EOS Hot Sauce is a weekly digest of all the hottest topics from around the EOSIO ecosystem. The space is evolving so rapidly it can be hard to keep up! We keep on top of it so you don’t have to.

Venezuela Loves EOS Marketplace

eos marketplace venezuela
eosmarketplace.io

EOS is becoming a nationwide tender for goods and services in Venezuela. 

With an inflation rate of 6,500%, the Venezuelan economy needed money that would work for them. EOS proved a trustworthy solution, and the introduction of the EOS Marketplace was the catalyst.

eosmarketplace.io

EOS Marketplace allows shoppers to view in real-time all the businesses in the world that accept payments in EOS, with zero fees. The marketplace hosts several business categories like fast foods, car parts, pharmacies, and restaurants, smartphones, among others. Venezuelan businesses lead the platform by a long shot, with over 600 businesses accepting payments in EOS. 

It’s become a perfect example of the financial disruption cryptos are capable of. 

 

It’s just like Dan Larimer said; 

“When fiat collapses #EOS will be ready for online payments while no one can afford to transfer on other networks.”

 

Manuel Eladio Estévez, an Ambassador and Administrator of the EOS Marketplace in Venezuela, shared his thoughts:

"EOS for us is very practical because it allows us to make an economic exchange without inflating prices or losing commissions... EOS Marketplace has been the meeting point for traders and users to use this system and currency, the project provides completely free accounts and advice for the use and exploitation of the same."

Manuel Eladio Estévez

 

This is a huge boost to EOS, as it further proves its capacity for mass adoption as a currency. It’s worked very well, and members of the Venezuelan community believe it could get even better. On this note, Manuel said:

"Currently there are affiliates from 26 cities in Venezuela, last year at this time we had only 3 cities, this is growing exponentially, it has reached mostly small cities where merchants and users make a community more easily... We have producers of the field (21 farms), several manufacturers of handmade products and medium enterprises, most of them receive an alternative (EOS) that gives a new air to their economy... I believe it will continue to improve."

Manuel Eladio Estévez

 EOS is scalable, super-fast, easy to use and almost feeless. Could it become a global medium of exchange? It sure feels good that its potential is being realized to the benefit of thousands in economically challenged countries. 

LACChain used by Citi group for Cross Border Payments

Citi, a multinational finance giant, has partnered with the Inter-American Development Bank (IDB)  to pilot cross-border blockchain payments

The transaction, which took place on LACChain, comprised an initial stage where US Dollars were deposited in a Citi account at the IDB Headquarters in Washington D.C. These funds were then tokenized and hosted in a digital wallet, after which they were sent to another digital wallet in the Dominican Republic. The tokens were thereafter converted into Dominican Pesos at an exchange rate set by Citi. 

"Exchange rates, payment status, and fees were traceable and transparent at all times as the transaction could be checked in the LACChain Blockchain,”

Marcos Allende, IDB Specialist in Blockchain and Technical Leader of LACChain.

There are no timelines for commercial use capabilities of this service. This project is more of a demonstration of how the IDB believes blockchain technology can better cross-border payments in development assistance and international remittances.

LACChain, the blockchain on which the transaction was carried out, runs on EOSIO technology. LACChain is a public permissioned consortium blockchain for Latin America and the Caribbean backed by the IDB, and a partner of Block.one. 

With another breakthrough for the EOS blockchain on the table, could EOS really be the blockchain for banking? With a maximum live-environment capability of 3996 transactions per second, it could achieve 340 million transactions per day, which would easily trump MasterCard’s 242 million transactions and rival Visa’s 388 million. This is not yet minding the fact that the test network of the EOS Blockchain reached 9170tps, translating to almost 800 million transactions a day, which would exceed Visa and MasterCard’s numbers combined. 

These impressive numbers aren’t the only factors that lend to the credibility of EOS in the banking sector, however. Google Cloud’s partnership with the EOS project for cloud solutions, the opportunity for banks to exploit digital assets while enjoying the benefits of EOS simultaneously, and Block.one’s good relationship and compliance history with the authorities all contribute to EOS staking a legitimate claim to the “blockchain for banking” title.

PowerUp Transition Now Fully Complete

The new PowerUp Model has now fully replaced the old staking model on the EOS Mainnet. EOS Authority has put up a small blog post explaining the main changes, what this means for ordinary users, and the various options now available to manage your resources. These include:

If you have more questions, please visit the EOS PowerUp Model Telegram group.

WAX NFT Hype Continues To Grow

TOPPS

Topps and Major League Baseball will be releasing the 2021 Topps Series 1 Baseball NFT collectables on WAX on April 20 at 1 PM ET. The tokens will be creatively reimagined digitized versions of the artwork from the previously released physical 2021 Topps Series 1 Baseball release. 

