Savanna

Rose

Spring

Foundation

<div>
 <p>The <a href="https://eosnetwork.com/" target="_self" rel="noopener noreferrer nofollow"><span>EOS Network</span></a> has successfully launched its Spring 1.0 update, which will introduce the project’s Savanna consensus algorithm and reduce the blockchain’s transaction <a href="https://coinpaper.com/5374/what-is-block-finality-in-crypto-transaction-security" target="_self" rel="noopener noreferrer nofollow"><span>finality</span></a> time 100-fold to just one second.</p>
 <p>“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 the CTO of the EOS Network Foundation, Bryan Wyatt, in a press release. “Very few Layer 1 blockchains have ever done this. I can think of only a handful—Ethereum being the most well known,” Wyatt added.</p>
 <h2 id="enabling-next-generation-decentralized-applications">Enabling Next-Generation Decentralized Applications</h2>
 <p>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.</p>
 <p>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).</p>
 <p>Yves La Rose, CEO of the <a href="https://coinpaper.com/4747/eos-network-launches-250-m-staking-program" target="_self" rel="noopener noreferrer nofollow"><span>EOS</span></a> Network Foundation, mentioned the strategic importance of the Spring 1.0 upgrade. “This upgrade offers unmatched transaction speed, reliability, and security, laying the foundation for next-generation decentralized applications to flourish,” La Rose said.</p>
 <p>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.</p>
 <h2 id="about-eos-network-foundation">About EOS Network Foundation</h2>
 <p>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.&nbsp;</p>
 <p>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.</p>
</div>

EOS Network Achieves 1-Second Finality Through Spring 1.0 Update

Table of Contents

Coinpaper.com

Other articles published on Sep 25, 2024

New Development on the Fate of Terra (LUNA) – Developers Released an Official Statement

Coinpedia Fintech News

XRP Price Could ‘Completely Rip Higher,’ Says Analyst: Here’s His Outlook

Ethereum (ETH) Burn Rate Spikes 168%, What's Happening?

Michael Saylor's MicroStrategy to Issue $700M in Senior Convertible Notes to Buy More Bitcoin

Polymarket Considering Token Launch Amidst New $50M Fundraising Talks: Report

Join our free newsletter for daily crypto updates!