HONG KONG, Nov. 28, 2019 /PRNewswire/ -- After intense development and testing, Ethereum Express (EEX), a community-driven decentralized ecosystem, has revealed the details of its two pilot projects that are acting as the first clients testing the EEX solutions. The platform founders have reported that under these pilot projects they managed to achieve 1,000 transactions per block and a network capacity of 200 transactions per second (TPS), compared to the Ethereum's network capacity of 15 TPS.
The first project is Mining Express, a mining company that was in need of a viable and technologically advanced solution for facilitating interaction with end-users. Mining Express is the fifth-largest mining company in the world, which is driving the growth of its partner network and is constantly increasing its mining capacities by investing a large part of its revenues in the expansion and upgrade of its mining complement. Mining Express has working relations with EEX and has provided its systems for testing of EEX's hypotheses on the operational capacities of blockchain.
The second project is a gambling company aiming to make the process of online entertainment more transparent and understandable for its users. Given the increasing volume of gambling-related transactions on blockchains, the need for better throughput is becoming a pressing matter.
The results of the testing were used to finalize and improve EEX's final product to allow average users to generate income without the need for maintaining expensive mining equipment and increase transparency in online gambling.
Ethereum Express is currently in the process of launching a real-life application scenario of its internal ecosystem coin. The coin is used for facilitating connections between the worlds of gaming and mining and is designed to create a backup global cryptocurrency for different business operations. The use of the coin within the framework of the two pilot projects will allow EEX to finalize and test the business hypotheses of its ecosystem in a complex, real-life business environment.
Preliminary analysis of the undertaking has proven that over 48,000 users from the US, Japan, Ukraine, Brazil, and other countries will be involved in both pilot projects. The total cost of the projects exceeds $500 million.
"The launch of these two pilot projects with our first clients is an important step for the development of not only the EEX project and its coin, but also for the blockchain environment as a whole. The introduction of improvements to the Ethereum blockchain's network is a vital undertaking that has to be crowned with success if this promising market is to grow and scale in accordance with the demands of real businesses, not just separate users," as stated by Vlad Miller, CEO of Ethereum Express.
Upon the successful completion of the experiments, the EEX team plans to expand to other industry sectors by signing agreements with different companies of various scales.
SOURCE Ethereum Express