Blockchain platform Neo X unveils Mainnet safeguards aimed at preventing Manipulation of Exchange Values (MEV) exploits
Neo, a leading blockchain platform, has announced a significant mainnet upgrade for its Neo X blockchain. This update, implemented at block height 3,749,760, marks a crucial step towards bringing attack-resistant, decentralized, and secure Web3 experiences.
The focus of the upgrade is eliminating toxic Maximum Extractable Value (MEV) through consensus and cryptographic innovations. The Neo X mainnet is now MEV-protected for all on-chain accounts, a move that signifies more than just a technical achievement. It is a statement of intent for prioritizing user protection, decentralization, and Web3 principles.
The decision to upgrade the Neo X blockchain was made in May 2023, and the Neo team officially released the Neo X mainnet upgrade to version 0.4.2. This update enables Anti-MEV protections through Neo's new client software.
The upgrade includes several key innovations. The dBFT consensus mechanism is used to prevent validator misconduct. Enveloped Transactions conceal transaction details until block inclusion, ensuring privacy and security. ZK-based Distributed Key Generation further strengthens the network's security.
Da Hongfei, the founder of Neo, believes that MEV is not inevitable but a choice, and can be engineered out for a fairer blockchain operation. By engineering MEV out of the system, the Neo X network reinforces transparency and trust, aligning with its long-term vision of a censorship-resistant, decentralized future.
The Neo client node software was upgraded to version 0.4.2 as part of this process. The upgrade activates protocol-level MEV protection, aiming to protect users, strengthen decentralization, and create a more competitive and investable ecosystem.
The Neo X mainnet upgrade follows a successful rollout on the public test network. The successful implementation of MEV protection on the mainnet is a demonstration of the network's commitment to a blockchain future that prioritizes user protection and decentralization.
Neo emphasizes that fairness is not just a technical improvement but a strategic necessity for Web3. The MEV protection, implemented on the Neo X mainnet, aims to protect users, strengthen decentralization, and create a more competitive and investable ecosystem.
In conclusion, the Neo X mainnet upgrade to eliminate MEV exploitation opportunities is a significant step forward in the blockchain industry. It underscores Neo's commitment to a future that prioritizes user protection, decentralization, and transparency, making it a more attractive and trustworthy platform for users and developers alike.
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