EOS is a dumpster fire.
RE: Ned is Now on Space Force 1 - New Contest 1k Steem in Prizes !
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Ned is Now on Space Force 1 - New Contest 1k Steem in Prizes !
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Please can you explain this to a crypto newbie
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EOS is not a true blockchain born of POW mining distribution and it does not have much time in the wild under its belt, but it has a great developer that invented STEEM, so who really knows what the long term brings. in the short term it will not win much of the "crypto payments" market share race that is concluding over these next couple months. crypto adoption happens in consecutive stages.
BTC was first (store of value)
ETH was second (smart contracts/smart currency)
LTC/DGB are third (payments/ID)
Either anonomous coins/platforms or social network coins like steem will follow
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I'd like to add that I agree that anon coins will gain traction and perhaps marketshare as countries with weaker currencies seek to ban public coins, but any country that's able to will track such users with much more scrutiny so buyer beware. There are always zero-day exploits (security holes) or other ways to poke through privacy measures.
Also, watch out for any social networks that plan to go on ETH or any slow chains. If they plan on doing any transactions on-chain then you have to ask the big question, are they doing that because they believe it's actually the most suitable technology for their goals, or given the implications of scaling on such a network and how impossible it would be to host a large amount of users acting concurrently, are they doing so just to ride on the success of an established platform and hope to make a lot of sales at the time of the initial ICO.
Unrelated, but I see that you mentioned me in another post.
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