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
News:
Infinito
Wallet
EOS (EOS)
Ethereum
(ETH)
Cryptocurrency
Cryptocurrency
Wallet