I was talking with @kyriacos who pointed out something that I kind of believed myself and even Dan said this at one point. That we should all be personally very very interested in EOS being HUGE. You, by reading this here, should be personally very attached to this project.
How's that?!
Basically, if EOS goes to the moon it might hitch STEEM with it, maybe even bts. It might not, but I think it is possible that we'll see a lot of benefits. Maybe people will actually wake up to our blockchain that, sincerily, is like the beautiful girl you don't notice in high0school because you only had eyes for that BiTCh next door who never spends time with you or maybe that new girl: ETHel.
By the time you hit adulthood you ran into STEEM and are like: "DAMN!".
It's time for more people to see this.
EOS might help.
and
EOS might itself be an amazing project.
Or will it?!
I see a lot of hype on EOS these days. Everyone and their mother want to get in the ICO, get some EOS, get rich! That's all good and dandy - especially for the success of the project - but I am not sure that most people understand why. Is EOS really something interesting or just another pump and maybe dump type of project?
Should we all go ga-ga over it just because Dan is the (genius) mind behind it?
I'm trying to answer a few of these questions and because I am not a dev, I invited @nadejde to help me out with a few clarifications. Now, @nadejde is friend of mine, recently seen the light of the blockchain and it is currently what I can only descriebe as an EOS-maximalist. It might be a little ironic that you can be that, given EOS does not exist yet but there you have it. Still, it got me thinking on the "why". After all, this guy is not stupid so he must have some good reasons, right?
He wrote a pretty good post explaining his view on EOS, which I invite you to check out if you care and we're trying to get to the bottom on a few more key features of EOS in this post. As always, I try to bring YOU to speed, digging deep to the essence of a project and trying to get beyond the buzzwords and techy terms that bring - to me - not much clarity.
I'm trying to look at this from two points of view: What can EOS do for a dev ( which are big fans of ) and what can EOS do for the user ( which are incredibly important for the succes of a project). Now all this is not as clear cut as it seems...a good dev can and will bring a very well done project on EOS and the user needs not understand anything but actually enjoy using it. It's how the internet works afterall...you don't need to know html to use an e-mail, right?
Maybe ultimately, EOS will be won and lost on how many devs see its potential and embrace it, build apps on it etc. Still, let's look at those advantages.
@nadejde, take it from here!
Hey guys, I wrote this little 101 on how I see this eos from a dev perspective. Feel free to ask more in the comments and I hope you find it useful.
Named accounts and powerful permission schemes
Why this is good for devs:
Named accounts makes my app more readily available to people who have not been exposed to any cryptography yet. That is great. I want as many people as I can get on it. The complex permission scheme is also very good. I get out of the box built in access control and security that I can leverage in the app directly without needing to write more code.
Why this is good for users:
Users don’t need to know much about cryptography. Not in the beginning anyway (you should ease them into the concepts gradually though. We do want to educate them). They can get a username and a password just like they’re used to in the rest of the the internet and be on their way.Basically, a lot like we do here on Steemit.
Account recovery
Why this is good for devs:
Not really impacting me a lot as a dev, except perhaps my users will be more inclined to use an app that lets them change their password or recover their account if they forget it. Lets face it. No one wants to have support tickets of people losing their access raging on forums and spilling bad press.
Why this is good for users:
Changing your password and being able to get even even if you get locked out is great! When is the last time you used an app that did not have this built in? I mean seriously the private key thing is great for geeks but my grandma will probably just stick with whatevershelikesthesedays (sic)
Account security
Why this is good for devs:
I get the option to build time delays into everything that is sensitive in nature. That is excellent as I can now notify my users when transactions take place and give them the chance to step in and reverse potential unauthorized actions on their account.
Why is this good for users:
Account hacking protection helps you sleep better. No chance of waking up one day with everything gone and nothing you can do about it. Make sure to get a buddy that can help you out of a jam! This is nothing new and lots of state of the art apps employ these kind of techniques.
No transaction fees
Why this is good for devs:
I can have free apps for my users without having to worry about gas management, reimbursements and abuse protection. The model of holding stake to get access to resources is also good as I can start with very little while my app is small and just scale up as my user base grows just by securing more EOS.
