The Blockchain development Block.One firm has just released EOS.io 2.0 which the software responsible for the functioning of the EOS Blockchain. In our EOS news today, we read more about the update and what can it do for the platform.
In the released announcement on Twitter on January 10, Block.One claimed that the update makes the blockchain ‘’simpler, faster, and even more secure.’’ The official blog post explained that the new software includes a purpose-built WebAssembly engine where the EOS smart contracts are run. According to the official website, WASM is an instruction format that is designed for deployment on the web and servers. The new update is expected to improve the performance of the small contract execution given that it is now about 16 times faster than the engine used in the previous version.
This new update will also introduce WebAuthn support and according to the website, this support is a web authentication standard based around the public key cryptography and further down the explanation you can read about how EOS developers can use it:
“With this release of WebAuthn support for EOSIO, developers can begin testing transaction signing with WebAuthn in their EOSIO applications.”
However, there is no set date for adoption of the update as the Block.One firm also claimed that it will significantly improve the network code of the blockchain by simply adding multithreading support to it. This kind of support is the ability of a central processing unit to execute the multiple threads of execution at the same tie. The Multithredign support could improve the performance in block propagation, processing, and transaction along with a block and transaction packing and unpacking:
“By isolating these processes we have seen significant improvements in transaction processing and block processing performance on multi-producer EOSIO networks.”
Furthermore, the update is also released alongside the dedicated and integrated development environment that could speed up the entire developer onboarding. This is the second announcement that came from this company which could have a major influence on the EOS ecosystem. Block.One also proposed a major change to the entire resource allocation system of the network that could require the users to rent network resources instead of buying them.
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EOSIO Proposal Would Prevent Users From Buying Blockchain Resources
“Under the new proposed system, a user will pay a resource rental fee via a smart contract to be granted 30 days worth of CPU/NET from the total supply. After 30 days the rental must be renewed and pricing is automatically adjusted using a market based mechanism, based on changes in supply and demand for CPU/NET resources.”A new staking model would let users be able to stake EOS tokens in the new system. However, instead of obtaining CPU/NET resources, they would be compensated with fees from the EOS name auctions, RAM fees and proceeds from CPU/NET rentals.
“The objective of proposing a transition from a resource entitlement model to a leasing or rental model is to remove the influence of speculative markets over resource pricing. Introducing a rental market with pricing based on overall resource utilization will make resource allocation more predictable and reliable for the community,” the post featured in the altcoin news also explains.The EOSIO proposal also shows that the resource's price is based on their supply available out of the total. The less CPU/NET available, the higher the price. This transition would be gradual and more resources would be progressively shifted from the old REX implementation to the rental system over time.
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“If 2019 was good, 2020 shapes up to be the best year ever for Crypto.com. We are now positioned to capture this opportunity and I think we've never been in a better position to do so.’’The company also launched the crypto exchange to the public following the period in private beta so arranging a third party helped the platform go-live including ‘’thorough external security test and full threat modeling exercise to ensure the completeness of security controls.’’
EOS.IO ‘’Voice’’ Social Network Has An Official Launch Date
“Voice Tokens are conceived as the gateway to all forms of promotion and advertising on the platform.”Voice will not be an anonymous platform but a transparent one. It will ask users to identify themselves in order to publish content, thus eliminating fake accounts, catfishing, and bots.
“By allowing users to see who and how much is behind promoted content, it makes promotion more engaging and less manipulative,” Block.one states.Voice will compete with few crypto reward systems. Steemit, created by EOS founder Dan Larimer, is a certain forerunner of Voice. Brave, Coil, and Minds all share certain similarities- the crypto reward system- with Voice. Libra is another platform that could be compared although it is not a reward token, it will be a part of the famous Facebook social network, the Empire of Mark Zuckerberg.
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