EOS: Ethereum Killer or Hype Beast? | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
EOS first mustered attention in the crypto space when they claimed they could process nearly 4,000 transactions per second, which would eventually scale up millions. Moreover, it was the third network set up by Dan Larimer, who has developed a reputation for launching initial coin offerings (ICOs) and moving on to another project with his newfound wealth. Using Flipside’s analysis on The Street, September 17, 2019, BTCManager digs deeper into EOS’ fundamental value.
Usage and Competition
EOS had a year-long ICO where they managed to raise a whopping $4 billion. No single coin offering comes close to this, especially because a large portion of this was raised from retail investors.
To add to this, a second layer product targeting EOS scalability, LiquidApps, also had a one-year ICO from which they only raised $2.8 million.
But leaving financials aside, EOS has been able to garner a fairly decent-sized user base. However, developer activity on the network has gone down over the past year, potentially signaling that the ecosystem could be slowing down in terms of new dApps and innovations.
Ethereum has built itself a strong moat, using developer loyalty as a strong competitive advantage for advancing the platform. No other smart contract platform currently rivals Ethereum in terms of development, diversity, and financial activity.
EOS has long been touted as the Ethereum killer, but they now have to deal with a new competitor in Hedera Hashgraph.