EOS Network Enhances Its Stablecoins Ecosystem via Partnership with EOS Stable Coin Chain (ESCC)
The post EOS Network Enhances Its Stablecoins Ecosystem via Partnership with EOS Stable Coin Chain (ESCC) appeared on BitcoinEthereumNews.com.
ESCC will introduce stablecoin-based gas fees and Ethereum compatibility on EOS. EOS Labs and EOS Network Foundation (ENF), the main stewards of the EOS Network have announced a strategic collaboration with EOS Stable Coin Chain (ESCC), an Ethereum-based stablecoin solutions provider. ESCC is a novel smart contract on the EOS Network using a customized implementation of the EOS EVM architecture. According to the partnership details reaching our desks, the three companies aim to integrate an optimized platform for high-speed compliant stablecoin transactions. Together, they aim to provide EOS users with a specialized and efficient solution to handle stablecoin transactions, making them faster, more cost-effective and regulatory compliant. According to Hiroaki Yamasaki, CEO at ESCC, the solution is expected to bring significant developments to the EOS stablecoin ecosystem. “Collaborating with EOS Labs and the ENF is a significant milestone for ESCC,” he said. “By being the first blockchain architecture of its kind to use stablecoins as gas fees, we are offering a unique experience to our users, distinct from any other blockchain platform. This innovation is set to transform user interactions within the blockchain space, providing a blend of stability, efficiency, and user-centric design.” By integrating its solutions on EOS, ESCC aims to solve three major issues across the blockchain. First, the solution will enhance the transaction efficiency for stablecoins on EOS. Secondly, the solution will introduce innovations for financial transactions on the blockchain. Finally, the partnership will introduce customizable blockchain solutions and enhance seamless EOS and Ethereum ecosystem compatibility. Enhancing Stablecoin Transaction Efficiency The integration of ESCC into the EOS ecosystem aims to revolutionize the stablecoin transactions on the blockchain. ESCC leverages the high performance of EOS EVM technology to provide faster speeds of less than 1-second block intervals, low gas fees of less than $0.005, and a high throughput,…
Filed under: News - @ December 15, 2023 2:08 am