After a yearlong ICO that raised a record-breaking $4 billion, the EOSIO of Block.one has officially been released. The project has a lot of anticipations and speculations around it. Developers can now develop blockchain-based apps on the platform.
Nevertheless, the launch of version 1.0 could be a crucial moment for the project which has promised to be able to get rid of user fees and process millions of transactions in one second in its technical white paper.
From Beta Phase to Launch
Like a lot of blockchain projects, the white paper promises a very pretty picture, but the end result is what really matters. The yearlong Initial Coin Offering provided a huge amount of money for the project and some beta version of the EOSIO project have been launched during that time, under the project name “Dawn.”
According to the Github page of EOS, there are 620 issues that still need to be fixed in the project, while more than 1400 issues have been fixed during the development phase. However, EOSIO v1.0 has been rolled out officially and there is sure to be a lot of feedback immediately more developers begin to use the platform.
The New Rival of Ethereum
EOSIO will be watched closely for the next couple of months as it offers a new blockchain platform for the creation of decentralized applications – which is directly competing with Ethereum. If the token swap of EOS goes according to plan, the ecosystem of EOSIO should start to operate as planned. This could indicate the arrival of the next big smart contract decentralized app platform.
The CTO of EOS, Daniel Larimer, and the founder of Ethereum, Vitalik Buterin, have had some philosophical debate on both Reddit and Steemit about the pros and cons of Delegated Proof of Stake and Proof of Stake. They both gave their opinions on what they think about the protocols.