The Topps Series 1 Baseball NFT release will comprise standard and premium collectable packs on sale, with card rarities ranging from Common to Legendary and even Legendary Limited-Edition 1-of-1 Platinum Anniversary cards. The launch comes on the NFT blockchain giant WAX, where the sale is also going to take place.

With each pack containing 25 cards each, it’s sure to be a hit among Baseball and NFT lovers, a real home run in fact.

BITBOY

Another solid addition launched on  WAX this week in the form of Bitverse Comics by Bitboy Crypto. 

Bitverse is a crypto-based digital universe with so-themed superheroes and villains jostling over the fate of Digital City. There are 168 NFTs across different 18 characters with unique equipment, mash-ups, and location cards. 

The Silver pack went for $9.99 USD and has an available quantity of 6000 units, contains 10 cards; while Gold packs go for $24.99 USD, have an available quantity of 3000 units, and contain 30 cards. The packs can be collected, traded, and gifted, with the promise of additional utility in the coming months. Collectors of all 168 cards will also have a physical deck builder game mailed out to them. 

RAREZ

The marriage between NFTs and the music industry is on, and it’s happening on WAX. A union between Emanate, the blockchain based music project, and NFT heavyweights, WAX, has birthed Rarez. 

Rarez is an experimental new music NFT brand owned by Blockchain Music Pty Limited. This brand tokenizes scarce music and valuable merchandise from the music, bringing them into the digital realm. A popular example of NFTs hosted on Rarez is the deadmau5 NFT series launched in December 2020. 

In delightful news for the digital music community, the brand is making sleek moves in the virtual media industry, the most recent of which is the announcement of its verification on Atomic Assets. The announcement tweet also included an anticipatory message for Rarez’s Gold and Silver Badges, which can be collected by enthusiasts. This will come after the introductory Black OG Badge every new member of the Rarez community gets. Sounds good? Check it out.

#EOSIO Swiss WORKSHOP #8 - April 23rd 1530 - 1730 UTC

The online EOSIO Swiss Workshop experience is back again on April 23rd for its 8th edition. Organized by Patrick Schmid, CEO/CTO of NovaCrypto and EOS Nation Swiss Ambassador, the fantastic workshop features a star-studded speaker lineup that includes:

  • Chaney Moore, CBO Cryptowriter
  • Martin Breuer, Co-Founder of .gems
  • Maurice Venegas, CEO of EOS Micro Loans
  • Tal Muskal, CTO of LiquidApps

This workshop’s theme revolves around Governance at the Platform Level for BaaS and includes the following topics:

  • Quality content through Voice and NFTs 
  • Micro transactions with EOS/EOSIO
  • Governance at dApp Level & Data Agent
  • NovaCrypto – MindWeb.io for EOS

These workshops seek to empower developers and enthusiasts with the requisite information and exposure to maximize the opportunity dApps, EOS, and other novel innovations have brought to the world’s fingertips. EOSIO Swiss Workshop #8 is coming up next week and should not be missed!

Get in the mood by watching the workshops’ video announcement.

EOS Nation is a top Block Producer on the EOS public network. We earn inflation rewards based on the percentage of tokens staked towards us. Those rewards are reinvested into EOSIO community, tools, and infrastructure. Help grow the ecosystem by staking your vote to eosnationftw for BP or proxying to proxy4nation

Remember, we never accept compensation in exchange for featuring projects in the EOS Hot Sauce. That means if a project is included in the EOS Hot Sauce it’s because we believe that project brings value to the EOSIO ecosystem and we want our community to know about it!

Are you building an interesting project on EOSIO? We want to hear from you! Reach out to us on social media or email info@eosnation.io. 

Thank you for supporting EOS Nation and for reading this week’s edition of EOS Hot Sauce! Want more spicy updates? Check out some of our recent EOS Hot Sauce episodes!

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Daniel Keyes

Chief Operating Officer (COO)
Responsibilities include: product management, operations, community
Location: Toronto, Canada

Prior to founding the first EOS community in Toronto and co-founding EOS Nation, Daniel spent a decade in the financial technology industry working several diverse roles. His extensive experience in customer service, sales, sales coaching, agent training, digital marketing, digital process management (lean green belt), and product management (certified scrum master, certified product owner) eventually lead him to consulting for a blockchain dev shop.

Daniel earned a Bachelor of Journalism from Ryerson University in 2009 and worked as a chase producer intern at Global TV.

Daniel lives by the principles of Truth, Love, and Freedom.