03 Jun 2018 Simon Briggs
EOS Price Spikes Up Following EOSIO v1.0 Release
EOSIO key features include free transactions, limited only by the Hash rate, rapid block affirmation (0.5 seconds), a six-sigma approach to faults, smart contract platform, based on Web Assembly, as well as hierarchical role permissions. These serve to provide quick and secure client validation, recurring scheduled transactions, such as salary payments and taxes.
The upgrade includes time-delayed security, progressive permissions, support for biometric hardware secured keys, like Apple Secure Enclave, and blockchain communication inside the network itself.
Since the release of EOSIO v1.0, the EOS token price increase reached $15,29 and a $2,5 billion in trading volume. This is the second rise since the $0.52 low reached on the 26th of October 2017. Graphs show a steady incline on the positions of EOS, which ranks at the #5 spot on Coinmarketcap’s charts.
Moreover, yesterday Cointelegraph reported that the EOS token reached its year-long targeted crowd sale and raising $4 billion, meaning that it is the largest ICO to date.
The release allows working in a token-free environment, allowing administrators to release unlimited resource quotas. It was also launched in accordance with the Massachusetts Institute of Technology license.
Furthermore, two Web-Assembly-based engines can be used – Binaryen and WAVM. The blockchain’s capacity is 1000 transactions per second, as the future upgrades are likely to feature horizontal scaling.
To ease the developers, Block.one launched a portal inclusive of all software supporting documentation.
Earlier in the week some security vulnerabilities of the EOS blockchain were identified and announced by Qihoo 360, leading Internet security company based in China. The scale of them suggests a high possibility of distant attacks on all of the EOS nodes. Block.one took immediate action and reportedly fixed the identified raised issues.
Alongside the release of the upgrade, Block.one announced a partnership with the London-based investment company SVK Crypto and the launch of a new investment fund of $50 million which will enhance and promote the EOS ecosystem.