Alberta, Calgary, September 25th, 2024, Chainwire
The EOS Network is excited to announce the successful completion of its groundbreaking upgrade to Spring 1.0. This upgrade introduces the Savanna consensus algorithm, ushering in a new era of performance, reliability, and speed on the network. By improving transaction finality to 1 second, EOS has achieved a more than 100-fold enhancement compared to previous iterations. This rapid progress in speed, security, and scalability paves the way for future cryptographic advancements.
This upgrade is a testament to the shared vision and dedication of EOS’s global decentralized community, highlighting its commitment to pioneering blockchain innovation.
Bart Wyatt, the CTO of the EOS Network Foundation, emphasized the significance of this strategic development: “With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, we are accomplishing something rare in the world of blockchain: changing our core consensus algorithm. Only a few Layer 1 blockchains have ever done this, with Ethereum being the most well-known example. By bringing EOS to an industry-leading 1-second finality, we have taken a huge leap forward, positioning EOS at the forefront of blockchain innovation. This achievement is not just a technical milestone; it signifies the EOS community taking full ownership.”
EOS Network has successfully transitioned to Antelope Spring 1.0, providing a seamless upgrade path. This process exemplifies the collaborative effort within the EOS community, involving extensive beta testing and a distributed activation carried out by global block producers (BPs).
The Savanna consensus algorithm revolutionizes blockchain efficiency by incorporating advanced cryptographic techniques like aggregate BLS signatures. Savanna ensures fast and irreversible transactions, enhancing network security, scalability, and unlocking new possibilities in the blockchain industry.
Yves La Rose, the CEO of the EOS Network Foundation, stated: “Spring 1.0 marks a pivotal moment for the blockchain industry as we introduce the Savanna consensus algorithm with 1-second Instant Finality through cutting-edge BLS cryptographic advancements. This upgrade offers unparalleled transaction speed, reliability, and security, laying the foundation for the flourishing of next-generation decentralized applications. Achieving this milestone was a collaborative effort involving internal teams and external partners, positioning EOS as one of the most technologically advanced platforms.”
As a transformative phase, Spring 1.0 opens up new growth opportunities and adoption within the ecosystem. It unlocks unprecedented value for developers and stakeholders who believe in the long-term potential of blockchain innovation. With proven technology and robust infrastructure, the future holds limitless possibilities as EOS drives the industry forward.
As EOS Network continues to progress with Spring 1.0, it strengthens the foundation for ongoing innovation and community development. This significant technological leap unlocks a wide range of new use cases, enhancing the EOS ecosystem.
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EOS Network Foundation
The EOS Network Foundation (ENF) was established with a vision for a prosperous and decentralized future. Through stakeholder engagement, community programs, ecosystem funding, and support for an open technology ecosystem, ENF is transforming Web3. Founded in 2021, ENF serves as the hub for EOS Network, a leading open-source platform with a comprehensive suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are driving the innovations that our community builds and are committed to a stronger future for all.
Contact
Chief Communications Officer
Zack Gall
EOS Network Foundation
[email protected]
