EAGLE PROJECT IS AN INDEPENDENT BLOCKCHAIN PLATFORM
EAGLE PROJECT IS AN INDEPENDENT BLOCKCHAIN PLATFORM
The idea is simple: tokenizing the world and letting the Blockchain technology in everyday life. There are some technical aspects that slow down the development and integrating crypto ideas into the real world. These are difficult scalability, relatively low transactions speed and high fees. Eagle Project strives to solve these issues,
Yes and no. Firstly, the common name “Blockchain” for crypto platforms went farther beyond the term and more often strives to obtain fashionable additions 2.0, 3.0 and even 4.0. These figures reflect functional capabilities of this or that network.
1.0 is just a payment system, 2.0 — payments + smart contracts, 3.0 — payments, smart contracts and tokenizing values, etc. However, all of them still have the same issues of scalability, speed and fees. Every project longs to minimize these limitations in its own way, and Eagle project also has its own vision on it, and to be more exact — its own rules for the network’s functioning, its algorithm of consensus, its opportunities for startups that decide to choose Eagle Project as the base.
Interim summary: Eagle Project is an independent blockchain platform with its own consensus algorithm and it includes an available payment service, possibility for issuing smart contracts and creating dApps.
IRONGEEKCHAIN IS AN INDEPENDENT BLOCKCHAIN AND PAYMENT SERVICE
IronGeekChain is worked out by the Eagle Project team. The blockchain is based on the nodes IronGeekNodes which are represented by the token holders of the platform — EagleX (EGX) tokens. IronGeekNodes are devided into prime nodes (masternodes) and nodes of common users of the network — EGX wallets. Prime nodes must be online all the time and comply with the requirements of the network.
To validate a transaction IronGeekChain uses a consensus mechanism that is called Iron dBFT. To process a transaction successfully, it should be confirmed by no less than 80% of re representative nodes of the network. That said, 50% of the total number of the nodes necessary for confirming a transaction are user wallets that are chosen randomly. Generating a block in IronGeekChain needs 15-25 seconds. 1000 transactions can be validated per second.
This blockchain possesses a wide range of functions that can be compared to other well known platforms. The sides can create smart contracts and/or digital assets and tokenize fiat money as well!
IronGeekChain has two tokens of its own:
1. EagleX (EGX) is the main token in the system that allows to perform free transactions, which makes EagleX an ideal digital asset for remittance. The total amount is 72 million tokens, all of EagleX are pre-mined.
2. Benz (BENZ) is a service token that is created to ensure IronGeekChain functioning, in particular — to ensure processing transactions and smart contracts. One can obtain Benz if they have EagleX. An EagleX holder just needs to hold the tokens in his wallet, moreover, he doesn’t need to connect to the main network (i.e. cold staking). The maximum reserve of BENZ is 144 mln tokens. BENZ is NOT pre-mined.
So far, IronGeekChain is worked out with the following range of functions and technical solutions support (the list is to grow):
— multi-types of digital assets support and payment system;
— smart contracts;
— decentralized apps (dApps).
Let us show you that it’s not only common words. We’ll see all the examples connected to IronGeekChain.
A digital asset is everything that exists in the digital format and may be used right.
A digital asset in IronGeekChain is a type of smart contracts that provides the holders with a controllable and safe digitized asset. A token of fiat money provided by an organization is an example of a digital asset. The holders of such an asset have the right to exchange it for a certain sum of money.
The advantages of using the system of Eagle Project for fiat money eminents and payment corporations:
— emitents don’t need to create their own payment system and control it. The system EagleX is reliable and safe;
— faster transactions, even with other emitents;
— online transactions safety;
— privacy: users don’t need to provide their personal information to sellers;
— low fees for any transactions;
— autonomous clearing process.
The concept of the Eagle Project is to create a payment system of a new generation, make it available to a wide circle of users, user-friendly, having low fees and complying with the legal rules of all the countries. The key element of keeping order is maintaining fiat money usage for all goods that are bought with the help of the system of the Eagle Project.
IronGeekChain supports the possibility of creating smart contracts in several programming languages. The developer of a smart contract can use a comfortable for him language, either it is C#, Java or Python.
What are the advantages of smart contracts on the platform IronGeekChain?
1. Smart contract developers don’t need to learn a new programming language since they can use any popular language that they know: C#, Java or Python;
2. Smart contract developers can automatically create airdrop campaigns for the EGX wallet holders — it’s simple, cheap and effective marketing.
Decentralized applications (DApps)
A decentralized application — DApp — is an application that can operate without any intermediary or trusted party to control the user information and transactions. Apps can be worked out by third-party independent developers who are not part of the EagleX team. From the perspective of functionality, the following apps can be worked out on the Eagle Project platform:
— decentralized crypto exchanges;
— decentralized exchange offices for crypto;
— decentralized trading platforms;
— decentralized ticket services;
— decentralized AI services;
— many other dApps.
The best solutions and startups will be supported by the platform and provided with EGX and BENZ tokens for free.
TECHNICAL AND FUNCTIONAL INDICATORS OF THE EAGLE PROJECT PLATFORM
Let’s compare the platform with the current leaders of the market — Bitcoin and Ethereum.
This table reflects a range of very important moments: currently, the Eagle Project platform can process faster transactions at far lower costs for common users, it also can be easily and effectively scaled, is more friendly to startups who are interested in building their products on the base of ready blockchain platforms.
The project is oriented on solving key problems of the blockchain industry and has high potential to integration into the real sector.
Official site — http://eaglepay.io
We thank The Blockchain Journal (thebcj.ru) for support