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Block.one Strategic Vision
In their 4th and last article regarding their strategic vision for EOSIO, Block.one made it clear why and how EOSIO is built as an enterprise blockchain solution.
Let’s get into the points mentioned one by one:
High-Performance Consensus Algorithms
Part 1 of the Strategic Vision already mentioned constant improvements in scalability are needed for the usage of blockchain technologies to become fit for adoption of the wider public and mainstream applications.
Enterprises seeking the benefits offered by blockchains, such as immutability, validation, and security, can’t compromise their operations with scalability bottlenecks. Block.one is filling this gap and so far has delivered an industry-leading product with EOSIO. And they’ve shown they’re committed to continuing to improve the consensus algorithms with efficient processing and increased speed of finality. The fact that EOSIO is open-source demonstrates the intention to stay flexible, while also enabling many customized versions of EOSIO capable of communicating with each other.
Tools for Regulatory Compliance
Blockchain regulatory uncertainty is still a problem in many jurisdictions, and that includes the USA. In addition to staff for technological development, companies like Block.one must also hire the legal advisory needed to navigate the vastly different regulatory environments present across various countries. Operating a global blockchain company is challenging, and often comes with no legal precedence, leading Block.one to be one of the pioneers in this area.
As they mention: “Inherently, the immutability and transparency of any blockchain lends itself to audit and compliance.” But to demonstrate here the complexity of the occurring issues, it’s some aspects of exactly these features that would potentially cause problems regarding GDPR laws in Europe. However, again through EOSIO’s flexibility, the software can potentially adapt to the regulatory requirements of different jurisdictions while still having a united user base.
The tokenized economy has a variety of benefits for different business models – from customer integration through trustworthy rewards systems, to providing flexible and transparent ways to govern a company through DACs. The process of issuing and managing customized tokens for a specific use case can still be optimized. In order to unleash the full potential of tokenization, intuitive and stream-lined interfaces are necessary – not only to provide technological solutions, but also to offer legal guidance that allows enterprises to be confident that their products are compliant.
In part 3, Block.one highlighted improvements that are coming in order to make users’ interaction with the blockchain more secure. For enterprises, these new features are even more critical. Not only is their capital at stake, but also their corporate reputation. In part 4, Block.one responds, “our team is looking at integrating multi-signature authentication and enabling hardware keys for block producers, in addition to bolstering the infrastructure for key storage and permission systems. This will deliver enterprises a means to better protect the accounts by implementing more dynamic security measures.”
After 4 weeks with 4 articles released, it’s clear that Block.one has not just a vision, but is already taking the steps to realize what’s been introduced. The strategy that’s been laid out here is based on a thorough analysis of the blockchain industry’s pain points and presents solid ideas, products and partnerships to overcome them.
Compared to other blockchain companies, it’s no secret that Block.one is in a unique position, given their financial situation. They have the resources to plan for the long run, hire and train the best of the best and choose quality in all aspects.
The fact that this strategic vision comes without deadlines might throw some people off, but ultimately it demonstrates maturity in knowing that many moving parts need to be considered. Block.one wants to execute properly and they are willing to take the time it needs to accomplish their goals. In the long term, we expect this kind of attitude to earn the trust of investors as well as regulators.
Dan and Brendan have been absent from social media in the last few weeks but this silence ended when Brendan Blumer assured us that they’ve been working heads down on their products, but also observing the recent discussions about decentralized governance.
Block.one’s goals won’t be reached by them alone. They’re depending on us, the community of users, developers and Block Producers, to give them feedback as we use, build and maintain the EOS public network. The overall development of EOSIO will be achieved through parallel development by many teams, and it’s great to see how Block.one encourages and shines their spotlight on smaller teams of developers like EOS Studio. The Block.one Developer Relations team is committed to highlighting great #EOSIOTools, like EOS Studio, that make dApp development on EOSIO as easy and intuitive as possible.
The EOS Community, driven through the spirit of “coopetition,” has achieved great things and has been conducive to many lively discussions across a variety of plaforms. While EOS related Telegram and WeChat groups became the online place to connect, inform and be informed, there are also many offline activities happening all around the globe.
