EOS hard fork was much awaited by a fraction of the cryptocurrency sphere. The seventh-largest digital currency in terms of market capitalization, EOS has successfully performed it’s first hard.
According to the EOS update tracking tool that is maintained by EOSNation, the chain’s block producer signaled about their intention of implementing the update on EOS Mainnet on 23rd September.
Need for EOS hard fork
Reportedly, this is the largest ever upgrade of the network, and it is also the first-ever update that required a hard fork. Moreover, EOS Nation claimed that twenty-nine of thirty top block producers are committed to upgrading at the time of writing.
As previously reported this month, this is not the only major up-gradation, as other blockchains are also lined up for notable upgrades. Neo would be having a major upgrade to NEO 3.0 in Q2 of 2020.
Furthermore, it is expected that the network will be featuring cheaper transactions and smart contract deployments along with faster blockchain that would be powered by a unified transaction model.
Moreover, TRON is also expected to be releasing an update for the Sun Network. According to the claims made by TRON, the update would deliver the unlimited capacity of scaling to the TRON network.