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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Trump Calls for Passage of Clarity Act to Boost U.S. Crypto Market

chest

President Trump called for Congress to pass the Clarity Act to establish federal rules for digital assets and maintain U.S. leadership in the crypto market.

user avatarDavid Robinson

GTA 6 Gameplay Leaks Cause Stock Decline for Take Two

chest

This week, the highly anticipated release of GTA 6 from Rockstar Games and Take Two Interactive has been marred by several gameplay leaks, causing Take Two's stock to decline over 15%.

user avatarAndrew Smith

Coinbase Refocuses Base App Strategy After Initial Setbacks

chest

Coinbase shifts its strategy for the Base App, moving away from social features to focus on trading and AI tools.

user avatarJacob Williams

Coinbase Launches Leveraged Crypto Derivatives on Base App

chest

Coinbase launches leveraged crypto derivatives on the Base App, allowing users to trade perpetual futures with up to 50x leverage.

user avatarZainab Kamara

Palantir Technologies Reports Stellar Earnings and Revenue Growth

chest

Palantir Technologies has reported a 93% year-over-year revenue surge and a 225% increase in earnings, positioning itself as a leading AI solution.

user avatarSon Min-ho

US Tech Stocks Experience Significant Gains Driven by AI Boom

chest

The US tech stock market has seen substantial gains over the last year, driven by advancements in AI technology.

user avatarAyman Ben Youssef

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.