commitment by burning tokens. Besides, it also benefits average users providing scarcity for the native coin.
Mainnet Implementation
These updates mark a major step forward for Obyte, significantly improving the network’s scalability, security, and decentralization. The Obyte team is eager to receive community feedback on these testnet upgrades and encourages users to download the updated testnet wallet. A website for community voting on OPs and other system variables (on-chain governance) will soon be launched, further democratizing the governance process.
The mainnet upgrade is expected to take place in some weeks, pending successful testing and community input. These changes represent the most significant update since the introduction of Autonomous Agents (AAs) in 2020, underscoring Obyte's ongoing commitment to innovation and decentralization.
About Obyte
Obyte is a distributed DAG-based cryptocurrency network, dedicated to pioneering the next frontier of decentralization and individual autonomy. Founded in 2016, Obyte has emerged as a trailblazer in the realm of distributed ledger technologies, driven by a steadfast commitment to innovation and ideological principles that assert individual freedoms.
Tony Churyumoff
Obyte Foundation
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1 https://obyte.org
2 https://github.com/byteball/OIPs
3 https://obyte.org/testnet
