Thursday, January 24, 2019

Block.one eyes 35% increase in transaction speeds with EOSIO 1.6.0 blockchain update

EOS coin

Block.one announced today that it had launched the latest version of the EOSIO blockchain 1.6.0.

The newest update to the blockchain’s code will help it gain greater speeds on the network and make it cheaper as well.

Major Performance Upgrade

The internal testing of the EOSIO version 1.6.0 has revealed that the new code could greatly improve the performance of the blockchain.

The testing revealed that it could improve the transaction speeds on the network by 35%.

Note that the current maximum speed on the blockchain is 3996 transactions per second, which is among the highest of any public blockchain network.

With this update, the blockchain will also reduce CPU costs and decrease latency in the network, therefore making it cheaper to run applications.

The responsiveness of these applications will also improve.

What’s the Goal of EOSIO?

According to Block.One CEO Brendan Blumer, their aim to help drive mass adoption of blockchain technology.

He added:

“As part of the community that continues to work on the EOSIO software and its corresponding advancements, we hope to play a leading role in the next generation of blockchains through our deep engineering talent and our dedication to a future of global commerce and communications based on blockchain.”

Dan Larimer, the CTO of Block.one further noted that the software update shows the expanding capability of the EOSIO blockchain, especially when it comes to handling a larger volume of transactions on the network.

EOSIO’s native digital asset EOS is the 5th largest in the world with over $2.2 billion in market capitalization.

It is also one of the most popular destinations for decentralized application development along with Ethereum and Tron.

It has more than 285 DApps deployed on its network.

According to DappRadar, the dApp with the highest number of users in the past 24 hours was PRA CandyBox- with 7,900 users. It operates on the EOS network.

Block.one eyes 35% increase in transaction speeds with EOSIO 1.6.0 blockchain update was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.



A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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