Alberta, Calgary, September 25th, 2024, Chainwire
The EOS Network announces the successful completion of its landmark upgrade to Spring 1.0. This upgrade has introduced the Savanna consensus algorithm, marking a new era in performance, reliability and speed on the network. By enhancing transaction finality to 1 second, EOS has achieved a more than 100-fold improvement over previous iterations. This rapid advancement in speed, security, and scalability sets the stage for future cryptographic breakthroughs.
This upgrade reflects the shared vision and dedication of EOS’s global decentralized community, underscoring its commitment to pioneering blockchain innovation.
Bart Wyatt, CTO of the EOS Network Foundation, articulated the significance of this strategic development: “With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, we’re achieving something rare in the blockchain world: changing our core consensus algorithm. Very few Layer 1 blockchains have ever done this. I can think of only a handful—Ethereum being the most well known. In doing so, we’re standing on hallowed ground. By bringing EOS to an industry-leading 1-second finality, we’ve taken a massive leap forward, placing EOS at the forefront of blockchain innovation. This isn’t just a technical achievement—it’s about the EOS community taking full ownership.”
EOS Network has completed the transition to Antelope Spring 1.0, providing a non-contentious upgrade path. This process demonstrated the collaborative effort within the EOS community, involving extensive beta testing and a distributed activation, carried out by global block producers (BPs).
The Savanna consensus algorithm revolutionizes blockchain efficiency. By integrating advanced cryptographic techniques such as aggregate BLS signatures, Savanna ensures rapid, irreversible transactions, boosting both network security, scalability and unlocking new use cases in the blockchain industry.
Yves La Rose, CEO of the EOS Network Foundation: “Spring 1.0 marks a pivotal moment for the blockchain industry, introducing the Savanna consensus algorithm with 1-second Instant Finality via cutting-edge BLS cryptographic advancements. This upgrade offers unmatched transaction speed, reliability, and security, laying the foundation for next-generation decentralized applications to flourish. Achieving this was a collaborative feat involving internal teams and external partners, positioning EOS as one of the most technically advanced platforms.
As a transformative phase, Spring 1.0 enables new growth opportunities and adoption within the ecosystem. It unlocks unprecedented value for developers and anyone invested in the long-term potential of blockchain innovation. With proven technology and robust infrastructure, the future presents limitless possibilities as EOS propels the industry forward”
As EOS Network forges ahead with Spring 1.0, it strengthens the foundation for continued innovation and community development. This significant leap in technology unlocks a vast array of new use cases, enhancing the EOS ecosystem.
Follow EOS Network on Twitter or Telegram to stay up to date with the latest enhancements, updates and upgrades to the network.
EOS Network Foundation
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
Contact
Chief Communications Officer
Zack Gall
EOS Network Foundation
[email protected]
Disclaimer and Risk Warning
This article is a sponsored press release and is for informational purposes only. Crypto News Land does not endorse or is responsible for any content, quality, products, advertising, products, accuracy or any other materials on this article. This content does not reflect the views of Crypto News Land, nor is it intended to be used for legal, tax, investment, or financial advice. Crypto News Land will not be held responsible for image copyright matters. Readers are advised to always do your own research before making any significant decisions.
The post EOS Network significantly upgrades with 1-Second Transaction Finality appeared first on Crypto News Land.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed