The EOS Network Foundation has launched Spring 1.0 on its Jungle testnet, featuring the new Savanna consensus algorithm. This upgrade promises to increase EOS transaction performance by over 100 times compared to previous versions, offering immediate finality for transactions.
Spring 1. 0 brings new features designed to improve the security and privacy aspects of the EOS blockchain. The group’s BLS signature allows for the verification of transactions in a very short time taking milliseconds.
However, the upgrade introduces a customary Block Producer position into Block Proposers and Block Finalizers. This aims to decentralize network governance and improve efficiency by separating the creation of transactions from the confirmation of blocks.
The EOS Network anticipates a transition to the Spring 1.0-enabled mainnet by the end of July 2024, with a hard fork scheduled for July 31st. This transition period will ensure that all nodes are upgraded to accommodate the new features and improvements offered by Spring 1.0.
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