The Strengths and Challenges of EOS
EOS, which makes use of an Ethereum like technical process on the blockchain was conceived and created by Dan Larrimer. He is also the creator of Bitshares and Steemit which are considered quite popular among consumers. EOS has managed to raise a record of a whopping $150 million within 5 days of release during the ICO and eventually made a debut on the BItfinex a while back where it surged the price by 200 percent in a challenging span of just 2 hours!
The EOS crypto coin has manifested a substantial progress and proffers a host of advantages over Ethereum. EOS functions as a decentralized operating system which indicates that the developers are free to construct their own decentralized cryptocurrency applications on the platform for the unique needs and preferences of the business. It is worthy of mention here that the developer doesn’t have to use the coins for using the resource available in the server.
EOS allows the developers to create applications for the end users so that they can easily interact as required. The applications on the EOS are equipped with the capacity of communication, sharing the frameworks and resources. This facilitates easy and faster development which is less technical and much secure.
The tokens can be claimed to power the bandwidth of the blockchain, storage capacities, and computational power. Those who are willing to exploit the mining channel can set the miner to any sort of Ethereum pool of their choice and then convert the earned Ethereum to EOS.
EOS for Business
The Strengths of EOS:
EOS is armed with numerous strengths which are enabling Ethereum and other such cryptos to run for their money. Some of the most commendable strengths of EOS include:
Flexible governing principles– The constitution and governing principles of EOS are flexible so that the stakeholders can effortlessly agree upon them. These set of rules and regulations are attached to every block and EOS is the first crypto to come with a constitution.
EOS is evolutionary and self-sufficient– The current model of EOS gives space for a 5 percent inflation, which, in turn, can be used for developing the network as per requirements.
Free transaction– The EOS model doesn’t require its consumers to pay for each and every transaction. One of the best advantages of EOS is that it is free to transact which facilitates an increase in adoption.
Hosting on servers– The operating system of EOS is hosted on different data centers or servers which can also be blocked producers. Block rewards in EOS are regarded as incentives for the servers for hosting the EOS applications.
User-friendly process– It is easy to craft ERCZO-like tokens on the EOS which indicates that the ICOS can be hosted on the given Blockchain. On the other hand, Ethereum is not able to make interaction with the Blockchain a user-friendly process. The applications of EOS make use of some common functions such as user interfaces, user login/password, and backend management among others. This indicates that the applications are able to share the libraries which facilitate secure and faster development.
Challenges of EOS:
With the matchless features and amazing strengths, it is now time to consider the set of challenges offered by EOS.
The father of EOS, Dan Larrimer is famous for moving on to subsequent projects as he did with Steemit and Bitshares. Even though it is a praiseworthy quality on part of the creator, it could lead to the undoing of EOS in case the timing is not quite right.
There are several rivals present in the ICC market besides the Ethereum. Projects like Crown, RChain, and RootstockISK are some competitors that deserve mention since they have not yet released their decentralized platform suites. Once the platform suites are released, it may become cheaper and even easier for the developers to utilize. However, the wait is yet to be over.
Is EOS worthy of investment?
Considering the EOS’s present position in the market, it would be a bit tricky to decide whether EOS is worthy of investment. At present, the ICC market is agitated and the mania among the developers could be a factor in buying high priced tokens even though they may come with a weak regulation.
The smart contracts in different cryptos will come in readable formats in place of binaries. This can offer room for maintenance of proprietary smart contract confidential.
There is presently no cap on the amount of money that is being funded in the ICO. It is critical to think how the excess funds can be managed and whether it can pave the way for hyper-validation. Experts are also considering what happens once the tokens are moved and whether the short-term investors are inclined to make quick money and cause the price to crash.
EOS crypto is still in its developing stage and has some grounds that need to be covered in order to develop fully. On the other hand, EOS token is the first decentralized operating system. Thus, the developers must be aware of the nuances of the EOS system in order to make the most of it and some thoughts on EOS include:
Bidding at the initial first few days indicates that the investors may pay a higher gas price. It is impossible to determine who is going to pay the least for the EOS and whether diversification can solve this problem.
There are several benefits of investing in EOS token at present while the challenges cannot be denied at all. The issues are critical on the grounds that EOS token is a means of managing a share of the obvious shortcoming of Ethereum. The blockchain technology has already taken the market by storm and it is expected to continue doing so in the coming years.
