EOS Dawn 4.0 Is Here
There is a lot of talk about how EOS, a cryptocurrency platform yet to come out with a finished product, is worth so much and ranked 5th on CoinMarketCap.com. Such talk is likely to make one overlook the actual work being done to build the EOS platform. In barely a month after the release of EOS 3.0 to introduce a number of features to EOS, Dawn 4.0 is already here. One thing this shows is that a lot of real work is being done on the EOS platform. This medium post by Dan Larimer rightly stated that EOSIO has been one of the most active C++ projects on Github in the last couple of weeks. In this article, we will touch on the new features and changes coming with EOSIO Dawn 4.0.
Key Change On EOSIO Dawn 4.0
The main update to the EOS blockchain with Dawn 4.0 is that the definition of current time has been changed from “time of head block” to “time of current block”. With this update, issues relating to time-based operations are rectified. The update is even more important when there are missed blocks. There will, according to plans, also be an improvement in how elapsed time in contracts is measured in terms of exactness.
Changes To How RAM is Assigned And Its Ramifications
With Dawn 4.0, the EOSIO contract system’s RAM allocation model would use the Bancor Algorithm. The reason for this change is that after tests, the team realized that allotting RAM to users who have staked their tokens was not going to be sustainable in the long run. This is because, with the previous way of assigning RAM, the system was going to run out of space eventually.
Another change in relation to the RAM allocation is that with Dawn 4.0, market forces would determine the price at which it is traded. It was previously not allowed to sell at any price other than the price at which the RAM was bought. A negative effect of allowing demand and supply to decide RAM prices is excessive volatility due to speculation. This, would, however, not be a problem since measures have been put in place to reduce the effects of speculation on the RAM price.
This new model would also incentivize users with RAM to allow other users to have some space when there is congestion by selling at favorable prices. It would then lead to the more efficient use of the space by developers.
Inter Blockchain Communication
To be able to scale the usage of RAM on the network, block producers or developers on the EOS network are able to run different chains with the same token. With such a token, the developers would be able to buy RAM and stake bandwidth. Also, the varying price of RAM on the various chains would serve as an indication to developers in terms of the most cost-effective chain to create programs on.
It is only on the main chain that producer elections take place on. The sidechains would be run by the same developers handling the main chain.
The announcement of Dawn 4.0 clarified that the downsides of the Delegated Proof of Work Last Irreversible Block algorithm (DPoS LIB) were minimal. Dan Larimer further explained that DPOS LIB algorithm is what gives EOSIO finality. This “finality” is what makes communication between different chains easy. Dawn 4.0 also came with an adjustment to the DPOS to make it and the network more secure and resilient.
Support For Exchange Integration
Following requests for a means of monitoring the EOSIO blockchain for deposits and withdrawals by exchanges, the EOS team has come out with tutorials to guide interested users on monitoring deposits and withdrawals.
One of the tutorials covers using the command line EOSIO interface known as “cleos” for monitoring deposits. The other tutorial is on the python script created to monitor deposits and withdrawals on EOSIO blockchains.
Other Important Updates
The announcement of Dawn 4.0 came with other updates like name squatting, header only validation, producer vote decay, producer pay model and light weight producer schedule change proofs. The roadmap for parallelism was also laid out in the announcement. In the meantime, finishing touches are being added to Dawn 4.0 as the 11 May released date approaches.