EOSIO is the native infrastructure to the EOS
currency. EOSIO has been developed to be the worlds most powerful infrastructure for decentralised applications. EOSIO is scalable and can support the facilitation of thousands of decentralised applications, through a simple to use web-tool kit. EOSIO is an on-going project, supported by the EOS token and a part of a movement which only seems to be driving the value and reputation of both EOS and EOSIO, forward.
At the end of last week, we saw the release of EOSIO Dawn 4.0, an upgrade to the month-or-so old Dawn 3.0 version. According to a Medium post by Daniel Larimer, the team at block.one have spent the past month improving on Dawn 3.0, cleaning up the capability and stability of the EOSIO software. The ultimate goal here is to produce a Proof of Concept inter-blockchain
communication system. All in all, the release of EOSIO 4.0 has relied on over 40 authors, pushing 818 commits to GitHub.
See the full press release for yourself, here- https://medium.com/@bytemaster/introducing-eosio-dawn-4-0-f738c552879
Some of the updates to the EOSIO system promises great potential not only for the software itself, but for the value of EOS. Such updates include a new RAM allocation model and, a new producer pay paradigm (among many more updates, of course).
The RAM allocation model now means that traders can prepare to buy RAM today, in anticipation for future RAM shortages. Larimer believes that over time, this will result in a balance between the supply and demand of RAM. The overall notion behind this is that under Dawn 3.0, traders have no incentive for freeing up RAM for others to use, under this new model in Dawn 4.0, spare RAM can be sold off in order to help the overall EOSIO system. According to Larimer:
“Over time Moore’s law will allow block producers to upgrade to 4TB or even 16TB of RAM and this increase in supply will trickle into the EOSIO RAM market lowering prices.”
The new producer pay paradigm also adds an interesting new element to the already well established EOSIO system. The paradigm uses algorithms to ensure that all producers have sufficient funding for providing full node services to the EOSIO community. Therefore, producers won’t find themselves out of pocket for helping the community. This will be enabled by a vote system, which will allow producers who contribute more, to receive greater funding. Importantly, as Larimer highlights:
“Assuming the top 200 producer candidates all received the same number of votes this would support 21 active producers and 179 stand-by producers. In reality some producers will have significantly more votes than others which may reduce the number of paid-standby producers. It is critical to have a minimum per-day payment so that wealthy individuals who have no intention of producing blocks don’t attempt to earn interest on their producer candidate by voting on themselves.”
Overall EOSIO 4.0 promises some great updates to the EOSIO network. Overall, the improved user experience and improved infrastructure will increase the popularity of this platform
and moreover, should also increase the rate at which we see EOS traded.
The full release for EOSIO Dawn 4.0 is due this Friday, the 11th
of May 2018.
As mentioned, this update carries a whole host of other features, if you are interested in the full impact of EOSIO Dawn 4.0, check out the full press release for the update on Medium (or click the embedded tweet, that’ll take you there too!)