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EOS Explained! (Ethereum Developer's Review)

EOS defined, merely! Dan Larimer’s brainchild, EOS, is one other one of many fundamental rivals for Ethereum on this market. Understanding EOS cryptocurrency and its software within the decentralized software area is tremendous essential! In this video, I break down the idea of Delegated Proof of Stake in EOS, the utilization of CPU, Network and RAM within the EOS ecosystem, and clarify my preliminary ideas on the EOS blockchain general.There is a lot extra to return on this matter and I’ve one other video coming quickly!

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Within the EOS platform, Ethereum builders can expertise a complete new manner of doing issues. After the EOS ICO that earned large sums of cash, and Dan Larimer’s proof of stake consensus mechanism got here to gentle, EOS has been touted as an Ethereum killer. Is it? We shall see in regards to the EOS blockchain.

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54 Comments

  1. I hope I'm understanding this correctly so bare with me, but developer=CEO, 21 delegated stakeholders=board of directors, stakeholders=shareholders, token staking=hedging? analogous? oversimplified?

  2. I have there is a project called. DEXON

    As a DApp developer, you don’t need to give out things that you have learned while building DApps. Ex: solidity, Web3 and truffle and etherscan.

    But it’s latency is 2s and it’s TPS could reach 10,000. It sounds too good to be true

  3. I downloaded an EOS mobile wallet and tried it back in August 2018. A week later I exchanged every other crypto I had to EOS. no more waiting for confirmations, etc. Note, I've played casino extensively on EOS, and I can say; you don't really much "network" I could transact non stop for hours with just 0.5 EOS staked for network, but for CPU I had 120 EOS staked.

  4. Your clear for a tech guy explaining complex tech and fair. Well done 🙂 I am curious about where the EOS that is destroyed in the RAM usage goes. Does it get burnt and offset inflation?

  5. Several things incorrect: (1) you're not expected to lock coins in order to vote, you vote to protect the coins you locked to use the network. other incentives to lock coins like the REX and rebates incoming, but Dan never designs it where producers are expected to pay for votes and encourages inflation be cut if they are overpaid (2) more votes != better rewards, you got this wrong, Dan's dpos is pareto breaking meaning top 21 get paid SAME amount and have same weight on purpose, but if they are fired, they lose almost all income. that's something at stake. (3) you can get back any ram you use, it's your ram, other people can't force you to use it, and you can sell it back to network, it's a literal cap on state stored for the blockchain which happens to be in literal RAM . you don't stake ram, you just buy RAM or sell RAM, that's it.

  6. damn dude, what a deepdive, such a nice explanation daaamn. you are the only youtuber that actually knows his shit this is so nice to understand what each coin brings to the table in such a nice detail

  7. EOS. Not selling, all tokens staked, development on EOS is going on in so many different & unexpected avenues.
    Airdrops, Sister & Side chains, WORBL, Telos, REX, it just goes on & on.
    Founding EOS Genesis token holders will become revered over time

  8. EOS now has a referendum system that is live. We are now a true democracy where all 1000000000 votes are counted exactly. What other Block Chain offers this? Shouldn’t they all?

  9. Some facts about eos (feel free to add or correct me if i am wrong on something):
    – NO FEES and INSTANT transactions (try gaming sites…youll be amased)
    – VC founds investing 100s of millions (Novogratz Galaxy digital 325 Million, $100m FinLab AG and BlockOne VC Fund, $50m SVK Crypto and B1 fund, $50m Tomorrow Blockchain opportunities fund, …___).
    – $1bn BlockOne commitment to fund Dapps in the Eco system (EOS VC Initiative)
    – $200m VC fund with Blockchain veterans Michael Cao and Winnie Liu, which will make strategic investments in Asia-focused projects utilizing EOSIO
    – Bitmain's Jihan Wu investing heavy in BlockOne
    – PayPal’s Peter Thiel investing heavy in BlockOne
    – Rob Jesudason, the Chief Financial Officer (CFO) of Australia’s Commonwealth Bank (CBA), has left the bank to join BlockOne as chief operating officer
    – Tomorrow Ventures, a venture capital linked to former Alphabet Inc chairman Eric Schmidt, is also involved.
    – sister chains launching (Worbly, Telos, Eosforce, Boid, Evolution, Eoseurope, BOS,..) They will eventually have inter-Blockchain communication (IBC) which will be a revolution in speed and usability.
    – Activision (call of duty, angry birds) and Mythical games giants already building on eos. Mythical Games $16m founded by VC's.
    – China government rated EOS number 1 crypto many times.
    – Weiss Rating rated EOS number 1 crypto
    – blocktivity shows – 45 million trx per day, more than all other crypto combined and multiplied many times – in just 7 months (In comparison Ethereum average 600k and Bitcoin average 500k)
    – 17.000 trx pre pecond on testnet, beating every other project many times over
    – Wickipedia founder launched Everypedia on EOS, growing fast and thinking on launching their own eos sister chain
    – DappRadar – most used dapps of all other crypto in 7 months
    – Second in number of developers, behind ethereum (not for long as they are moving to eos)
    – free Airdrops and Airgrabs, worth 1/3 of the EOStokens in just 7 months and coming more and more frequent
    – Bancor launched a decentralised exchange where you can trade ETH, ERC20, EOS and all EOS airdrops directly beetween them, without fees
    – many DEX exchanges where you can trade EOS airdrops directly from/to your EOS account – no need to send them anywhere!! (jeah, really!) Eos is growing a brand new internal blockchain market of its own. Many tokens atm are only tradable in EOS.
    – introducing EOSBTC, EOSETH and EOSUSDT..that act like eth, btc and usdt stable coins, but on eos's blockchain speed
    – Ledger Nano S integration, where you can set up Ledger to be your active or owner key… and so protecting your eos account even if someone steals your Ledger. A revolution in crypto security.
    – 4,8 BILLION US DOLLARS warchest in CASH
    – EOS's development funding is the only crypto that is not effected by the bear market – BlockOne is the only one out there hireing lots of developers in a bear market when others are laying them off.
    – Many Dapps migrating from ETH to EOS (Sense coin, havven, texico, medipedia, sentinel, Eos Dice bet,…). Even one of the only two dapps developing on cardano just moved to eos (sp8do), publicly exposing cardano as too complicated to build on.
    – incredibly scalable (every future issue can be fixed easily without a fork)
    – FORTH crypto in trading volume in a BEAR market (only behind BTC, ETH and USDT)
    – multiple exchanges adding EOS trading pairs regularly
    – Blockchain with human readable names, makes transferes as easy as possible
    – Blockchain with top security, the first one with the so called 'owner' and 'active' key pairs.
    – one of the strongest and largest community there is. EOS reddit, EOS telegram, a huge amount of sub communities too like for Block Producers, Developers, Designers, people who just talk price action… Even the individual block producers have their own communities.
    – Virginia Tech – the tech school where Dan Larimer is teaching young troops on eos and blockchain…wait till they come out of there…
    – Chintai lending, where you can lent your eos resources for profit, today.
    – Huobi just launched a new exclusively EOS based exchange, where voting and other things will be possible.
    – Just out – referendum voting, the ultimate decentralisation. Power to the token hodlers.
    – EVA, the Uber competition dapp built on EOS just got an official operating permit in Quebec

