Hey folks,
EOS is often named as the Ethereum killer in the media. The ICO ends in June 2018 and there still aren't any real world use cases for this application.
Nevertheless the euphoria and thy hype around EOS is big.
If you compare Ethereum and EOS you might notice that both platforms pursue similar objectives. Like Ethereum, also EOS focuses the goal to create a blockchain-based platform where commercial decentralized applications cam be developed.
In contrast to Ethereum which can show several well-known projects (e.g. Cardano , VeChain , TRON, and many other... ) , EOS is still on its early stage with only a running test network. What doesn't creates a problem because as I said its on its early stage.
However the fan- and developer base around EOS is huge for this young project. The market cap is around 5.6 billion USD at a price of 8.49$ / token which results place 9 compared on the market cap.
The succes of EOS without any usecase probably depends on its promising functions what EOS wants to implement:
• No user fees
• Scaling to millions of transactions per scond
• Delegated Proof-of-Stake ( DPoS )
• Supermajority-consensous ( Instead of hard forks )
EOS Dawn 3.0
The Dawn 1.0 protocol was first released in September 2017. In December 2017 Dawn 2.0 was released.
Two weeks ago Dan Larimer announced the Dawn 3.0 protocol via steemit.
https://steemit.com/eos/@eosio/dawn-3-0-alpha-announcement
This annoucement generated a lot of enthusiasm in the EOS fan-base. The EOS team also announced that the Dawn 3.0 protocol can be downloaded on Github ( as Master Branch ).
Furthermore they added:
"Please note that the Dawn 3.0 code is still in Early Alpha and is not compatible with the current block.one-provided public TestNet; it will not be available in a public TestNet until the end of Q1 2018. In the interim, developers may create their own testnets with the new Dawn 3.0 code. As a reminder, Dan Larimer and the development team have changed the way we forecast development. This means we won't be announcing the date for the Dawn 3.0 Testnet until the timeline is close enough for us to have high confidence in its capabilities."
New features of the Dawn 3.0 protcol are:
• Deferred transactions
• Staking pools for DPoS
• New currency contracts
• New emerging token standard
Why could EOS be dangerous for Ethereum ?
Supporter of EOS are in the opinion that EOS could replace ETHEREUM as the next big developer application platform. Because of that they are waiting for the usecase of EOS that everybode can use EOS. With the Dawn 3.0 protocol the last step in this direction is done.
But probably these people have to keep calm because the ICO ends on June 1st 2018.
If there is a launch of a productiv system , EOS could overtake Ethereum in two key-factors:
• Transaction fees
• Transaction speed
In contrast to Ethereum , EOS basicly offers transactions without fees. Every developer could decide if he wants fees for his EOS-based Cryptocurrency. Furthermore EOS will have infinite scaling , which would be great innovation. In contrast to that , Ethereum had to fight with with increasing Gas-prices and long-lasting transactions in the last months.
The more important for Ethereum is to fix their scaling issue.
In my opinion EOS has to prove itself in the practice. In contrast to Ethereum , EOS can't show any productiv successes. But from an investors perspective EOS could be a good oppertunity for 2018.
As the platform launches and the first dApps could be developed on EOS , the price of EOS may increase.
This is no financial advise, its just my own opinion. Do your own research!
Thanks for reading, have a nice day,
Marcel McMaffel
