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Required API update: AutoRenewPeriod

about a month ago by Gehrig Kunz

Yesterday’s Testnet update and today’s Mainnet update will introduce a change to the allowed renewal period and durations for crypto accounts. This period will be fixed to approximately 3 months (7890000 seconds). Any other value will result in an error AUTORENEW_DURATION_NOT_IN_RANGE.

To ensure the creation of accounts, smart contracts, and files runs smoothly, please add the following to your account create transactions (in java) .setAutoRenewPeriod(Duration.ofSeconds(7890000)).

The transaction fee for creating such an account with a single key and with a single transaction signature is 8,594,289 tinybars today (this may vary with hbar/USD fluctuations). Make sure you allow for sufficient headroom in your transaction (e.g. .setTransactionFee(80_000_000) which is 10x the above amount, you will only be charged the actual amount).

In 3 months’ time, the accounts will automatically renew themselves for 3 months if there are sufficient funds in the account, or whatever period the account can afford to renew itself for. In the absence of funds, the account will be deleted with no possibility of recovery.