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The Vienna Blockchain startup wants to offer an alternative to Ethereum

The character string “0bs” in 0bsnetwork stands for “Zero Bullshit”. The Vienna Blockchain startup wants to offer a faster, more financially easier to plan and easier to handle alternative to Ethereum.

According to Srdjan Kupresanin, founder of the Viennese startup 0bsnetwork their slogan “Zero Bullshit” in the name is a clear reference to 95 percent of what is said in the blockchain field. The Founder left a career in finance, including at Raiffeisen Investment and adviser to the Serbian Prime Minister, to try his luck in a highly competitive field. He wants to offer an alternative to the dominating Ethereum platform with 0bsnetwork, whose Mainnet went live in February. It is an announcement many have failed with and behind them disproportionately often just the one thing, that is the word bullshit.

No smart contracts

So what makes 0bsnetwork different? Kupresanin explains, when working with their solution, the most significant difference to Ethereum is that they do not rely on smart contracts,. These would be possible on the platform, but not necessary to create an application.

The standalone blockchain, which is based on open source components of the Waves Platform, is therefore the first much easier to use. A senior developer from one of the common programming languages can be ready within an afternoon to build a simple application in 0bsnetwork. Less experienced coders may need a few days states Kupresanin. This simplicity reduces the susceptibility to errors on the other hand.

Proof of Stake concept

Even tokens that are created in 0bsnetwork do not run on smart contracts. They can be created by their customers with a few clicks. Technically, however, they are equal to the platform’s own ZBS Coin. In contrast to ERC20 tokens on the Ethereum Blockchain. Only to pay the fees in the network you need ZBS Coins. Incidentally, the proof of stake concept is used for encryption. There is no classic mining in 0bsnetwork. Not only because of this, the fees to be paid are not volatile. They are simply fixed with a Euro amount another difference to Ethereum. Customers would have a better financial predictability.

Fixed fees for customers, variable fees for end customers

A transaction over the network always costs 5 cents in ZBS Coins that flow to the Node Operator in the Proof of Stake mechanism. However, this is not necessarily the price for the end customer. Another plus for their customers is the possibility of variable fees. They determine what fees their users have to pay. For different use cases would offer different fee models. For example, if a retailer uses tokens for his loyalty program, he may want his customers to pay no fees at all. On the other hand, for example, a marketplace running on 0bsnetwork can build its entire business model based on fees and set them accordingly.

Decentralized exchange and self regulation

For these transaction intensive models, you want to provide more security with a decentralized Exchange. Their exchange only mates buy and sell orders. The coins will never come to their servers. That means they can not be stolen from them either by hackers or by themselves. And yet another measure sets 0bsnetwork in self-control.

The company use the Chainlock system of the Austrian State Printing House to keep a large part of the existing ZBS Coins safe. And, secondly, to prevent direct access by the team. Incidentally, this team includes not only blockchain expert James Hitchcock, but also crypto influencer Robert and Cryptorobby Schwertner.

Flexibility for token creation in 0bsnetwork

0bsnetwork does not only want to offer customers a lot of flexibility through the variable fees. There you can design your token very individually according to your needs. Between non fungible tokens, i.e individual, non-exchangeable coins for gaming purposes and security tokens. For example, coins that represent company shares, anything is possible. In the second one has implemented another security feature. In many countries, only officially registered investors can trade in securities. But they have implemented a corresponding filter with them.

100 transactions per second

Incidentally, these and other trades should also be faster, as it should be otherwise than with Ethereum. There are known only 20 transactions per second possible. At Mainnet there are currently 100. In the Testnet they have already tested 1000 successfully. So they can increase the number if necessary. At the same time, it would be possible to settle up to 100 transactions in one via mass transactions. Incidentally, the fees there are reduced to 2.5 cents per individual transaction included.

Also published on Medium.

Published inCryptocurrencies

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