During the 4th annual DC Blockchain Summit 2019 earlier this month, Block.one CEO, Brendan Blumer commented about his aspects on Bitcoin. Basically, Block.one is a Cayman Islands-registered firm who developed EOS, which is one of the largest platforms for building and deploying decentralized applications (dApps).
As per the CryptoSlate reports, Brendan Blumer says the first and largest cryptocurrency, Bitcoin is “Fundamentally Transformative”. Usually, this is when it comes to reforming the traditional financial transactions along with the existing limitations.
Adding to which he also considers Bitcoin as expensive, if annual inflation from block rewards is considered. As per his estimation, it would be $50-$100 per transaction. Also, according to the sources, Block.one CEO calls the 3 transactions per second limitation of Bitcoin Network as huge scaling limitations.
Recently, Blumer’s blockchain, EOS achieved a new milestone, setting a new record for the number of “actions” processed in one day. Eventually, the network handled 80 million in the 24h period successfully, which averages at over 800 per second.