Thanks for your answer. So for someone joining EOS now, what would one do there? Or at this point is it mainly people who are creating social media platforms that are doing things there? Thanks!
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Thanks for your answer. So for someone joining EOS now, what would one do there? Or at this point is it mainly people who are creating social media platforms that are doing things there? Thanks!
One of its main uses is for developers to create apps that will be used on the platform without any fees like gas. Holding the EOS tokens will give you a % of the bandwidth and computational power needed to run these apps on the blockchain. Users of EOS based apps will be able to do so without paying transaction fees for everything they do, just like we're doing on steemit.
I'll surely look into it once it gets to the point when some of those apps are up and running and are usable. Thanks!
@ponts is right - there is incredible scope for EOS to expand and build and become an enabler of fantastic new Apps (or strictly speaking DApps - decentralised applications). These new Apps will have all the benefits of being built on a blockchain, but most users won't have to even notice or care. But like with STEEM, it will enable payments, create an incontestable record of truth, and (unlike with Ethereum etc) as long as the user has some EOS in their account it will all be free.
Thanks. I will keep an eye open for when the first apps roll out that we can use for content posting there.
I haven't much experience with cryptocurrencies, but it looks to me that soon, either all crypto is going to get some real solid ground under it and soar, or there'll be a huge, concerted push for it to be stigmatized as a money laundering scheme, and then it'll fall flat for the last time.