EOS (EOS)

EOS (EOS) development team, Block.one is on track to release the first version of its software, EISO 1.0 in June this year. A feature complete pre-release version of the software, EISO Dawn 3.0 has been released to give a sense of the software’s functionality before the main release. The release comes 4 months after the pre-release version Dawn 2.0 and a number of improvements have been incorporated since. The Dawn 3.0 however has only been set to implement a fraction of the functionality expected in the full release version. Of the many implementations on the EISO software, scalability and speed took center-stage in this release.

EOSIO Software

The EOSIO software has been developed to enable for scalability and speed by building in features that allow for parallel computing. In addition, the software is expected to allow for inter-blockchain communication, a feature that enhances scalability by allowing one blockchain to authenticate events on a different blockchain in a secure manner. There have been efforts across the entire blockchain industry to achieve this due to the potential benefits it would bring to the technology.

Some of the areas previously researched into as potential solutions to achieve inter-blockchain communication include side chains, plasma and sharding. This is therefore a major achievement for Block.one as it says it has been able to achieve this with levels of security comparable to those of intra-chain communication between smart contracts.

A lot of features have been built into the EOSIO software to facilitate inter-blockchain communication. One such development is the implementation of the byzantine fault-tolerant sparse-header validation on the blockchain which does not require light clients to process block headers where the set of active block producers does not change making the process more efficient. The software also allows for context free actions, where actions that do not depend upon blockchain state e.g. validation of a merkle signature and other computationally expensive privacy techniques can be done in parallel, pruning them from a transaction and consequently improving efficiency in inter-blockchain communications. Transactions often have a lot of compressible data. By compressing such parts of a transaction, the EOSIO software will be able to transmit a large number of transactions and reduce cost.

Developers on the EOSIO platform will also be able to write contracts with scheduled transactions making it more efficient and easy to use contracts that operate continuously without the need to wake a contract offline, as with other existing blockchain technologies. The ability to implement inter-blockchain communication also makes it possible for EOSIO to run an unlimited number of transactions per second by dividing transactions between as many blockchains as required.

The Dawn version 3.0

The Dawn version 3.0 uses a Binaryen WebAssembly interpreter by default which is slower than the Just-in-Time (JIT) compiler used in the previous version Dawn 2.0. The new implementation however offers more stability, only reverting to the faster JIT compiler when needed. The system has also been designed with a password recovery mechanism as losing a password has often meant losing access to your crypto assets. Smart contract development on EOSIO has also been simplified by automating the process of generating contract ABI and dispatching user actions to the methods defined.

EOS (EOS) is today 6th April, holding its inaugural Meet-up in Hong Kong giving attendees the opportunity to interact with the team and learn more about the project.  Josh Lavin, a senior analyst and Ian Grigg, a partner at block.one are among those lined up to make presentations during the meet-up. Among the issues to be covered at the event is an opportunity to learn what the technology is about, how it may apply to various businesses and goals and expectations of the EOS.IO software and the block.one team. The event has been sold out, demonstrating the masses’ interest in the technology and solutions it brings to the business environment.

It was announced recently that block.one was getting into a partnership with Mike Novogratz and Derek Rundel. The celebrated venture will provide up to 1 billion USD towards funding of projects developed on the EOSIO platform. This partnership will remove cost as a barrier and provide an incentive for businesses to take advantage of the capabilities of this platform in developing commercial scale decentralized applications to suit their various business needs. Block.one claims its general purpose software will be the fastest and most scalable in the blockchain space.

EOSIO has great potential, bringing blockchain technology closer to businesses. The pre-release version 3.0 only gives a taste of the platforms functionality. We wait to see what comes with the full release in June this year.

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