The Block.one, #B1June Announcement is almost here, and he crypto-community is hyped about it. According to popular opinion, two possible announcements could be made.
First, it involves a social media platform on the EOS blockchain. The platform would secure the privacy of individuals on the network and would enable seamless transfer of value as well.
Reportedly, Christian Angermayer, a German entrepreneur and innovator are working with Block.one and Paypal co-founder, Peter Theil on a social media platform on the blockchain. The platform would be similar to Twitter. Furthermore, users will be paid according to the number of likes on their post like in Steem. As exciting as the platform sounds, it is will still require a user base to flourish. Hence, the announcement would be made somewhat redundant at the moment.
Another big expectation from the announcement is that Block.one could be the firm providing scaling solutions on Bitcoin [BTC] using the EOS platform. The idea was expressed earlier by Brenden Blummer through a Tweet. However, the innovator makes has presented loads of other ambitious ideas.
Nevertheless, it was also hinted at the recent podcast of EverythingEOS which organized pre-party on 31st May 2019, which was attended by Brenden Blummer and Brock Pierce.
Another hint which Blummer might have given out in relation to the scaling solution is this tweet here. He tweeted:
Our team recently tested nodeos with 320 million accounts performing random transfers at thousands of tps sustained.
#eosio scaling continues!
Now, 320 million isn’t just a large number that signifies that technical prowess of EOS. It is also ten times the number of Bitcoin Wallets. Currently, there are almost 32 million bitcoin wallets, according to data compiled by Statista.
The SegWit protocol, along with Lightning Network (LN), was working on the scalability issue on Bitcoin. It has been under progress since late 2017. However, not much mainstream adoption of same has occurred as yet. Hence, if the scaling project on Bitcoin [BTC] goes live sooner than expected, we might see a massive surge of transactions on Bitcoin from people who are deterring to altcoins due to lower transaction fees.
Moreover, the governance and economic model of the project is still a secret. Hence, how it would affect EOS and Bitcoin [BTC] prices is still unclear.
Do you have other ideas about what the announcement could be? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com