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RE: A Smart Contract Platform Without Transaction Costs or the Need For 'gas' Will Finally Offer Proper Incentive To DApp Developers. An 'Ownership' Model Will Always Be More Efficient Than A 'Rental' Model In Terms Of Entitlement From Stake.
But that just means the entry cost for new players is even higher, doesn't it?
I mean 3 years in when EOS is somewhat established it's gonna be hard/expensive to get enough stake to get any kind of computation time/bandwith at all, doesn't it? How is that addressed?
I don't think it will. because if we consider that the computational efficiency and power will continue to increase at a rate fast than that of the token price of EOS.
For instance lets say initially there are 100 'units' of storage and bandwisth on the network total, and a 1% stake in the platform costs $1000. In 6 months let's assume that a 1% stake would cost $3000. While it would cost more to purchase the same stake, it is extremely likely that the total 'units' of stargae and bandwidth have also increased drastically, let's say there are now 400 'units'. Having access to 1 'unit' of bandwidth would actually be cheaper now, even though the total stake in the platform would be less. As the price of a coin rises witnesses have more capital and incentive to invest in better and more efficient hardware, and rise in computational power often exceeds the rise in price in the long term.
Fair point.
I didn't read much about EOS to be honest but how does it scale?
Because in existing blockchains it doesn't seem like more hardware equals more storage/bandwith as they all do the same/store the same e.g. every node has the full history so adding more nodes will make the network more stable but not necessarily add more bandwidth to the network. Similarly to the problems bitcoin experiences currently.
But maybe EOS has a smart way to address that?