LONDON (Bywire News) - The crypto market is always on the move and looking out for the next big thing which can break down barriers and take the ecosystem forward. Many people are starting to think that EOS, and the new Antelope rebrand, could be that big thing.
EOS burst onto the scene on the back of B1’s world record $4bn ICO in 2018. At the time, it was billed as a next-generation ecosystem offering smart contract integration and a faster, more seamless, way to develop decentralized applications.
It was designed to allow configuring and the creation of valuable architecture through deploying private and public permissioned or permissionless blockchain infrastructures. Since EOS is open source, it allows third-party developers to create and run their dApps.
EOS separates itself from competitors by eliminating transaction fees through its special structuring. On multiple occasions, there have been confirmed reports suggesting that EOS can outperform credit card facilitators like VISA in its transactions per second.
This creates the perfect environment for projects to build tools for dApp developers. These decentralised applications are designed like protocols to function across a range of decentralised networks like blockchains or tor and they rely on a set of standards to enable interoperability.
Antelope performs a similar function to Ethereum in that it acts as an operating system for these dApps, and it simplifies the programming process considerably. EOS is a jack of all trades by taking a leaf out of popular blockchain giants like; the security of $BTC, ease of programming on $ETH and scalability surpassing $XRP.
In summary, then, EOS offers the following features which make it ideal for dApp development:
- Eosio (EOS) is fast, Flexible, and forward-driven.
- Excellent leading performance and scalability in the blockchain industry.
- Configurable blockchain platform.
- Eosio (EOS) boasts strong security and high data integrity.
- High transaction speeds.
- Provision of upgradeable smart contracts built on C++.
EOS boasted full-featured authentication and allowed developers to program user accounts to give each account permission from the EOS panel. The platform also enables businesses to share database access with anyone on the network. Data can then be taken out of EOS and stored locally so it remains off-chain.
EOS tokens are different from their competition as they don’t usually have functions to perform. Instead, developers make applications by using the platform to generate the tokens needed for dApps.
Additionally, EOS prides itself on excellent governance models in that producers have a lot of control over movements on the network. Important issues like confirmed transactions of application operability are voted upon by the producers.
Currently, the EOS system covers over 100 dApps and PRA Candybox is the most active having 6 times more daily users than $ETH’s top dApp.
However, it’s not all been plain sailing for EOS. It was released on June 19th, 2018, to great fanfare after a year-long ICO. Following the launch, 1 billion tokens were then distributed as ERC-20 tokens by Block.one. The major exchanges listed EOS early on and, in April 2018, the platform launched its mainnet driving the price to $21.46.
But that, for a long time, was as good as it got. B1 failed to follow through on the initial hype. Development stalled and the token price slumped. However, last year the EOS community did something unique. They rose up and took control of the ecosystem from B1.
The arrival of the EOS Network Foundation brought much of the funding and support which was initially promised. Activity accelerated with a host of new developments which once again put EOS at the head of the field.
The rebrand of the EOSIO blockchain to Antelope is the latest. Bringing a major upgrade to the software, EOS is all the things it promised to be. It’s faster, more scalable, efficient and sustainable than the likes of ETH or BTC. It’s a next-generation blockchain tailor-made for the future.
Businesses around the world can look to create transparent digital infrastructures and EOS is the place to do so. At the same time, EOS today is backed by that strong, talented and dedicated community which originally snatched control of the blockchain away from B1. Their passion, expertise and determination have been crucial in making sure EOS would never be stifled.
(Writing by Samba Jallow, editing by Klaudia Fior and Tom Cropper)