Lisk announces arrival of ‘new era’ after successful completion of migration to Lisk Mainnet v3

The Lisk Mainnet v2 completed the migration to Lisk Mainnet v3 on August 21, which is the biggest protocol change in Lisk blockchain history, Lisk wrote on their website. Features of the 'new era' include an extremely secure new account address system, up to 98.64% cheaper transactions after moving to a dynamic fee system, and ensured full immutability of transactions.

Migration eliminates all weaknesses of the Lisk Mainnet v2
The migration eliminates all weaknesses of the Lisk Mainnet v2 related to accounts, the consensus algorithm, and fees. The blockchain is now almost fully prepared for the upcoming interoperability release.

With v3, the new account address system is extremely secure with built-in error detection for typos. This does away with the need for account initialization. The previous address and ID system was retired and all current accounts were migrated. As a result, addresses have become longer, virtually eliminating the risk of address collisions and making sure such addresses resist preimage attacks.

Account private and public keys and the 12 word mnemonic passphrase have not changed. It's guaranteed that typos of up to 4 characters in the address will be detected.

Almost 100% cheaper transactions
With the newly introduced dynamic fee system under Lisk v3, transactions will be as much as 98.64% cheaper. This is because the minimum transaction fee has dropped from 0.1 LSK to 0.00136 LSK in an effort to make fees more competitive. By setting a higher fee and the same nonce as the transaction a user wants to overwrite, they can do so as long as the transaction has not been included in the block yet.

Transactions are non-reversible
Another important change that goes with Lisk v3 is total immutability. In other words, transactions are 100% non-reversible. This is the way of the future with interoperability and sidechains coming into the Lisk ecosystem as it prepares for v4. When Lisk Core v4 is released, blockchain applications will be able to support transactions across multiple blockchains. Lisk's newly integrated BFT consensus algorithm ensures they can't be reversed.

Meet Your Neo Council Community Candidates

With the launch of N3, the Neo community has the power to elect a 21 member council to manage the Neo blockchain. The Neo Council will consist of council members and consensus nodes who provide services, maintain the network, and adjust critical blockchain params. NEO holders are rewarded with GAS tokens for successfully voting for a council member.

Every NEO token is worth one vote, and it is important that you use your votes to elect candidates that you feel will best represent your values when making governance decisions. It is also important that you elect council members who have a solid understanding of the Neo blockchain and are capable of carrying out the responsibility of operating a council node.

To ensure a smooth transition from Neo Legacy to Neo N3, the Neo Foundation has used its own NEO to vote in an initial Neo Council, comprising seven NF nodes, four Neo Global Development nodes, and 10 community run nodes.

But from here it is all up to you. You may vote in or vote out anyone you like. Anyone is free to register as a council candidate. This is an important step towards Neo's goal of decentralization.

To help you become familiar with your current candidates, each of the 10 community groups elected into the initial council have provided a general introduction below (listed in alphabetical order). Within these statements, you will learn about their relevant experience, commitments to the Neo ecosystem, and pledges to you as a voter.

We are sure you will find a representative that is right for you.  

For more information on how governance works on Neo, visit neo.org/gov.