The community-driven Ethereum Express network has announced the launch of two pilot projects with an audience of over 48,000 users. The Proof-of-Authority algorithm based blockchain will be applied in both projects to ensure higher efficiency and transparency of operations.
The Ethereum Express blockchain has recently undergone successful testing and shown outstanding values exceeding 1,000 transactions per block with network capacity reaching over 200 transactions per second that beat the Ethereum network’s 15 TPS hands down. Over 48,000 users from the US, Japan, Brazil and Ukraine are encompassed by the pilot projects with a total net value of around $500 million.
One of the pilot projects is reportedly Mining Express, the world’s fifth largest mining company. Mining Express is seeking scaling of its mining infrastructure in light of increased customer demand as management believes that the EEX project can help increase the efficiency of its operations.
The EEX blockchain team is looking forward to the successful implementation of pilot projects, as that would allow it to highlight the technical characteristics of its solutions and attract the attention of potential business partners from other industry sectors. The endeavor will also allow the Ethereum Express to grant its community the chance of generating passive income through transaction validation on is blockchain.
The Ethereum Express network is also introducing its internal EEX coin as the main means of settlements within the infrastructure and as the main instrument of transactions between the gambling and mining industries the pilot projects are operating in. Among the potential applications for the EEX coin is the role of a global backup currency that would expand into other business environments.
The development team of the Ethereum Express project is confident in the success of its pilot projects, as success will pave the way for the adoption and popularization of EEX as a reliable blockchain partner for a variety of business sectors.