There’s Never a Dull Day in EOS Land

The EOS soap opera has made for compelling viewing in recent weeks. The level of funds and hype meant a launch was not going to be possible. Satoshi the world unaware and appears to have launched bitcoin alone. EOS, on the other hand, alerted the other half and has launched following a year-long $ 4 billion raise, having half of the crypto communityvegas casino accepting bitcoin bitcoin casino free btc most recent issue was a bug which caused block production to stop over the weekend, forcing a conference call between Block and bitcoin video casino, EOS’ programmers, and the 21 block manufacturers tasked with running the community. The cause of the problem seems to have been an error in the latest obliging EOS to resort to an earlier version of the code. This raises the question of how much testing has been done on new code; it looks like is issuing updates which haven’t been thoroughly tested, forcing them to fix problems as they happen on the mainnet.

Features, Bugs, and Anomalies

Bugs should be expected when an entirely new blockchain starts while unfortunate, and ethereum and bitcoin weren’t without their issues from the early days either. But there are troublesome aspects of EOS whose existence is more difficult to explain, and which are there by design. There’s the quantity of tokens that must be staked by programmers, for instance, so as to run EOS dapps. The amount ranges according to the amount of network resources the dapp requires. Had Crypto Kitties been operating at the height of their dapp’s popularity on EOS, it has been suggested that the quantity could have ran into the millions of dollars.

And then there is the complexity of producing an EOS wallet. For obtaining the assistance of an present account-holder creating an account calls1xbit review It’s impossible for any newcomer to join the EOS ecosystem. In time, EOS dapps should make account creation easier, but until then, more like a closed system operate, with participants reliant on EOS holders’ support to get the ball rolling.

Attaining the 15 percent quorum of votes to start the network been shown to be a sticking point. Token holders were required to vote by means of a process that included entering their keys. Due to the possibility of being tricked by fake EOS dapps, most token holders decided not to vote, leaving the procedure stuck for days at below the threshold.

EOS Oddities Have Failed to Dampen Market Enthusiasm

Despite glitches, of the drama, and oddities of EOS, the market has remained bullish on the blockchain of Dan Larimer. With so many token holders invested in the project, the community is ready EOS to succeed no matter what, and no amount of negativity — as the acronym goes, or FUD — will be allowed to prevail. Even when a bug was discovered in EOS prior to launch, followed by the hasty creation of a bounty program and the discovery of more bugs, the market shrugged off the issues.

The enthusiasm for all things EOS can partly be attributed to the demand for a rapid and scalable blockchain. The system’s most ardent supporters will concede that EOS isn’t perfect, but given the choices — a sluggish ethereum and a couple of untested and fresh blockchains — there seems little choice but to pray can prevail. With each play, the pro and anti EOS brigades become more firmly entrenched in their positions. No blockchain in cryptocurrency’s background has turned out to be so polarizing. Whatever the future holds for EOS, it will not be dull.

Do you believe EOS can shrug off these early setbacks and overtake ethereum as the number one blockchain for dapps?  Let us know in the comments section below.

Images courtesy of Shutterstock, and Twitter.

Need to calculate your bitcoin holdings? Check our tools department.