EOS News Today – September 24

  • EOSIO Version 1.8 Set to Help Users in Four Ways
  • EOSIO Version 1.8 Is the Key to Block.one’s Next Large Initiative

Cryptocurrency News Today – EOS.IO just successfully upgraded to version 1.8 in its first consensus hard fork. The new update would bring major enhancements to the blockchain to pave the way for a more scalable and secure future. This version focuses on letting users interact with the blockchain of EOSIO more affordably and with more functionality than previous versions of the network.

After the upgrade, the chief executive officer of Block.one (the company responsible for the development of EOSIO) – Brendan Blunmer said:

Congratulations #EOS, today’s 1.8 upgrade now allows application developers to offer a free and frictionless UX to their customers. Users no longer need to worry about resources.”

EOS Price Today – EOS / USD

NamePrice
eos
EOS
$3.08-1.41%

EOSIO Version 1.8 Set to Help Users in Four Ways

According to the breakdown of the upgrade by EOS Authority – block producer – the new version will help users in four ways. The update now provides the ability to bill network resource usage to external accounts, users can now rectify faulty transactions easily, decentralized apps would be less expensive to use, and the security of the network has improved enormously.

The firm revealed details about the upgrade a few months ago. However, the activation came after EOSIO was exploited through a network resource congestion attack. A cybercriminal was able to render the entire network unusable for just $1,200. The network was unusable for two hours while siphoning EOS worth more than $110,000 from gambling Dapp EOSPlay. Technical analysts in the community said that the latest version of the network would prevent future instances of network congestion attacks from happening.

Phil Smith – EOS developer – said that the network upgrade would allow decentralized apps on the network to maintain a minimal level of activity, even when the network is congested.

EOSIO Version 1.8 Is the Key to Block.one’s Next Large Initiative

Version 1.8 is reportedly the key to the next large initiative of Block.one – Voice. Block.one unveiled Voice during the first anniversary of EOS, on June 1. Block.one promotes Voice as a more transparent social media platform. The firm also frames Voice as a healthy social media network. Voice would follow Block.one and the other social media blockchain Dan Larimer – Steem.

The latest version is a step toward enhancing the blockchain of EOSIO while addressing some of the concerns after the network congestion exploit. The upgrade went live about twenty-four hours ago, so the full reaction of the community is yet to be seen. The sentiment of the update has not even reflected on the price of EOS.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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