Why this is good for users:
Nobody wants to pay a little bit for whatever they do. Users are used to things being mostly “free” on the internet. Charging them a little bit for anything they want to do will probably scare away most people. People are not ready for this. Sounds good in theory but as long as money is money very few people will go for the microtransactions. Perhaps in the future:)
Upgradable code
Why this is good for devs:
This is an awesome feature and maybe the best one...I can build my app in an incremental, agile fashion without having to worry about the costs of a new version for my app. No code is perfect and there will be bugs. I can’t build my app like you build a train or a car as I don’t have the billions to spend on R&D and QA. Nor do I have the time to do all that. I need my product out there and I need to be able to quickly adjust to what my users need.
Why this is good for users:
Getting requested features quickly and without any hustle is good for me as a user. I don’t like buggy apps either. Immutable code is a nice idea but lets face it how many regular people will review the code before using an app? That is really not a thing:)
Speed
Why this is good for devs:
I can support a lot of users without having to worry about queues or my app being unresponsive. I don’t have to hack extensions and other external systems to get things to run smooth. I’ve grown accustomed to this kind of smooth running services I don’t want to go back 10 years ago just so I can develop on the blockchain.
Why this is good for users:
When I click on something it instantly happens. That’s what I’m used to and that's what I like! Haven’t waited more then a couple of secconds for something to happen since dialup. NOT GOING BACK!
That's it from me guys, I let Raz to wrap it up but again, don't hesitate to ask questions, I'll check the comments!
Look at this list, it seems to be that it's all about "less friction" between the blockchain and the users. Which is great, we want fast, reliable, simple ways to use the blockchain and its apps. Sometimes, it is very difficult and hard to explain and most people will stay away just because the mental effort it's too much. Either force them or seduce them :)
And look, STEEMIT has a lot in common with EOS. Who knew we were on the blockchain? I mean, we KNEW, but who knew what IT MEANS? We were all seduced by a new way, and in one year, transformed into cryptoheads ( or specialists :P ) by natural progression. EOS will do the same for everyone. In time. Or at least, that's te promise. Maybe.
I am a cynic ( another side-effect of roaming through the crypto-world ) but also a believer in the potential of the blockchain. These two directions clash and in this case...let's just say I'm casually optimistical about this project!
But first, let's see more code and see how the ICO goes and give it time :)
I'll see you next time!
Great post man. I believe even if EOS does not work, Steemit will get attention. Like we talked before, very few people know about the power of Steemit and what it really entails. It is a self-sustained economy. I don't think any other blockchain has done this. Steemit will take off soon.
yes, and coming from you and me, who are fairly skeptical in nature, I agree with you completely. The HF 19 resolved the last remaining problem for mass adoption.
It is now just a matter of time. Mars.
My profile picture is Aphrodite. I am aiming a bit further :P
Ok Kyriacos.
Thanks a lot. For sure, I hope you are right. But there are other scenarios possible, maybe EOS will just eat up bts and steemit. Who knows?
Time will tell, but I like it here...
I just realized the power of Steemit and it's hard to contain myself!
EOS should have a Turn key Button to convert any Ethereum DAPP to EOS DAPP in one click. :)
The Whitepaper does mention that execution of Solidity code might be possible. So might happen!
we definitely need that
Excellent post thank you. I try to learn about EOS as much as I can and this information was very helpful.
What a great article, it is time to share for the benefit of us all! Thanks a lot for exposing this information and giving EOS such a well deserved pedestal.
All for one and one for all! Namaste :)
Eos for the moment is a mystery. As soon as possible we need more information. But I think can be the next ethereum
Everyone want to be the next ETH!! :))
Right now no one wants to be the next ETH :) price dip... and network congestion... (26 June 2017)
You don't need me to resteem you but I did it anyway. I am going to look deep into EOS.
always appreciated
With predicted 50,000 transactions per second, nobody can compete with EOS at this stage in terms of volume of transactions it can handle with almost no fee.
"predicted". :)
wow, that is a good stat to know.
so, the ETH crowd, it got popular but once EOS is known, it will be able to outperform Ethereum? Is that true?
