EOS Network significantly upgrades with 1-Second Transaction Finality

Alberta,
Calgary,
September
25th,
2024,
Chainwire

The
EOS
Network
announces
the
successful
completion
of
its
landmark
upgrade
to
Spring
1.0.
This
upgrade
has
introduced
the
Savanna
consensus
algorithm,
marking
a
new
era
in
performance,
reliability
and
speed
on
the
network.
By
enhancing
transaction
finality
to
1
second,
EOS
has
achieved
a
more
than
100-fold
improvement
over
previous
iterations.
This
rapid
advancement
in
speed,
security,
and
scalability
sets
the
stage
for
future
cryptographic
breakthroughs.

This
upgrade
reflects
the
shared
vision
and
dedication
of
EOS’s
global
decentralized
community,
underscoring
its
commitment
to
pioneering
blockchain
innovation.

Bart
Wyatt,
CTO
of
the
EOS
Network
Foundation,
articulated
the
significance
of
this
strategic
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.
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.”

EOS
Network
has
completed
the
transition
to
Antelope
Spring
1.0,
providing
a
non-contentious
upgrade
path.
This
process
demonstrated
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
integrating
advanced
cryptographic
techniques
such
as
aggregate
BLS
signatures,
Savanna
ensures
rapid,
irreversible
transactions,
boosting
both
network
security,
scalability
and
unlocking
new
use
cases
in
the
blockchain
industry. 

Yves
La
Rose,
CEO
of
the
EOS
Network
Foundation:
“Spring
1.0
marks
a
pivotal
moment
for
the
blockchain
industry,
introducing
the
Savanna
consensus
algorithm
with
1-second
Instant
Finality
via
cutting-edge
BLS
cryptographic
advancements.
This
upgrade
offers
unmatched
transaction
speed,
reliability,
and
security,
laying
the
foundation
for
next-generation
decentralized
applications
to
flourish.
Achieving
this
was
a
collaborative
feat
involving
internal
teams
and
external
partners,
positioning
EOS
as
one
of
the
most
technically
advanced
platforms.

As
a
transformative
phase,
Spring
1.0
enables
new
growth
opportunities
and
adoption
within
the
ecosystem.
It
unlocks
unprecedented
value
for
developers
and
anyone
invested
in
the
long-term
potential
of
blockchain
innovation.
With
proven
technology
and
robust
infrastructure,
the
future
presents
limitless
possibilities
as
EOS
propels
the
industry
forward”

As
EOS
Network
forges
ahead
with
Spring
1.0,
it
strengthens
the
foundation
for
continued
innovation
and
community
development.
This
significant
leap
in
technology
unlocks
a
vast
array
of
new
use
cases,
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. 

EOS
Network
Foundation

The
EOS
Network
Foundation
(ENF)
was
forged
through
a
vision
for
a
prosperous
and
decentralized
future.
Through
our
key
stakeholder
engagement,
community
programs,
ecosystem
funding,
and
support
of
an
open
technology
ecosystem,
the
ENF
is
transforming
Web3.
Founded
in
2021,
the
ENF
is
the
hub
for
EOS
Network,
a
leading
open
source
platform
with
a
suite
of
stable
frameworks,
tools,
and
libraries
for
blockchain
deployments.
Together,
we
are
bringing
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]