EOS network achieves 1 second transaction finality major upgrade
By increasing the transaction finality time to 1 second, EOS achieved more than 100 times improvement compared to previous iterations.Author: EOS Network Foundation
On September 25, 2024, the EOS Network announced the successful completion of the milestone Spring 1.0 upgrade. This upgrade introduced the Savanna consensus algorithm, marking a new era of network performance, reliability, and speed. By increasing the transaction finality time to 1 second, EOS achieved over 100 times improvement compared to previous iterations. The rapid advancements in speed, security, and scalability lay the foundation for future breakthroughs in cryptocurrency.
This upgrade reflects the shared vision and dedication of the global decentralized EOS community, emphasizing its commitment to pioneering blockchain innovation.
Bart Wyatt, Chief Technology Officer of the EOS Network Foundation, elaborated on the significance of this strategic development: "With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, we have accomplished something rare in the blockchain world: changing our core consensus algorithm. Few Layer 1 blockchains have ever done this. I can only think of a handful—Ethereum being the most notable. By doing so, we stand on sacred ground. By bringing EOS to an industry-leading 1-second finality, we take a giant leap forward, placing EOS at the forefront of blockchain innovation. This is not just a technical achievement—it's about the complete ownership of the EOS community."
The EOS Network has completed the transition to Antelope Spring 1.0, providing a clear upgrade path. This process showcased the collaborative efforts within the EOS community, including extensive beta testing and distributed activation conducted by global block producers (BPs).
The Savanna consensus algorithm revolutionizes blockchain efficiency. By integrating advanced cryptographic techniques such as aggregated BLS signatures, Savanna ensures fast, irreversible transactions, enhancing network security and scalability while unlocking new use cases in the blockchain industry.
Yves La Rose, Chief Executive Officer of the EOS Network Foundation, stated: "Spring 1.0 marks a pivotal moment in the blockchain industry, introducing the Savanna consensus algorithm with 1-second instant finality through cutting-edge BLS cryptographic advancements. This upgrade provides unparalleled transaction speed, reliability, and security, laying the groundwork for the flourishing of the next generation of decentralized applications. Achieving this has been a feat of collaboration between our internal team and external partners, positioning EOS as one of the most technologically advanced platforms."
As a transformative phase, Spring 1.0 brings new growth opportunities and adoption to the ecosystem. It unlocks unprecedented value for developers and anyone investing in the long-term potential of blockchain innovation. With mature technology and robust infrastructure, the future presents limitless possibilities as EOS drives the industry forward.
As the EOS Network advances with Spring 1.0, it lays the groundwork for ongoing innovation and community development. This significant technological leap unlocks a multitude of new use cases, enhancing the EOS ecosystem.
Areg Hayrapetian, Engineering Director of the EOS Network Foundation and Chief Architect of the Savanna Consensus Algorithm:
"The development of the Savanna consensus algorithm adopted a more rigorous approach, replacing the previously unnamed traditional consensus algorithm of EOS. We utilized proof of concept to identify and fix design flaws early, conducted multiple iterative tests, and applied mathematical analysis to ensure the algorithm maintains critical liveness and security—core elements we want any blockchain to achieve: being available when needed, and when a transaction is marked as final, it will not be revoked. With our work on Savanna, EOS users can take these things for granted and enjoy a significant reduction in final transaction time—from minutes to just one second."
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EOS Network Foundation
The EOS Network Foundation (ENF) was established based on a vision for a prosperous and decentralized future. Through the engagement of our key stakeholders, community programs, ecosystem funding, and support for an open technology ecosystem, ENF is transforming Web3. Founded in 2021, ENF is at the center of the EOS Network, a leading open-source platform with a stable framework, tools, and libraries for blockchain deployment. Together, we bring community-built innovation and are committed to creating a better future for everyone.
