NEO Name Service (NNS) has released its bi-monthly development report for October. Highlights include a smart contract upgrade, distribution of NNC rewards from domain name mining, as well as product and code development.
Domain name mining activity (recently covered by NEO News Today) ended on October 23rd. The development team has announced domain name auctions will be offline for a week, in preparation for a NNS contract update. The contract update involves “modifications of certain strategies for domain name bidding,” and won’t affect domain names that have been auctioned for or successfully registered. Modifications to bidding rules include:
- No fee charges for an auction starter who failed to win the domain name.
- In overtime bidding, a bid raise must be a minimum of 10% of the highest bid price.
- A bidder who continues to raise their own bid can’t trigger the end of an auction unless a new bidder places a bid of their own.
In between the time domain name service mining ends, and the NNS contract is upgraded, a period of seven days will be open for users to complete their auctions. The contract upgrade is expected to be complete in the first week of November. Afterward, NNS domain name bidding will resume.
Rewards for NNS domain name service mining were distributed to participants on October 30th, and CGAS dividends to NNC holders are expected to begin distribution on November 1st. A snapshot for NEO wallets holding NNC was taken at 8:00 am (GMT +8) on Wednesday, October 31st.
Product Development
The SEA wallet has been updated to support transfers using “.neo” domains, and assets may now be sent to said domains.
The crawler’s missing data problem and address resolution thread insecurity problem have been resolved. Statistics for domain name bidding dividend address and dividend data has been added to the API.
Lastly, the web wallet has been adapted for PC, the web wallet plugin has been adapted for mobile devices, and a mobile wallet version for auctions has been developed.
The full report can be found at the following link:
https://medium.com/neweconolab/nns-second-bi-weekly-report-of-october-17df88eb3b01
For more information about NewEconoLabs or NEO Name Service visit one of the links below.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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