Update also projected to make powering network applications less expensive

Hong Kong and Blacksburg, Virginia, 24 January 2019 – Block.one, publisher of the groundbreaking EOSIO blockchain software code, is pleased to announce the latest update to the code, which will allow for much greater speeds across the network than previously seen.

In internal testing EOSIO 1.6, has the potential to greatly increase performance, including an up to a 35% increase in transaction processing speeds. Current maximum speeds recorded on the blockchain are at 3996 transactions per second – among the fastest on any public blockchain.

The update also includes new projections that EOSIO will enable reduction in CPU costs and decreased latency, which will make it even less expensive to run applications on the software and increase their responsiveness.

“Our aim is to drive mass adoption of blockchain. 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, ” said Block.one CEO Brendan Blumer.

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

Since the EOSIO public blockchain was launched in June 2018, it has seen high levels of adoption and performance, as evidenced by the ever-growing number of applications being built on it.

Block.one is a global leader in high-performance blockchain software. In June 2018, Block.one completed the world’s largest token sale to date, and released the EOSIO blockchain protocol software, a major piece of open-source software that allows companies and developers to build blockchain solutions that benefit from levels of scalability and efficiency that have not been previously possible in blockchain.

It is now widely accepted that the EOSIO software represents a major step forward for the blockchain industry: The underlying structure of the code allows for no-fee transactions, and EOSIO works faster than any other blockchain platform, supporting the complex needs of many different types of users, including enterprise solutions, without compromising operability.

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.

Since launch, Block.one has attracted some of the world’s most forward-thinking companies and entrepreneurs as investors, including Peter Thiel, Louis Bacon, Alan Howard and Landsdowne Investment. It has also built out an industry-leading executive team, with recent hires from Citibank, CBA, Credit Suisse, Jefferies, and Clifford Chance.

Block.one has offices in Hong Kong, California, and Virginia. For more information, visit block.one and eos.io.