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Block.one Launches EOSIO, Signs $50 million JV Partnership with SVK Crypto

Block.one has announced the launch of the EOSIO blockchain software. The release of the open source EOSIO 1.0 was revealed via a blog post on the company’s website on June 2, 2018. EOSIO is touted as a revolutionary decentralized protocol for both enterprise and community applications. The EOSIO launch also coincides with the establishment of a $50 million partnership between Block.one and SVK Crypto.

EOSIO 1.0 From Block.one

These appear to be exciting times for the EOS movement as a whole with the mainnet launch and now the release of the EOSIO blockchain software. EOSIO can operate without the need for accompanying digital token assets. However, the program can also be configured to allocate resources via market fees, voting, or staking protocols. Thus, EOSIO can be implemented for both public community-focused blockchains and corporate enterprise blockchain solutions.

EOSIO is designed to use either of two Web Assembly engine configurations – Binaryen and WAVM. According to Block.one, EOSIO encompasses the following design features:

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

EOS is currently experiencing a marked increase 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.

A few Words of Caution

While launching EOSIO, Block.one provided a few words of caution for potential users. The blockchain program is presented “AS IS.” Thus, users must take care to verify the viability of the companies that build protocols on top of EOSIO before interacting with them. The company also urged developers to take note that the third-party libraries used are provided in “AS IS” conditions as well. Block.one bears no liabilities for any damages that might occur while using the EOSIO blockchain software.

The Block.one – SVK Crypto JV

In a related development, Block.one has also announced a $50 million partnership with SVK Crypto. The collaboration aims to develop useful applications built on the EOSIO blockchain software.

Commenting on the partnership, Brendan Blumer, the CEO of Block.one said that:

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.

The $50 million partnership is the fifth funding round carried out via Block.one’s EOS VC initiative. According to the announcement, SVK will be in charge of the funds. Speaking on the collaboration, Hugh Cochrane, the co-founder of SVK said that:

Block.one has created the world’s most powerful infrastructure for decentralized applications and is the most forward-thinking company driving growth in the blockchain space. SVK Crypto is thrilled to partner with Block.one to establish a fund that enables developers to thrive. We look forward to helping to produce innovative game-changing DAPPs in the coming months and years.

Will Block.one’s EOSIO blockchain software contribute to taking EOS tokens “to the moon?” Do you think the partnership between Block.one and SVK Crypto will create more use-cases for the EOSIO blockchain? Keep the conversation going in the comment section below.

Images courtesy of Block.one and CoinMarketCap.

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Current EOS (EOS) Action In The Markets Might Just Be The Beginning

EOS (EOS) is once again performing well in the cryptocurrency markets. Current value puts the token at a price of $14.58 and up 7.27% in 24 hours. Similar EOS price mobility in the upward direction was witnessed yesterday when it was doing 16.37% gains in 24 hours and valued at $13.50.

Recent market performance indicates that EOS has enjoyed considerable gains from the start of April when it was valued at around $6. But as soon as the EOSIO Dawn 3.0 version of the platform’s Testnet was released on April 5th, it has been gains after gains by the token belonging to the project that has been dubbed as the Ethereum killer.

Going back further in time, EOS had reached $18.23 on January 13th. With the current momentum of the token, this value looks like being shattered very soon.

What is EOS’s potential in the markets?

This is a very wild question that only time and product will tell. If the EOSIO 1.0 platform is released without a hick-up and on time, the price of EOS could be in the double digit dollar range for quite some time.

What might happen, is a market performance similar to Ethereum (ETH) before the ICO boom that started mid last year. Back then ETH was flirting with $50 around April but as soon as crypto started being reported by mainstream media, all hell broke loose to the point of ETH finishing the year at a value of around $730

What will EOSIO 1.0 do for the coin?

Sometime in June, EOSIO 1.0 will be released. The exact date in the month is unknown. This means that the highly anticipated platform will be live and kicking very soon. Developers will have a new option for developing decentralized apps.

What will then happen is a full token migration of EOS to the new platform. This will in turn make EOS a coin.

History has proven that whenever there is an anticipated coin migration, the price of a token does considerable gains in the markets. Perhaps this is what is happening to both EOS and Tron (TRX) as both projects have their Mainnet versions slated for release in June and May respectively.

On thing is for sure, the constant market performance by EOS might just be the beginning of something extraordinary.