Those meetups, conferences, educational activities, hackathons and webinars bring an incredible value. And EOS Authority has done a great service in creating an enticing platform to list all those events, online and offline, in one place.
EOS Events is an open platform for sharing globally what is going on locally, and the aggregated documentation of these events brings a lot of value to the community. All events are shared in the EOS Events Telegram group, and you can easily set up reminders for the events that interest you.
One of the bigger events featured on EOS Events is the upcoming ECC in Rio, which EOS Nation is proud to sponsor. The 2nd Annual EOS Community Conference (ECC), organized by the wonderful teams at EOS Rio and EOS Argentina, promises to be an event that should not be missed!
It includes the Rio Blockchain Conference, an EOSIO networking dinner, a developer workshop and a 2 day (un)conference in the same style as the first ECC that was held in Seoul last year, which proved to be a successful method for bringing pressing issues forward and finding solutions together.
Token Pocket’s Decentralized Identity Complement Project
Since its inception, EOSIO account names brought great improvements to blockchain account systems as they presented the option to customize public addresses so that they can be easily memorized and recognized.
An EOSIO account, if desired, could become an identity. Or, in the context of gaming, could be your gamer tag that is shared across all the games you play, allowing for some additional incentives to gain popularity and fame on the leaderboards of blockchain games.
Token Pocket is a feature-packed EOSIO wallet that is working towards this vision. Their DCIP contract, allows users to create profiles for accounts and add data such as an avatar, a nickname, a description, and contact information. Make sure to read the article – the team implemented an interesting twist to the function of editing account information by adding some FOMO dynamics to the incentive structure.
We’re happy to report that this contract is getting adopted by many other browsers, wallets, and dApps, allowing users to get to know each other better and compete together across a variety of dApps and platforms.
Bye bye, Freedom Proxy
There are many proxies offering voting services for EOS Token Holders who don’t have the time or desire to research which of the many great BP teams deserve their votes.
In the early days, there were not so many proxies to choose from, and Freedom Proxy was one of the first professional and active proxies. They stimulated many discussions, were always transparent in their decision making, and polarizing when needed.
During their journey, they grew their network of influence and gained valued experience, which gave birth to 2 new projects: Tokenyield and EOS Radio.
Last week Ashe Oro and Zane Whitener decided to unregister the Freedom Proxy, but not without sharing their insights and experiences with the community during a very special episode of the EOS Radio.
Thank you Ashe and Zane for all the work you did as Freedom Proxy!
Games, games, games!
Blockchain-based games and the potential of true ownership of digital assets are definitely seen as gateways for the first wave of blockchain mass adoption. It’s great to see that EOSIO projects are taking the lead to develop the space in this direction and gaining popularity on multiple levels.
Given the amount of money Top Players of EOS Games are already spending in these early stages, it comes as no surprise that companies like Mythical Games, funded by EOS VC Galaxy Digital, was featured in Forbes Magazine as one of the “10 Disruptive Technology Companies To Watch In 2019.”
Another representative success story would be Prospectors, which continued its breathtaking rise to the top to now being the most used dApp across all chains, just one month after launch.
With a still evolving game play, Prospectors regularly adds new features such as the land registry and keeps the excitement for the game going.
Being a real-time strategy game, people are building up characters and careers in a parallel world and, with experience, become a source for valuable information for many new users. On that note, Prospectors began a series of interviews with Prospectors players to share their diverse strategies and reasons why they believe in the game. The first of these interviews featured a player named Itachi, whose style of playing was named “Nomad,” meaning he doesn’t rent any plots. Actually, he started to play with just a Golden Ticket in his hand and has made great progress so far.
EOS Knights is another very popular game with a significant amount of users. It came out very early and kept developing since. Users can now build villages and extend the activities of their heroes. The Wombat Wallet, which recently integrated EOS Knights in their dApp explorer made a nice tutorial explaining all of these new features.
Wombat is a product of the CHAINWISE group, and besides the wallet, they are also actively developing EOSIO based games. Their first release, Chain Clash, is entering the next phase, and they’ve shared a tutorial to make sure that the beta testing phase goes smooth even for users unfamiliar with EOS accounts.
