EOS Becoming the Preferred Platform
spent much time at the helm of the d’App space. The main reason for its dominance was the lack of any real competition. Once entered the protocol space, ’s drawbacks were quickly highlighted, and d’Apps migrated.
Most of the d’App developers are entering into a market that has a slow growth rate. As highlighted by , the number of d’Apps has been increasing significantly whereas usage of the d’Apps has not been as promising. While entering into the market, developers would want to spend as little as possible to keep their platforms running until mass of finally takes place.
When came into the market, they had transaction fees that were lucrative to developers. The transaction fees charged on were significantly lower than what was being charged over at . In some instances, the charges were close to non-existent. only required their platform participants to hold a set number of to carry out transactions. The low transaction fees attracted new developers and based d’App developers to jump ship.
For developers and end-users, is much-needed heaven due to its freedom in terms of cost. There are many costs that can charge over d’Apps without developers having any say. The charges attracted on are as a result of the need to pay miners because of the computational power to provide the protocol with.
’s requirements are friendly to both the developers and the end users. Further, with , it is the developers that determine how much end users need to have or pay to receive certain products and services.
’s services had also been in question for quite some time. The infamous CryptoKitties debacle as highlighted by gave the industry a glimpse of what would happen in case mass of was to be done. ’s services became painfully slow as the protocol struggled to meet the demand created by CryptoKitties.
entered the protocol space with new and improved technology. came in with enough processing power to meet the demands of running multiple d’Apps each with unique uses. To put this into perspective, it takes the protocol an average of 13 seconds to respond to a request whereas takes less than a second to react to the same request.
There are other convenience factors on the platform that is likely to attract more participants. These include:
- The use of C++ and programming languages on the EOS platform which are understood and used widely by developers compared to Solidity which is understood by a limited number of developers.
- Smart contracts on the EOS platform can be updated without causing the EOS network to fork.
- Has the ability to handle enterprise-level software.
- EOS provides the convenience of resetting a private or an owner key when lost or compromised.
These factors make a more preferred platform over , for many in the community.
Voting System Governance Model
The protocol has a governance model that is functional compared to the governance model on the protocol. Governance models are essential as they determine the nature in which changes will be made and effected.
On the platform, the governance model was ignored. However, the voting system governance model on is fully operational. Changes on the platform can be effected through voting by eligible members.
Struggling to Change
is behind the changes and implementations that have already been made by its competitors such as . It will take a while before catches up to industry standards which are being redefined by new, innovative players in the protocol scene.
However, also has its setbacks especially on issues surrounding decentralization and potential bribery. No platform is ever truly perfect.
With this in mind, it is crucial that every developer weighs out their options before settling on a protocol. However, in most cases, it would not even be a competition as has the upper hand over . With better speeds, transaction fees, and services, stands tall as arguably the best protocol yet.
More Desired Platform
has been testing out its on the INSTAREOS platform. It’s beta phase will soon come to an end as Insights Network migrates fully from to their own using the Open Source Software. This will come with the advantages stated above.
Insights Network is known to keep up with the latest in technology, and this move justifies its reputation. A freeze date for the INSTAR ERC-20 compliant is set for May 23rd, 2019. Users are advised to prepare adequately before then. A guideline on how to convert ERC-20 INSTAR can be found .
For other platforms that may be planning or thinking about migrating from to , Insights Network will be using an open source for their migration which they plan to leave open for any platform to utilize when migrating.
To learn more about the INSTAR migration, please use the following links:
For further information on the Insights Network, please use the following links:
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Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advice in any situation. Please remember to DYOR before making any decisions.
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Published at Fri, 26 Apr 2019 14:14:41 +0000