Ethereum expresses developers will now use the proof-of-authority consensus algorithm in order to allow the validators to maintain their reputation and still ensure successful throughoutput of blocks. Let’s find out more in the Ethereum news below.
The blockchain technology has earned the attention of the major names in banking and IT but many other heavy industries such as Google, Facebook, IBM, and Microsoft. Many of these companies invest in the blockchain development sectors of their own decentralized solutions. Businesses are often taken as the benchmark for determining how one technology is useful but the user factor is the one that decides at the end whether a new tech will live up to the expectations.
Blockchain technologies are very paradoxical since they were initially adopted by average online users rather than businesses. In the second quarter of 2019, the number of unique users that have at least one registered blockchain wallet reached up to 40 million people. This is a five-time increase compared to 2016. The upward trend proves that the interest in blockchain among ordinary users is growing despite the downtrend of prices during 2018 and 2019.
During this changing market, Ethereum Express found a way to help the validators maintain their reputation. Being a specialized platform for the strong community of blockchain enthusiasts, it will offer the users a chance of becoming a part of a new generation of a crypto ecosystem with ease and full transparency of all of the operations. For this purpose, the Ethereum Express project develops the tools that will allow the users to generate income without the need to have expensive mining equipment.
The platform is built on the Ethereum blockchain which has been hailed as a major tech revolution in trust management. Given that the bandwidth of the Ethereum blockchain cannot exceed 15 transactions per second, the Ethereum Express developers build another blockchain that operates on the basis of the EEX Coin which is later used for facilitating connections between the world of gaming and mining thus creating a backup global cryptocurrency.
Ethereum Express offers a number of advantages for businesses despite the fact that the system is still under development.
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