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Google Trends sees pro-Blockchain enthusiasts even as research shows EOS is cloud

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is EOS is only a glorified Cloud service? Report by Google reveals that there are more netizens interested in the all-important ‘blockchain’ technology.

There has been a mini-storm brewing in cryptocurrency circles with researchers at Whiteblock a benchmarking firm reporting that EOS is only a glorified Cloud service and not a ‘true-blue’ blockchain technology since it lacks the most vital characteristic of a decentralized blockchain platform ‘immutability.’  At the same time, a fresh report by Google on its Trends feature reveals that there are more netizens interested in the all-important ‘blockchain’ technology lately, with the search for the latter technology overwhelming earlier searches for ‘cryptocurrency.’ Thus, a standardization seems to be in the offing as more projects begin to cater to demand by users.

The original research to look into the working of EOS platform and its technology was commissioned by cryptocurrency incubator and mentor, ConsenSys.

 

What does the test report by whiteblock say?

Whiteblock which tested EOS by developing a prototype found out that,

“EOS is fundamentally the same as a centralized cloud computing architecture [client/server] without the fundamental components of a blockchain or peer-to-peer network.”

 

According to the group of testing engineers, the experimentation provided an objective model of EOS design and addressed the economics and performance.

ConsenSys had appointed Whiteblock to research EOS back in September, and the latter has been testing EOS for over two months.

The highlight of the report is that EOS transactions were ‘cryptographically validated.’

More interestingly, the issue is with respect to EOS is that the project does not stop block producers from increasing their presence on this platform and gaining additional votes to influence decision making.

The main principle of EOS is proof-of-stake overriding the industry practice of Proof-of-work to establish ownership.

More importantly, Whiteblock found that in optimized settings the speed of transactions could not be higher than a 250per second, and that EOS wrongly marketed itself as offering 4,000 TPS.

Additionally, ConsenSys has said that it has received an expression of interest in further research and study focused on EOS by other industry players such as Microsoft, Ledger Capital, and University-based research commitments by USC, MIT with funds.

 

BIOT in the making

In the meanwhile Google BI via its Trends has now identified that there is an increase in searches for blockchain over that of cryptocurrencies. Industry research by the likes of Aftrek Market Research, a New York also indicates that there is a $254 billion marketplace for Blockchain Internet of Things (BIOT) by the year 2026.

 

The issue of Technical platform

Thus, as the investor and user community show increased interest in blockchain technologies, it becomes crucial for the industry to be able to categories platforms on the basis of the technology they use. Hence, the issue of EOS appears to be one of the early-stage problems which the industry will have to put into perspective so as to ensure there is uniformity in practices; much like the latest round of outcry given out by Russian regulators for a consensus-based regulatory system across the nations.

ConsenSys along with Whiteblock has announced that it would allow the tests on EOS by the benchmark organization to stream live in November. Other members like BHB network’s Zucco too concur with Whiteblock’s findings that EOS is cloud computing service with advanced computing power.

#Blockchain

Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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JPMorgan expanding itself into the blockchain and crypto space

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JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

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Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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