EOS Developer Block.one Releases Version 2.0 of EOSIO Protocol

Published at: Oct. 8, 2019

EOSIO developer Block.one has announced the release of version 2.0 of the EOSIO open source protocol, according to an official press release shared with Cointelegraph on Oct. 8.

EOSIO is a blockchain-based smart contract protocol used to develop and host decentralized applications (DApps). It employs a consensus model called delegated proof-of-stake.

Protocol updates: smart contract efficiency and security

According to Block.one’s announcement, the core of EOSIO 2.0 includes various improvements to EOS VM — a high-performance WebAssembly engine specialized for blockchain applications that enables more efficient use of system resources when processing smart contracts.

Block.one claims that the updated EOS VM offers up to a 16x performance gain over EOSIO 1.0, thereby greatly improving smart contract efficiency.

Other major developments include the adoption of WebAuthn authentication standards, allowing to use a hardware device for authenticating and signing transactions in browsers without extensions or extra installed software for EOSIO applications.

This will improve security without users needing to keep track of private keys or other account information, the news release claims.

For the network’s block producers, Block.one has also developed what it dubs “weighted threshold multi-signature block production” — a way for them to “securely sign blocks by utilizing a permission layer that allows for multiple block signing keys in a flexible scheme without sharing any sensitive data.”

New developer tools

The release also includes a new web-based development tool dubbed EOSIO Quickstart Web IDE — currently at an alpha support stage — which aims to decrease the complexity and system requirements for building EOS.io applications.

As Cointelegraph reported on Sept. 14, a hacker allegedly stole more than $110,000 in cryptocurrency through an exploit of EOS gambling game EOSPlay.

Industry developers have subsequently contextualized the hacker’s exploits amid a purportedly wider problem: an inexpensive technique that allegedly allows hackers to “congest” the network — or put it into a low-efficiency mode — with just a few dollars worth of EOS.

Block.one executives have rejected this claim and contended that the network is operating correctly.

Tags
Blockchain
Eos
Related Posts
Daniel Larimer, CTO of EOSIO developers block.one, resigns
Daniel Larimer, the CTO of EOSIO developers block.one and founder of early crypto exchange Bitshares and blockchain-based social media platform Steem, announced in a short blog post today that he has resigned. “[I] am proud of the EOSIO software I was able to create and launch with the help of an extremely talented group of engineers. Alas, all good things must come to an end. As of December 31, 2020 I have resigned my position as CTO of block.one,” the post read. While the post didn’t specify a reason for the departure, his recent social media activities may hint at …
Blockchain / Jan. 10, 2021
Report: Blockchain-related hacks have declined in 2020
The amount of cryptocurrency and blockchain-related hacks has been decreasing over the course of 2020, a new report claims. According to data analyzed by VPN provider Atlas VPN, the number of hacks in the first half of 2020 dropped more than three times compared to the same period in 2019. The data is part of a report released by Atlas VPN on Oct. 28. According to Atlas VPN, 2019 was a record-breaking year for blockchain hackers that exploited 94 successful attacks in the first half of the year, while in H1 2020 there were 31. Per the report, 2019 as …
Technology / Nov. 2, 2020
Google Cloud bets on EOS blockchain, venturing further into crypto
Blockchain is undergoing a critical turning point, shifting from an emerging technology into a useful business tool that enterprises want to incorporate into existing IT stacks. As more companies continue to explore how blockchain can help achieve digital transformation, major cloud service providers are showing increased interest. For example, Google Cloud recently became a network block producer by joining the EOS blockchain community. Block producers on EOS are elected by token holders to add transactions to blocks, add blocks to the blockchain, and implement software changes. While Google Cloud must still be elected to become one of the 21 active …
Blockchain / Oct. 8, 2020
Block.One Proposal Would Prevent Users From Buying EOS Resources
Block.One, the firm behind the EOS blockchain and token, proposed a major change to the network’s resource allocation system that would require users to rent network resources. According to a blog post published by Block.One on Dec. 21, the proposed changes aim to avoid network congestion caused by the inability to employ unused Central Processing Unit (CPU) time and bandwidth (NET) resources because users own them. According to Block.One, the network suffers from a poorly designed resource allocation system that allows most of the network’s resources to go unused despite significant demand, precluding the network from operating at full. During …
Blockchain / Dec. 23, 2019
Eos Developer Block.one Announces Blockchain-Based Social Media Platform Voice
Eos (EOS) parent company Block.one has announced a blockchain-based social media platform called Voice, according to a press release shared with Cointelegraph on June 1. The firm claims that the platform will use the Eos blockchain to provide transparency on how it operates, without hidden algorithms or content-pushing mechanisms of which the user is unaware. In the press release, the CEO of Block.one, Brendan Blumer, compared Voice with traditional social media platforms, saying: “The truth is, current social media platforms are designed to use their users. Just look at the business model. Our content. Our data. Our attention. These are …
Blockchain / June 1, 2019