The Independence Day Press Conference of Yocoin held recently in Dubai was a memorable one for the company as Sun Banerjee the mastermind behind Yocoin was delighted to inform the public of Yocoins migration and independence from Ethereum.
The conference which was concluded not too long ago had the CEO reeling out the significant achievements of the company since its inception which includes:
The commencement of virtual machines in beta, starting of the mainnet Odyssey 2.0, as well as the making of the Genesis block which is automatically the key to its independence from Ethereum.
“Yocoin has completed the token migration from ERC20 to mainnet. The community consensus initiated the YOCOIN network and generated the Genesis block, which signifies YOCOIN’s official independence. YOCOIN is now one of the most competitive major public chains in the world,” Inventor of Yocoin, Banjeree Stated.
He further added that “We launched our first version of the virtual machine on the May 25th, which is fully compatible with Ethereum’s virtual machine environment. Developers can use Solidity to develop, debug, and compile in a familiar Remix environment without having to learn a new coding language.
On July 31st we will launch the official version of TVM, which will allow developers to use the Yocoin virtual machine to develop decentralized apps that are significantly better than Ethereum and unlock a powerful decentralized ecosystem” stating his thought about virtual machines.
The conference was held to enlighten the public about the Genesis Block Creation and the Token migration.
All tokens under ERC20 will be moved to YOCOIN mainnet, this is very important due to the many obstacles that Ethereum has, ranging from the low TPS which is a limitation to dApps on the network as well as the high gas fee it charges.
Included in the setbacks Ethereum has to offer is the PoW it makes use of which is a great disadvantage and almost impossible for an average user to carry out transactions at a minimal rate.
It will interest you to know that YOCOIN utilizes a DPOS consensus mechanism which makes it very fast and it also has a very tight security system thanks to its bandwidth model. This makes it standout out from Ethereum and other public ledgers.
Still basking in the event of their new independence Sun Banerjee, founder of Yocoin mentioned the implication of this great feat:
“YOCOIN’s independence paves the way for a community governance mechanism that is based on democratic election. It will bring the notion of ‘popular sovereignty and natural rights of the token’ to life and provide support for all developers within the YOCOIN’s ecosystem. This is how we will realize YOCOIN’s vision of a truly decentralized internet.”
The above will be achieved by a group of Super Representative (SR), and the election of SR for YOCOIN took place on the 26th of last month.
This singular action alone moved them in the circus of communities that can comfortably govern itself.
This move of migration by YOCOIN has been welcomed and applauded by Livecoin.net, and other mainstream exchanges and the migration of token can be done by users at any point in time.
Indeed the journey for Yocoin has been a long but fulfilling one as the organization is not relenting in its effort to become one of the world’s leading company when it comes to blockchain business.