EOS Plans Major Upgrades To Enhance Verification and Privacy

Table of Contents

• Introducing instant finality and faster irreversible transactions
• EOS Network set to reconfigure block-producing

• EOS Network announces the launch of a new consensus algorithm upgrade, Leap 6.0, or Savanna.

• This upgrade aims to enable faster finality and transaction times of over 100X.

• EOS also plans to reconfigure the traditional block producer role. 

Earlier this week, the EOS Network Foundation announced the planned launch of its latest consensus algorithm upgrade, Leap 6.0, in an effort to enhance and improve the efficiency and decentralization of the platform. In a blog post, the latest upgrade will launch the Savanna consensus algorithm enabling faster finality and faster transaction times in comparison to its last major consensus upgrade, Antelope Leap 3.1. 

In addition, the new consensus algorithm will see a complete revamp of the blockchain, enhancing security, user experience and decentralization of the EOS Network. 

According to the team, the final release of the upgrade will launch on July 10th this year, allowing developers and nodes to transition over the next three weeks. All EOS nodes are urged to make the upgrades to ensure a seamless transition and network synchronization during the open window (July 11th till July 30th). Once the upgrade process is complete, the mainnet version of Leap 6.0 will be launched via a hard fork planned on July 31st. 

Introducing instant finality and faster irreversible transactions

As stated, the major upgrade aims to introduce instant finality on the EOS blockchain through Savanna – Scalable Agreement on Validated Additions with Nimble Nonrepudiating Attestation – consensus algorithm. By leveraging the latest advancements in consensus algorithms, Savanna merges BLS signatures and advanced cryptographic techniques to dramatically enhance scalability and reduce the time to finality.

Moreover, Savanna also ensures that the irreversible transactions on the blockchain are 100X faster than its predecessor consensus algorithm, each transaction taking less than a second to complete. This will provide a boost in overall network efficiency and elevate users' experience while using EOS Network. 

One of the biggest achievements that Leap 6.0 introduces to the blockchain is enhanced privacy and potential for cryptographic innovation. The faster finality times and enhanced verification process open doors for the creation of ZK-proof systems. These systems promise enhanced privacy features, such as confidential transactions and the use of private addresses, setting new standards in blockchain privacy and security.

EOS Network set to reconfigure block-producing

The latest upgrade also allows the EOS Network community to vote on a new configuration of block-producing nodes. Simply, the network aims to split the block-producing functions into two distinct functions – Block Proposers and Block Finalizers.

The proposers will be tasked with organizing transactions into proposed blocks and sending the blocks to finalizers. Together, proposers and finalizers will generate Quoroum certificates for each block to verify the blocks before they are added to the chain. This aims to enhance the network’s security and efficiency by providing a robust mechanism for block validation and finalization.

Adding to safety, the separation of roles will also make EOS more efficient, enable inter-blockchain communication and allow third parties to observe the chain without participating in block creation. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.