EOS is One of The Very Few Solving Major Blockchain Problems

I attended the EOS London Meetup a few days ago for the purpose of learning more about what EOS have to offer and whether it would be the right blockchain to build my DAPP idea on.

Event went smooth and I was able to ask Dan a couple of questions about EOS for some clarification.

Blockchain technology is relatively new and most altcoins have built-in procedures causing barriers to adoption.

Coin Generation

It takes $1000 dollars to create 1 bitcoin, which is good as it requires work to create one however the amount of energy it consumes is alarming. EOS.io is using delegated proof of stake with an annual interest rate of 5%.

Transaction Fees

With Bitcoin and Ethereum you're required to pays fees for moving your coins and truth is nobody likes it. Imagine having to pay a fee to post on Steemit. Since EOS is using DPOS consensus algorithm there will be no transaction fees.

Storage

Most blockchain storage methods requires paying a crypto fee for storing and receiving data. On top of that, the fees are higher than top 3 cloud storage providers Amazon S3, Microsoft Azure and Google Cloud. EOS aims to defeat that by letting the user place a refundable deposit and as long as they leave their coins, they're entitled to storage and bandwidth.

EOS.IO Storage White Paper

My Thoughts

There are many coins out there which doesn't offer any problem solving mechanisms or ways to eliminate mass adoption barriers. That's what makes EOS stand out as they really are working towards building an infrastructure capable of creating huge apps.

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I have a great DAPP idea and I'm searching through different crypto communities to find developers. Most likely be using a smart contract platform such as EOS.

Let me know if you're interested!

Telegram - shango44