The blockchain for EOS is designed in such a way that it will provide a robust platform for large scaled businesses, on the other side few coins have been more fairer, aiming at Independent users that build small applications and platforms. It will be much interesting to see how this completion between them works out. If users are going to build some decentralized applications, then what are the options do they have in current situation?
- RChain, RSK, have not yet been released in the market and not production ready.
- BitShares & Graphene have very good bandwidth, but limited smart contracting capabilities at this point.
- The repository of Polkadot has not been updated in last 6 months.
- Waves, NXT, Tezos, Tauchain, Lisk, they are not competitors…
It seems that you are left only with Ethereum which has a very bad throughput and high transaction costs.
Why not try to combine the scalability of Graphene and the power of Ethereum’s smart contracts together? Etherum will migrate from Proof-of-work to Proof-of-stake (scheduled at the end of 2017/beginning of 2018) so we have some time to build a new competitor.
3 months ago Dan Larrimer resigned from Steemit in order to (obviously) develop/promote his new tool.
The Technology behind EOS
There’s nothing much technical details available currently about EOS. But it is not all about smart contracts and high scalability. It has lot more to offer ranging from design to vision when we compared to Ethereum blockchain. It uses concept called Delegated “Proof-of-Stake” just like Graphene does.
EOS uses Bandwidth Allocation from the systems to effectively share to the blockchain.
It’s like sharing time. It is like possessing an instance on an AmazonWebService (AWS) that people can share to the network. In EOS the human readable source code is directly uploaded to the blockchain. On the other hand Ethereum uploads binary data to the blockchain.
If there is an error in application — then community based developers can hold it and after fixing it they will deploy.
EOS is built like a group of developers or scripts (in some cases bots) that are swapping messages between each other. EOS could be understand as an email system where each and every user/bot has an account and the account also known as the “Application/Programme” is a secure JSON database which can be easily accessible by any blockchain explorers around the world.
All the communications between applications will self describing interfaces by themselves, and declarative permission scheme. It means that when people have to brief what messages their app wants to receive from and what it will send (if requires). Like eMail, the recipient and any accounts that are copied on the message they have the ability to cancel the message in that case the message will not be delivered to respective users.
EOS is developed to support communication not only with internal users but also with external customers. So EOS makes it possible to connect other blockchains to interact with them.
I like EOS concept, but there is very limited information available out there as we all know its new to the market.
EOS logo looks like a geometric structure that forms a shape closely relates to heart! Finally I would like to conclude, the altcoins has been quite ups and downs but majority of them are towards negative index. It is not the most ideal situation as I feel. But I think the reputation of the principals will sustain a successful ICO's.
