New Protocol Allows EOS dApps Teleport Tokens from Ethereum (ETH) Network This Week-ETH News

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It is safe to say that the most important contribution that Ethereum (ETH) has made since its launch is the accessibility and real-world implementation of smart contracts.

After smart contracts, we have dApps or decentralized applications. dApps are designed to allow common users freely interact with he blockchain and tackle financial issues without needing to be experienced in virtual currency. A number of smart contracts and dApps have since been launched on Ethereum (ETH) to the point that severe congestion times were observed.

This, in turn, has resulted in third-party platform development and implementation. These platforms remain connected to the network but allow more efficient operation using different methods to finalized transactions on the network. Several have been launched in recent years, including Raiden. However, EOS, have abandoned the network.

The Most Popular dApps Have Been associated with Cryptocurrency Trading and Gambling

The most common dApp are associated with cryptocurrency trading and gambling. dApps and smart contracts already operating on the Ethereum ETH) network will gain more value afternoon moving to more scalable options like EOS. To this moment there would have been a reasonable amount of work involved in porting applications to EOS.

shEOS, a firm which helps companies launch the EOS token and provides adequate infrastructure for the network. EOS has recently created EOS21 which supports the transition of ERC-20 tokens to tokens in the EOS ecosystem.

What Does This Mean for Users?

Everyday Ethereum (ETH) dApp users may not see any change immediately, but this project could result in an exodus from the Ethereum mainnet. EOS has the capability to settle transactions faster and handle a larger number of users. There are servers designed for this purpose and operated by firms like shEOS. The benefits to the common user may not be seen for some time while, for developers and companies looking to improve their Ether dApp products, the EOS21 protocol can stand in as a potential gamechanger.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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