How does EOS 2.0 affect cryptocurrency users?
If you followed EOS project’s latest updates, you might have heard of a fresh 2.0 release. They created quite a long post explaining new features, so instead of repeating this all over again, we decided to write about how this latest update improves cryptocurrency users’ experience.
Better Dapps
There are two important improvements that simplify the lives of EOS developers significantly: EOS VM and EOSIO Web IDE. Both of them increase the speed of innovation and creation of new apps on the EOS network.
According to community benchmarks, a new EOS compiler can generate the native code 16 times faster than its previous versions. However, it doesn’t only optimize the performance, but also gives enough technical growth for smart contracts’ debugging which will make dapps less vulnerable to potential issues that aren’t easy to find during dapps’ execution.
At the same time, EOSIO has launched an alpha stage of Web IDE to improve software development’s lifecycle, especially in early stages. This can increase the number of apps published by entrepreneurs due to the comfort IDE blockchain brings to its community.
Better Security
Security has always been a major focus for all of the blockchains that exist at the moment. Block One team decided to bring it to the next level and announced WebAuthn support, one of the strongest security standards in the market.
“WebAuthn creates cryptographic key pairs on devices like a YubiKey and shares only the public key with a remote server over a secure and authenticated channel. By managing authentication credentials entirely within hardware devices, WebAuthn has been shown to essentially mitigate entire classes of attacks such as phishing. ”, stated by development team.
Thus, in the near future, we will see enterprise-level mechanisms preventing most of the known issues related to private keys. This is awesome!
Better Infrastructure
Any upgrade cannot be fulfilled without optimizing network’s processes. V2.0 brings something very special that we have never seen before and it’s quite impressive. It makes EOSIO infrastructure more stable and fault tolerant. In particular, it solves double block signing problem, introducing quite a unique approach called Weighted Threshold Multi-Signature Block Production.
In simple words, you can now use multiple weighted public keys to sign a produced block with as many signatures as necessary to satisfy the required threshold. At the same time there’s no need to share any private keys data which is quite important. Please refer to this Github issue, if you are looking for more technical details on this feature
As you know, Paytomat relies heavily on EOSIO software, thus such improvements demonstrate some benefits to our community as well. Let us know if you are interested in this topic via our Telegram group.
