Ethereum Tokens can be transported to the EOS platform through a Snap Shot. This is highly innovative and much needed.
Here's what we know so far.
• All Ethereum based decentralized applications that are struggling due to slow downs and high costs via Gas, will no longer have to suffer. They can be easily migrated to EOS. Why is this important? EOS is not only faster, it's free and offers unlimited scalability. EOS also works a lot different versus Ethereum.
• EOS is a consensus Blockchain Operating System, first of its kind, that provides databases, account permissions, authentication, scheduling, and internet-application communication to massively improve the efficiency of smart business development that uses parallelization to make possible blockchain scalability to millions of users and millions of transactions per second i.e.: Summed up Based on a Dan Larimer presentation(s)…
Ethereum has approx.: 1,000 Dapps running. Each and every time anybody wants to interact with Dapps it suffers a cost of ETH Gas. This gets very expensive and adds up over time.
• Based on some of Dan Larimer's various comments via online interviews, there may be many Decentralized Applications abandoning Ethereum, for obvious reasons, in favor of EOS. I look at this as a positive, I don’t know why they would want to remain on a very slow, expensive and un-scalable ETH platform. But it doesn't stop there, even if one day Ethereum solves some or most of its scalability issues, it's still very costly in Gas each and every time Dapps are interacted upon.
This EOS Relay Code can potentially be a huge game changer, not just for EOS, but for the entire Blockchain Industry. Here's why.
• What does this EOS Relay Code do in more details? It allows any Decentralized Applications to Snap Shot there ERC20 Tokens over to the EOS platform seamlessly. This is big news because this will be open source and it will allow ANY Dapps to move off Ethereum and come on board EOS at no cost to the Dapps.
• Even better, all investors in these Ethereum Dapps will also move over to the EOS platform. They will lose nothing and only gain by automatically being part of the EOS Platform and Community.
Dan Larimer is a genius and a visionary. This we know as fact, but this Relay Code is a very disruptive technology that could have huge implications that is very negative for Ethereum and very positive for EOS.
Obviously, take anything with an organic grain of salt. Seeing is believing. And monitoring EOS's progress for the past several months, I see this Relay Code being the real deal. Let's say you?
NOTE: This isn't financial advice by any means, just my personal opinion with some internet research.
