COFFE That Is Not To Drink

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Artem Romanuk   Contributor

COFFE That Is Not To Drink

Until 2020, there were many releases of technology companies in the field of blockchain and cryptocurrencies. They surprised us not only by their technological features, but also by their bright names.

The COFFE blockchain is no exception. Its name alone associates comfort, coziness and a pleasant aroma of a wonderful drink. But this blockchain is not related to a fine drink – they are similar only by name.

COFFE is the world's first multi chain developed on the basis of EOS, which is a full-fledged independent network with its own consensus.

Is it just another ordinary fork of EOS?

Media resources are full of announcements of new projects based on the technological highlight of EOS, but they are an exact copy of EOS blockchain. Do not forget that, contrary to the beliefs of many supporters of EOS blockchain, it is not perfect and has significant disadvantages.

1. Centralization. The EOS network controls 21 producers of blocks. The community accuses the project of collusion and total control. Of course, the idea of decentralization, which is the basis of blockchain technology, has a lot of followers and this fact is perceived very ambiguously.

2. Financial risks. The main problem of the companies working with EOS is the inability to calculate the cost of maintaining the business infrastructure in advance, since the cost of resources in the network changes constantly, which greatly undermines the stability of the business.

The COFFE blockchain solves these problems. In 2021, it is planned to launch its own consensus based on a decentralized random, it in turn will allow the blockchain to be transparent and fully open to the community. The system is also programmed in such a way that the commission in the system is paid by the end user – so there is no need for additional resources to make transactions.

I especially want to highlight the infrastructure of atomic swaps with other blockchains. Currently, these are Bitcoin, Ethereum, EOS, Tron, Binance chain. The swap mechanism allows you to use tokens from one blockchain in another. Unlike the transactions in original blockchains, the token transfer in the COFFE network takes 0.5 seconds, which allows you to use the COFFE infrastructure for a variety of applications. For more information, please visit the official website coffe.io.

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Artem Romanuk   Contributor