Review on EOS by Stephen Toluwani
Scalability and Cost is solved while using EOS
The EOS Project which started some years ago has gained popularity among Developers and Dapp users due to it's scalability solving mechanism placed on it's block chain. I have been noticing EOS on my trading platform and noticed it is experiencing downside price action and decided to go into learning more about this project which I will be sharing today. In my research, it was well spelt out that EOS major use case was for users to interact with Dapps via Smart contracts deployed from it's Blockchain. With scalability issues faced by the number one Smart contracts creation hub; Ethereum, EOS helps solve that issue by implementing a Delegated Proof of Stake for it's Network security. This helps it's Network achieve extreme speeds in transactions and even in smart contract creation, lower fees and a block chain that can complete up to 9000 TPS, EOS is poised for takeover. Right now, checking the number of Dapps and Smart contracts deployed on EOS mainnet, the number keeps on increasing but it's price doesn't seem to follow that trend. Right now, there is a lot of competition rising up and using the same methods EOS uses to solve scalability. With EOS being almost centralized, new improvements and updates should be done on it's Network. It's still a good option for use as many Blockchain games being created nowadays uses EOS, I am yet to see many tokens created using EOS except for a few but am quite sure it will be a good option for use.
Pros
- EOS works with a Delegated Proof of Stake consensus model which allows for faster and cheaper transactions on it's Network
- EOS is poised to be a contender for the position for Dapp creation because of it's low fees, fast transactions and accessibility
- Many wallets are supporting Dapp of EOS and this increases it's adoption
- The coin has a good market ranking and is traded on most exchanges
- Smart contracts and Blockchain games that are being created using EOS keeps increasing in huge numbers
Cons
- Market value of the EOS coin keeps dropping significantly
- New competition are springing up and they offer almost the same scalability as that of EOS
