Preface
Hello Steemian.
From Today I introduce about EOS blockchain technology compare to Ethereum Blockchain Tech base on the my survey. So, If you have any false infomation about EOS, Please let me know details.
I hope that this posting will be enhanced your basic knowledge for understanding about EOS . If you acquired precious information about blockchain technology,I believe you make an proper decision to invest your money and build up your new business related to blockchain technology in the future.
I will disclose my opinions and information about EOS across 4~5 times. If you have some benefits from my psoting, please vote and resteem or comments without hesitance.
Table of Content
Whаt Iѕ EOS? (Today Topics)
Ethеrеum vеrѕuѕ EOS
Gеtting Stаrtеd with EOS
How Tо Gеt An EOS Wаllеt?
EOS Rеѕоurсеѕ
Hоw tо Buу EOS?
Hоw Tо Eаrn EOS?
Whеrе tо Sреnd EOS?
Whаt Iѕ EOS Mining?
Lаtеѕt EOS Nеwѕ
Conclusion
Whаt Iѕ EOS?
EOS is a blockchain technology basically like Ethereum which has been brought to life by Dan Larrimer. He is also the creator of Steem and Bitshares. On June 26, 2017 the project starts its ICO.
Features
- Parallel Processing
The ability to do things in parallel, faster transaction speeds and more scalability.
- A constitution
A set of rules on which everyone agrees upon, these are linked to every block minded.
- Self sufficiency and Evolution
The current model allows for a 5% inflation; this will be used to develop the network further.
- Decentralized operating system
EOS is similar to a decentralized operating system; in practice this means that developers can build applications on EOS. Owning EOS coins is a claim on server resources. A developer needs to have EOS coins to use the EOS blokchain. Developers will not spend the coins to use the server resources, S/he just need to prove they hold them.
This operating system will be hosted on servers(data centres) which in return will also be block producers. Block rewards in EOS are the incentive for these servers to host EOS applications.
The applications running on this decentralized OS will be able to communicate with each other, there will also be measures to "Firewall" applications.
Applications use very common functions such as user/password ,use interfaces, backend(database)management. This means that applications can share frameworks or libraries which make development faster, more secure and less technical. For example, applications will have their own secure database and file space on EOS.
EOS will allow developers to create blockchain applications with which end uesers will easily interact with. Probably most users would not even know that they will interact with one when using EOS as this will be completely transparent to the users.
Ethereum does a very poor job of making interacting with their blockchain a user-friendly process.
EOS main competitor Ethereum, demands users to pay for every transaction. EOS will not do so. This will increase adoption. ERC20 like tokens can be created on EOS, this means that ICOS can be hosted on this blockchain.
The ICO is one year long this should increase distribution, which should increase adoption.
200,000,000 two hundred million-distributed during a 5 day period beginning on June 26, 2017 at 13:00 UTC and ending on July 1, 2017 at 12:59:59 UTC. Now is over.
700,000,000 seven hundred million-split evenly into 350 consecutive 23 hour periods of 2,000,000 EOS tokens each beginning on July 1, 2017 at 13:00:00 UTC. 100,000,000 one hundred million-will be reserved for block.one and can not be traded or transferred on the Ethereum network.
Chanllenges
The current ICO market is very agitated. To me, It feels a bit like a mania at this time.
Ethereum has the first mover advantage in the smart contract space. a lot of systems have been built on Ethereum and it has proven itself to be a commercial grade blockchain. It is not impossible for Ethereum to adopt the same model. It is already planning to change from POW to a POS.
There are other competitors besides Ethereum. For instance, Rchain, Rootstock/RSK, and Crown have not yet released their smart contract/decentralized platform suite but once they do it could be cheaper and easier for developers to use these new platforms.
There are other blockchains with smart contract capability such as Bitshares and Graphene currently. These have limited smart contract capabilities at this time but they could adapt their system to a similar model in the future.
Smart Contracts will be readable code rather than binaries. This would make maintaining proprietary smart contract tech confidential difficult. I am doing further research on this point.
Dan Larrimer has a history of moving on to next thing, he did so with steem and Bitshares. This is not necessarily a bad thing, but if the timing is not right the project could suffer.
There is no cap on the amount of money being funded in this ICO. How will the excess funds be managed? Could this lead to hyper valuation? What happens once the tokens can be moved? Would short-term investors try to make a quick buck, sell and cause the prices to crach?
I think EOS is superior blockchain tech compare to others. I look forward to evaluate one during the hard time in the cryptocurrncy market this year caused by regulations in the world. Next time I will talk about Ethereum versus EOS blockchain. Thank you so much for patient reading.