493
views

Block.one: The Leader in High-performance Blockchain Solutions

Block.one is the software publishing company behind the creation of EOS, and EOS VC, a venture capital firm focused on contributing early-stage capital to future blockchain tech development.

The startup maintains that its two primary products are the VC arm and cryptocurrency but specifies that it is working to provide the most powerful infrastructure for decentralized applications available. In fact, the block.one team is dedicated to providing “end-to-end solutions” to bring corporations, investors, and institutions together onto the blockchain via a plethora of different services.

Here is a beginner’s guide to understanding block.one, the group behind the industry’s biggest crypto offering.

block.one Is Behind Project EOS Dubbed “Ethereum Killer.”

block.one was reportedly founded in 2016 by the current Chief Executive Officer, Brendan Blumer, and his associates. The team is currently headquartered in Hong Kong but has offices in the Cayman Islands, the US, and maintains a global team from Europe, South America, and more.

block.one has demonstrated a business-centric philosophy for deploying decentralized systems. This is a core reason why many regard EOS as being in direct competition with Ethereum; they look to further enterprise adoption and usability of decentralized systems.

EOS, dubbed by many to be the “Ethereum Killer,” is arguably Vitalik Buterin’s creation as the main rival in the cryptocurrency, distributed ledger, and blockchain sector. EOS is one of the fastest-growing cryptocurrencies of all time, boasting a quicker logarithmic growth rate than ETH and BTC. In fact, in May 2019, EOS saw a meteoric rise in its price when it surpassed its previously attained all-time high, only to lose its newly gained year returns.

block.one believes that by implementing limitations and sacrificing network participation for directing power to flexibility in speed and confirmed transactions per second rate, it can surpass the rate at which its decentralized ecosystem is adopted.

block.one Spearheading Better Smart Contracts

As many have seen from the results produced by Ethereum, TRON, and EOS, smart contracts may be the ultimate way to expand a project through the force of the community and its developers. block.one has reported its involvement and passion for smart contract ideology many times before.

The blockchain startup allows developers to create their EOS-based dApps or singular smart contracts via the block.one development kit. Though there is a large community debate over which infrastructure can yield “better” results for decentralized programs, the main arguments for EOS smart contracts, as opposed to any other framework, are as follows:

  • Better scalability potential
  • Cost and expense (EOS does not have any fees)
  • Larger throughput capability → EOS can process greater transactions per second (TPS), therefore being a better infrastructure for these programs (Ethereum network clogs, e.g., with CryptoKitties)

Regardless of one’s stance on the developer efficiency debate, the achieved capability and results yielded by the EOS blockchain’s implementation has so far demonstrated fairly competitive results.

block.one Made History with Its EOS ICO

block.one is most famous for its EOS Initial Coin Offering (ICO), where it reported over $4B raised in a continuous ICO. Rather than function as many ICOs did where tokens were held in smart contracts until the completion of the token sale, EOS took an alternative route where it continued to operate openly and maintain market placement as its offering continued.

This can be compared to a company simultaneously being listed on a global stock exchange and completing an IPO as it’s already actively traded on the open markets.

At the formal conclusion date of its ICO, EOS had gained the most successful ICO designation in the crypto space. The funds amassed were more than twice the 2nd-place holder for private ICO of Telegram and the TON blockchain, which purportedly accrued $1.7 billion.

As a result of the news, EOS’s price shot up the ranks to the top five market cap cryptocurrencies in 2018. Since this peak, its price has fallen quite a bit, but the block.one team has remained adamant in their efforts to further the project to its utmost potential.

block.one CEO: Real Adoption Is At the Enterprise Level

Brendan Blumer, the CEO of block.one, is convinced that the blockchain has fashioned a huge social movement that facilitated real adoption to happen on an enterprise level.

During a panel at the Blocksberg Summit held in November 2019, Blumer shared his thoughts on EOSIO, block.one’s ambitious blockchain project, saying its goal is always to align with its user base.

As per the CEO, of the reasons why the industry could see an exponentially increasing growth year after year is that governments and financial institutions are yet to see blockchain’s true benefits, embracing blockchain would allow any organization, be it a bank, a large corporation, or a national government, to have more transparency, less fraud, and more control over their money supply.

“It’s only a matter of time before we see a government put their national currency on the blockchain,” Blumer alleged, adding that it would effectively turn that currency into a development platform.

Putting everything, including government-issued fiat currency, on a blockchain creates an unprecedented degree of transparency. Not only would this lead to the creation of a clear set of rules to navigate the blockchain industry, but it would also open up other doors to innovation.

EOSIO Plans to Resolve Bitcoin’s Major Issues

Ever since its whitepaper was released, Bitcoin has been the building block of the crypto industry. The groundbreaking idea paved the way for numerous cryptocurrencies, most of which were created to be the next Bitcoin. However, EOSIO, the ambitious blockchain project created by block.one, isn’t one of them.

According to Brendan Blumer, EOSIO wants to focus on expanding the use-cases for blockchain technology. During the Blocksberg Summit, Blumer discussed block.one’s beginnings and shared his views on the current state of the blockchain industry.

In an engaging talk with CNBC, Blumer explained that the goal with EOSIO was to create a faster, cheaper, and more scalable blockchain than Bitcoin. To achieve this ambitious goal, block.one has focused on giving the world what it needs from blockchain technology: improved transaction speeds that can accommodate large volumes of throughput and the means to support large-scale operations that grow and evolve.

So far, not only has EOSIO demonstrated lightning-fast speeds – 3,996 transactions per second and counting, compared to around 15 per second on Bitcoin and Ethereum – but the Delegated Proof-of-Stake (DPoS) mechanism that the blockchain employs allows it to operate in a much more eco-friendly manner.

