Why We Need Something Like EOS?

It's hard to say if the extreme speed of the development is something specifically for the blockchain technology or it's just a sign of the time we live in. What is not hard to tell is that blockchain develops much faster than the previous groundbreaking technologies that shaped modern life. The Internet was incepted decades ago, became a regular part of the life of some people in 90s, but only in 00s, it became fast and accessible enough to change the lives of millions of people around the world. Artificial intelligence is progressing for decades, and its impact on our lives is still not always obvious. "Modern" blockchain appeared only ten years ago and already became quite obsolete. For several years people are looking for solutions to drastically improve the blockchain technology while many developers implement this innovation to new projects, and big companies and small startups are trying to benefit on the blockchain, and make our lives easier. The competition between the business companies stimulates the incredibly fast development of the blockchain. Each year can change everything. Or probably the changes already happened?

Genesis (Bitcoin)

The Bitcoin network that showed that cryptocurrencies can be something real and popular was built to be anonymous, secure, and independent from the middlemen. It seems that Satoshi Nakamoto had no plans that Bitcoin will become this big one day. The very architecture of this network is an obstacle for a high number of transactions per second. Yes, there are speculations about the Lightning Network, but the years go by and still no flashes of lightning were seen. Probably Satoshi didn't think that Bitcoin will replace fiat and will ever have such a great following. It's more likely that he created this protocol for a dedicated community of crypto enthusiasts. As usual, the History stepped in and ruined all the plans. Now new people are doing their best to get along with History.

Revelation (EOS)

Probably it's fair to say that in 2018 many eyes turned to the problem of scaling although the issue was quite well known and there already were some shy steps towards the solution earlier. Some developers came to the conclusion that the basic principles of the Bitcoin such as a need for peer-to-peer nodes and the verification of every single transaction made by the entire network are time-consuming and not necessary. The new solutions have followed.

Lisk and EOS came up with the idea of decreasing the number of nodes validating the network transactions. The solution provided by EOS is both technological and psychological. The network provides a great bandwidth and tremendous scalability, but the transactions are verified only by 21 nodes (known as Block Producers). These BPs get a high reward for their actions, they are well-known, international, and have a lot to lose. EOS has a long long list of BP candidates topped with those 21 Block Producers which are re-elected each several seconds by the votes of the EOS community. If you want to stay on the top you should please the community, and that's the only way you can keep on producing blocks and having rewards. The greed for power and resources secure the network as good as infamous eco-hostile Proof-of-work. This system is good both for the environment and for people who can enjoy the speed of the network.

Amen (banks, it was nice to see you)

The fiat money (or debt money) system is centralized and your local currency is nothing but the avatar of the global fiat money controlled by banks which have ties with the governments. Probably you own this money, but this ownership is always mutual. Cryptocurrencies are something different. People really can exchange crypto assets leaving no traces. Even via the radio waves! Bitcoin was going to hide the users’ data, while the EOS Block Producers are public. The concept is quite different. Is there a risk that these Block Producers can be controlled by the banks/governments? Not today. The idea of the only legal and real monetary system is going away, and don't forget that if the Block Producer starts to act against the community he/she gets replaced in the next election (10 seconds after the malicious activity so you won't have to wait 4 years or promote the impeachment.)

Preach (Why EOS?)

EOS is fast, it provides the unique options that allow recovering the lost/stolen coins (easily), it has its own blockchain supporting all kinds of smart contracts and DApps + this blockchain is developer-friendly (that's something that can't be said about Ethereum), the EOS fees are not significant and the inflation system is transparent (yes, EOS is that innovational that they have made inflation great again), and the most exciting this about EOS is its' virtual computing power and hard drive space storage. This feature works fine and provides people with new opportunities that were unavailable due to hardware limitations.

EOS is the highest performance for the lowest price. Isn't it good? At times the EOS blockchain is considered as "the Ethereum killer". That's not true. EOS is here to increase the diversity of the possible digital assets, and provide more opportunities for people seeking for blockchain solutions. The entire idea of the blockchain projects is independence, and independence is impossible without true diversity. So those who still rely on PoW can stick with Ethereum, while people who value the comfort of use and wide functionality can opt to stay with EOS. Of course, we need EOS, both as one of many good options and as one of the best options, too.