The Strengths and Challenges of EOS
EOS, which makes use of an Ethereum like technical process on the blockchain was conceived and created by Dan Larrimer. He is also the creator of Bitshares and Steemit which are considered quite popular among consumers. EOS has managed to raise a record of a whopping $150 million within 5 days of release during the ICO and eventually made a debut on the BItfinex a while back where it surged the price by 200 percent in a challenging span of just 2 hours!
The EOS crypto coin has manifested a substantial progress and proffers a host of advantages over Ethereum. EOS functions as a decentralized operating system which indicates that the developers are free to construct their own decentralized cryptocurrency applications on the platform for the unique needs and preferences of the business. It is worthy of mention here that the developer doesn’t have to use the coins for using the resource available in the server.
EOS allows the developers to create applications for the end users so that they can easily interact as required. The applications on the EOS are equipped with the capacity of communication, sharing the frameworks and resources. This facilitates easy and faster development which is less technical and much secure.
The tokens can be claimed to power the bandwidth of the blockchain, storage capacities, and computational power. Those who are willing to exploit the mining channel can set the miner to any sort of Ethereum pool of their choice and then convert the earned Ethereum to EOS.
EOS for Business
The Strengths of EOS:
EOS is armed with numerous strengths which are enabling Ethereum and other such cryptos to run for their money. Some of the most commendable strengths of EOS include:
Flexible governing principles– The constitution and governing principles of EOS are flexible so that the stakeholders can effortlessly agree upon them. These set of rules and regulations are attached to every block and EOS is the first crypto to come with a constitution.
EOS is evolutionary and self-sufficient– The current model of EOS gives space for a 5 percent inflation, which, in turn, can be used for developing the network as per requirements.
Free transaction– The EOS model doesn’t require its consumers to pay for each and every transaction. One of the best advantages of EOS is that it is free to transact which facilitates an increase in adoption.
Hosting on servers– The operating system of EOS is hosted on different data centers or servers which can also be blocked producers. Block rewards in EOS are regarded as incentives for the servers for hosting the EOS applications.
User-friendly process– It is easy to craft ERCZO-like tokens on the EOS which indicates that the ICOS can be hosted on the given Blockchain. On the other hand, Ethereum is not able to make interaction with the Blockchain a user-friendly process. The applications of EOS make use of some common functions such as user interfaces, user login/password, and backend management among others. This indicates that the applications are able to share the libraries which facilitate secure and faster development.
Challenges of EOS:
With the matchless features and amazing strengths, it is now time to consider the set of challenges offered by EOS.
The father of EOS, Dan Larrimer is famous for moving on to subsequent projects as he did with Steemit and Bitshares. Even though it is a praiseworthy quality on part of the creator, it could lead to the undoing of EOS in case the timing is not quite right.
There are several rivals present in the ICC market besides the Ethereum. Projects like Crown, RChain, and RootstockISK are some competitors that deserve mention since they have not yet released their decentralized platform suites. Once the platform suites are released, it may become cheaper and even easier for the developers to utilize. However, the wait is yet to be over.
Is EOS worthy of investment?
Considering the EOS’s present position in the market, it would be a bit tricky to decide whether EOS is worthy of investment. At present, the ICC market is agitated and the mania among the developers could be a factor in buying high priced tokens even though they may come with a weak regulation.
The smart contracts in different cryptos will come in readable formats in place of binaries. This can offer room for maintenance of proprietary smart contract confidential.
There is presently no cap on the amount of money that is being funded in the ICO. It is critical to think how the excess funds can be managed and whether it can pave the way for hyper-validation. Experts are also considering what happens once the tokens are moved and whether the short-term investors are inclined to make quick money and cause the price to crash.
EOS crypto is still in its developing stage and has some grounds that need to be covered in order to develop fully. On the other hand, EOS token is the first decentralized operating system. Thus, the developers must be aware of the nuances of the EOS system in order to make the most of it and some thoughts on EOS include:
Bidding at the initial first few days indicates that the investors may pay a higher gas price. It is impossible to determine who is going to pay the least for the EOS and whether diversification can solve this problem.
There are several benefits of investing in EOS token at present while the challenges cannot be denied at all. The issues are critical on the grounds that EOS token is a means of managing a share of the obvious shortcoming of Ethereum. The blockchain technology has already taken the market by storm and it is expected to continue doing so in the coming years.
