EOS Network Completes Landmark Upgrade to Antelope Spring 1.0, Unveiling the Savanna Consensus Algorithm and Achieving 1-Second Transaction Finality

The EOS Network announces the successful completion of its landmark upgrade to Spring 1.0. This upgrade has introduced the Savanna consensus algorithm, marking a new era in performance, reliability and speed on the network.

Technology

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Block Producers, Chainwire, EOS, EOS Network, EOS Network Foundation, ENF, Spring 1.0, Antelope, Savanna Consensus Algorithm, Transaction Finality, Web3, World Economic Forum

Alberta, Calgary, September 25th, 2024, Chainwire

The EOS Network announces the successful completion of its landmark upgrade to Spring 1.0. This upgrade introduces the Savanna consensus algorithm, marking a new era in performance, reliability and speed on the network. By enhancing transaction finality to 1 second, EOS has achieved a more than 100-fold improvement over previous iterations. This rapid advancement in speed, security, and scalability sets the stage for future cryptographic breakthroughs.

This upgrade reflects the shared vision and dedication of EOS’s global decentralized community, underscoring its commitment to pioneering blockchain innovation.

Bart Wyatt, CTO of the EOS Network Foundation, articulated the significance of this strategic development:

“With the Spring 1.0 upgrade and the introduction of the Savanna consensus algorithm, we’re achieving something rare in the blockchain world: changing our core consensus algorithm. Very few Layer 1 blockchains have ever done this. I can think of only a handful—Ethereum being the most well known. In doing so, we’re standing on hallowed ground. By bringing EOS to an industry-leading 1-second finality, we’ve taken a massive leap forward, placing EOS at the forefront of blockchain innovation. This isn’t just a technical achievement—it’s about the EOS community taking full ownership.”

EOS Network has completed the transition to Antelope Spring 1.0, providing a non-contentious upgrade path. This process demonstrated the collaborative effort within the EOS community, involving extensive beta testing and a distributed activation, carried out by global block producers (BPs).

The Savanna consensus algorithm revolutionizes blockchain efficiency. By integrating advanced cryptographic techniques such as aggregate BLS signatures, Savanna ensures rapid, irreversible transactions, boosting both network security, scalability and unlocking new use cases in the blockchain industry.

“Spring 1.0 marks a pivotal moment for the blockchain industry, introducing the Savanna consensus algorithm with 1-second Instant Finality via cutting-edge BLS cryptographic advancements. This upgrade offers unmatched transaction speed, reliability, and security, laying the foundation for next-generation decentralized applications to flourish.”

- Yves La Rose, CEO of the EOS Network Foundation

“Achieving this was a collaborative feat involving internal teams and external partners, positioning EOS as one of the most technically advanced platforms. As a transformative phase, Spring 1.0 enables new growth opportunities and adoption within the ecosystem. It unlocks unprecedented value for developers and anyone invested in the long-term potential of blockchain innovation. With proven technology and robust infrastructure, the future presents limitless possibilities as EOS propels the industry forward”

- Yves La Rose, CEO of the EOS Network Foundation

As EOS Network forges ahead with Spring 1.0, it strengthens the foundation for continued innovation and community development. This significant leap in technology unlocks a vast array of new use cases, enhancing the EOS ecosystem.

Follow EOS Network on Twitter or Telegram to stay up to date with the latest enhancements, updates and upgrades to the network.

About EOS Network Foundation

The EOS Network Foundation (ENF) is a not-for-profit organization that supports the EOS Network. The ENF’s mission is to promote the EOS Network and its technology, to support the community, and to advance the state-of-the-art in blockchain technology. The ENF is governed by a board of directors that is elected by the EOS Network community.

Contact

Chief Communications Officer Zack Gall EOS Network Foundation [email protected]