Block.One – Business Blockchain Solutions EOS ICO Cryptocurrency?
Headed by the Chairman of Bitcoin Foundation Brock Pierce, a developer of technology solutions including blockchain software development—Block.one—focuses on business-grade technology solutions with global employees and advisors from Asia to the U.S.
In June 2017, EOS, a platform for building decentralized applications and solve the blockchain most prominent problems, announced the opening of its 12-month token distribution, following a new participation model that will occur during that same year.
Background Of Blockchain Technology
Block.One delivers end-to-end solutions to bring businesses onto the blockchain from strategic planning to product deployment. Blockchain technology was introduced in 2008 with the launch of the bitcoin currency.
In the last decade, developers have been trying to generalize the technology to support a wider range of applications on one blockchain platform.
While numerous blockchain platforms have struggled to back functional, decentralized applications, some application specific blockchains such as Bitshares and Steem social media platforms have been popular with thousands of daily users who are active on the platform.
By increasing transactions per second, lowering latency to 1.5 seconds, getting rid of fees and providing an experience that is very similar to those provided by current centralized services, BitShares and Steem have become very popular blockchains.
Other blockchain platforms have been traditionally burdened by large fees and limited computational capacity. Today, two tools that blockchain technology utilizes are EOS.IO software and Ethereum.
The EOS.IO software uses the only decentralized consensus algorithm capable of reaching the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS).
With utilizing this algorithm, those who have tokens on a blockchain, while adopting the EOS.IO software may choose block producers through a constant approval voting system.
Additionally, anyone may participate in production and will be given an opportunity to produce blocks proportional to the total votes they have received relative to all other blockchain producers.
Today, Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any likelihood of interruption, censorship, fraud or third-party interference.
Ethereum was first developed by the Ethereum Foundation, a nonprofit in Switzerland, who collected worldwide contributions for this project, which was bootstrapped via an ether pre-sale during August 2014 by fans
These apps run on a custom-built blockchain, an extremely powerful shared global infrastructure that can transfer value around and signify the ownership of property, allowing developers to create markets, store registries of debts, arrange funds in accordance with instructions given in a future contract and many other things that have not been developed yet, all without a third party or counterparty risk.
Traditional vs. Blockchain
Applications on traditional servers have to be set up with its own servers that can run their own code in isolated silos, making the act of sharing data very difficult. Additionally, if one app is compromised or goes offline, many users along with other apps may be affected as well.
On a blockchain, anyone can set up a node that copies the necessary data for all the nodes to reach an agreement and be paid by users and developers. By using a blockchain, user data remains private and apps are decentralized.
Block.One Recent Launch
Block.One aims to provide businesses with exposure to the benefits of Blockchain technology, conveniently replacing historical internal processes. Its offerings are described as “ensuring end-to-end solutions to bring businesses onto the blockchain from strategic planning to product deployment.”
Block.one is adamant that its platform has removed transaction fees and can process millions of transactions per second. Even though this idea is still mostly conceptual, if put into motion, this technology would prove to be very valuable to future users.