Post
Topic
Board Altcoin Discussion
Re: EOS - Asynchronous Smart Contract Platform - (Dan Larimer of Bitshares/Steem)
by
astralliam
on 04/12/2018, 10:04:56 UTC
I think Tech wise it's very interesting. Very high transaction rates, much more decentralised that centralised systems. "converging on decentralisation" as a route to adoption and uses way way less power than POW. A "blockchain", you can use at scale for real-ish stuff (like gaming?...)

HOWEVER if it takes off, there is the scary danger it become, as @fractalUniverse called it FED 2.0.

The biggest problem I see is centralisation of the token distribution. A few whales dominate the voting for BPs. Vote buying is already happening so there's already corrupution, in a system that provides trust through the unquestionable integrity of the block producers...

Telos is interesting in that they capped the snapshot at 40,000 tokens on their chain. Personally I think that was too high and they really should have implemented a logarithimic function rather than a cap to give the big whale investors something for all the money they gave block.one.

The big problem is identity. The WORBLI chain is tackling that using KYC approaches. Most people seem to imagine there is a magic identity solution around the corner that will make EOS great again... get you URI handouts here folks... except I'm really skeptical there is any such solution anytime soon.