follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open

Author Topic: Already Missed EOS? Don’t Miss the Best Opportunity to Explore Public Chain Era  (Read 651 times)

Offline Goodcat49

  • Legendary
  • *
  • Activity: 1567
  • points:
    1161
  • Karma: 0
  • corion.io
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: September 07, 2020, 11:20:27 PM
    • View Profile

  • Total Badges: 18
    Badges: (View All)
    10 Posts First Post Sixth year Anniversary
Since the dawn of blockchain technology, the digital currency communities have been consistently exploring the possibility of integrating such technology with the real-world business.

In the past ten years, blockchain has undergone three waves of evolvements: blockchain era 1.0 is represented by BTC, which is barely capable of practical application; blockchain era 2.0 is marked by ETH, whose main purpose is to build the foundation for Initial Coin Offering of various digital currencies; the recently heated EOS leads people into blockchain era 3.0, with the potential to engage in business activities across industries.

From BTC to EOS, the core elements throughout these three generations of evolutions in public chain technology are decentralization, scalability, and security. BTC suffered a lot in scalability, allowing maximum 7 transactions per second; ETH was slightly improved to allow 20 transactions per second, which is not fundamentally distinct from ETH though; EOS, for the first time, achieved commercial-level scalability, with tens of thousands of transactions allowed per second, and the number is expected to grow even larger in the future, at the cost of being more centralized and susceptible to manipulation of oligarchs.

Even representatives of blockchain era 3.0, such as EOS, have serious flaws which hinder the blockchain development prospects. Nevertheless, the evolution of blockchain technology has not yet come to an end. The arising ALZA Public Chain, with key technological innovations, is expected to lead the world into blockchain era 4.0 and completely bridge the gap between blockchain technology and real-world applications.

The Public Chain Era 4.0: Balance among Three Basic Elements
To achieve a balance among scalability, decentralization, and security is the key to integrating blockchain technology with the real world:

• Scalability

Alliance Visas is capable of handling around 50,000 transactions per second, while the Alibaba E-commerce platform has a throughput of 200,000 transactions per second. If blockchain technology is going to be applied to daily life trades globally, the throughput is expected to be millions of transactions per second. Only with such high-quality performance is blockchain capable of substituting digital currencies for traditional trading methods.

Aside from increasing transaction throughput, public chain era 4.0 is also supposed to address the issue of transaction delays and high fee rates. BTC can sometimes have transaction delay up to several days, and the transactions through ETH may delay for tens of minutes. The ideally acceptable delay duration of EOS is 3 seconds. However, in the Chinese market where mobile payment is well developed, the offline delays of Alipay and Wechat are on average less than 1 second. It is clear that if the public chain era 4.0 wants to win an edge over the traditional trading methods, it has to keep its delay duration within milliseconds, and the overall delay duration of apps should be controlled between 1 to 2 seconds.

As for fee rates, BTC and ETH have too high a transaction fee to meet the demands of frequent transactions. EOS has made significant progress in this aspect, but public chain era 4.0 needs to go even further. The average fee rates of most transactions in era 4.0 should be lower than that of credit card and mobile payment.

• Decentralization

BTC and ETH are completely decentralized public chains, but EOS has significantly sacrificed its decentralized feature for scalability. Since the decentralized nature is the core advantage of blockchain technology over traditional trading technology, EOS’s decision to weaken such characteristics makes it hard to attract the traditional businesses to transform to blockchains.

Public chain era 4.0 needs to maintain its unique competitiveness of decentralization with scalability also strengthened. The prospective blockchains will not tolerate any monopoly or manipulation but will strive to return the rights to all the ordinary users.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/already-missed-eos/


                                                                              █
                              █████████                  ██████
                      ███████████████████████████   
              ███████████████████████████████   
            ████████████████████████████████   
        █████████████████████████████████     
    ████████████████████████████████████   
    ████████          █████████          █████████   
  ████████                ██████              ████████   
█████████                █████                ████████   
███████████                █                ███████████
██████████████                      ██████████████
█████████████████            ████████████████
███████████████                  ███████████████
█████████████                          █████████████
███████████              ███                ██████████
█████████                █████                ████████   
  ████████              ███████              ███████     
    █████████        █████████          ████████     
      █████████████████████████████████       
        ██████████████████████████████           
            ███████████████████████████             
              ████████████████████████                 
                  ████████████████████                     

CorionX


















Powered by,

Altcoins Talks - Cryptocurrency Forum


 

ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod