There was a lot of hype surrounding the EOS Mainnet launch. EOS news on the months before the launch were all related to how the launch would affect the EOS network and the EOS community. What’s more, there was the question of how the launch will affect EOS competitors, Ethereum, Tron and other smart contract platforms. Some people suggest that since EOS was going to becoming faster and cheaper after the mainnet launch, it would be an Ethereum killer. Months after the EOS mainnet launch, how is EOS fairing?
Post EOS Mainnet Launch Review
The blockchain and cryptocurrency industry is evolving fast. However, there is still an obvious margin between mature projects like Ethereum and other newer projects like EOS. EOS is supposed to be an Ethereum killer, however, a lack of a large development team and user community, as well as many other loopholes on the network, have made EOS look less likely to be an Ethereum killer.
EOS Price Today – EOS / USD
Recently, a member of the EOS community was able to broadcast a fake transaction on the EOS mainnet. The transaction was for 1 trillion EOS which was equivalent to $3.6 trillion at the time it was posted. The fact that such an exploit was possible on the EOS blockchain isn’t a good idea. Following the occurrence, the block producers in New York said that the user was able to fake the transaction by deferring it. It may not seem like a big deal but it’s certainly not good news for a so-called Ethereum killer.
EOS still has some flaws, the so-called Ethereum killer is a work in progress. Even if it hasn’t kicked Ethereum out of the market post mainnet launch, it is still a strong contender. The EOS blockchain is doing well when it comes to hosting dApps. The most used dApps in the world can be found on the EOS blockchain. Apart from the games and other dApps on the EOS blockchain, there is also the vRAM, a decentralized RAM storage for videos that are more efficient than any other network.
Post EOS Mainnet Launch, Can EOS Still Be Termed An Ethereum Killer?
Has the EOS network recorded success following the mainnet launch? Yes, it has. Is this enough for it to take over the world foremost decentralized computer, no it isn’t, at least not yet. One of the reasons why this isn’t possible is that EOS has been unable to solve the most obvious problem on the Ethereum blockchain; scalability. According to the CEO of LiquidApps, Beni Hakak:
“Blockchains today don’t yet scale. EOS which has solved many issues on the transaction speed side still has resource limitations which are critical for the extensive dApp developer that is so needed for user adoption.”
A lack of scalability is one of the many issues that have been found on the EOS blockchain. Until these issues are fixed, it’s safe to say that EOS is not an Ethereum killer. Some experts say that the problem of scalability is less of a bug and more of a feature that was added to control the validator set.
On a scale of one to ten post EOS mainnet launch, with ten being the highest and one the lowest, EOS can be placed in number 5. This means that the platform has made progress but not enough progress to be an Ethereum killer. It also means that there is room for more growth as development continues on the EOS blockchain.
What do you think about EOS post EOS mainnet launch? Share your thoughts in the comment section.