EOS, the seventh-largest cryptocurrency by market capitalization, performed its first hard fork earlier today.
The EOS update tracking tool maintained by the chain’s block producer, EOSNation, reports that EOS block producers (BP) signaled their intent to implement the update on the EOS Mainnet on Sept. 23 at 13:00 UTC.
According to the website, this is the largest upgrade that the network has seen so far, and the first one that required a hard fork. Lastly, EOS Nation also claims that 29 of the 30 top BPs committed to upgrading at press time.
Not the only major upcoming upgrade
As Cointelegraph noted earlier this month, two more blockchains are awaiting notable upgrades. Neo will have a major upgrade to NEO 3.0 in the second quarter of 2020. The network is expected to feature cheaper transactions and deployment of smart contracts, as well as a faster blockchain powered by a unified transaction model.
Tron is soon expected to release an update for the Sun Network that was officially launched on Aug. 11. Tron claims that the update will deliver unlimited scaling capacity for the Tron network.
Last week, Tron’s founder Justin Sun announced a new plan for the proof-of-stake mechanism for the network’s associated cryptocurrency, TRON (TRX). Sun said that the company will consider “a fair, decentralized distribution of staking revenues” to increase user participation.