There’s been a lot of signal and noise about EOS over the last few months. I thought I’d do a quick dive about it. I don’t personally own any EOS only because I have a hard time understanding what it is used for. And, well because on Twitter I read about too many EOS scammers and pumpers that I can’t measure network adoption reliably.
EOS (Ethereum Operating System) is hoping to be a decentralized operating system that can support commercial sized applications. Similar to AWS. EOS aims to remove transaction fees and support up to 1 million transactions per second.
From what I’ve gathered about EOS it’s in the middle of traditional websites supported by AWS or Azure and smart contract systems like Ethereum. I would think the use case for EOS is for people who fear their website would be shut down from regulation or government oversight. EOS is best for applications that fear platform security is an issue because it cannot be shut down at all like AWS or Azure. I could see it being used for more illicit purposes like dark web markets or gambling since there are no regulators.
The advantages of EOS are plentiful:
- Transaction volume is 1000/s (Ethereum is 15/s)
- Security
- The platform cannot shut down because it’s distributed
- Difficult for hackers because it’s more secure than AWS
- Censorship Resistant
Where I fail to see is real network adoption. I don’t know how many people feel like building with AWS or Ethereum isn’t sufficient for their needs. EOS is utterly path dependent on regulators value it.
Calling out to all developers out there building on EOS — can you explain to me what real-world problem EOS solves for you? Not questioning you, I genuinely just want to know!