Hedera announced the launch of the Mainnet v0.54 Release.
Hedera noted in a blog post that they are constantly working to improve the network and deliver the “best possible” user experience for enthusiasts, developers, and enterprises.
As covered, Hedera is described as a public, open-source, decentralized network that enables blockchain and crypto developers to create web3 apps and ecosystems.
It’s built on a hashgraph consensus algorithm, which makes it different from other larger and much more established blockchains like Bitcoin (BTC) and Ethereum (ETH).
Hedera developers claim that their solutions are designed to be fast, secure, and energy-efficient.
With the release of mainnet upgrade to version 0.54, a number of new features and capabilities have been implemented in order to improve the overall functionality of the Hedera network.
HIP-904: Frictionless Airdrops – Full Implementation
As explained in the update from Hedera, the Mainnet release v0.53 included several technical components that are said to be “key to the implementation of HIP-904: Frictionless Airdrops on Hedera, including Unlimited Max Automatic Associations – enabling accounts to automatically associate with an unlimited number of tokens (both fungible and non-fungible) that have been sent to them – and, in relation, Sender Pays Auto Associations – charging association fees to the sender of the tokens as opposed to receivers pre-paying for automatic association slots whether they are used or not.”
With the release of mainnet v0.54, all additional core features of Frictionless Airdrops – empowering token creators and users alike – “have been implemented.”
Some of the key components of Frictionless Airdrops:
Pending Token Transfers
Allows sent/received tokens to be kept in a “pending” state – as opposed to the transaction outright failing – when the receiver account has no available or automatic association slots remaining.
TokenAirdrop
Enables senders to distribute tokens to multiple recipients in a single transaction, with consideration of account association properties.
TokenClaimAirdrop
Enables receivers to selectively claim airdropped tokens that are in a pending state.
TokenCancelAirdrop
Enables the ability for token senders to cancel “unclaimed airdropped tokens post-distribution.”
TokenReject (implemented previously in v0.53)
Enables receivers the ability to transfer “either their entire balance of a fungible token or specific non-fungible token serials back to the token’s treasury account, regardless of how these tokens were acquired.”
HIP-1010: Update Token Custom Fee Schedules via Smart Contracts
The implementation of HIP-1010 extends the “capabilities of smart contracts in managing token fee schedules, introducing the ability to update or remove Custom Fees for tokens.”
Two new system contract functions in the Hedera Smart Contract Service (HSCS) have been introduced:
updateFungibleTokenCustomFees
Specifically handles fee updates for fungible tokens, “allowing the setting of both fixed fees (which can be in HBAR or other tokens) and fractional fees (percentage-based fees).”
updateNonFungibleTokenCustomFees
Specifically handles fee updates for non-fungible tokens (NFTs), “allowing the setting of both fixed fees and royalty fees.”
Both functions are designed to work within the existing Hedera Token Service (HTS) system contract interface (IHederaTokenService) and “utilize the existing HAPI transaction for TokenFeeScheduleUpdate.”
The separation into two distinct functions was chosen “over a unified approach to provide a cleaner solution that clearly differentiates between fungible and non-fungible token fee structures.”
The implementation ensures backward compatibility as it “doesn’t modify existing features, and security is maintained by adopting the HAPI authorization logic – meaning transactions will only succeed if the contract making the call is set as a feeScheduleKey to the token or is part of a threshold key set.”