The EOS blockchain has gone through a hard fork today in which it saw significant upgrades to its code.
The upgrade occurred at 13: 00 UTC, and with its completion, it brought the new EOS 1.8 to the world. In spite of the new, the price of EOS did not experience any positive movements.
Binance was among the exchanges that supported the hard fork, and as such, it suspended all EOS withdrawals and deposits from 12:00 UTC. The trading of EOS will resume once the network has ensured operational stability. The exchange has cautioned traders to wait a sufficient amount of time before depositing NEO into their wallets.
The EOS community also cautioned users to avoid executing any high-volume transactions on the network at the time of the hard fork or buying RAM or other resources.
All the 21 elected top Block Producers are expected to have migrated to the new version, which would mark the completion of the hard fork. At 11:00 UTC, 29 out of 30 top block producers has their nodes upgraded or they committed to upgrade.
There will be no new token generated, as this hard fork had no two conflicting networks. Due to EOS’ infrastructure, all block producers have all cooperated to mine the new blockchain.
The upgrades and applications will enhance the total output of EOS, and it will enable it to launch EOS Voice, a much-awaited project supported by Block.One, as well as other decentralized apps (dapps).
Block.One revealed the project on June 1 and it was met with much excitement. The Voice app will make history, as it will be the first voice chat service ever that is based on blockchain technology.
The current price of EOS is $3.81 USD, ranking 7th with a market cap of $3,559,020,747 USD. The coin experienced a drop of 2.42% in its value in the last 24 hours.
Featured image: bitcoinist
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