3.1.x
Read about the minor cheqd network upgrade, moving to version 3.1.x
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Read about the minor cheqd network upgrade, moving to version 3.1.x
Last updated
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Version 3.1.x brought an increase in gas prices, moved fee abstraction to production, made improvements to our DID Document logic and general patches and fixes for upstream Cosmos changes. Here's what we changed:
Increase gas price by roughly 100x.
Bumps minimum gas price to 5000ncheq.
This will be implemented for all transactions, payments, voting, commission, rewards on cheqd (except for identity transactions). This will also increase the amount of $CHEQ burnt per transaction in accordance with the v3.x changes to fee market and EIP-1559 style burn. This has .
Identity price changes will be included in another parameter change proposal.
In preparation for Dock migrating all of their DIDs to cheqd mainnet, we are making some minor changes to how our ledger handles identity key validation, to allow for Dock to use cheqd DID Documents to embed keys for specific BBS+ signature types. This will also allow for other innovations, such as potentially storing X.509 certificate keys (or other data such as metadata) within verification relationships in cheqd DID Documents.
Loosening of the verificationMethod validation logic to support other key types in verification relationships that do not necessarily need to be validated against the ledger.
Adding the ability for arbitrary data, e.g. metadata to be added within the assertionMethod section of a cheqd DID Document.
Upstream security updates of Cosmos SDK packages.
Update the fee abstraction module to enable on-the-fly conversions between $CHEQ and any IBC-enabled asset for use in both identity and general transactions.
This will enable cheqd's identity functionality, such as DIDs and DID-Linked Resources to be written using MiCA regulated assets such as USDC or EURe.
After testing a beta version, this takes the feature to being production-ready.
$CHEQ maintains its full utility being used as the host token, facilitating fee abstraction in the background.
Higher burn rates: All $CHEQ transactions will now see a higher base price and associated burn, helping create deflationary mechanisms
More identity adoption (DID compatibility): DID Document changes allow Dock to begin their full identity migration over to cheqd.
More identity adoption (more currency compatibility): With support for a wider array of currencies on the network, including MiCA regulated stablecoins, we are expecting adoption from a broader set of enterprise customers - meaning more DIDs, DLRs and burns.