Wanchain Releases GWAN Mainnet Update

Cross-chain blockchain infrastructure platform, Wanchain upgraded GWAN mainnet to version 2.1.5 recently.

An immediate comparison with previous GWAN versions reveals that Wanchain has effected a drastic reduction of gas fees. As a result, the earlier gas transaction fees of 180 Gwin will now take only 1 Gwin. Apart from making gas fees on the platform negligible, it will impact in making decentralized application (DApp) usage cheaper. This, in turn, makes the platform more desirable to DApp creators and also drive up usage.

Upgrading to the new version

There are certain requirements to be put in place to ensure the smooth upgrade to this latest version. As for validators, the upgrade took effect from May 4. The importance of the validators making the transition to the upgraded version was to ensure that proof of stake algorithm (PoS) transactions do not fail and affect their own PoS revenue.

First Method

The first method is by following the update script in the Medium blog post by Wanchain.

Second Method

When the node is shut down during an upgrade, it could lead to loss of revenue. To avert this from happening, it is necessary that the upgrade takes place without stopping the node. The process of implementing the upgrade without stopping the node requires following the below steps:

  • While creating a new cloud service node, the old node needs to run simultaneously.
  • The next step is to either create or copy the Keystore file to the ~ / .wanchain / keystore / directory of the new node.
  • For the update to begin on the new node, one would require to use the script mentioned in the first method.
  • Now, all that needs to be done is to allow the new node to fully synchronize.
  • The final step is to stop the old node between 7:00 and 8:00 AM Beijing time.

We had previously published the Wanchain introduction in our Community Speaks segment. We also reported the platform adopting PoS in 2019.

In other stories of project updates, we recently covered Beam hard fork, Ethereum Classic Phoenix upgrade, Zilliqa staking project, among others.


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