EOS Cannon's stand to new resource model
Origin of EOS resource problem
In November last year, EIDOS distributed tokens through mining. Because of the large number of fans of its founder and the listing of EIDOS tokens on many exchanges at the same time, its currency price has received huge support in the short term. Whether it is using staked EOS or EOS mining with a lease CPU from REX, the mining is very profitable.
In a short period of time, EOS resources have entered the congestion mode. However, more and more users are participating in mining, and many exchanges have also taken advantage of the opportunity to join and help users to mine, and the price of REX CPU has risen 10 times. At that time, REX income was distributed instantly, but users had no incentive to continue depositing EOS into REX, which also caused the number of REX CPUs to be leased to continue to be 0, and EOS could not be returned timely by selling REX.
Ordinary users can no longer use EOS accounts, because of insufficient resources, there is no way to buy REX, they can only ask others for help.
For DAPP, this was almost a fatal blow. Originally, there were fewer DAPPs that make money and not many users. The CPU was expensive, there were almost no users.
All of the above problems have led to a very poor user experience for EOS users, and the number of active users on EOS has also rapidly decreased.
This crazy mining continued for a long time.
Some projects responded quickly and provided users with payment resources, and achieved considerable results, especially some wallets in China. MYKEY was designed to pay all resources for users from the beginning, so in this wave of EIDOS madness, it has acquired a large number of users. MEETONE and TP wallets responded quickly to provide users with payment services, and their user experience has been improved a lot. Some games and betting projects have been changed to let users play with 0 resource fee. Although the cost has become higher, it still maintains a fairly good number of active users.
EIDOS mining has prompted BPs to provide a more stable block production service, the wallet provides a smoother use experience, and DAPP provides more attractive activities.
However, it is a pity that some projects have left the EOS mainnet because they cannot afford EOS resources and are hard to obtain users.
Users who use MYKEY, MEET.ONE, and TP wallets have a good experience. However, other users will still encounter the problem of insufficient resources, and the threshold for using EOS has always been relatively high.
The price of EIDOS has been declining. It is no longer profitable to rent REX to mine EIDOS. However, the CPU resources of EOS have always been congested. There have been community key influencers analysis, because some accounts, which are from exchanges, have been mining EIDOS, and their total amount is close to 100 million EOS. Because their cost are 0, they will keep mining, and EOS will keep in congestion mode.
EOS Canonn's stand to new resource model
With the new resource model, users need spend money to rent from the REX market to use EOS resources. We believe that those accounts that mine EIDOS at zero cost may stop mining. This is of great benefit to improving the EOS resource congestion mechanism. We, EOS Cannon, has joined both Jungle3 and Kylin testnet. Together with other BPs, we look forward to and actively participate in the testing of the new resource model.
Those accounts that keep mining EIDOS at zero cost: (statistics from community key influencers):