EOS has the potential to outperform ETH, as it has been being developed using the most advanced technologies using Wren programming language and embraced Web Assembly.It is a game changer, it will enable high performance web applications
EOS seems will get rid of many barriers that are taking off most users from blockchains
that's the plan, isn't it?!?!
yep, this is exciting times to live
There's no way to invest in this yet? It really sounds like the best coin in a while!
Only test ICO running at the moment. Subscribe to eos.io newsletter for updates. Actuall ICO was promissed to be SOON
Already subscribed 😊
Seems like the next big thing!... It comes from the same genius mind that created steemit so, expectations are high...
Wasn't the promise of BitShares from 2014 that if you held tokens at particular snapshot milestones that you would get a stake in ALL future projects?
possibly the future bts-based projects...
"The user needs not understand anything but actually enjoy using it"
I couldn't agree more. When surrounded by people with similar interests, it's easy to forget that the wide majority of people may not actually get it at all... And from a user point of view, they shouldn't have to indeed. Users just want more and better than what they already have and new things needs to not only cover these basics but also provide something extra to attract the flocks, and this will be the major challenge.
And while 'excited about EOS' would be an understatement on my behalf, I'm yet to see a fraction of that feeling when I talk about it to anyone who isn't already into this.
A hilarious example of this is seen in 'Sylicon Valley' (HBO's tv show, highly recommended and promises a lot of laughs)
I love Silicon Valley! The last season is basically about EOS/ETH/Blockchain!
Amazing! Still not seen the new one but I keep thinking about the show when I read about blockchain and Internet 2.0.
Excellent post by the way!
Optimistical...?
this is a very interesting project to follow! thanks for the input
there are more than 1000 cryptocurrencies now days. Before we find a really winner. there will b some consolidation in the crypto industry.
I have been going through this exercise of explaining EOS and re-explaining EOS to make the concepts simpler to understand and make the pitch more succinct.. It's posts like these that make it seem so easy! Thank you for your contributions! Much appreciated
Thanks a lot. It's not easy even for me to get some of these concepts as I am not a dev. It helps to have good friends :D
This post received a 35% upvote from @randowhale thanks to @razvanelulmarin! For more information, click here!
You put some effort in your post. I like it. The whole cryptomarket gets flooded with icos currently, lets see how this goes..
I am always trying to give my best. Sometimes I fail. This time I did not :)
Thanks for providing perspectives from two different angles about "the Dan effect" ;-) Learning as much as you can about Dantheman might give you a good idea about what to expect from his baby to be born EOS. I'm not an investor but I have heard the best of them invest in people - not in products. Learn how he operates and you will have a much better idea about what to expect I suggest ;-)
I know what you suggest but I disagree.
Disagreements are often the path to new insights ;-)
Nice read. Thank you guys. However i read a lot fo things i like but what i'm missing is the Quantum security. As far as i know only IOTA has quantum protection. Am i missing something here or is this also one that will not be future proof when the quantum computers will be released?
I'm pretty sure EOS will give Steem and BTS attention. I think ot already did a lot to BTS, and to some degree to Steem on the exchanges. No matter if EOS goes with ETH, BTS went sky high. That may have to do with the Dan being part of BTS, Steem and now EOS. If that is all hype? I don't know, I dont know Dan at all, so I cant say. How EOS plans to float their coins, that is a cleaver schema to rid the hype and maximise revenues/income on the coin floating; That to me sounds like grabbing while the still have to proof what they claim. Time will tell.
Hi,
By doing a long sale split into windows they will sell at market value. Whatever the market considers the correct price to be. Remember that tokens sold at the end of the day will be tradable on exchanges so this will dictate the ICO price also. The hope is to avoid all the problems ICOs currently have not to grab money. A testnet will also be available during the ICO if that is bad price will be low. If testnet delivers price will be higher. There was this good post about why they chose this form of sale here: https://steemit.com/eos/@officialfuzzy/how-should-one-distribute-a-usd1-trillion-dollar-treasure
I somehow agree with you in theory. In practise they can change plans per week of batch selling. I'm not to knowledgable on Crypto ICO's, but what I see on Poloniex when pulling up the coin value charts from day one, most of them where really high up and now worth only a fraction of it. Not for the older coins, but for the newer ones. Anyway, time will tell what will happen.