FastEco, who previously released the Fast Hero game, kept working to now release Super Hero, a 3D RPG world of adventure, quests and epic battles. The beta testing is open now and users can earn rewards for finding software bugs while enjoying the game. If you want to participate just join the beta testing group on Telegram.
One of the main reasons blockchain games are so promising is the capability for users to own and therefore ultimately earn digital assets through playing the game and spending time developing their characters. Undoubtedly, there’s value generated that can be monetized through marketplaces. Non-Fungible Token (NFT) standards need to be developed to assure that assets are interoperable, and also create ways to build scarcity into the assets themselves.
There are several standards currently worked on such as dGoods, and Simple Assets created by the Block Producer Crypto Lions. The latter, Simple Assets, was recently adopted by WAX, a popular EOSIO based chain that is specialized in trading of gaming digital assets. What a great success for Simple Assets, congratulations to the team!
Now when we’re talking about NFTs, we don’t want to give the impression that these concepts would be only related to game assets. Far from it. The opportunity to create reliable ownership of digital assets can be applied to a large variety of use-cases and products, such as concert tickets, music or video files, digital books, art – the list goes on and on. In this context, we’d like to encourage you to read the great article by Quillhash about even more complex opportunities of partial ownership.
Happy birthday Newdex
Shortly after the first EOS based tokens were in circulation, Newdex created the first and much-needed platform to trade these tokens, which has been essential for the growth of the EOSIO economy. It quickly became the go-to place for many EOS Token Holders, due to a reliable service and intuitive interface. Their smart contract enabled “matching and on-chain settlement” has set new standards for DEXs. The latter caught the attention of many people in the overall crypto space since it’s a unique feature to enhance security of decentralized exchanges in general.
Newdex has been the first and is now the biggest decentralized exchange for EOSIO based tokens. On the 8th of August, they celebrated their first anniversary. And, given their impressive track record, many members of the global community have sent their wishes, which were compiled into a nice video to celebrate Newdex and community that’s built around it. Newdex also revealed a private key treasure hunt, so make sure to check it out!
Congratulations to NewDex from the whole EOS Nation team!
New Regproducer Contract and setupassert approved
Two very interesting proposals were approved and executed by 15 out of the 21 producing nodes of the EOS public network this week.
With great pleasure, we can report that the “updateabi” has been passed, which effectively updates the regproducer contract and raises the technical requirements for producing nodes on the EOS public network.
Shortly after approval, EOS 42, the proposer and main driver of this initiative, tweeted, “the updated regproducer has been approved by 15/21 and executed! Block production will be more efficient and EOS will be more secure. Despite growing pains and difficulty, EOS governance is evolving in a very positive direction.”
The details and motivations of this newly implemented agreement are laid out in a previously released Medium article, and we encourage you all to give it a read.
The Colin Talks Crypto Proxy also deserves a mention here as he effectively voted in Block Producers that were in favor of the change. In a YouTube video, he gave insights into how it all went down and demonstrates that active proxies are an important pillar in the EOS Governance model.
The second proposal came from top 21 BP EOS LaoMao. They made it their mission to be the first to build out the wallet code, known as the authenticator, that was open-sourced by Block.one. After building the wallet, the contract “eosio.assert” needed to be deployed for the additional security features of the authenticator to be functional.
Eosio.assert was introduced by Block.one in May 2019 and aimed to reduce the need for users to trust blockchain apps and instead have wallets implement certain standards to filter out malicious applications.
EOS Nation is a top Block Producer on the EOS public network. Help us continue to add value by staking your vote to eosnationftw for BP!
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Disclaimer: The information provided above does not constitute investment advice, financial advice, trading advice, or any other type of advice whatsoever, and the information on our website should not be trusted as such. We present this information to you as general market commentary. The information does not constitute investment advice or any professional financial advice of any sort whatsoever. We do not advise or recommend that you buy, sell, or hold any cryptocurrency, digital token, ICO, or digital asset whatsoever. We advise users to conduct their own due diligence and consult with a qualified financial advisor before buying, selling, or holding any type of digital asset or cryptocurrency. We will not be held responsible for any investment decisions made based on the information provided on the website.