On the EOS network, which is a decentralized blockchain platform with the ability to launch smart contracts, a new updаte will soon occur. This was announced by Block.one’s CTO Daniel Larimer on his Twitter account. Block.one has been developing the EOS blockchain since 2017. The new updаte is designed to solve the problem of lack of resources and improve optimization. Although some changes have already been made to the protocol, a major conversion will be launched within a month. Using the revised functionality, traders will be able to exchange cryptocurrencies and financial transactions faster, more convenient and safer.
The updаte will be available under the name DISK and will also aim to reduce the consumption of computing power – now users will be able to quickly implement smart contracts and not waste computer RAM. According to the developers, DISK is not positioned as a forced updаte – node holders can decide for themselves whether to stay on their old configuration or switch to an updated network. Changes in the protocol will allow for the implementation of cryptocurrency currency exchange and the sale of digital assets faster by increasing the network bandwidth. In addition to reducing resource costs, the upgrade will significantly affect the scalability of the network. Now the EOS token is successfully trading on currency exchange sites and continues to hold a leading position in the lists of the most popular cryptocurrencies.
Also in working order, the EOS community decided to reduce inflation from 5% to 1%. This action of the community testifies to the complete decentralization of the network and provides participants with more opportunities for interaction and approval of new functions that improve the network. Although the issue of reducing the percentage of inflation was discussed for a long time, the decision was made unanimously within a day. Since such a system was present in the protocol from the very start of the network, the distribution of funds was not transparent enough and did not suit most of the community.
Of the previously approved 5%, the lion’s share went to the reserve account, but for all the time the community was not able to decide how to use these assets to finance new projects in the best way. Despite the general decrease in the cryptocurrency exchange rate on the market, after burning tokens from a backup account, the cost of EOS can increase.