The first-ever consensus upgrade has just been successfully integrated on EOSIO. The v1.8 upgrade brings in “major enhancements” to the blockchain in hopes of “paving the way for a more secure and scalable future.”
The version 1.8 upgrade takes aim on allowing its users to get involved with the EOSIO blockchain in a more cost-effective way and with more functionality than the previous versions of the network.
After the upgrade, the chief executive of Block.one, Brendan Blumer said:
(For those that don’t know, Block.one is the company responsible for EOSIO’s development)
According to the block producer EOS Authority’s rundown of the new update, version 1.8 will look to aid users in several ways including the ability to bill a network resource usage to outside accounts, faulty transactions can now be more easily fixed, using dApps will cost much less than it was and the security of the network has been “enhanced.”
As reported by CryptoSlate:
“Activation of v1.8 comes shortly after EOSIO was exploited through a network resource congestion attack. For just $1,200 an attacker was able to render the network “unusable” for two hours for many users while siphoning over $110,000 in EOS from the gambling dApp EOSPlay.”
Block.one has said that “through a truly self-sustaining economy of ideas, users will directly benefit from their ideas and engagement on the platform.” It seems they are attempting to set the flagship social network apart from big names like Twitter and Facebook, who are getting ready to release the controversial Libra stablecoin.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!