EOS - The Not So Hidden Gem?


About a week ago I wrote about what I think the perfect crypto platform would be. I mentioned a few projects I like that come close in some aspects. Then a few days ago I wrote about Nimiq to give more detail. Then I talked about Xaya. Next I mostly ranted about Nano. And today I'm going to discuss EOS.

EOS is actually the top rated coin on my list, it is #32 right now. I do not think any of the others are even in the top 100. Most of you have probably already heard of it also. Maybe even know more about it than I do to be honest. I cannot say why I haven't given it more of a chance. I didn't realize that the transactions on EOS were free until way after I had already discovered others like Nano, Iota, and Hive.

I really have not done my research on this one so I will probably not be ranting but also may not be as informative this time. I still want to talk about it since it made my list and seems to be a great option in the world of feeless dapps.

One of the potential negatives I've seen, which may or may not even be true, is even though it claims to be feeless, there are some blockchain conditions that can cause it to start charging a small fee on transactions. I read an article a while back that I cannot find now, but it basically said this occurs when the network is under extremely heavy loads. It also said it only happened once or twice so far and only during the heights of a couple of spam attacks. So again. Not even sure this is true, but I read it on the internets... so it has to be right? (JK, but it was enough to give me pause from looking further into the project.)

There are some definite positives to the platform though. Being such a highly popular coin means you can buy/sell/trade on most exchanges. Even Coinbase. Most savings account-like earning platforms also support it. Like Nexo. So theoretically if you set up your app or game to earn EOS somehow, you could easily also connect it to something like a Nexo account to automatically process the income to a savings account and earn up to 8% interest. Which is pretty cool. But also players/users of the game/app can easily get ahold of EOS, though still have to buy it through these exchanges. So not perfect but at least available.

Also, to get started developing, they have a pretty awesome tutorial called Elemental Battles. This really makes me want to at least give it a go before I write it off completely. Couldn't hurt to at least run through this tutorial.

EOS seems to trade for around $5-8. Which is a bit pricey but also not out of range for anyone wanting to get started. I'm not sure what the liquidity is like or if there are free ways to get some or work for it, like there is here on Hive. There does not seem to be.

EOS clearly has some kind of ecosystem. There is a lot of developer materials and already existing dapps. It makes me suspect there are some kind of smart contracts or similar in place. Though I'm not sure.... probably really showing my ignorance on this one by now.

Unlike the others, I can't give a good reason why I've written this one off. There's just something about it that I struggle to get excited about. At best it seems like it could be similar to Hive in capability, but missing the extra ability to earn the currency in activities (such as posting) and it does not seem to have Hive Engine level token/nft support. Though I may just be missing it.

If you are an EOS fan, feel free to tell me why I should give it more of a chance in the comments!