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Cryptocurrency News Articles
EOS Network Announces Successful Completion of Landmark Upgrade to Spring 1.0
Sep 26, 2024 at 12:06 am
This upgrade has introduced the Savanna consensus algorithm, marking a new era in performance, reliability and speed on the network.
The EOS Network has announced the successful completion of its Spring 1.0 upgrade, introducing the Savanna consensus algorithm and achieving 1-second transaction finality. This marks a significant improvement over previous iterations, enhancing performance, reliability, and speed on the network.
The upgrade was made possible by the collective efforts of EOS's global decentralized community, whose shared vision and dedication drove this critical 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,” said Bart Wyatt, CTO of the EOS Network Foundation. “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.”
As part of the non-contentious upgrade path, EOS Network smoothly transitioned to Antelope Spring 1.0. This process involved extensive beta testing and a distributed activation carried out by global block producers (BPs), showcasing the collaborative spirit within the EOS community.
The introduction of the Savanna consensus algorithm marks a革命 in blockchain efficiency. By integrating advanced cryptographic techniques like aggregate BLS signatures, Savanna ensures rapid, irreversible transactions, boosting both network security and scalability. This opens up new possibilities for diverse use cases across the blockchain industry.
“Spring 1.0 brings the Savanna consensus algorithm with 1-second Instant Finality to the blockchain industry, thanks to the bleeding-edge BLS cryptographic advancements,” said Yves La Rose, CEO of the EOS Network Foundation. “This upgrade offers transaction speed, reliability, and security that are unmatched, setting the stage for next-generation decentralized applications to thrive. Achieving this involved internal teams and external partners, showcasing EOS as one of the most technically advanced platforms out there.
As we move into this transformative phase with Spring 1.0, we open up new avenues for growth and adoption within the ecosystem. This significant leap in technology unlocks a vast array of new use cases, ultimately 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.
About EOS Network Foundation
The EOS Network Foundation (ENF) is building the foundation for a prosperous and decentralized future through its key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem. Founded in 2021, the ENF serves as the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, they are enabling the innovations that our community builds and are forging a stronger future for all.
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