Block.one Updates EOSIO Chain, Claims Transaction Speed Improvement

Announcements, Blockchain | January 24, 2019 By:

 Block.one, publisher of the EOSIO blockchain software code, has activated the latest update to the code.

The company claimed that in its internal testing, EOSIO version 1.6 has the potential to reach a 35 percent increase in transaction processing speeds. Current maximum speeds recorded on the blockchain are claimed to be at 3996 transactions per second. 

“Our aim is to drive mass adoption of blockchain,” said Block.one CEO Brendan Blumer. “As part of the community that continues to work on the EOSIO software and its corresponding advancements, we hope to play a leading role in the next generation of blockchains through our deep engineering talent and our dedication to a future of global commerce and communications based on blockchain.”

“This software update clearly shows the expanding capability of EOSIO and its growing ability to process a substantial volume of transactions,” said Block.one Chief Technology Officer Dan Larimer.

Block.one also has committed over US$1 billion to create EOS VC, a venture capital unit that aims to help develop and support the EOSIO ecosystem through venture partnership funds and investments. EOS VC’s fund partners include Derek Rundell of Eric Schmidt’s TomorrowVentures, Michael Novogratz’s Galaxy Digital, Finlab AG, Michael Cao’s EOS Global, and City of London-based SVK Crypto.