EDIT:
Interesting post you shared. Option 6 is the EOS option as far as I understand what EOS intents to do. But this doesnt change what I mentioned above in this comments. Plans can be adjusted. Hypes can be powered up. Crypto is in hype, and EOS is in hype, that is double hype. Anyway as mentioned before as well, time will tell :)
Nice Post :D
And dont forget to upvote my post
Thank :)
this is a great post and solidifies my gut instincts about the positives. I'll be supporting EOS for sure.
Upvoted and followed!
I'll pick up a few coins, won't hurt 😀💪🏼🙌🏼💯
Ehhh I have faith in dan.. hes 2/2 on good projects. EOS HYPE BOY! but thanks for sharing. Im interested to see how this year long coin selling goes
im with ya
I thinks that the prpject will be huge and wish it success. Following you in order to get more updates...lets stay in touch
Very great article on EOS! A lot of people tend to jump into ICOs without doing the proper research. You have laid out specific reasons for your argument with very valid points. Never rush into anything just because other people are doing it. I'll be interested to see how it turns out!
Howdy @razvanelulmarin, great share! I'm a new blogger who just joined. I would love it if you could have a quick look at my blog and hit the follow button if my content resonates with you. Thanks!
wow - makes me feel uneducated -anyway following now and i guess knowledge will seep in - i must have been sleeping to long
EOS becomes successful, will a decentralized STEEMIT built on top of EOS replace Steemit?
Steemit and replacement... Good question. I think it'll be more like Steemit getting competition, whether that be an App build on EOS or some other blockchain. In the end, Steemit will get competition. And the question is then: Is there enough bandwidth in the market for competing services? Is Steemit leading heavy enough to be the FB of the Crypto world? Is the service that what is to expected from a Social Network? Time will tell, but I know for a fact Steemit will get competition.
for me definitely the fact that EOS will change the world.
Business finance economy - the world is changing. Who is the first - the winner
Nice post man, great insight into EOS and I sure hope it will help Steem. This article taught me a lot about EOS
I am excited by the tech and the product. I do not understand THE COMPLETE SEPARATION between the token and the product...(???). this explains it better:
so here's what i dont understand about the eos ICO:
EOS will be put out as an open source software, IF a third party chooses to put it up as a blockchain platform (as intended), they will have full power over changing the platform and choosing what token to use on it. the EOS token sold WILL NOT BE USED ON THE PLATFORM and has no use/ represents NOTHING what so ever...
I dont understand- what are we going to buy? a token that carries the name of a software developed but nothing else???
I have faith in the tech but im clueless about this...
this is straight from the terms:
Company will not configure and/or launch any public blockchain platform adopting the open source EOS.IO Software (the “EOS Platform”) for any purpose;
any launch and implementation of the EOS Platform may occur by third parties unrelated to Company;
third parties launching the EOS Platform may delete, modify or supplement the EOS.IO Software prior to, during or after launching the EOS Platform; and
Company will have no control over when, how or whether the EOS.IO Software is adopted or implemented, or how, when or whether the EOS Platform is launched.
EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES. The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform. Company does not guarantee and is not representing in any way to Buyer that the EOS Tokens have any rights, uses, purpose, attributes, functionalities or features.
NOT A PURCHASE OF EOS PLATFORM TOKENS. EOS Tokens purchased under this Agreement are not tokens on the EOS Platform. Buyer acknowledges, understands and agrees that Buyer should not expect and there is no guarantee or representation made by Company that Buyer will receive any other product, service, rights, attributes, functionalities, features or assets of any kind whatsoever, including, without limitation, any cryptographic tokens or digital assets now or in the future whether through receipt, exchange, conversion, redemption or otherwise.
Very informative post/article about EOS. Followed-Resteemed altogether :) . I am going to dive into it. (I wanted to upvote but didn't let me, saying that it is the last 12 hours for payout... (no worries, going to do it in the next one :)
Interesting post. Same mindset here. The quality coins are here to stay and it's like buying in at the S&P 500 50 years ago. Cryptos will fall and rise at a more rapit phase any investment market has ever seen. Just hold (literaly) and enjoy the ride. We really need more insights in the market and previous investment results. Do you know this interesting site? https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes. For example: https://www.coincheckup.com/coins/Eos#analysis For a complete Eos Report.