The EOS Network has successfully launched its Spring 1.0 update, introducing the Savanna consensus algorithm and reducing the blockchain’s transaction finality time 100-fold to just one second.
Introduction to Spring 1.0
With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, EOS Network is achieving something rare in the blockchain world: changing their core consensus algorithm. Very few Layer 1 blockchains have ever done this. As Bryan Wyatt, the CTO of the EOS Network Foundation, stated, "I can think of only a handful—Ethereum being the most well known."
Benefits of the Update
EOS’s transition to the Spring 1.0 protocol was executed smoothly, thanks to collaborative efforts from its global network of block producers and extensive beta testing. The Savanna consensus is enabled through various cutting-edge cryptographic techniques, including aggregate Boneh-Lynn-Shacham (BLS) signatures, enhancing the overall security and scalability of the EOS Network. This upgrade opens up numerous possibilities for decentralized applications (dApps). Yves La Rose, CEO of the EOS Network Foundation, emphasized the strategic importance of the Spring 1.0 upgrade, noting that it provides unmatched transaction speed, reliability, and security.
About the EOS Network Foundation
The EOS Network Foundation (ENF) was established in 2021, leading the charge in transforming Web3 through community engagement, ecosystem funding, and the development of open-source blockchain technology. As the central hub for EOS, ENF supports an ever-evolving suite of frameworks, tools, and libraries for blockchain development, empowering the global community to innovate and build a decentralized future.
With the Spring 1.0 update, EOS Network continues to pave the way for community-driven innovation, offering a faster and more secure network.
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