The network security of the proof-of-stake distributed ledger Hedera is about to be improved.
Hedera’s well-known DeFi platform SaucerSwap tweeted that the mainnet would be upgraded to version 0.39.0 at 4:00 PM UTC. A plan by SaucerSwap to integrate contract allowances and approvals into its online service is hinted at.
The third-generation native entity capabilities of Hedera is combined with a very optimised Ethereum Virtual Machine (EVM) in the HSCS (Hedera Smart Contract Service).
The July 11 HSCS upgrade is anticipated to significantly improve user, dApp, and network security, as was previously announced in a blog post. The UniswapV2 router implementation used by the SaucerSwap core maintainers has been modified and re-evaluated in response to these modifications.
In addition, SaucerSwap disclosed that it will introduce a new router contract and make various changes to its front-end prior to the Hedera Smart Contract Service (HSCS) security model upgrade on July 11, 2023.
According to DefiLlama statistics, SaucerSwap is presently the second-largest protocol by TVL on Hedera, accounting for $17.5 million.
The Hedera network experienced a boom in activity, with transaction volumes increasing by almost 40 times, according to Messari’s Q1’23 report. Messari attributed this expansion to current DEXes like SaucerSwap continuing to develop new features and functionalities.
The Hedera Governing Council, a coalition of 29 independent and unaffiliated organisations that together run and oversee the Hedera Network, has also grown throughout the course of the year.
The Hedera Governing Council welcomed Dell Technologies, a leading provider of technology, in Q1. The Hedera Network’s native token, HBAR, has increased by 3.11% in the previous day to reach $0.048 at the time of writing.
