EOS still leaves a question: was it all worth $4 Billion?

EOS still leaves a question: was it all worth $4 Billion?

Huobi received 8,000 BTC from the unknown whale, EOS is up and running and Ethereum developers are worried about losing the race.

One of the biggest Bitcoin whales transferred a part of his funds onto Huobi

This unknown whale still has 86,000 Bitcoins stored on one address, and additional 8,000 Bitcoins that he may sell on exchange.

As we see a downtrend continuation, many questions arise in relation to manipulation by whales. First it was the trustee of Mt.Gox dumping Bitcoins on free market instead of selling them off the market and not harming the price. Now we have this whale. But the truth is that whales always end up with more assets that they accumulate after dumping their initial holdings.

The scheme is pretty simple: market sell all your funds in one chunk, trigger the avalanche of stop losses and liquidations and start buying much lower, then let the price grow and repeat. Familiar, isn't it?

EOS was finally launched on June 10

There were some difficulties related with a complete lack of tools for voting, which were crucial for selecting block producers. Now the blockchain is up and running.

Looks like $4 Billion wasn't enough to develop anything decent, or at least to hire someone who would make a launch strategy. Everything is done very unprofessionally, there were no tools to vote for candidates for block producers, except one command-line tool that had to be compiled to use it.

Again, EOS team raised $4 Billion, that's more than enough to develop 10 similar blockchain, is the user-friendly voting tool too much to ask for? Also, the network validated by 21 block producers remains pretty much centralized, and centralized network is pretty much inferior compared to a decentralized one. Ethereum evaded the implementation of a DPoS system for a reason.

But now what's done is done. The product has been released, so no one can call it a scam. The money were collected and won't be returned. But the quality of the product still leaves a question: was it all worth $4 Billion? Time will tell.

A hint by Ethereum developer: Ethereum may skip the stage of Casper FFG

It should have been some sort of a bridge between PoW and PoS versions of Ethereum, but now it seems unnecessary, and it could move on to sharding in a few months.

After all that EOS hype, Ethereum developers act like they are really worried about losing the race. Yes, they have the first mover advantage, but it's been 4 years, and Ethereum still doesn't have a working scaling solution. But the team might be very close to it. No wonder that after the launch of EOS mainnet they have decided it's time to rush things.

EOS team has the insane amount of money that they can use to fund developers of DAPPs on their blockchain, and gaining interest of developers and having actual working decentralized applications on your blockchain means everything in this competition. Now Ethereum has the biggest community of developers, but can't offer them a decent transactions speed for running their apps. After switching to PoS with sharding Ethereum will scale up to 1500 tx per second.

Don't forget about Plasma coming soon in Q3 or Q4. What advantage does EOS have now over ETH? Speed. But what happens with EOS if ETH scales successfully, thus developers will have to choose from two blockchains with the same speed of transactions but one of them will be centralized? The answer is obvious.


135.65 USD -0.82%
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Volume, 24h
1,041,928,069 USD
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