{"id":172188,"date":"2024-09-25T16:32:51","date_gmt":"2024-09-25T16:32:51","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172188"},"modified":"2024-09-25T16:32:54","modified_gmt":"2024-09-25T16:32:54","slug":"eos-network-foundation-announces-1-second-transaction-finality-with-spring-1-0-hard-fork","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/eos-network-foundation-announces-1-second-transaction-finality-with-spring-1-0-hard-fork\/","title":{"rendered":"EOS Network Foundation Announces 1-Second Transaction Finality with Spring 1.0 Hard Fork"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\"><strong>EOS Network has successfully launched its Spring 1.0 update<\/strong>, introducing the Savanna consensus algorithm and reducing the transaction finality time to just one second.<\/li>\n<li style=\"text-align: justify\">The transition to Spring 1.0 was made possible thanks to the <strong>collaboration of block producers and extensive beta testing.<\/strong><\/li>\n<li style=\"text-align: justify\">The Savanna algorithm, based on advanced cryptographic techniques, <strong>will improve the security and scalability of the network<\/strong>.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><a href=\"https:\/\/crypto-economy.com\/what-is-eos\/\" target=\"_blank\" rel=\"noopener\">EOS<\/a> Network has successfully announced the launch of its Spring 1.0 update<\/strong>, a fundamental advancement that introduces the Savanna consensus algorithm and <strong>reduces the transaction finality time of its blockchain to just one second.<\/strong><!--more--><\/p>\n<p style=\"text-align: justify\">This development will be crucial for the blockchain industry, as few Layer 1 networks have managed to implement a <strong>change in their consensus algorithm<\/strong>, with Ethereum being one of the clearest examples. Bryan Wyatt, CTO of the EOS Network Foundation, stated that <strong>the transition to Spring 1.0 was carried out smoothly<\/strong>, thanks to the collaboration of a global network of block producers and an extensive beta testing process.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">EOS Spring 1.0 Hard Fork Completed \u2705<\/p>\n<p>The <a href=\"https:\/\/twitter.com\/hashtag\/EOS?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#EOS<\/a> Network has upgraded to Antelope Spring 1.0, introducing the groundbreaking Savanna consensus algorithm.\u00a0<\/p>\n<p>This monumental upgrade propels EOS to the forefront of blockchain innovation, cutting transaction finality to just 1 second\u2026 <a href=\"https:\/\/t.co\/6jtg8X8z9A\" target=\"_blank\">pic.twitter.com\/6jtg8X8z9A<\/a><\/p>\n<p>&mdash; EOS Network Foundation (@EOSNetworkFDN) <a href=\"https:\/\/twitter.com\/EOSNetworkFDN\/status\/1838943123151491559?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 25, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">The new Savanna algorithm is <strong>based on cutting-edge cryptographic techniques<\/strong>, including aggregate Boneh-Lynn-Shacham (BLS) signatures. These <strong>will enhance both the security and scalability<\/strong> of the EOS network.<\/p>\n<p style=\"text-align: justify\">The improvement in infrastructure not only optimizes the system&#8217;s performance but also <strong>opens up new opportunities for the development of decentralized applications (dApps),<\/strong> allowing them to run with greater speed and efficiency.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-171968\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/eos-crypto.jpg\" alt=\"eos blockchain post\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/eos-crypto.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/eos-crypto-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/eos-crypto-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2 style=\"text-align: justify\">EOS Network Builds a Faster and Safer Future<\/h2>\n<p style=\"text-align: justify\">Yves La Rose, CEO of the <a href=\"https:\/\/coinmarketcap.com\/currencies\/eos\/\" target=\"_blank\" rel=\"noopener\"><strong>EOS<\/strong> <\/a>Network Foundation, spoke about the strategic importance of the upgrade, emphasizing that it <strong>offers unprecedented transaction speed, reliability, and security<\/strong>. These features will establish a solid foundation for the growth of next-generation decentralized applications, which could transform the user experience and expand the blockchain ecosystem.<\/p>\n<p style=\"text-align: justify\">The EOS Network Foundation, established in 2021, <strong>plays a crucial role in the evolution and development of <a href=\"https:\/\/crypto-economy.com\/what-is-web3\/\" target=\"_blank\" rel=\"noopener\">Web3<\/a><\/strong> through community engagement, ecosystem funding, and the development of open-source blockchain technology. The foundation supports a suite of tools and libraries for blockchain development, empowering the global community to build a decentralized future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR EOS Network has successfully launched its Spring 1.0 update, introducing the Savanna consensus algorithm and reducing the transaction finality time to just one second. The transition to Spring 1.0 was made possible thanks to the collaboration of block producers and extensive beta testing. The Savanna algorithm, based on advanced cryptographic techniques, will improve the &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"EOS Network Foundation Announces 1-Second Transaction Finality with Spring 1.0 Hard Fork\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/eos-network-foundation-announces-1-second-transaction-finality-with-spring-1-0-hard-fork\/#more-172188\" aria-label=\"More on EOS Network Foundation Announces 1-Second Transaction Finality with Spring 1.0 Hard Fork\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":172190,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[108,70,74],"tags":[4620,4675,4712,9906],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172188"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172188"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172188\/revisions"}],"predecessor-version":[{"id":172191,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172188\/revisions\/172191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172190"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}