Generally, dApps utilize smart contracts to power themselves. However, EOS uses dApp transactions which are more efficient than smart contracts.
EOS is all about decentralization
Crypto markets may look a little flat after last week. But that’s not the case for the logistics and supply-chain network, VeChain Thor (VET), whose token price has surged following a mainnet upgrade that will allow users to delegate their transaction fees. The latest movement follows a sharp drop in VeChain’s market capitalization, which fell to $270M last Wednesday. It pulled back above the $300M threshold by Thursday afternoon and reached $336M by the start of the week. The total value of the VeChain network surged by $10M over the course of the day. Token prices reached $0.006 each, giving VET a market cap of approximately $347.4M at the time of writing. Source: CoinMarketCap VeChain is a Blockchain-as-a-Service (BaaS) platform, designed specifically for the logistics and supply-chain industry. Based in Singapore, the project plans to replace the legacy system with a distributed ledger, complete with a smart contract layer, to address many of the industry’s existing pain points. But the project had a volatile spring, with the market cap climbing to $520M in June before last week’s drop. Within the ecosystem, users can stake VET tokens to receive payouts in VeChain Thor (VTHO) tokens, which are used to pay transaction fees. Today’s upgrade – known as VIP 191 – is designed to make the core blockchain a little morefriendly to third-party developers as well as end-users. It allows users to send tokens without incurring VTHO transaction fees. Instead, the sender can delegate transaction fees to the applications they’re using. VIP191 was proposed in mid-May by Totient, an activist crypto hedge fund. Dubbed “The Key To Mass Adoption” in the initial documentation, Totient described their proposal as an “innovative feature allows anyone to use a decentralized application regardless of their knowledge of blockchain technology by removing the toughest barriers for adoption. By bypassing the complicated process of purchasing VTHO tokens, the upgrade can help streamline the user experience, making VeChain more competitive. The upgrade also allows dApp creators to adopt new pricing models, such as fiat-denominated subscriptions. Mass-adoption still evades multiple cryptocurrency projects. The new upgrade may take some of the complexities out of blockchain and could go a long way towards making VeChain usable on a daily basis. The post VeChain Price Surges With Mainnet Upgrade appeared first on Crypto Briefing.
With over 2300 cryptocurrencies already in the industry, it is rather interesting that only a handful of them are widely known, according to CoinmarketCap.com. In fact, only the top 10 of them amass much of the attention offered to digital assets, with the rest barely known. But outside the highly ranked coins, Dash is a […]
Bitcoin is increasingly being viewed as a store of value, even US politicians are now accepting this notion as investors grow increasingly wary of fiat and its propensity for devaluation. One of the biggest fears is a repeat of the global financial crisis which wiped billions off stock markets and plunged economies into turmoil. Seven Financial Crisis Triggers The next one could be closer than we think and there are a number of trigger events that may set the avalanche in motion which would lead to a massive reallocation of assets in our financial system. Fund manager behind Bitcoin Capital, Simon Dixon, highlighted some of the events that could trigger the next economic collapse. Government debt is out of control in most major global economies which have been using financial markets to borrow excessive amounts of money. The debt is so large now that governments cannot meet their financial liabilities and it has gone into a negative return. There is an ever-increasing debt ceiling in the US as the debts spiral out of control which could trigger another meltdown. A second trigger event could be the stock market which propped up by debt rather than natural consumption. The central bank also injects money into the markets by lending at artificially low rates through schemes such as quantitative easing. With billions entering the economy, some of the larger companies can have excessive profits which enable them to have stock buyback schemes. These could eventually turn investors off the stock and bond markets. A global movement towards discouraging savings has resulted in negative interest rates in many countries. Fractional reserve banking, whereby a bank does not need a deposit to issue a loan, also contributes to excessive debts as does the lack of saving deposits which now costs money under negative rates. Insolvent pension schemes whereby governments do not have enough to meet their obligations could also become a trigger event. Traditionally pension plans have invested in lower-risk asset classes such as bonds but with higher yield sought they will be going into higher risk classes such as stock markets which are artificially propped up by debt. Over-dependence on student loans whereby students were sold the promise that once qualified, a better job would enable them to pay off the debt, has resulted in too many with degrees and masters still deep in a growing debt cycle. Banks also encourage the debt cycle by offering low-interest loans which exacerbates the entire debt crisis. Credit card debt is also on the rise and a lot of people are reallocating loans and mortgages through lower repayment credit card systems with little intention to pay it all off. This could lead to another trigger or systemic risk event in a credit card crisis. An over-dependence on real estate markets could also spark off an economic crisis. Banks, which can print money, rely on lower-risk assets such as property to issue mortgages. Banks were encouraging people with lower credit ratings to take on loans (subprime mortgages) in order to ‘own’ their own property, which also created artificial prices and a false sense of security from those taking the mortgages. Bitcoin Adoption Will Increase Anyone of these trigger events could cause a meltdown in the current financial system which would lead to massive wealth distribution. Bitcoin has a lot going for it with these factors in mind. With its finite supply, approaching halving event, mathematical integrity, immunity from the political and banking systems, and a growing mainstream and institutional interest, BTC could be the place to go when the financial walls tumble down again. Would you invest in bitcoin to survive the next crisis? Add your comments below. Image via Shutterstock The post 7 Financial Crisis Triggers That Will Boost Bitcoin Adoption appeared first on Bitcoinist.com.