The EOS blockchain project, which is known as one of the most highly potential blockchain projects out there, seems to be working under full steam lately. As of recently, the project announced the onboarding of new users by reducing the cost of opening accounts.
In other words, EOS New York, which is one of the network’s 21 block producers, announced that 15 block producers had approved a new protocol update which will reduce the cost of a new account from 3 kibibytes (KiB) to 3 kibibytes (KiB) accordingly – which converts to $1.84.
The change will also grant new accounts 1,400 bytes of RAM for free, even though the existing accounts can buy, delegate or un-delegate their RAM to receive 1,400 bytes for free. The accounts on the EOS blockchain are very important and vital for transferring tokens or launching transactions within the network.
According to the post, creating new accounts is something that is very important for the platform which is why they are changing it in the early adopting phase, stating:
“EOS account creation cost is an extremely important aspect of the health of the platform. Many users of EOS decentralized applications are early adopters, people who are eager and willing to spend the time to understand the EOS blockchain. But in the future, users will not be as eager.”
The post concluded with a note on the importance of hiring new dApp developers as the best way to create users’ accounts or otherwise force users themselves to pay to create accounts. This would lower the cost and “dramatically reduce the barriers in development” as the company said.
Most Cryptocurrencies Report Slight Losses, Bitcoin Cash Grows Continuously
MakerDAO Will Focus On Security Tokens For Their New Feature Rather Than BTC
“The first one is that it can support multiple collateral types. This, of course, means ERC-20 tokens. It also means Bitcoin through WBTC. A range of cross-chain assets that are emerging now. Also, there will be other stablecoins. Centralized stablecoins that already exist on the Ethereum blockchain. But most importantly, security tokens.”The MakerDAO foundation initially owned all of its MKR tokens but as Rune explained, they sold them off to multiple huge players in the EthereMum world in order to fund teams of 100 people. He says that MKR exists only to be able to vote in the system. The system rewards people who hold CDPs and when everything goes well, the MKR total supply is reduced, tokens get burned off and the value of the remaining tokens increases. Dai is extremely unique and some consider it as the real stablecoins, unlike the pegged coins. Dai is built on an open system so people who invest in cryptocurrency can access the stability of the Oracle system. Christensen also explained how real security tokens operate better in the world of traditional assets. He said:
“Security tokens are still something that is quite new. But what that really represents to Maker is the ability to now interact with real-world assets. The ability to interact with real-world finance and provide arbitrage opportunities between the traditional finance world and the tokenized world. That means that in the future the Dai will not just be backed by volatile cryptocurrencies, but things like real estate, bonds, and stocks.”The most important way to use Dai is as a stablecoin. If anything happens to the Ethereum network, there could be some negative consequences to the market but MakerDAO couldn’t get in a worse position than the one last year.
Tether’s Reserves ‘’May Include Assets Other Than Fiat Currency’’: Website Update
Analysis: Bitcoin Finally Pushes Over $4,000 As Other Cryptos Experience Growth
Join us on Facebook
- Ledger Nano S Wallet Receives First Level Security Certificate From French ANSSI
- The Recently Hacked Cryptopia Exchange Will Resume Trading By The End Of March
- IBM’s Now-Live Blockchain Network Wanted By Six International Banks
- Korean IT Conglomerate Kakao Integrates Crypto Wallet For 44 Million Local Users
- Most Cryptocurrencies Report Slight Losses, Bitcoin Cash Grows Continuously
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
Bitcoin Dominance Falls To 2019 Low: Is The Altcoin Season Here?
Blockchain News5 days ago
Vitalik Buterin: Non-Financial Blockchain Use Cases Are A “Harder Pitch”
Bitcoin News5 days ago
TRON CEO: ‘Bitcoin Is A Technology – Not A Business Opportunity’
Altcoin News5 days ago
Bitcoin And Altcoin News: Tokens Trading Near Infection Point
Bitcoin News4 days ago
Two Thirds Of Crypto Investors Are Bitcoin (BTC) Maximalists: Poll
Altcoin News5 days ago
Universal Bitcoin (UPBTC): The New Tokenized Bitcoin Coming To Ethereum
Bitcoin News4 days ago
BTC Is Cheap Until April, $3,000 Price Won’t Be Seen Again: Trader
Altcoin News3 days ago
Bitcoin Slowly Reaching $4,000 While Stock Market Goes Green