EOS has its ICO ongoing and many people are drawn to it on the basis that it is the first operating system for the Blockchain. However, in recent weeks, several platforms have gained prominence by displaying facets of the selling points attributed to EOS.
Here is a rundown of the probable competition:
Lightning Network and Lightning Speed
The speed of transaction promised by EOS Blockchain is in the range of millions of transactions per second. However, with the innovative lightning network, EOS just got a unique selling point combatant in the front row.
Lightning Network was recently given the nod by Microsoft execs as capable of supporting a global adoption of the Blockchain on the basis of its robust platform that is optimized for millions of transactions per second. The nod by the tech behemoth means that the world is sure to heave a sigh of relief as more mainstream entities vote for the survival of the Blockchain and cryptocurrencies.
Lightning Network is reputed to utilize smart contracts to process transactions off-chain so that energy associated with mining is saved. In the same vein, transactions between two entities are processed off-line using the smart contract feature so that it is reported on the Blockchain as an individual entry. This reduces the data uploaded to the Blockchain, saving processing time, computational usage, and storage.
While many people might wonder if the trail of transactions off- the- chain can be queried, there is a safeguard already as smart contracts provide opening and closing balances for reconciliation purposes.
Vitalik Buterin has had disagreements in the past with Dan Larimer with regards to technicalities and feasibility of their respective Blockchain innovations. However, this sparring does not appear to end yet as the Ethereum founder was reported to have left his job in China last week to focus more on optimizing Ethereum.
What will come next for Ethereum? It currently is the preferred platform for countless ICOs that are issued daily around the world. If it is re-jigged to provide a level playing field for all users as against the priority given to bulk token holders presently, it would have succeeded in knocking off another unique selling point of EOS: equal access to the Blockchain irrespective of token ownership or volume held.
The NEO Frontier
The NEO frontier is another space to watch as the platform is dedicated to the monetization of digital assets. The NEO platform makes it possible for asset owners to digitize and make money from their assets by using smart contracts.
As a one-stop shop for digital assets and digital identity management, its capacity for hosting apps has been boosted with updates to the network. NEO is now vaunted to be a bulwark of decentralized operations, and can as well contend for the crown of the kingpin of decentralized exchanges, apps, and processes with EOS.
What the Investor Must Do
It is still early days yet, and the market for cryptocurrencies is proving to be resilient with the support offered by US lawmakers recently. The nudge by mainstream payers like Goldman Sachs, Stripe, Western Union and others, is helping to unveil the silver lining ahead.
The investor has to watch the unfolding events and put the money where their mouth is as far as cryptos are concerned. Bitcoin and Ethereum seem sure to reinvent, and this means that it is too early to sound the death knell for these wonder coins.