    And all that in just 7 months!

    Still to come (and consequently rise the price):
    – REX renting (voting incentive, CPU congestion solving)
    – Block One wallet (with all the goodies in one secure place)
    – Trezor and other hard wallets implementation
    – banking on eos (yes, they are opening their own bank where the costumers will be the owners, it is called The Good Bank)
    – facebook on eos,
    – identitiy on eos,
    – genome on eos
    – financial markets on eos,
    – last but not least – Dan Larimer thinking of a Bitcoin on stereoids on the eos chain (so called Shower coin, that made the competition shit in their pants according to the "Dan is leaving" FUD they are still desperately trying to spread)

    Challenges for to be solved shortly:
    – Constitution and ECAF (will be solved with referendum) – many other projects like Tron have constitutions.
    – Vote buying (will be solved with referendum) – Tron is actually BASED on vote buying. (disclaimer – i have tron too). Some very good solutions presented by EOSforce sister chain.
    – CPU issues – to be solved in february by Bancor/LiquidEOS

    These challanges (with the bear market) are keeping the price low. When solved, many will wish they dug deeper in eos earlier. As all the venture capital did.

    …in just 7 months

  10. Great and simple review without hate or bias. But to be fair it feels like anything thats not PoW sounds revolutionary and will be the ethereum killer. Once ethereum transitions from PoW then things will look much better.
    As for EOS, right now it looks like the word "decentralized" cant even go near that project, with only 21 block producers who control the network as a central authority and EOS being able to simply roll back transactions and remove your funds if they are unused, it just looks like a bank, something with centralized power.
    There are PoS projects that allow tokens to remain in your wallet and be used while still having voting power on the network for a node, and anybody can become a node and get people to vote for them so that the tokens are used while still being available and the network becomes really decentralized. If EOS is working to make it decentralized, doesnt look like it is their priority.
    Also the fact that they raised such an enormous capital puts pressure on them because they shouldnt have any excuses to make such big mistakes like vulnerabilities on launch, many lesser projects run smoother and with much less money available to them.

  11. I love that you take a positive approach. ETH has paved the way for the likes of EOS and TRX. We are all in this together. Meaning the people that see the value of crypto. We all need to stop arguing and speaking the truth just like you are doing here. By the way I did a study on the transactions the ETH, EOS and TRX currently are running. https://www.reddit.com/r/eos/comments/ahvsvw/why_transaction_count_matters_and_why_the_market/ It's interesting to watch how these different projects are being used.

  12. Another great video. I'm personally intrigued and invested in many smart contract platforms (ETH, EOS, Cardano, ICON, TEZOS, NEO) because I believe this type of technology will thrive in the future. Unfortunately, I have not put much effort or finances into TRON although your video has me thinking I should take a look further into the project. Keep up the great work, and my only suggestions for future videos would be on NEO, and Tezos and possibly companies like THEKEY (TKY) on identity projects. I have the least confidence in Tezos out of all the smart contract platforms I've vested my time and money into but who knows what time will tell. Keep up the hard work making these videos the community appreciates it.

  13. Super fair and refreshing to get a non eos dev's perspective. 3 main things they are currently working on to adress some of the issues.

    1. Changing from 1 token 30 votes to 1 token 1 vote to prevent bps from voting for each other and forming cartels.

    2. Rex. Resource exchange. You are required to vote to participate, increasing turn out, you rent your tokens to devs making it much easier for daps to build their use case before having to acquire the required resources (passive rental income) and you get allocated eos from name bidding and ram trading fees. It Reduces incentives for voters to go with vote buying producers and massively incentivizes community participation. Very exciting.

    3. Referndum portal. Allowing stakeholders to post changes to on chain governance. And allowing the community to vote on them. Revolutionary governance model

  14. Good review on EOS 👍🏼 honestly though, I feel like you had nicer things to say about Cardano. So as a dev, what would make you jump ship from ETH to another dapp platform like cardano or EOS? What’s the tipping point?

  15. How long does a copyright last on newspaper articles?. . If a service copies newspapers articles and then posts it in a database on the Internet, is there also a copyright on the Internet content?.

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