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In my last write up explaining and simplifying EOS I covered the advantages in regards to the development of DApps.
The advantages and current difficulties EOS will overcome are as follows:
Scalability. I.e. The processing of large volumes of transactions with speed from a commercial standpoint.
Zero cost for transactions (gas) or use of the EOS platform.
EOS supporting developers at a platform level through user friendliness.
Before elaborating on the developer aspect of things it’s important to break down the importance of speed. Also known as transactions per second or TPS. We also need to look at block generation and confirmation time on a transaction. A good way to conceptualize this is two employees at a company. The first employee is handed a series of transactions within a certain period which he processes. There is only so much that employee can handle at any given moment so if he is handed to many at once he will become overwhelmed and the transactions validation will eventually slow down. But once he has received and logged the transactions he passes him down to the next employee. The next employee having a collected packet of processed transaction handed to him by the first employee then authorizes and time stamps these transactions. This time stamping and confirming by the second employee represents block generation and confirmation of transactions.
The speed of any block chain interaction can be dependent on a number of factors. Software, network performance, design of the block chain, size of the transaction, all play a role. For instance, smart contract transactions on Ethereum take longer to process due to the requirement of additional computation power. All block chains have two facets in regards to TPS. There is maximum TPS and the current TPS. Think of maximum TPS as a full throttle or sprinting speed and current TPS as to the actual speed. A good way to determine transaction speeds on the block chain is to look at current transaction speed and block creation. However, TPS does not always reflect speed of transactions. You can have a block chain processing a low volume of transactions per second and still have slow transactions as well. We’ve seen this with other crypto currencies when sending small amounts and the transactions taking hours to process. An issue that EOS will not have.
Understanding speed on the block chain is important when trying to understand EOS as well as other block chain technologies. In my next write up on EOS explained I will elaborate more and this and its relation to the developer’s side of things. Thank you guys so much for taking time to give my humble series of write ups a read. As always looking forward to your great content.
