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What is EOS Blockchain?

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EOS coin is a digital currency that was officially launched by Block One in late 2017. Block one is a blockchain company that is specialized in developing blockchain and decentralized projects, and aims to give developers easy-to-use tools for developing decentralized applications.

What is Decentralized applications (dApps)

If you have a copy of a car game on your mobile phone, it loads a copy of its files locally into the phone’s memory so when you launch the game your mobile phone wills search for those files and execute them so you can play the game. Likewise if you have a copy of a movie, song, or something else.

The decentralized application is designed to store files on the Blockchain network instead of storing them on your phone. Suppose that this car game is a decentralized application, then all copies of this game will be stored on the blockchain network.

The decentralized application also provides a fertile environment for developers, giving them high security and fast access, and instead of creating applications within the limits of a single device, they can be created within the limits of a huge potential network.

The EOS project aims to provide a convenient, easy-to-use platform for all decentralized application developers, based on blockchain technology. EOS was designed to be the platform for decentralized applications, similar to the iOS operating system for iPhone applications, and the Windows operating system for computer applications. This depends on developing the blockchain technology itself into a comprehensive market and a user friendly option.

What are the advantages of EOS coin?

EOS is not the first or the only currency to use blockchain technology. There is “Ethereum”, one of the most prominent competitors, as it ranks second in the cryptocurrency market after “Bitcoin”.
However, EOS offers several advantages, including:


Possibility of expansion
That is, the system’s ability to expand and grow, while maintaining the efficiency of its work, Bitcoin can conduct 7-12 transactions per second, while Ethereum conducts 20-30 transactions per second, while bank payment methods such as Visa and MasterCard make more than 30,000 transactions per second. This is why the EOS platform is designed with open capabilities, even exceeding the barrier of 40 thousand transactions per second in the testing phase.

Free token template
Most blockchain projects require the purchase of certain codes or «tokens», to reach the project for a period of time, while EOS has created what it called a free access model, which is not free in the absolute sense, but instead of buying distinct codes that are valid for a limited period, it is enough to buy EOS codes or Advance payment for permanent access to the development platform.

Development package
The development package, or development group, is a set of tools that allows developers and programmers to create and modify applications. The more sophisticated this package and size, gives programmers wider options. In this context, Block One presented a distinctive competitive development package that offers many options.

Authentication
The EOS platform enables users to create new accounts directly on the blockchain network, unlike many other projects that rely on blockchain technology. This option provides quick easy access.

Verify ownership
The EOS platform was created based on the verification model, as all computers on the network verify the number of tokens or codes each participant possesses, and the more the participant owns more currencies the more role he plays in storing and resolving data, which is known as proof of work.

This system is similar to the Bitcoin mining system, but it does not consume much energy and does not require much potential.

Take into account inflation
This project is designed to continue to launch new currencies or tokens only with the growth of the network and the growth of the user base, in order to account for inflation, and to avoid the problem experienced by Bitcoin from a large fluctuation in price, and to keep the price of eos symbols appropriate for the user. The price of the one EOS code was $ 2.67 on June 3, 2020.

How can EOS coin be purchased?
Buying an EOS coin is like buying any other blockchain coin. To start with you should choose an electronic wallet to store your EOS assets, generally the best way is to store your digital assets or your coins in an offline wallet. There is a wide variety of EOS wallets out there.

If you want to buy EOS currencies to develop decentralized applications, you can go to the EOS Blockchain platform and create an account using the “EOS Account Creator”, then pay a certain amount to access the development platform.

Professional Trader, Social media scholar and a Crypto expert. If you have any comments, suggestions or questions feel free to contact me at sying.tien@thecoinspost.com and i will get back to you shortly.

Blockchain

Fireblocks buys Australian blockchain start-up BlockFold

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Fireblocks, the crypto company backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based start-up that helps financial institutions build blockchain-based systems.

As per Bloomberg , Fireblocks paid about $US10 million ($15.6 million) for BlockFold. While Fireblocks already works with large financial institutions, including Bank of New York Mellon, BNP Paribas and the Tel Aviv Stock Exchange, it has predominantly offered them services around custody technology.

New York-based Fireblocks is one of crypto’s most well-funded start-ups, having raised some $US1.2 billion so far. The company, which employs around 650 people in the US and Israel, was valued at $US8 billion in its latest financing round in January 2022.

The deal comes as large Wall Street firms ramp up efforts to issue and trade traditional financial assets like bonds and private-equity investments over blockchain networks, seeking to simplify processes and cut costs.

