WAX ON: What are the Pros and Cons of EOS Blockchain?

Published on June 16, 2021

Top clips relevant with Email Publishing, Business Success, and What Are Blockchains, WAX ON: What are the Pros and Cons of EOS Blockchain?.

Want to develop on WAX? Visit our Developer Hive portal https://go.wax.io/b8a5e
Our Matrix comparing WAX, Tron, EOS and ETH: https://go.wax.io/663f0

Episode 2: William Quigley discusses the pros and cons of EOS Blockchain

Check out other videos from the WAX ON series: https://go.wax.io/WAXON

Transcript:
What are the pros and cons of EOS? In other words, why was EOS even created? So EOS was created to overcome two of the most vexing problems in blockchain – transaction speed, transaction costs. These are at the heart of what prevents blockchains from reaching commercial scalability.

So how did EOS do that? Well, they created something called DPoS. DPoS delegated proof of stake, consensus mechanism. What that really is just a way for transactions to get validated quickly and correctly (can’t have any little scams going on). So it’s like what Bitcoin mining and Ethereum mining is for validating transactions on Ethereum and Bitcoin, the DPoS consensus mechanism is the way transactions get validated on EOS.

So how has it worked out? Well, I’d say a year after launch, a little bit more, really well. EOS is much faster than Ethereum, hundreds of transactions per second versus Ethereum’s 10-15. And it’s free. Yeah, there are no transaction costs on EOS and that’s critical if you’re going to build a commercially scalable and popular blockchain.

Now you do have that own EOS tokens to reserve system resources, but those tokens stay there in your wallet and don’t get used up. They’re more like holding them in escrow, so no transaction fees, I like that. Thus far, there’s been about 5,000 apps that we call dApps that have built on the EOS blockchain and that’s pretty good.

So EOS works well but does have a few drawbacks. One, you need to educate the users about something called voting and staking. Those things are a bit complicated. Well voting is you actually select which entities get to validate a transaction. It’s like if on Bitcoin you were picking who the miners would be. And then you have staking. Staking is basically tying up your tokens in some wallet, it might be the Scatter wallet, in order to get system resources.

So you can’t get them unless you stake, you also can’t vote unless you stake. And then there’s the account creation. I’ll just say here, it’s a bit wonky. It’s not easy to create an account on EOS, which isn’t great if you’re trying to grow the user base. It’s got usability issues.

One of those I just mentioned earlier is something called Scatter. While Scatter is a good first attempt, it’s a crypto wallet that you use to actually work on the blockchain, it is way too complicated for the average person to use. And that I think is a major stumbling block to making EOS popular. Now if you can fix those problems and they’re not insurmountable problems, the EOS platform would actually be pretty good.

Well, that’s why I created the WAX protocol. The WAX protocol uses this DPoS consensus mechanism and it’s a blockchain that’s been purpose-built for commercial scalability and usability.

WAX was inspired by everything I’ve learned about virtual item trading, especially video game virtual item trading where you need very, very large scale and you need to worry about things like costs and speed. At the heart of the WAX protocol is the WAX service layer. So the WAX protocol has a micro-service layer that allows dApps to easily develop and to on-board new users onto their dApps.

WAX also has the best UI for adding blockchain customers. It makes creating and managing a blockchain account as easy as installing an app on an iPhone or sending an item to somebody on a phone.

If you’re interested in learning more about the WAX protocol, we’ve created a matrix that compares WAX to a number of other blockchains, including Ethereum and EOS. You can find it at the link below. And if you want to learn more about actually building on the WAX protocol, check out the WAX Developer Hive. Also at the link below, you’ll be able to find a ton of developer resources to help you build your dApp on the WAX Blockchain. See you soon.

Let the community know what you think! Join us at:

• Twitter – https://go.wax.io/WAX-Twitter
• Telegram – https://go.wax.io/WAX-Telegram
• Reddit – https://go.wax.io/WAX-Reddit


Disclaimer

The information contained herein is for general informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speaker(s). Buying and selling cryptocurrencies poses considerable risk of loss. The speaker(s) does not guarantee any particular outcome. Past performance does not guarantee future results. You should do your own research, incorporating your own personal financial situation and risk tolerances, before making any purchase or trading decisions. The speaker(s) is not an investment advisor, broker or dealer. Your financial decisions are solely your responsibility.

What Are Blockchains

What Are Blockchains, WAX ON: What are the Pros and Cons of EOS Blockchain?.

Leading 10 Marketing Pitfalls

A Reward builds the foundation that keeps you focused on your Miracle. Sponsor a fantastic occasion or contest that will reach new prospective consumers. What are the reasons you’ve requested for refunds?

WAX ON: What are the Pros and Cons of EOS Blockchain?, Find popular videos about What Are Blockchains.

Stress Reduction Ideas For Parents

As I set my goals, I surround myself with people who are on the very same path in life that I am on. In Canada, exports are “zero-rated” sales for G.S.T. purposes. Blades with a platinum chrome surface maintain their sharpness.

You may want to consider changing it with a regularly published blog site if you presently publish an ezine. This indicates using your blog to release journal entries, and then when it comes time to communicate with your subscriber list, you excerpt some products from your blog site, and send those out as your ezine.

Typically, just behind the hairline, they notice a roundish shaped area that gets extremely thin. This rings alarm bells and those females then seek Blockchain Technology the very best treatment.

After all it’s everything about individuals selling (or recommending) products Hybrid Blockchains they UTILIZE to their own network of buddies and acquaintances. To people who TRUST them.

You won’t understand unless you try. Assume you can do * anything * – due to the fact that you can! You might not be ready to do it yet, but don’t set up mental blocks beforehand. You can create your own lucrative products, offer them well, and have others offering them for you. You can run a series of websites, even host seminars, or teach others. YOU CAN.

To begin, just send a Flirt or a quick Public Blockchains email message saying Hello– and do it typically! You may be stunned the number of of our great members struggle with absence of attention from their online peers. Not only might you find somebody with whom you’re really thinking about maintaining contact, however you’ll probably be making someone’s day.

Don’t be afraid to make the first contact. Online dating makes it simple for all you shy ones out there to start the ball rolling, since you get to do all the preliminary learning more about each other from the convenience and safety of your own computer system.

Strolling in integrity means our ideas; feelings and actions are all aligned, all in accordance all consistent (in contract). Actively and consciously preventing and holding back our ideas and feelings takes work AND can cause tension, ultimately affecting our immune system frequently putting us at threat for small and significant illness.

Do not hesitate to ask for a refund if you really feel the product was misrepresented. Educate that marketer about what you feel was incorrect. If they do not enhance, they deserve to give all their cash back. Simply do not be among those horrible people who purchases an expensive item KNOWING they are going to request for a refund. That’s the very same as stealing and is dishonest. We can’t bleed the online merchants dry if we want the convenience and satisfaction of being able to right away download what we have purchased to continue.

Do your homework first and research everything you can discover. As a web designer, safeguarding yourself from link unfaithful is very time consuming and discouraging. I merely could not believe of anything to blog about.

If you are looking best ever engaging reviews relevant with What Are Blockchains, and Ezine Queen, Pubic Hair, Dating Help please signup in newsletter for free.

  • Leave a Reply

Enjoyed this video?
"No Thanks. Please Close This Box!"
%d bloggers like this: