Saturday, May 25, 2024

EOS Philippines marks entry into blockchain market

LR Data Center and Solutions, a tech company with experience serving regulated online gaming communities in Asia, has announced the launch of EOS Philippines, which is poised to be the first EOS block producer in the country.

The new tech firm aims to support the EOS global network and infrastructure, which is one of the top five digital tokens in the world.

EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing the necessary core functionality, enabling businesses to build blockchain applications in a manner similar to that of Web-based applications.

Some of the developments EOS has made include designing their system to process a high number of transactions per second, fee-less transfer and remittance transactions, decentralized block production ? utilizing proof of stake instead of proof of work, and adopting a more democratic and community-based governance.

?With the launch of EOS Philippines, LR Data is at the forefront of infrastructure provisioning and supporting decentralization and democratization. Financial technology and blockchain is going to be a pillar of our business model moving forward,? Enrique Y. Gonzalez, vice-chairman of LR Data Center Solutions Inc. said.

For Javier L. Benitez, community head of EOS PH, the launch underscores the importance of embracing innovation. ?The next wave of disruptive applications may be by utilizing EOS technology. We have made strategic plans of positioning the Philippines to fully benefit from this,? he said.

EOS Philippines leverages LR Data’s expertise in managed IT services, international internet protocol communications, bandwidth and traffic management, DDOS detection and mitigation, server hosting and equipment co-location, disaster recovery of management systems, as well as all of the finance and back office systems necessary to support these activities. It provides data center facilities using its own fiber connections to multiple landing stations, and owns capacity on seven submarine cables.

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