It's Just Technology
Ethereum has been getting all the buzz but EOS is seeing massive early adoption. Some of the drivers of rapid adopting are based upon its elimination of transaction fees and also the ability to scale to millions of transactions per second.
EOS has recently hit #1 on Blocktivity.info
Public blockchains are decentralized and distributed across a large network of computers (at least that’s its intention). This reduces the opportunity for data tampering, which is designed to create trust in the system.
Some blockchains can be public and open to anyone. Others can be private. There are also hybrids which can use variations of public and private data.
One profound factor of blockchain is the bypassing of a reliance on third parties, such as lawyers in the real estate and other markets, to verify the actuality of certain circumstances — land titles, for example. The video above explains blockchain and its capacity to reduce the need for intermediaries.
Blockchain is a database and software system that is in the early stages of revolutionizing the internet and online transactions.
The internet made global communications and transactions inexpensive and accessible to most. However, the internet is not secure enough. Which is why, in spite of great security improvements, major security breaches and hacking scandals are regularly in the news.
Blockchain upends the existing database model: In addition to greatly improving security, it makes transactions so transparent that any tampering is readily observed and rendered invalid.
It’s not an iterative improvement. It’s a massive leap forward that is in the early phase of transforming local and global commerce.
It’s capacity for good is breathtaking. But it will disrupt more businesses than ever, because it greatly reduces and/or eliminates the need for middlemen. Banking and contracts are only the beginning. The reality is companies will adapt or die.