The official blog post on new software explains that it includes a purpose-built WebAssembly (WASM) engine on which the EOS smart contracts run. According to its official website, WASM is an instruction format designed for deployment on the web and servers.
Blockchain software development firm Block.One released EOS.io 2.0, the software underlying the EOS blockchain.
In the release announcement published on Twitter on Jan. 10, Block.One claimed that the update makes the blockchain “faster, simpler, and even more secure.”
Major changes to the smart contract virtual machine
This change is expected to improve the performance of smart contract execution, given that it is supposedly up to 16 times faster than the engine used in the previous version.
This update also introduces WebAuthn support. According to the official website, WebAuthn is a web authentication standard based around public key cryptography. The announcement explains how EOS developers could use this standard:
“With this release of WebAuthn support for EOSIO, developers can begin testing transaction signing with WebAuthn in their EOSIO applications.”
Sources told Cointelegraph that presently there is no set date for adoption of the update.
Network code multithreading support
Block.One also claims to have significantly improved the network code of the blockchain by adding multithreading support to it. Multithreading is the ability of a central processing unit to execute multiple threads of execution at the same time.
Multithreading support should improve the performance in block propagation, transaction processing, block and transaction packing and unpacking and other processes as those are now all handled by a separate thread. The post reads:
“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 released alongside a dedicated integrated development environment (IDE) that should supposedly speed up developer onboarding.
This is the second recent announcement that came from Block.One that may have a major influence on the EOS ecosystem. As Cointelegraph reported in late December, Block.One also recently proposed a major change to the network’s resource allocation system that would require users to rent network resources instead of buying them.
Block.one Plans to Start Voting on EOS, the Blockchain It Birthed
The Cayman Island-based developer house announced Wednesday that, having watched EOS develop over the past two years, it now thinks the time is right for it to come off the sidelines and begin actively contributing to the network.
“Hundreds of BPs and SBPs have contributed a tremendous amount of code, knowledge, and leadership. Initially, in the coming weeks, we plan to use our voting stake to begin highlighting and voting for many of these candidates, potentially even in rotation, to showcase these organizations’ achievements, values, and network contributions,” the post said, referring to block producers and standby block producers.
Block.one has been looking to participate since a month after the network launched in June 2018. In a July post that year, the company said it would vote for block producers, though this did not happen.
Block.One announced its intention to begin participating in governance in November. At the time, the company said it wanted to play a “proportional role” in suggesting new proposals as well as supporting projects and teams contributing to the overall health of the network.
Following the $4 billion initial coin offering (ICO), Block.one allocated itself 10 percent of the total EOS (EOS) token supply. But its share has slowly declined as new EOS tokens have entered the ecosystem from BPs validating new blocks. Eighteen months after the ICO, in November 2019, the company’s share was down to 9.5 percent percent.
As of press time, the most widely supported EOS block producers have support from 2.67 percent of the voting EOS tokens. Block.one’s control of 9.5 percent of the supply means that its support could be potentially decisive for any block producer.
Per Wednesday’s release, Block.one said it would begin playing an active role first by vocally supporting BPs that have already added code, and it will support block producers who “adhere to the standards we wish to see network wide,” the company said.
“Block.one believes staking systems will be a critical component of the future tokenized economy, and to ensure maximum network security and constructive participation, Block.one will begin staking and voting its EOS token position,” the company added.