Could EOS Be The Biggest Crypto On Earth? Top 5 Reasons Why

in #eos7 years ago (edited)

Steemit's Hero and Savior, Dan Larimer, to which steemit and by extent the community owe's its existence to, is working on building a smart contract platform called EOS. EOS is meant to be an Ethereum killer. That doesn't necessarily mean it's going to banish Ethereum out of existence, because it won't. But Ethereum will be long forgotten in a couple of years, just like Yahoo!

Reason #1

Eos has no Gas, unlike ethereum. This may not sound like such a big deal, but it actually is. The reason cryptos are only expanding at the pace they're expanding at even though people are getting shocking, life-changing returns in them is because it takes time. You really need someone to show you the ropes of how to store your coins, and the do and do-nots of the crypto space and security is perhaps the single greatest concern in the crypto world. Steem solves this with steem power and a time delay, which is crucial.

But steem could never be built on Ethereum, because every time you liked a post, you would need to make a mircopayment, or any time you commented as well. This is definitely not sustainable as a means of expanding at an as fast as humanly possible rate. Steemit has the ability to go mainstream, because the genius Larimer made Graphene, which is able to handle this many transactions per second. EOS will build Dapps (Decentralized Apps) that will all be able to have the same setup as steem.

Reason #2

Parallel Processing. At Intel, they spend billions of dollars a year researching, edging out an extra few percent in processing power linearly. At EOS, they're going to have parallel processing in order to support a mega amount of Dapps that should be the ones that go mainstream and change the world. Twitter-like dapps are being made, as well as a bunch of others. You can expect all these things to change the world by 2023-2027, according to Ray Kurzweil, a futurist at Google who's accurately been predicting the future since the 1980's. You can find a website with all his claims on www.future-timeline.net

Reason #3

Account Recovery and Simplicity of Use. Steemit was the first platform on earth where you could make money to blog using a crypto back-end and most people using the platform who weren't introduced to it from crypto, wouldn't even know they were using a cryptocurrency. And that's the way it should be. Account recovery is also essential. You can't expect the mainstream public who don't know anything about private keys and crypto to be able to secure their passwords or know anything about hash functions, so when their accounts eventually do get compromised, they need to be able to recover their accounts, and this is an all time first for crypto in steem.

Reason #4

Bug Flexibility. If there's a bug on any single Dapp, you don't need to hard fork the entire network. You can simply suspend the specific Dapp that has a bug in it while it's developers fix it and bring it back online as soon as it's fixed.

Reason #5

It solves the Governance problem, making it a Tezos killer too. When disputes do happen, and they will, there's a process to follow, and a constitution that everyone abides by in using the platform, and you don't have to worry about a specific Dapp located in a different country bringing you to their courts and having to fight them under a set of laws you've never heard of.
All in all, I think EOS is definitely going to be one of the best Investments of the next few years as most business go on the blockchain. Furthermore, with people anticipating the flippening happening, wherein Ethereum overtakes Bitcoin in market cap, I think it's safe to say that EOS, a bit futher down the line, will take Ether by storm.

Hope you enjoyed reading this
Please follow me @entity401 and upvote it if you found it useful.
Dan Larimer the Elon Musk of Crypto? I think so.

For all this and more, I recommend just watching his EOS talk.

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@ entity401 give you bonus 30 upvote

ain't you nice as shit <3

Nice compilation on EOS. You gave me a reason to buy again, I currently have 12 EOS and will be increasing it per month, I believe Dan Larimer can pull it off just like Steem and Bitshares

EOS!! wooooh

u rii lol

Great write-up. I can't wait for EOS to release a public testnet to see what it's capable of. Very bullish on this one.

I'm regards to scaling. Ethereum plasma and raiden will likely be a long time away. EOS will hopefully leave them in the dust when mainnet comes out.

I agree, thanks for sharing

Thank you - succinct and concise punchy break-downs are appreciated! The cryptocurrency world is awash in so much info !

Next year will be exciting !

thx for the post, will the Eos tokens actually be used after the crowdsale, I remember reading that EOS tokens might not even be used?
Could you perhaps clarify that part, because I stopped being interested because of this :)

To clarify, EOS erc20 Ethereum tokens will not be used on the EOS blockchain. They will be used as a reference to allocate EOS shares/coin on the EOS blockchain. i.e if you own 10 erc20 Ethereum token, you will own 10 EOS coins when the EOS blockchain is released. The EOS coins will be powering the EOS blockchain, not the erc20 Ethereum tokens after the crowd sale.

yeah, that's as far as I understood as well

That's not a good reason to not be interested imo. If I'm not mistaken, EOS is the token that the Data centers will be holding and staking, as it runs on a delegated proof of stake system. Also, the ICO is running on eth ERC20 tokens which you can redeem into a my etherwallet

Is this written down somewhere? The price has been coming down quite abit and I agree for 1.36 it seems a no-brainer. But a lot can happen in a year of crypto. Also can't find where the end date is for EOS?
The need for such a long ico period seems wrong to me, if the reason is to give as much people a chance to buy it.
What is the other reason? Greed?
What company needs more than 500 million to start with?

Could something better than EOS be made within this time? Probably unlikely but possible. Also how easy is it for companies that are now working with Ethereum to hop over to EOS?
So since the biggest companies are already working with Ethereum, what will make them decideo to hop and is it reasonable to think they will?

I am very interested in investing EOS, it seems to good to be true and generally that means it is.

Lol, tell that to IOTA, starting out with 3 Billion. And yeah, the main reason is to give as many people as possible a chance to get in on it, rather than just the first 5 days based on whoever heard about it first. Can something better be made? No. Not with people like Dan Larimer who works 25 hours a day with his team getting it up and running as fast as possible. I don't actually think thaaaat many people will hope over from eth to EOS. They're kinda different. One is for building apps like steemit, and one is for building older type's of platforms. The key here is that EOS can run on web assembly, which lots of people already know, whereas eth has a group who learnt solidity in order to code on eth. Ultimately, it doesn't even matter how good the EOS software is if they can't build a community behind it, and I think it's safe to say based on steemit, that Larimer knows a thing or two about building communities. Furthermore, EOS can build dapps that are going to go mainstream and be the facebook's and twitter's of the future where users get the value they bring to the platform, just like steemit, so I think EOS has unreal potential.

Thanks for your answer, IOTA started at 3 Billion? holy crap, didn't know this so the price tumbled after that?
So if EOS a different to ETH, which one actually has most potential in terms of mainstream adoption?
I need to read up more, but is EOS mainly for social type of networks where or wcan you think of other applications that could work on a similar basis as Steemit?
Sorry for the questions, but I am very much looking at where I want to put my investment in next.

np, no they didn't start out at 3 bill, that's just the number they're touching these days. Eth has 0 potential for mainstream adoption :). You really need to know about cryptos and where to store cryptos and a thousand other safety and security things in order to get into eth, whereas eos will be for grandmas and little kids alike

Great post. Yes have heard of them, but been reluctant to go further. Looking for more concrete news. Thanks for the post, helps a lot. Followed and upvoted. Feel free to follow back.

What is your take on happiness? Is it a state of mind or a state of being. Cheers.

np, ummmmmmmmmmmmmmm, happiness is a byproduct of a way of life. Here's a short 4 min video on a good philosophy of why you shouldn't actually chase happiness. It'll come by itself.

Let's add EOS cryptocurrency to Poof Pay https://poof.io !

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