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Transaction Fees To Be Prioritized After NEO Spam Attacks

· 29 Aug 2018 in Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Transaction Fee To Be Prioritized After NEO Spam Attacks

Apparently, and according to some reports, the latest spam attack vector on NEO has been fixed. The solution aims to prioritize fee transactions and improve the network as a whole. The information has been released by the Reddit user Wingchan91, a City of Zion (CoZ) developer. In GitHub he is known as @wy.

Transactions To Be Prioritized

NEO has been the target now of several spam attacks. This situation was related to the fact that NEO does not charge transaction fees. The same happens with smart contracts. NEO offers free smart contract innovation calls.

Because of these features, attackers decided to cause a lot of damage to the entire community. According to Wingchan91, the spam attack starts with an address sending 0.0005 fragments of GAS. But the attacker repeats that on thousands of addresses.

After it, all of these addresses send the funds back to the sender. That creates an important build-up of transactions.

The solution taken by NEO and City of Zion was very simple. They’ve decided to add a small transaction fee. At the moment, this feature can be used by exchanges and wallets just if they update their software.

There are currently three bugs that have been discovered. These bugs caused the new transactions with fees to not work as planned. But City of Zion and NEO decided to work together to understand the problem.

Indeed, free and fee transactions were considered in the same way. Moreover, they were randomly getting dropped based on the hash rate.

He explained that the consensus nodes will apply the fixes to their codes. The NEO community is expecting to see the best results in the blockchain and these bug fixes should help get there as soon as possible.

The Reddit user wrote:

“The consensus nodes will be applying these fixes to their code as a patch and that will mean we will start to see higher transaction counts in each block if people start to pay small fees. This means that projects like Switcheo, Cryptogladiator and other high transaction projects will start to test the NEO platform in a good way.”

Investors are now able to buy NEO for just over $18 dollars. It has a current market capitalization of $1.23 billion dollars.

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