Block.One Launches EOSIO, Inks $50 Million Deal With SVK Crypto 11420
News
Sharat Chandra
Jun 2, 2018 at 8:48 PM

Block.one declared the launch of the EOSIO blockchain software today in a blog post on the company's website. EOSIO is lauded as an innovative decentralized protocol for both enterprise and community applications. Block.one is an open source software publisher specializing in high-performance blockchain technologies. Its first project, EOSIO, a blockchain protocol is created to facilitate secure data transfer, and high-performance decentralized applications have received global accolades as the first performant blockchain platform for developers. The EOSIO engineering team is led by Dan Larimer, the inventor of the revolutionary Delegated Proof of Stake (DPOS) consensus mechanism. DPOS processes the majority of blockchain transactions globally.

EOSIO is designed to include:

  1. Free Rate Limited Transactions
  2. Low Latency Block confirmation (0.5 seconds)
  3. Low-overhead Byzantine Fault Tolerant Finality
  4. Optional high-overhead, low-latency BFT finality
  5. Smart contract platform powered by Web Assembly
  6. Designed for Sparse Header Light Client Validation
  7. Scheduled Recurring Transactions
  8. Time Delay Security
  9. Hierarchical Role Based Permissions
  10. Support for Biometric Hardware Secured Keys (e.g. Apple Secure Enclave)
  11. Parallel Execution of Context Free Validation Logic
  12. Inter Blockchain Communication

Block.one is neither starting nor working any initial public blockchains based upon the EOSIO software. The company has cautioned those who choose to use blockchains built on EOSIO to carefully. They need to verify the companies and organizations launching blockchains based on EOSIO before disclosing any private keys to their derivative software.

EOS is currently witnessing a significant spike in price. The token is now up by more than 16 percent in the last 24 hours according to CoinMarketCap. Much of that increase occurred during a four-hour period on today, June 2, 2018.

Block.one has also spilled the beans about a $50 million collaboration with SVK Crypto. The partnership intends to design useful applications built on the EOSIO blockchain software. Brendan Blumer, the CEO of Block.one said,"Working with a market-leader such as SVK Crypto is a positive step as we grow the impact and footprint of the EOSIO developer ecosystem. This fund further strengthens our top-notch roster of VC partners focused on identifying and fostering projects that are building a decentralized, open future."

Image via Block.one Website

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