Understanding Block chain Series- Overview of EOS Blockchain
A few days ago, The Eos blockchain clocked one, and there were so many celebrations about this, I saw so many videos and articles about EOS and the milestones achieved so far. Indeed EOS is one of the blockchains one ought to have a basic knowledge about in the 21st century.
A year ago, I wrote an article about EOS when I almost didn’t know so much about it, I stated that EOS was likened to an operating system for the creating of decentralized applications that would allow them to scale. This definition is still valid. Today, I am going to throw more light to help those who may not have the knowledge of EOS and the blockchain understand EOS better. Worry not! I got you covered as usual!!
THE STORY SO FAR
One of the dividends of technology in our era is the invention of the computer and the internet perhaps! Today, at least one in three homes in the world can boast of access to a computer or may even possess one computer for daily use.
For you to be reading this, you obviously have access to a computer or a smartphone with internet access. The million dollar question goes thus: what do you do with your smart devices?
The answer I guess is based on individuals preference,There have been a good list of use cases for smartphone and PC’s: some may use their smartphones/ PC to listen to music, create music, others may use it to watch movies, create movies, a few may like to store some vital information in order to share it with friends, A large chunk of users are gamers who have a lot of games installed! So it’s obvious that there are different strokes for different folks!
OVERVIEW OF THE EOS BLOCKCHAIN MODEL.
What I want to point out is the fact that all these applications that we run on our devices need CPU or RAM in order for it to run smoothly if not, one may have a bitter experience using such apps.
The EOS blockchain tries to mirror the everyday smartphone/Computers we use in our lives. There are a number of decentralized applications host on the EOS blockchain that has daily users too.
For one to have a hitch-free experience on these decentralized apps (Dapps), the account in question must have enough of the resources (CPU, RAM, NET) in order to keep the app running.
Just imagine this scenario…
Bob had this badass game he downloaded and has been wanting to try his hands on it. One day, he finally gets to find out that he can’t run the game because is computer/smartphone is of a lower version or rather the game needs a larger RAM space for it to work!
Would Bob be happy with that? What do you think Bob would do to run that game? He would look for a smarter device, don’t you think so?
The EOS blockchain envisioned this and leveraged on the CPU and RAM model to create a viable market for these resources needed to execute smart contracts on its ecosystem.
This means that once the adequate resources(RAM, CPU, and NET) are adequate in an account, that account is free to deploy the Dapp and explore that particular ecosystem in accordance to the governance algorithm of that particular Dapp.
So far on the EOS ecosystem, the available Dapps could be grouped into these categories for ease of understanding.
- Social and content sharing – eg Sense.chat, Trybe, etc
- Privacy and Security- eg Scatter, Uncloak.
- Gaming and gambling- eg EosBet, EOSGems.
- Payment and currency- eg HorusPay, Onepay, Azarus.
- Education- Carmel, Everipedia.
- Advertising eg Plactal.
- Exchanges –eg EosFinex, Chaince, Tokena.
- Platforms – eg EOX commerce.
According to Dappradar, there are over 400 Dapps that have been hosted on the EOS blockchain with different governance models. Some of these Dapps already boast of over one thousand active users who visit the apps on a daily basis to execute different types of smart contracts on them.
CONCLUSION
The beautiful thing about the EOS blockchain is that it has 3 useful explorers to monitor the transactions made on these Dapps, bringing transparency to the table. EOS is already trading in over 300 exchangers. There are a number of EOS social media to keep track of the activities in the ecosystem.
In the nearest future, there would be a proliferation of more decentralized applications on the EOS blockchain with greater benefits to the users, investors, and programmers in the long run. The EOS space has so many hidden treasures not yet discovered!
USEFUL EOS LINKS.
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