Thursday, March 4, 2021

Brendan Blumer Commends Power of Decentralization after EOS Community’s Action over Network Inflation

The co-founder and CEO of Block.one, Brendan Blumer has recently commended the power of decentralization after learning that the community has passed the proposal to reduce EOS network inflation from 5% to 1%.

Brendan made this known via his Twitter handle moments ago. In the tweet, he said this development came about overnight.

Brendan pointed out that the proposal meant to make a drastic reduction happen was proposed and passed by the EOS community overnight. He added that the power of decentralization was indeed in full display.

He wrote, “Wow! I woke up today to find that a proposal to reduce EOS network inflation from 5% to 1% had been proposed and passed by the community overnight. This speaks to the power of decentralized governance, and networks designed to operate in the best interest of their holders.”

Block.one Is Working with Coinbase to Help Developers’ Performance Issues

In another development, Block.one CEO Brendan Blumer shared in a series of tweets about the issues EOS developers are facing and the efforts B1 is putting in place to help them out.

He pointed out that EOS transaction speed and volume keep making it difficult for the transaction tracking and analyzing applications to easily track and analyze every transfer of ownership for KYC/AML purposes.

He assured that block.one is working with Coinbase and committed to creating tools to help developers with issues deterring them from performing as expected.

“EOSIO is so scalable at the blockchain level that many applications have a hard time scaling the rest of their infrastructure to keep up.

“Some applications that attempt to track and analyze every transfer of ownership for KYC/AML purposes have a hard time with the speed and volume of EOS transactions

B1 is committed to creating tools that help app developers scale all layers of their stack with EOSIO and we are working with Coinbase to help them with their performance issues,” Brendan Blumer concluded.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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