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EOS: the blockchain meets Brian Armstrong's development requirements

en.cryptonomist.ch 08 April 2020 07:00, UTC
Reading time: ~2 m

A month ago, the CEO of Coinbase, Brian Armstrong, mentioned the future of cryptocurrencies in a series of tweets, listing a number of features, namely scalability, privacy, decentralized identity and tools for developers, that would determine the success of a blockchain. The EOS fan community responded that they had met these requests.

As far as the scalability of the EOS blockchain is concerned, the number of its transactions reached just under 10,000 TPS on the testnet, which shows it is possible to already handle an impressive amount of data. 

It is no coincidence that, in mid-March, EOS had exceeded 100 million transactions in 24 hours without congesting the network.

At the moment, explains the post, EOS’ current implementation of EOSIO can support up to 3996 transactions per second (TPS).

In terms of privacy it must be said that the EOS blockchain does not guarantee private transactions and anonymous accounts. In order to address this aspect, there is the Peos project, which allows transactions to become private thanks to its protocol and thus effectively obscure the origin of the transaction, providing anonymity.

The third interesting point concerns the decentralized identity, which is a system that allows anyone to manage their data and to identify a single person behind an account. In this case, it is a patent for identifying users, which will most likely be implemented in the decentralized social network Voice, where a standard KYC (Know Your Customer) procedure is required, but which may be removed from what can be read in the patent.

Finally, there is a section for development tools: for example, there is the EOSIO Quickstart Web IDE that can be accessed through a browser, or even the official testnet that can also be accessed through a browser and therefore without installing multiple programs.

Finally, it is worth mentioning their EOSIO Developer Portal, “which contains a library of resources to learn, understand, and build on top of EOSIO”.

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