EOS: Analyze the huge commitment behind potential block chain competitors

nnnEOS is a new intelligent contract platform for building distributed applications designed to address the most difficult problems faced by some of the block-chain technologies. Recently, the project held a series of large-scale public relations activities, allegedly, the project has raised transaction costs, and can achieve millions of transactions per second, successfully resolved the current block chain is facing the scalability problem. But now, the platform is still just a concept, only a white paper, but also did not release any code. How do investors understand it? The project chief technology officer, BitShares and Steem sponsor Dan Larimer provided some clues.n
nnTranslation: Clovern
nBlock chain has become a special statement of paradise, this is no secret.n
nComplicate things even the most absurd, but show the propensity to play. If two years ago, you heard that the block chain will continue to survive, and will become increasingly powerful, to allow venture to give up venture capital, then you may be laughing. And now, the laughter becomes the founder and developer of the ether square.n
nIn this larger context, the consensus meeting held last month revolved around EOS’s energy, and EOS was a new intelligent contract platform for building distributed applications designed to address some of the block-chain technologies The most difficult problem.n
nEOS developer Block.one held a positive public relations event, held a number of lectures, organized a post-reception, distributed free T-shirt, and even in the Times Square on the big screen advertising.n
nSelling point Block.one claims that its platform has removed transaction costs and can handle millions of transactions per second.n
nBut today, the platform is still just a concept, only a white paper, the current situation can not view any code.n
nSo how should investors understand this mysterious project? And when they heard that they were part of the work done to build the platform, the company was planning to raise funds by the next four weeks to raise $ 1 billion EOS to raise funds. How should they look?n
nAccording to the person you ask, you may get an answer.n
nChange the game rules?n
nPerhaps the most noteworthy aspect of EOS is the participants in the project. For example, the company pulled the familiar faces of its CTO: Dan Larimer.n
nLarimer is a highly controversial figure in the community of chains, and he is appreciated by the fearless and unorthodox approach taken to the development of new projects, and is also scoffed at the same approach he has taken and withdrawn Then
nMembers of the invention of the rights and interests of the invention, as well as to the central self-government organizations (later by the use of ether and modified) attributed to Larimer, he released in 2014 to the center trading platform Bit Unit (BitShares) and caused a sensation Encrypted money has a wealth of experience.n
nWhile many people have introduced bit market into anchored assets in the market as a precautionary measure to cope with volatile currency fluctuations, others argue that the project is too complex and more deceptive. Moreover, many people are worried about Larimer’s sudden withdrawal from the bit unit, which makes the entity lack a clear way forward.n
nIn 2016, Larimer left the bit at the same time, released another project Steem. The Reddit-style social media platform enables users to generate revenue based on the popularity of their posts. The project has won the title of the chain of chain experts, resulting in thousands of dollars in shortages, as well as biographical works, but also get some criticism, many people think that based on this lack of letter of the concept of scarcity, this platform is not sustainable.n
nBut Larimer and his colleague block.one’s chief executive, Brendan Blumer, argue that although these projects have been paused for a short time, they are also the basis for the construction of the top project: EOS.n
nLarimer claims that each project addresses the core issues that limit the widespread use of block-chain applications on a commercial scale. Bitstream introduces the concept of horizontal scalability, making the transaction processing speed of up to 100,000 per second. And Steem tries to solve the problem of transaction costs by trying to provide users with a way to interact with the application without generating costs.n
nBlumer has a video game currency and a real estate field background, according to its representation, the level of scalability – allowing parallel execution of intelligent contracts and synchronous transactions – is the “game rules change” EOS key.n
nUnlike other blocks that are basically running on the same network for each application, Blumer says, “Go to a single file line and then process one at a time.”n
nHe continued:n
nn”The existing platform is not scalable, and if these platforms are not completely rebuilt, they will not be expanded.”n
nnAs EOS did, start from scratch to build an asynchronous equity proof block chain platform.n
nLarimer said: “For the current user experience, these two projects let me know how to use the center of the alternative platform is difficult to distinguish between the block chain.n
nIs it successful?n
nLarimer’s new project is very similar to its previous projects and has been opposed by some people in the community. Some people hold “only I really see will believe” attitude, while others complain that he is entirely in the promotion of the so-called “million gold oil”.n
