Bitcoin scalability could be solved by EOS - Brendan Blumer and Daniel Larimer think so...
Some time ago, Brendan Blumer, the CEO of Block.one, posted this picture on Twitter.
But not everything that shines is gold and Bitcoin is far away from becoming gold at this point. This is because the token holders pay on average “$27.12 per transaction before additional fees from each sender”, sustains Blumer.
“The #Bitcoin network currently costs 1800 BTC to “secure” 360,000 transactions each day, or 25 USD per transaction, before additional transaction fees.”
In other words, 1800 is the number of bitcoin paid to miners each day in order to process that 360K transactions. This is daily inflation that is going to double at each price doubling.
#Bitcoin costs are socialized amongst token holders through #BTC inflation paid to miners for processing transactions. Currently, this makes Bitcoin the most expensive option at over 10 USD/tx.— Brendan Blumer (@BrendanBlumer) March 13, 2019
Through integration, #EOS can make Bitcoin scalable, cheap, and programmable.
The Lightning Network doesn’t seem like a good scaling solution neither. Daniel Larimer sustains that
“Lightning clearly won’t get us to the future without a flux capacitor.”
But he has a solution and he came up wit some time ago when he said that:
Brendan also agrees with this vision:
“Through integration, #EOS can make Bitcoin scalable, cheap, and programmable.”
1815 new #Bitcoin are paid to miners each day to process a maximum of 260,000 tx/day (3 per sec); miners sell these #BTC today at 3886USD , which means the token holders are paying 7,053,090 USD per day or 27.12 USD per transaction - before additional fees from each sender.— Brendan Blumer (@BrendanBlumer) March 14, 2019
#EOS transactions complete in one second, allowing you to build decentralised applications with real-time responsiveness”
Who knows if Daniel Larimer isn’t the only one capable of solving Bitcoin’s problems. Surely, very soon we’ll know more about porting Bitcoin to EOS and there’ll be more surprises coming in June.
Who knows what they could…?
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