Author’s Verdict

The continuous improvement on the EOS network, particularly the recent upgrade to EOS.io 2.0 in Jan 2020, is expected to improve smart contract execution performance. With the upgrade, block.one also claimed to have significantly improved the blockchain’s network code by adding multithreading support to it.

Indeed, the future looks bright for the block.one’s EOSIO (EOS) blockchain as it lives up to its reputation of quickly becoming a front-runner in high-performance blockchain solutions and adopting the decentralized ecosystem.

A good example that highlights block.one’s ambitions in the decentralized applications (dApps) sector is the recent launch of Voice on March 26, 2020. Voice has been a significant venture for block.one, as they have devoted approximately $150 million to ensure its completion.

Bitcoin live price
Btc
Bitcoin
$16.960,69
price
0.57949%
price change
BUY NOW

The platform bills itself as a truth-focused, blockchain-enabled social media platform, aiming to give censorship-heavy social media platforms like Facebook and Twitter a run for their money.

Stay up to date with our latest articles

More posts

Risebit – A New Generation of Decentralized Platforms

Risebit is a blockchain-based investment platform enabling users to generate returns safely and reliably. Users can choose from different investment plans according to their portfolios and strategies. Moreover, they can be part of an entirely community-centered platform where all members have a say in project decisions. Some of the Risebit services include a decentralized crypto exchange, a lending platform, launchpads, staking, and BUSD investment pools. Risebit has reached its token presales in just half an hour and scheduled the official…

Voiders – A Free-to-Play Game Revolutionizing Web3 Gaming

Online gaming has come a long way in the past few years. As time goes by, more and more people enjoy playing games online. Web3 gaming is a growing category of internet games. With the upcoming release of Voiders, gamers now enjoy an even more immersive experience. We decided to explore this new game and see what all the hype was about. Voiders - A Closer Look "Voiders" is close to entering the market as one of the first mobile…

Affiliate Me Token – A New Marketing Philosophy In the Crypto World

It's no secret that good marketing can make or break a business. Effective marketing is more important than ever in the online world, where competition is fierce. Here, customers have plenty of choices, and companies may need a high budget to launch effective marketing campaigns. Therefore, it's not surprising that startups are turning to cryptocurrencies and blockchain technology to get an edge on the competition. One such project is Affiliate Me Token, which aims to provide a new marketing paradigm…

Boui – A Voyage Across the Latest Innovative Platform Joining the NFT Market

NFTs have been around for a while, but the industry is still in its early stages. Many projects are popping up, and it can be difficult to tell which ones are worth investing in. This is because the NFT market is still very new, and there is a lot of speculation. Today, we’ll look more closely into Boui, a project that caught our attention and will soon launch on the market. Understanding Boui's Approach to the NFT Industry Boui is…

Ushi – Exploring Crypto Data in a New Way

A new player in the crypto world is looking to change how data is processed and shared. Ushi, a project audited by SolidProof, has a roadmap that promises big things for the future of data sharing.  So let us look more closely at what Ushi has to offer. A Quick Overview of Ushi Ushi (the Japanese term for "bull") is a new and unique way to look at the crypto market. By analyzing data and looking for patterns, Ushi can…

Is Planet IX a Scam? – A Look into Polygon’s Biggest Play-to-Earn (P2E) Game

Planet IX is a new gaming experience using blockchain and web3 gaming to create a fair and secure ecosystem. Through IXT tokens, players can compete on an even playing field regardless of their starting point in the game. Tokenomics ensures that everyone has a chance to earn rewards based on their participation and contribution to the game. Nibiru Software, the company behind the project, will use the proceeds from IXT sales to develop and improve Planet IX. The community and…

indu4.0 – The Digital Marketplace for the Manufacturing Industry

indu4.0 is a digital B2B marketplace for the manufacturing industry, aiming to make the bridge between supply and demand faster, more efficient, and cost-effective. The company behind it, Indu4.0 AG, operates from Lucerne, Switzerland. It has already succeeded in integrating numerous complex industrial products and services with a sophisticated filter system in a user-friendly platform. This indu4.0 review looks closely at one of the most ambitious projects seeking to establish a blockchain presence for the behemoth-sized manufacturing industry. Read on…

SpurDex – A Cross-Chain DEX Platform for Hassle-Free Trading

SpurDex is a cross-chain DEX platform that supports the hassle-free trading of digital assets. The platform aims to provide a decentralized, secure, and user-friendly experience for all its users. SpurDex aspires to establish a safe and secure environment for digital asset trading. What Is SpurDex? SpurDex is an easy-to-use cross-chain DEX platform allowing you to trade digital assets in a new manner. It utilizes smart contracts to facilitate the exchange of tokens between different chains. SpurDex wants to provide the…

Hami Network – The Next Level Launchpad for Investors and Project Owners

Hami Network, an all-in-one cryptocurrency platform, revealed its new investor-friendly launchpad helping projects gain more traction from their first day in the cryptosphere. Additionally, the project started the Seeding Round A for its HAMI token on August 19, ending on September 8. Investors can board the initiative or join the Seeding Round B on PinkSale from September 1 to September 14. This short Hami Network review looks closely at the project's new launchpad and features. Read on to learn more…

BC.Game – A Complete Casino and Sportsbook Experience

BC.Game is a crypto casino offering the widest variety of crypto deposits and withdrawals. The website features over 6,000 games, including BC Originals and house games. Most importantly, it operates as a casino and a sports book allowing users to play with crypto and fiat currencies. This BC.Game review dives deep into one of the most popular cryptocurrency casinos. Read more about its features, games, supported currencies, and payment methods! BC.Game in a Nutshell BC.Game launched in 2017 as a…