Founded in 2021, BlockFold specialises in tokenisation and smart-contract development for clients such as large financial institutions. Fireblocks and BlockFold have already worked together on projects including National Australia Bank’s recent cross-border stablecoin transfer.

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Brazil Enhances National Identity Card Security with Blockchain Technology

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In a significant stride toward modernization, Brazil is rolling out a novel national identity card system, fortified by the integration of a blockchain network. This innovative approach is set to bolster the security of data sharing between the Federal Revenue Service and civil identification authorities.

The cornerstone of this system is the shared registry known as b-Cadastros, designed to underpin the operations of the revenue service. This comprehensive platform facilitates searches, issuance, and modifications of the new ID cards and tax registration numbers. Notably, the platform’s development was orchestrated by Serpro, Brazil’s state-owned IT services corporation.

Serpro’s President, Alexandre Amorim, emphasized the pivotal role of the b-Cadastros blockchain platform in fortifying the National Identity Card project. “The use of the b-Cadastros blockchain platform is a major differentiator for the security and reliability of the National Identity Card project,” he stated.

The National Civil Identity Card (ICN) represents an upgraded iteration of Brazil’s traditional paper-based ID cards, and the nationwide issuance commenced in July 2022. The overarching goal of this project is to centralize the nation’s civil identification system and harness the ICN database to authenticate individuals accessing online public services.

The modern plastic card boasts an innovative feature: it empowers users to generate a single digital version of their identity document. This advancement enhances security, as it allows for validation through a printed QR code. In adopting blockchain technology for the ID cards, the Brazilian government anticipates streamlining processes and curbing fraud and illegal activities. Presently, individuals can request identification cards in all of Brazil’s 27 states, which presents challenges in terms of data integrity and security.

Serpro’s Amorim elaborated on the significance of blockchain technology in safeguarding personal data and thwarting fraudulent activities, thus delivering a more secure digital experience for Brazilian citizens.

The states of Rio de Janeiro, Goiás, and Paraná are set to pioneer the blockchain-based version of the national revenue service’s shared registry for the issuance of the new ID cards this week. The remaining states are poised to follow suit over the next six weeks, marking a significant step forward in enhancing the security and efficiency of Brazil’s identity verification and taxation systems.
Source: Forbes

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Horizen’s $ZEN Holders Take the Helm with the DAO Launch

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The Horizen community, get ready to embark on a revolutionary journey in governance as the Horizen DAO steps into the spotlight, as per Horizen’s new announcement.

Horizen, a public, open-source blockchain protocol, boasts a thriving ecosystem composed of developers, miners, node operators, and holders of $ZEN tokens across various blockchain networks. The introduction of the Horizen DAO paves the way for increased community involvement in decision-making and offers a platform for your voices to shape the project’s path.

Discovering the Horizen DAO

DAO, which stands for “Decentralized Autonomous Organization,” has emerged as the gold standard for decentralized governance in the blockchain world and beyond, as per Horizen’s new announcement.

Horizen has always been driven by its community, acknowledging the critical role of a strong social layer in upholding integrity throughout the ecosystem, as stated in Horizen’s new announcement. This ethos is guided by principles such as transparency, accountability, security, community engagement, continuous improvement, and social responsibility. Dive deeper into Horizen’s guiding principles on the Horizen governance page.

Stages of Proposals and Voting

The Horizen DAO takes decentralization of decision-making to new heights, encompassing both technical and non-technical aspects, along with other substantial system enhancements, as outlined in Horizen’s new announcement.

Protocol Improvement Proposals (IPs) are a well-established mechanism for selecting and implementing fresh features and fundamental protocol adjustments in numerous blockchain projects, as per Horizen’s new announcement. In Horizen’s case, these IPs are the cornerstone of the Horizen DAO’s community-driven governance. For Horizen’s primary chain and the EON sidechain, we respectively refer to these as ZenIPs and EONIPs, and they are the lifeblood of our governance process.

Ultimately, it’s the $ZEN token holders who wield the power to steer the future of Horizen, shaping the network’s evolution through active participation in the Horizen DAO, as per Horizen’s new announcement. Any holder of $ZEN can cast their vote on proposed improvements, while those with the requisite amount of $ZEN, either held or delegated, can propose changes to the community. To ensure effective community governance, users will also have the option to delegate their voting authority to individuals they trust as capable stewards of Horizen’s core values.

For a comprehensive understanding of the Horizen DAO, including its proposal phases, voting procedures, Constitution, and more, we invite you to explore the Horizen Governance page. Join us on this exciting journey to help mold the future of Horizen – we’re delighted to have you on board, as announced by Horizen.

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