Why EOS?
We already know EOS eliminates friction for developers, has the speed & technical capabilities to host any application, and keeps the control in the developers & users.
These first three reasons are described in further detail in Part One of Why EOS? here: https://steemit.com/utopian-io/@chiefmappster/why-eos
So what are some other reasons why you should pick EOS as a blockchain and currency?
My intent with these "Why?" guides is to provide information, context, and as much value as possible to you so that you can best set yourself, your family, and your friends up for the future.
This guide will explain my perspective on why pick EOS out of all these cryptocurrencies and blockchains. Here is Part Two of Why EOS?
REASON FOUR: EOS has no fees and is more user-friendly
Whereas Bitcoin and Ethereum are costly and hard to use for users, EOS is much more user friendly and costs nothing to use.
EOS will be easy to use, has user-friendly account names (unlike the long addresses of BTC and ETH), and ZERO transaction fees just like STEEM.
Let me say that again ZERO TRANSACTION FEES.
Go look at your Bitcoin and Ethereum transaction history and add up all those transaction fees. Not fun paying all those fees to make transactions.
No fees, easy to use, and friendly human account names. What is this blockchain 3.0?
REASON FIVE: EOS is hard to copy
What EOS is doing is so different that if Ethereum wanted to do something like EOS all of its current applications would break and would be incompatible with the new system.
The developers would have to build all new applications that can run parallel systems. This is not an easy or quick task.
@dan compares it to swapping out car engines while the car is running. It is a lot harder to swap out engines (Ethereum to a EOS-type blockchain) when the car is driving (Ethereum has billions of dollars of vested interest already), then to swap out the engine when the car is standing still.
Ethereum is the car driving and EOS is the car standing still.
Try building a race car from scratch or building a race car while its driving. Which one do you think will be more successful in the long-term?
Also, EOS uses a new virtual mining machine based off of Web Assembly, which gives them a faster execution ,up to 80% of native speed.
Ethereum uses the Ethereum virtual mining machine which is less effective. So to swap out mining machines would be kind of like swapping out the CPU of your computer to a different architecture, which is very difficult to do.
REASON SIX: EOS takes away our reliance on governments.
The nature of a smart contract decentralized system is to take away the government's jurisdiction to rule on arbitration cases.
With EOS there will be a new constitution that ever use apart of the ecosystem signs. This creates a new international jurisdiction by which it can handle contract disputes and problems without the need for government. By removing the government's ability to rule on contract disputes and bring it into the blockchain, EOS takes away our reliance on governments and limits the governments' power to influence the blockchain environment.
If you look at Bitcoin and Ethereum, government and multi-national corporations are all over these systems. Take a look at some of the top Bitcoin accounts by amount of Bitcoin. Notice the Feds? They use Bitcoin to store and transfer resources to assets in the field. It's all in the open. And take a look at the members of the Enterprise Ethereum Alliance. Do you really want to support these corporations and institutions?
EOS is a truly decentralized, new form of "government," that helps settle contract disputes both professionally & personally and regulates itself through the blockchain.
The result is a new smart contract platform that bridges the gaps between contracts to allow people, businesses, and organizations to interact securely with each other.
This concludes Part Two of Why EOS?
Part One here: https://steemit.com/utopian-io/@chiefmappster/why-eos
Hope this brings value to you and hope this helps you make the best decision for yourself, family & friends, and livelihood.
The Why? series will continue with BTS (Bitshares) next.
Thank you for your time and attention. It means the world to me :)
Sources:
- https:// youtu.be/8e0tinzPTbY
Image Sources:
Namaste
Posted on Utopian.io - Rewarding Open Source Contributors
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[utopian-moderator]
You're welcome appreciate it.
Helpful as well. Will read the bts article next, great work man.
My question is: why is EOS hosted on the Ethereum network, how will they transition to their own platform and what will happen with the current tokens? You mentioned registering the token, I think I will dig some more to understand what that means ;)
Here is a link with info about registering the EOS: https://steemit.com/eos/@vegeto/exchanges-does-not-register-your-eos-tokens
Basically registering your EOS makes sure you get the "real" EOS once it comes out this summer.
It is hosted on the Ethereum network because EOS only has their test network up and so they used the Ethereum network as the best option to host until their network is a go.
EOS is known as the Ethereum killer for the reasons you read and because Ethereum is more blockchain 2.0 where EOS is blockchain 3.0
So once the EOS network comes out in July, all these dApps, businesses, and organizations will flock.
Cool, cheers.
So if I understood correctly in my research, instead of registering my current tokens in the classical way I couldamass my EOS in the form of open.Eos on openledger and have it automatically be exchnaged for regular EOS when the network launches?
Seems more convenient ;)
That is exactly what I am doing. Way more convenient :)
I just heard some info on the Bitshares hangout last week that made me want to make sure I had other options in case something happens to Openledger.
I will bring it up this Saturday in the Bitshares hangout to make sure this method is still a viable and convenient one :)
Awesome. I thought the network's strength comes through non-centralization. So even if Openledger went offline, we still have our investments in the bitshares network no?
even if not, I could see myself legitimizing my unregistered Eos I have in a wallet, transfer them to the bitshares network and have them verifyed that way. And maybe move them back to the wallet, when EOS launches.
Hope they don't close all our gateways on the network :)
I really shoudl dig some more, thanks man your answers have helped me greatly
You're very welcome. And yessirrr thats where it comes but more and more organizations and people are trying to change that it seems.
But yep our investments would be safe on the Bitshares network we just wouldn't be able to get it out using the Openledger portal.
I'm actually going to write a post today called "Why Not to Use Openledger" their CEO came out yesterday and talked during the Bitshares hangout and man was it embarrassing.
It is awesome that anyone can build a gateway to Bitshares, so Openledger is just one gateway. I know a couple ones are in development as well.
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Hello,
Can you give the link of the part #1 at the start? Post starts from reason #4, however, if the readers didn't read it before, it may be confusing. Letting readers know there is part one already might be good.
Please, inform me when you're done and we're good to go.
Thank you.
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[utopian-moderator]
The changes you requested are made. Thanks again. Appreciate all the hard work you do.