nThe main reason for the opposition is that it does not answer many important technical questions. The goal of EOS is to basically create the equivalent of a Web server equivalent to the early 1990s, although it uses some of the encryption principles found in Bitcoin and the Etherhouse.n
nEOS will be incorporated into Larimer’s Authorized Proof of Entitlement (DPoS) Consensus Agreement – which can be compared to a group of members with equal rights, and community members will transfer the responsibility for verifying the transaction to the elected “witness”.n
nSupporters claim that DPoS may shorten transaction processing time because fewer nodes are involved in the validation process. This, in turn, provides a solution to some of the traditional expansion problems found in the proven agreement.n
nBut many people are very cautious about the chances of such a two-sided deal.n
nTone Vays served as a block chain consultant in Larimer’s previous two projects, according to which he said that the encrypted currency in operation was dominated by a small group of core groups that wanted to hype platforms.n
nVale said: “Dan Larimer has launched a number of proof-based projects, and these projects are actually some suspicious.Whether the bit unit or Steemit are allowed to create a large number of their own tokens, and after that, The proof of the nature of the project also makes it possible for these industry people to permanently publish their own value tokens for their own.n
nThe white paper also explains the “cycle” of breaking down each block into different threads, and then decomposing it into different transactions that contain information, thereby alleviating the problem of transaction delays.n
n”This structure can be imagined as a tree structure in which the layers are processed in parallel,” the white paper says.n
nAlthough this infinite scalability and free trade statement is undoubtedly possible to achieve, but the current information available, it is an objective assessment of it is impossible.n
n”The white paper does not discuss any details and does not release any code, so no one can answer any specific technical questions,” said Wayne Vaughan, founder and CEO of Tierion.n
nDespite the lack of specific details, the project is still known as “the next ether square” and a comprehensive solution to the problem of scalability, but Vaughan pointed out that there are still some emotional out of control and unreasonable factors to promote their concerns surge.n
nVaughn said:n
nn”Those who are excited about the project, I think they do not understand their excitement, because the project has not yet put forward any end-user applications, nor does it show any technical details.”n
nnAccording to Vaughan, Larimer does not know what these applications are because there is no software to run.n
nAlthough Vaughan seems to have doubts about Larimer but still trust him for the time being, but others are not.n
nIndustry experts and software developers Chris DeRose believe that Larimer’s past statements and value propositions have been “completely out of reality” and that his current projects should not be taken seriously.n
nDeRose said: “He is very daring to take risks, he will be the project as a kind of generous behavior, but in reality is just a Ponzi scheme.n
nOn Reddit, a user named Geraldo even called the project a “centralized defeat” and thought that Larimer’s project would “be a top-down control and become a disaster.”n
nLet go in the pastn
nLarimer insists that some of the concerns about his past projects are exaggerated.n
nOn the one hand, he claims that his plans for the Bit Unit and Steem are beginning to build the platform until they are self-sufficient and properly handed over.n
n”I started [Steem] and I’m going to build an intelligent contract platform through it,” he explains, “and I’m just thinking about the idea and letting things get started, and Steem is provided by Steemit, Inc.”n
nAs for the Bit Unit, he said, “I am sure that this project is self – sufficient and self – reliant, and I have created this project and gave them the tools they need.n
nLarimer highlighted the fact that both Steem and Bit Unit continued to spark a strong interest in refuting allegations of his previous project death. The benefits and flows of these two projects have risen sharply in recent months, but he also acknowledges that some of them are also attributed to EOS marketing campaigns.n
nIn addition, Larimer said, block.one compared to other companies to bring a more powerful professional and sense of responsibility, especially due to Brock Pierce and Ian Grigg and other industry veteran participation.n
nHe said:n
nn”I am working with a very professional team, and this professional team for EOS management than any previous project is located at a higher level.”n
nnLarimer noted that several of his colleagues in the Bit and Steem projects followed him to EOS and are currently assisting in the preparation and review of the code for the project – but this fact may not alleviate the concerns of the opponents.n
nBut Tierion’s Vaughan provides a case where entrepreneurs can innovate without being haunted by haze and doom.n
n”Ultimately, there will be a group of people coming forward, trying to create something they think is innovative, and want people to build new applications on them.” Vaughan said, adding:n
nn”I think we should support those who are engaged in innovative work, which is what we need in this world.”n

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