Folks who have kept an eye on the cryptocurrency ecosystem over the past few weeks would have noticed that the EOS project has turned to be of great interest. At the same time, there seems to be some uncertainty as to what makes this project and its native token relevant at its present stage. For a project claiming to be the most effective infrastructure for decentralized applications, the expectations are undoubtedly enormous. Whether or not the team can deliver on this vision in the hope is impossible to foretell right now.
A Summary of the EOS Project
For those who are oblivious to what EOS has to offer, now is an excellent time to examine this project a bit further. First and foremost, EOS places itself as the most robust infrastructure in existence for decentralized applications. Ever since Ethereum got a lot of attention, the DApps ecosystem has suddenly become a lot more familiar. There are a lot of various applications to be developed on top of blockchain technology, as we have yet to explore what this technology is accurately fitted for. With more developers focusing on the blockchain, things are bound to get a lot more interesting in the future.
How EOS will fit into all of this remains to be determined. The team is presently focused on the critical pillars of blockchain which most other cryptocurrencies seem to be grappling with right now. Scalability, for example, is very hard to come by in the world of cryptocurrency these days. There are very few currencies which have a comparatively steady network in this regard, let alone one that is future-proof. EOS wants to back thousands of commercial-scale DApps in the future, which can be said to be quite ambitious.
For such a platform to work efficiently, there will need to be parallel execution, asynchronous communication, and authentication separated from implementation. Checking all of those boxes will not be an easy task, even for the EOS team.
Furthermore, according to its whitepaper, EOS will also provide flexibility, which is something current blockchain solutions seem to be struggling with.
Finally, projects like these will stand or fall based on their usability. EOS is working on open interfaces, database schemes, and permissions schemes. Furthermore, they have a web toolkit for interface development, which will assuredly attract a lot of positive attention in the future. One has to keep in mind that all of this is still in the very primitive stages of development, and there is still plenty of work to be done before EOS can start to flex its proverbial muscles.
EOS also set an impressive model when it came to its token sale. More specifically, the team decided not to employ a predetermined price but used a market demand-based price (a smart move I must say). Presently, the value of EOS is skyrocketing, and it is unlikely that this situation will change anytime soon. Users can still buy EOS tokens as of right now, assuming they are not from the US and agree to the entire investment compliance. It is worth going over all of these aspects correctly, as there could always be some conflicting statements which can confuse.
With an ICO distribution spanning through 341 days, it is apparent that EOS is not your average project. Whether or not the team’s approach will be considered to have been a smart move is anybody’s guess. It is evident that there are a ton of tokens being bought and sold right now. If this trend keeps up, the company will sell off all of their 1 billion EOS before the distribution phase is over. With a current price of over $10.4366 per token, the company has high expectations to live up to in the future.