First-Ever “Hard Fork” on the EOS Network
It’s been an exciting week for cryptocurrencies, as price crashes and institutional platforms launched all in a matter of days. Also adding to an eventful week is one cryptocurrency that we haven’t covered for several months, EOS.
Filmed live on YouTube at the start of the week, EOS underwent its first-ever ”hard fork.” Making this the largest update of its kind on the EOS blockchain, the upgrade to EOSIO v1.8 includes several new features, some of which block producers are already considering activating according to an announcement by eosgo.io.
If node operators do not achieve consensus, hard forks can pose the risk of a blockchain network splitting into two separate versions, similar to what happened with Bitcoin, Bitcoin Cash, and Bitcoin SV in the past.
“The high level of coordination and cooperation demonstrated among the EOS community is something we can all be proud of!
Thank you to everyone who participated and contributed throughout this process, there are too many to name all of you! This was a great community effort and a fantastic example of what makes the EOS public network so powerful!” – EOS Nation blog
EOS is a smart contract blockchain system that launched in mid-2018 as a direct competitor to Ethereum and the controversial Tron blockchain. EOS has been met with high expectations and some criticism towards its ability to run as a fully-scalable blockchain, but it still leads the pack in network activity according to blockchain statistic Websites.
EOS’ next steps will be to activate the multitude of features that the new and improved main net has to offer. These added features were activated on the test net with zero issues and will soon be implemented on the public network in the weeks ahead.
This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.