At the 4th DC Blockchain Summit 2019 held earlier this month, Eren Development Company Block.one CEO Brendan Blumer (BB) commented on his views on Bitcoin. Block.one, a company registered in the Cayman Islands, developed the EOS network, one of the largest platforms for building and deploying decentralized applications (dApps), and is considered the largest competitor of Ethereum.
BB said that as the first and largest cryptocurrency, Bitcoin has a “fundamental change in meaning.” Bitcoin has revolutionized traditional financial transactions and existing limitations.
In addition, he believes that bitcoin is expensive if it takes into account the annual inflation caused by block rewards. According to his estimates, Bitcoin currently requires 1,500 BTCs (new circulation) per day to protect 360,000 transactions, and the security cost per transaction will be $50 to $100, which is not an additional transaction fee. In addition, according to the source, the Block.one CEO said that the limit of three transactions per second on the Bitcoin network is a huge limit on the size of Bitcoin.
As a major supporter of EOS, he has been showing bitcoin recently, he said,“I also like Bitcoin, but it doesn’t make it fast and cheap. Bitcoin has everything it needs to succeed. Bitcoin will be the world’s largest value storage tool. EOS is not meant to compete with Bitcoin. Designed, it is optimized for different use cases.”
Recently, EOS founder Daniel Larimer (BM) said that EOS has reached a new milestone, creating a new record for the number of “operations” handled in one day. In the end, the network successfully processed more than 70 million times in 24 hours, averaging more than 800 times per second.
According to previous reports, two heavyweights of EOS, BB and BM, have recently released news, indicating that they will do big things in June. The community has also been speculating about what heavy news EOS will release. On April 7, BB said on Twitter,“If Bitcoin can flow to the EOS network and be able to trade almost freely and in real time, it can also be programmable and scalable.”
BB also said that“I am very optimistic about Bitcoin, but I am also very aware of its limitations; Bitcoin and EOS are not one or the other, Block.one is focused on enhancing these two technologies.”
BM also forwarded the tweet, which triggered speculation that EOS’s upcoming big move is likely to be related to Bitcoin. According to Babbitt’s previous report, BM said it will release the biggest news since the birth of EOS.io in June.
Source: Babbit.Chain Ventures