EOS Network Unveils Spring 1.0 with Savanna Consensus Algorithm

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Spring 1.0 Update
  2. New Opportunities for Decentralized Applications
  3. About the EOS Network Foundation


    4. The EOS Network has successfully launched its Spring 1.0 update, which introduces the Savanna consensus algorithm and reduces the blockchain’s transaction finality time 100-fold to just one second.

    Spring 1.0 Update

    With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, the EOS Network is achieving a rare feat in the blockchain world: changing its 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,” said the CTO of the EOS Network Foundation, Bryan Wyatt, in a press release.

    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.Bryan Wyatt

    New Opportunities for Decentralized Applications

    EOS’s transition to the Spring 1.0 protocol was executed smoothly, thanks to collaborative efforts from its global network of block producers (BPs) and extensive beta testing. The Savanna consensus is made possible through various cutting edge cryptographic techniques, including aggregate Boneh-Lynn-Shacham (BLS) signatures. These various techniques combined enhance the overall security and scalability of the EOS Network, which subsequently unlocks a plethora of possibilities for decentralized applications (dApps). “This upgrade offers unmatched transaction speed, reliability, and security, laying the foundation for next-generation decentralized applications to flourish,” mentioned Yves La Rose, CEO of the EOS Network Foundation.

    About the EOS Network Foundation

    The EOS Network Foundation (ENF) was established in 2021, and leads the charge in transforming Web3 through community engagement, ecosystem funding, and the development of open-source blockchain technology. As the central hub for EOS, the 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.

    As the EOS Network forges ahead with the Spring 1.0 upgrade, it paves the way for continued community-driven innovation. With a faster, more secure network, developers and businesses can explore new applications and possibilities, further solidifying EOS’s place in the competitive blockchain landscape.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Criminals Use AI-Powered Tools for Cyber Attacks in India

Criminals are using AI-powered tools to conduct financially motivated cyber attacks against entities in India.

user avatarAisha Farooq

MEXC Enhances Security Measures and Capital Reserves

MEXC enhances its security framework and capital reserves by adding 1,000 BTC to its Futures Insurance Fund, aiming to protect user assets and provide a risk buffer during extreme market conditions.

user avatarTenzin Dorje

MEXC Unveils AI Trading Report with Key Insights from Crypto Traders

MEXC has released an AI Trading Report based on a survey of 3,708 crypto traders, highlighting the use of AI in trading strategies and user preferences for control and risk management.

user avatarBayarjavkhlan Ganbaatar

BingX EU Achieves MiCA License to Expand Crypto Services in Europe

BingX EU MEGE zweite GmbH has obtained a MiCA license from Austria's FMA, allowing it to offer regulated crypto services across 29 EEA countries.

user avatarMohamed Farouk

Zcash Faces 11% Decline Amid Growing Market Concerns

Zcash has experienced an 11% decline in the past 24 hours, raising concerns about market stability and the impact of AI on cryptography.

user avatarElias Mukuru

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.