Cronos Slates Mainnet v0.7.0 Upgrade Launch for May 10

After completing the test run on the chain, Cronos announces the launch of the mainnet beta upgrade. Node operators are requested to be prepared for the v0.7.0 upgrade on May 10. Other details like node height and upgrade requirements will be announced shortly, along with the link to the upgrade.

Cronos has brought this major upgrade to address the bugs and setbacks found on the chain. The mainnet binary will be upgraded through battle-tested software development kits like Cosmos SDK 0.45.4 and Tendermint 0.34.19. Reportedly, there will be major changes to the network following the successful implementation of the v0.7.0 upgrade.

First of all, the upgrade will bring several new dependency upgrades to the node operators, including Ibc-go, Ethermint, and Cosmos SDK. Not only that, the Cronos team intends to address several bugs and issues. Primarily, the issues concerning WebSocket and MetaMask transaction failures will be addressed along with more minor bugs.

The free market module is another cool upgrade with the v.0.7.0 package. It helps bring a dynamic fee structure and a flexible fee calculation to the entire blockchain network. Upon implementation, this feature can estimate the fees for the next block depending on various factors like network utilization and demand.

Speed, efficiency, and scalability are addressed by refactoring the StateDB of the Ethereum Virtual Machine. This upgrade enhances smart contract execution and improves the network’s performance significantly. Statements from Cronos also suggest that this would also help accommodate a larger transaction volume in the blocks.

The v0.7.0 mainnet binary will be released on May 10. The Cronos team will release the detailed report with parameters and configurations to guide node operators through the process by next week. The report will also carry the link and information about the block height at which the upgrade should be initiated.

The upgrade to v0.7.0 binary is mandatory after the block height to sync the operations with the chain. The network will be paused during the upgrade and resumed after the network reaches the stipulated percentage of node upgrades.

However, node operators are requested not to upgrade before the specific block height and wait for the official announcement. Anyone excited to try the new features can interact with the Cronos testnet v0.7.0. The tester allows the dynamic fee structure function, and your transaction records and the fees can be accessed from Cronos testnet explorer.

The new v0.7.0 upgrade will be a game-changer for the Cronos blockchain to keep up with the web3 race. Moreover, the new security upgrades might also save the network from attacks that it witnessed in January.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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