I took a look at EOS back in mid-July. At the time, it was trading around $1.35, and I decided to pass on this one thinking we would see lower prices in the future.
That’s exactly what has happened. Since my original article EOS has trended down, reaching a low of around $0.50. It’s been moving up the last few days and accelerated today. Now it trades over $1.00 again, so it’s time to take another look.
EOS bills itself as the most powerful infrastructure for decentralized applications.
It’s scalable, flexible, and usable with a web toolkit for interface development. EOS’ parallel architecture makes it scalable. Initial benchmarks show EOS can sustain over 10,000 transactions per second (TPS) and once it’s fully operational it’s supposed to do over 100,000 TPS. That’s more than Visa, Facebook, or Google. And more than Ethereum too.
The company behind EOS is block.one, a company that offers end-to-end blockchain solutions. It’s led by CEO Brendan Blumer and CTO Dan Larimer. Dan, of course, was instrumental in creating Bitshares and Steemit.
The project is progressing nicely, you can take a look at the roadmap here. In September the team released Dawn 1.0, the minimum viable product. Release of Dawn 2.0 is expected before the end of 2017.
While the development proceeds, so does the token sale. EOS is doing a unique ICO where its tokens are being released over a year long period. It started last June 26 and should run to about June 1 of 2018. You can find more details here.
Here’s a look at how the EOS token has performed so far.
EOS has been labeled as the Ethereum killer. Let’s look at a few key differences between the two.
Ethereum is application agnostic. In other words, if an application is needed, someone will build it on top of the platform. EOS has many functionalities that most applications need built-in and offers a software development tool kit. That way developers can focus on their specific use case. The Ethereum way reduces bloat. The EOS way makes development easier.
Another key difference are the governance and consensus mechanisms. Right now Ethereum uses PoW but is planning to move to PoS. With PoW you’re at risk of contentious hard forks. And there’s no guarantee a switch to PoS will be successful. EOS uses DPOS, which takes much less energy and has no risk of a hard fork. EOS has a mechanism to freeze and fix broken applications and there is a common jurisdiction for disputes.
Then there’s the tokens. The EOS token gives you a proportional share of the EOS network, but there’s zero transaction fees. The EOS supply is fixed. The ETH token is needed to pay fees in exchange for operations on the network. The ETH supply is inflationary.
This is just the tip of the iceberg for EOS. Definitely an interesting project, more research is needed. It’s enough though that I’ll likely pick up a few tokens.
For more on EOS check out the White Paper.
EOS also just released a white paper on storage. It’s combining IPFS and the EOS.io software to provide high bandwidth storage on the blockchain.
And finally, here’s an update from Dan from October 29.
What do you think of EOS? Can it compete with Ethereum?
Small correction: the supply of EOS isn't fixed. The supply of the ERC20 token is fixed, yes, but validators will still get EOS as block rewards for creating blocks on the EOS blockchain.
Thanks for the correction. Do you know the block reward amount?
It isn't set as of yet, and it'll likely be variable. The whitepaper claims there will be upto 5% inflation annually
Appreciate the info!
Thanks for the info! I saw this coin doing really well today and I am thinking of purchasing and this post has been really helpful for me!
Your welcome!
It's a great coin, but I absolutely hate their "daily ICO." Every day it inflates the coin and brings down prices; I wish they did their ICO differently.
Otherwise, I think everyone should take a look; anything Dan Larimer touches is gold.
On the plus side... gives us time to get in
it defiantly has the potential
great information
Thanks for reading!
Upvote and follow)
Thanks!
@g-dubs yes EOS is a succesful one I believe. I bought some at 50 cents and some at 65 cents. upvoted. @gold84
The more I look into the more I see it solves some of ETH's problems + Dan Larimer... so I like it too. Nice buys!
@g-dubs the same here. Thanks for your support on my past posts too. @gold84
It's back to top 20 again!
It's unexpected!
I should buy it when it was low,so regret now...
Lol feel the same. Still a long ways to go for the token sale so maybe we'll see a pullback again.
EOS is certainly an exciting project with a lot of potential. It's token is still very volatile though so it is really like a speculative stock at this stage. I'd prefer to see something more solid come out and the ICO a bit further progressed before investing too much but it's definitely on my wish list to buy when I next go bargain hunting.
I'm looking to scale in as well. I like to put in a few bids and let the crypto volatility do its thing.
Such a great information about cryptocurrency..
@followed and upvoted
Thanks!
I've been holding a small amount of EOS for months now, bought waaaay higher than now. But what's going on with the price suddenly? Any news that I missed out on? We're super high compared to a while ago.
No big news really. IMO it's mainly that the price has been repressed by the climb in BTC leading up to the gold fork and the segwit2x fork.
Hm.. interesting... I had thought it would stay low for a long time, because of the long ICO
oh it's still very low, it was just being kept even lower
Here's the news you may have missed out on. It's a developer update made by @dan 3 days ago, which was posted right before the spike in price.
https://steemit.com/eos/@dan/eos-io-developer-update-support-for-apple-s-secure-enclave-and-similar-technologies
Pretty big news IMO, and the market seems to agree.
Oh wow, thanks for the update!
I haven't seen any specific news... maybe it's getting pumped in the chat rooms???
No idea, but @haejin was calling EOS to rise before it did through Elliot waves theory. Which is really interesting if you ask me.
Yea when you can get the technicals to line up w the fundamentals it can be really powerful. Hopefully @haejin does an EOS update soon, looks like it blew past his targets.
Indeed it did, but that could be attributed to people chasing the highs in this down altcoin market?
I suspect that the price will bounce around at the bottom until period 180 (half-way point), at which point FOMO will start to kick in as the end of the token sale approaches.
I think the fomo is starting to build, I'm hearing more on EOS recently.
I like EOS, I have some already but the massive dip didn't do me any favors. regardless I'm looking forward to utilising the platform.
Something people tend to miss out on providing info about the token, as right now the token is traded over the ETH platform however when the year-long crowd sale finishes i recall that that will be porting all the tokens across to the new EOS platform.
Thanks for the info! A lot to cover on EOS, I'm sure there's other details I haven't included.
Absolutely exciting project, can’t wait for its release mid 2018!
Considering everyday inflation of 2 millions tokens a surge of 40% clearly indicates how much attention this project has and will have after the release.
A long time between now and then... I wonder if we made the bottom or if people will lose interest and it falls again.
True though, exciting project, the more I read the more I like it. And Larimer has a good track record.
It's not inflation, it's just part of the distribution. Big difference.
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Awesome, thank you!
Nice work w buildawhale!
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EOS will be awesome but I would wait, they still have 560 Million to Sell in the ICO 😀
That number is how many they have already distributed, so out of the billion there's 440 million left.
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