Dawn of EOS.
Countdown.
Release of the next DPOS family member.
3rd of june.
A new relative of Bitshares and Steem will go live on mainnet in a few days. It is a kind of Ethereum blockchain that will run smart contracts. It uses Delegated Proof Of Stake {DPOS} to add blocks at a very high speed to its blockchain. Where Bitshares and Steem do it at a countdown of 3-2-1-done, EOS is supposed to produce a block every half a second. For this to function blockproducers will do a couple of rounds before the next takes over.
EOS is supposed to be able to even more transactions in a second than banks do. And even then is still able to scale. Because it can add multiple computers in local clouds to handle transactions, in theory. The smart contracts on the EOS blockchain use the standard WASM {Web Assembler} language to achieve high speed. Where developers can enjoy their favorite programming language while it compiles into WASM.
Last minute stress.
There is a bug-bounty-hunt, to be sure to get EOS out on time and to have it work as it should right out ofc the box. Of course that added power to the beating stick of the anti-EOS movement. And that fueled the gossip train some more. Yet, as with everything else, it can be summerized as: haters will be haters. There will be a lot of eyes watching the first baby steps of EOS, both from nay and aye sayers. Ready to battle to proof each other wrong.
Things like no transaction fees do tend to add fuel to any discussion. You and me, being Steem members, know all about it, and can claim that it does work that way. Just as there is still a discussion on social media about blockchain technology not being able to compete with even credit- and debtcard transactions. Well, to those who deny the excistence of DPOS blockchains that is. But it is tough to explain to them that things moved on since the stone-age where only things like bigger blocks were important.
The price?
Market wise the mainnet activation of EOS might be at a bad time, at first glance. It could be expected to pump first, where speculaters then shortly after that will dump. This is part of the game. So I guess it will take a few weeks to see a more clear price developement. For those who seriously want to use EOS will keep it as their stake in the system. Steem members will understand how this is important.
As things evolve, more projects launch and excisting ones become popular I expect EOS to move into the top 3 on the market. It could even be the one to dethrone Bitcoin {BTC} in 2018. If it can deliver the promise, so no pressure. But remember to only invest in cryptos what you are willing and able to lose.
DPOS for the win.
Every few days I do check Blocktivity dot info. And from that view I can conclude that Delegated Proof Of Stake {DPOS} blockchain technology rules. Steem is the absolute number one, Bitshares a lot of times at second. Bitcoin {BTC} is at spot 4 most of the time, doing about 10% of the transactions that Steem does in one day. Now the stone-age big blocks rip off BCH gets beaten with double numbers by Dogecoin. And has a hard time staying in front of zCash.
Never mind that though, as it is clear that the only blockchain technology that can pump out those hugetransactions in a day without even blinking is DPOS. And it is to be expected that EOS will be in the top 3 of that list soon too. Could it beat Steem? We will see, because Steem has still a booster to come, called Smart Media Tokens {SMT}. No matter what though it is clear DPOS is in for the win.
Good for Bitshares and Steem?
Yes, I think that EOS will also move attention to its relatives, Bitshares and Steem. And that will attract investments too. It will raise demand for BItshares and Steem on the market. This happening in a time where I expect a severe purge in the Cryptos market this could mean a strong value gain for Bitshares, Steem and EOS. But I have to admit, some crystal ball watching is involved here.
Nothing is certain and things do not always evolve in a logical way. The times ahead sure will be exciting though.
May the Cryptos be with us!
A new dawn is comming soon.
Photo cc-by-sa @oaldamster.
Ik ben wel benieuwd wat we allemaal gaan meemaken de komende jaren. Ik ben er in ieder geval klaar voor... btw als EOS rake klappen krijgt de komende weken dan koop ik iig meer!
Het lijkt mij bijzonder boeiend hoe het zich gaat ontwikkelen. En ik kijk er naar uit. Kan ook een domper worden natuurlijk.
Yep I agree, when EOS will move up, it'll do good for Steem and BTS as well. Later this month, the international version of ONO will be released; When that happens, and they do the right marketing campaign around it, I think this will be another boost to EOS, and Steem and BTS. But, as we know from the past, it may go in spikes, since crypto space seems to be still rules by short term wins.
The next couple of months will show how it worked out. Hope EOS can live up to the huge expectations.
When not, it may harm Steem and BTS values at the exchanges
It will be interesting to see how this develops . Cool stuff might happen .
Your post is always different i follow your blog everytime , your post is so helpful . I always inspire of your post on my steem work . Thank you for sharing @oaldamster
Keep good work of every time ...
Thanks for sharing. It will be interesting to see how this develops. Cool stuff might happen!
You are welcome. Looking forward to it!
For EOS to rush would be folly, yes many will scoff at a delay, but really I rather it be hardened prior to release.
It was on testnet and the developement team did already fix the most urgent challenges. Despite of what some badly informed new sources claim. To me that is part of the EOS bashing.
And I think at some point, when all known bugs have been fixed, to do a release at the set date. Because the best way to harden something, I think, is in realtime.
Smart contracts are a very risky business, Ethereum already proved that. And I think it is a good move to do a last bug-hunting-bounty short before release.
All these measures harden the code enough I think for EOS to go into the deep unknown.
Or you might say that I do belief in EOS, hahaha. 😉
All I know is something is working right, I just looked yesterday and there were three airdrops already.
True, that is the ultimate test. Will it work...
Searched a bit, and it seems there are going to be a lot of airdrops. Wonder what kind of effect that will have.
Amazed to see that amount of airdrops for EOS only at one website already.
Thanks for the nice information
It is my pleasure.
This was a good one! I hope that the success of EOS will bring attention to Steem also. Even though Steem develops in a completely different direction that the general purpose EOS does, I guess that they remain competitors as brothers. Anyway, congrats for the article and I like so much this part of your disclaimer:
There is so much truth in it and so I lost some money when I tried to trade :))
Thank you, glad you like it!
Brothers can compete and both be succesfull. Take the brands Adidas and Puma for instance. In the case of Free and Open Source code they can even help each other out.
And yes, if logic were the guidance than Steem would lead the market cap and Bitshares be second. Unfortunately this is not the case...
Better luck in the future Andrew!
Thanks for the valuable update. Hope crypto market will rise very soon.
It will take quite some more shake-outs, I think, before the market recovers. Could take some weeks, even months.
great news. i will definitely have a look at this. thanks for sharing.
Sure worth to keep an eye on EOS.
I understand, I hope EOS can grow like BITCOIN. The question is, is EOS as safe as BITCOIN?
BITCOIN has proven safe, I hope EOS also like that.
I like your photo.
Is it sunset or sunrise?
Have a good day @oaldamster
EOS uses the same safety structure as Bitshares and Steem, I think it will be safe. Yet some things only will become evident in a real use situatiom. We will see.
Thank you, this was last days sunset. Took the photo during my walk.
You have a good day too!
Oe, i see know, so we can use EOS.
Thanks @oaldamster