EOS network claims to have improved transaction speed by up to 35% with new update
In a move announced on the EOSIO official medium blog, the EOS network has released a performance update (version 1.6.0) that has already shown improved transaction speeds of up to 35% in some cases. Shipping this update has also come with other significant improvements to the network such as reduced CPU costs and lower latency on EOSIO based blockchains.
In addition to this update, the EOSIO team is currently working on improving their smart contract creation, development and testing in a move to establish more trust and build adoption in the blockchain community. The dev team has also rolled out a tool in this update that allows users to generate a template and structure for smart contracts, however, it’s too early to know whether this has been a success. Time will tell.
The EOS network will be collecting feedback whilst rolling these updates out and explicitly thanked the community contributors who helped make these improvements happen.
EOS currently ranks in the coinmarketcap top 10 with a market cap of over $2 billion. It’s a blockchain platform similar to Ethereum that aims to make Dapp development super easy for developers with scalability and simplicity. The project also aims to tackle the accessibility problem faced in the blockchain industry with a platform that everyday users can use and benefit from. The team boldly shares plans to remove transaction fees completely and build the network up to be able to handle millions of transactions per second.