- ESCC achieves rapid processing with 1-second block intervals
- Transaction costs are low at approximately 0.005 USD per transaction
- The system can handle over 950 swaps per second
EOS Labs and EOS Network Foundation (ENF), stewards of the EOS Network, are proud to announce a strategic partnership with the EOS Stable Coin Chain (ESCC), a groundbreaking Ethereum-based blockchain deployed as a smart contract on the EOS Network using a customized implementation of the EOS EVM architecture.
Enhanced Transaction Efficiency for Stablecoins
The integration of ESCC into the EOS ecosystem is poised to revolutionize the stablecoin transaction landscape. Leveraging the high-performance capabilities of EOS EVM technology, this collaboration is expected to deliver unprecedented transaction efficiency. Key performance metrics underscore this advancement:
Lightning Speed
ESCC achieves rapid processing with 1-second block intervals, drastically reducing transaction times.
Low Gas Fees
Transaction costs are remarkably low at approximately 0.005 USD per transaction, making stablecoin transactions more accessible and cost-effective.
High Throughput
The system can handle over 950 swaps per second, demonstrating a remarkable capacity for high-volume transaction processing compared to other technologies.
Hiroaki Yamasaki, CEO at ESCC commented:
Collaborating with EOS Labs and the ENF is a significant milestone for ESCC. 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.
Huaqiang Wen, Founder and CEO of EOS Labs added:
ESCC serves as a prime illustration of how EOS EVM is extending its reach into enterprise-level ecosystem applications, highlighting the strengths of its technical design. This advancement is pivotal in facilitating the roll-out and execution of more enterprise-oriented applications within the EOS ecosystem.
Innovation in Financial Transactions
A key innovation lies in ESCC's novel approach of utilizing stablecoins for gas fees. This technical advancement is made possible by the seamless integration of EOS EVM, which allows the system to process transactions in a manner that's both familiar to Ethereum developers and optimized for the user experience. By using stablecoins for transaction costs, ESCC drastically enhances cost predictability and mitigates the traditional volatility associated with cryptocurrency-based gas fees.
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