Insight: Bytecoin’s 3.3.0 Update

Dynamic fees were partially dynamic in the past. The fee was supposed to be proportional to the size of the TX but could not be lower than 0.01 BCN. With the hard fork, the fee can now reach 0.

Users should be informed that the fee is a market instrument so the higher it is, the more likely the miner would pick a TX first.

The size of the TX is not dependent on the transaction amount. It is only based on the granularity of former outputs linked with the address. If the outputs are little to compensate, the TX would require a greater number of them. Users are advised to send the amount to smaller parts of TX.

Seed nodes can be contacted once every day. This feature is helpful to users who run it infrequently. Another feature of the update is the fix of peer handshake - it connects through non-standard ports to nodes behind NATs.

The Groestl hash function, as well as the Keccak permutation function – both essential to cryptography, were updated. JSON-RPC calls are two times faster than before. Response and request objects were removed or modified.

The hard fork allows the Daemon CLI parameter for the long-sought-after test and stage-nets. The infrastructure of Testnet permits local blockchain transfer on the integrator‘s hardware.

Stagenet, however, is a global infrastructure that imitates the main net. It is usable in the later stages of development. With the testnet time multipliers, users can speed up to 10x and 100x more.

Bytecoin‘s developers designed the hard fork to operate as smoothly as possible. Users have 14 days or 10,000 blocks to update.

The good news for exchanges, partners, and miners is the improved API.  The newest version can handle more errors and proceeds faster. A single access point /binary_rpc was created for binary methods.

‘Paranoid mode‘ was developed for concerned users. When downloading, it checks every byte of the blockchain. The command get_wallet info gathers the most important wallet data at the moment. The Get_statistics command checks and delivers even more.