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EOSIO Network Implements Upgrade Through Hard Fork

EOSIO Network Implements Upgrade Through Hard Fork

EOSIO recently successfully executed its first consensus hard fork. The hard fork comes with the network’s v1.8 upgrade, and the new version comes with enhancements to the blockchain network.

EOSIO hard fork and blockchain upgrades

The upgrade to EOSIO’s network is designed to make the system more scalable and secure in the future.

The v1.8 that has come through the hard fork allows users of the blockchain to engage more cheaply with the network. It also brings more functionality to the network in comparison to previous versions of it.

According to Brendan Blumer, CEO of Block.one, the upgrade will allow developers to achieve free and frictionless UX to their customers. Block.one is responsible for the development of EOSIO.

v1.8 upgrade

A breakdown of the v1.8 upgrade to EOSIO’s blockchain network shows that the hard fork will improve the system through four different ways.

The upgrade will improve the network’s security, improve the methods through which faulty transactions are rectified, reduce the cost of using dApps, and give users the ability to bill resource usage to external accounts.

The upgrade has only been activated now, but the details of the v1.8 were revealed a few months ago. The application of the upgrade came after the network suffered a network resource congestion attack.

An attacker was able to cripple the system for about two hours, and during this period, most of EOSIO’s users could not access the network. The attackers stole $110,000 worth of EOS from EOSPlay, a gambling dApp on the network.

Members of the EOSIO community argue that the upgrade will be able to help prevent any further congestion attacks.

According to Phil Smith, an EOS developer, the upgrade will allow all dApps to maintain a minimum level of activity even if the network is congested.

This is one of the areas that made EOSPlay vulnerable, and the v1.8 upgrade addresses the problem.

The groundwork for EOS Voice

The upgrade to EOSIO’s blockchain is said to be a vital part of Block.one’s Voice. The platform was announced on the 1st of June, and it is touted as a healthy social media platform.

Voice would join the list of social media platforms developed by Block.one. Users will directly benefit from their ideas and any engagement they participate in on the social media platform.

Voice, through the upgrade to EOSIO’s blockchain, will allow developers to pay for network resources.

Makers of dApps are now able to fund payments for RAM, CPU, and any other network resources that are needed on behalf of their applications’ users.

The upgrade went online 24 hours ago, and community members are yet to react to these changes fully.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.