EOS. End of May'18 overview
The developers promise to create "improved Ethereum" - a faster, more reliable and free platform for hosting smart contracts and creating a variety of decentralized applications, including social networks. Moreover, unlike most "bitcoin killers" or "new ethers", EOS developers are people who are well-known and proved that they are capable of performing the most complex tasks. However, EOS has a whole bunch of problems.
ICO began in the summer of 2017, and the declared duration of the campaign is almost a record in the industry: it will be completed only in the summer of 2018. The project quickly won the title of the most successful crowdsale: in just the first 5 days, more than 170 million USD were collected, and by the end of autumn 2017 the number of investments exceeded half a billion.
EOS creator Dan Larimer is well known in the crypto community and his reputation is very contradictory. On the one hand, he is considered a talented developer, professing non-standard approaches to the creation of cryptographic platforms. However, two of his previous projects (also quite sensational Bitshares and Steemit) Larimer threw at the beta stage.
The EOS algorithm
Perhaps, one of the most controversial decisions when creating a blockade EOS - the use of so-called delegated evidence of ownership or DPoS. This consensus algorithm was used in earlier projects of Larimer. In it, users trust the verification of transactions to several "witnesses" (witnesses).
On the one hand, such an algorithm significantly increases the speed of the platform. In Steemit, for example, transactions on average were confirmed in 3 seconds.
On the other hand, Bitshares and Steemit were controlled by a very limited number of individuals who were able to produce a coin for their own needs without any restrictions and controls.
What is EOS for?
According to the developers, EOS.IO creates a block-architecture for horizontal and vertical scaling of applications. According to their idea, the platform should resemble the traditional operating system, which, in combination with the rich tools of the platform software, will enable the efficient building of applications on its basis.
In addition, the developers said that the EOS network will be able to scale up to millions of transactions per second.
At the same time, EOS tokens have no practical application. The developers not only warned that the tokens are not shares or securities (this is standard practice for the ICO), but also reported that they do not plan to use the EOS coins in any way in their platform. Someone in the future can build on the EOS platform an application in which these tokens will be used, but the creators of the EOS itself will not have anything to do with this. Until then, coins can be owned with pride or sold on crypto exchanges.
Mining of EOS
The possibility of EOS mining directly the platform creators intend to provide after the completion of the ICO. At the same time, the growth in the number of tokens, due to the issuance of new fees to pay new blocks, will not be able to exceed 5% per year. Given that 900 million coins are planned to be distributed to the ICO, and another 100 million will remain at the disposal of the platform's creators, in the first year it will not be more than 50 million tokens.
At the same time, there is the possibility of "indirect" mining. Tokens are currently purchased for airtime. So you can mine ETH and exchange it on the official EOS.IO website or on stock exchanges.
Where to buy EOS?
EOS tokens traded on more than three dozen crypto-currency exchanges around the world, but more than half of the volume (over $ 800 million per day) falls on the South Korean site Bithumb.
In addition, up to June 1, 2018 EOS can be purchased directly from the developers. Every day they distribute 2 million coins in proportion to the amount of air they contribute. That is if for the day EOS decided to buy only two people, one of which contributed 1 ETH, and the second - 3 ETH, the first will receive 50 million coins, and the second - 150 million.
Forecast for EOS crypto currency for 2018
At the moment, EOS "on horseback" - the capitalization of over $ 8 billion (9th place among all the crypto-currencies), the rate to the dollar is growing, investors are not interested in buying tokens.
However, now the project is just entering the stage of beta testing, on which Dan Larimer abandoned his previous undertakings. And some of the "symptoms" common to Larimer's previous projects are already observed. And it's not even about using the problem DPoS algorithm. From the very beginning of the ICO, from the wallets associated with EOS, large volumes of air began to "merge" into Fiat (tens of thousands of ETH per day). Similar was observed in the case of Bitshares, and in the case of Steemit.
The implementation of the project is also in question. The host platform for smart contracts, which developers have declared a "minimum goal", is still in the testing phase. "Decentralized operating system" while on the horizon is not visible, and in their ads developers diligently avoid technical details.
However, before the completion of the ICO (that is, until the summer of this year), a serious problem with EOS is unlikely - it can very well maintain interest only on the high-level and active PR. However, whether it will be able to gain a foothold in the market after - is unknown.