Bitcoin Global News (BGN)
June 06, 2018 -- ADVFN Crypto NewsWire -- If you kept your EOS tokens after the launch of the main net this week and you have the Infinito Wallet, then it seems that you are in luck. If you don’t know what this wallet is already, then a quick analysis of their offering as well as how they’re positioning themselves, may serve to make this clearer.
In the sense that it exists now, EOS is a platform for the creation of decentralized applications. This means that it does appear to be the same thing as Ethereum at first, however, Infinito claims that EOS is a future market powerhouse in that it has two key differentiators.
First, they mention the two concepts of parallel execution and asynchronous communication methodology. In a press release which was recently published by Cointelegraph, Infinto explains these features by saying that they both lead to a consistent level of around 300,000 transactions per second.
To put that in perspective, Ethereum currently does between 10-20 transactions per second, if one aggregates several sources with different views on the subject. It’s also important to be clear that since the EOS main net has only been active for a few days, it is not logical to claim that the network can handle this immense level of transactions.
In stating this, it’s also reasonable to assume that Infiniito Wallet is merely sticking with the EOS message because it’s now, effectively, an EOS partner, at least in the decentralized sense of the term. EOS and Infinito have also publicly declared that the network has no need for transaction fees to support mining, simply because the network runs on Delegated Proof of Stake.
For a quick recap, this means, on a basic level, that everything is approved through user voting and the users that hold the most coins have the most voting power. While EOS asserts that its process is more complicated than this, this is what Delegated Proof of Stake exists as, until the network proves it to be otherwise.
In acting first, Infinito is attempting to position themselves as one of the first roads to full connection to the EOS ecosystem. Overall, in terms of their product, they style themselves as one of the market leaders in Cryptocurrency wallets, while at the same time, being a practical product that carefully chooses each and every partner with the overall goal of building “an ecosystem of practical blockchain services.” As of now, all of this appears to be quite up in the air as the Infinito has only a few credible reviews as well as a few reports about them, due to the fact that they are relatively new to the space.
When all of these facts are taken into consideration at once, it may be said that Infinito has jumped in at just the right time, in an attempt to be the Bitcoin of the EOS ecosystem. If EOS does prove to be a successful, widely used network with a wide-reaching group of Dapps, then it is easy to see how Infinito will be a powerful member of that network. If not, then EOS will end up like any network that depended on network effects to grow and never really hit the big time.
By: BGN Editorial Staff