EOS Releases New Version, Transaction Speed May Be Exaggerated
Cryptovest
Published Jul 20, 2018 07:28AM ET
Updated Jul 20, 2018 07:41AM ET
EOS Releases New Version, Transaction Speed May Be Exaggerated
The EOS project seems to have calmed down a bit after the initial mix of hype and problems. Now, the new version 1.1.0 of EOS IO has been released, targeting chiefly usability for developers.
“In addition to release notes and documentation, the Block.one Developer Relations team — in coordination with the C++ Development team and Public Communications — will be providing an easy-to-digest summary of the features and benefits of each release and its implications on our goals for the platform,” wrote the EOS IO organization in a recent blog .
The 3,097 transactions per second at one point - inviting comparisons with VISA. However, the live streaming of transactions shows that at some point, the transaction count falls to zero, and the peak moments are extraordinary, most probably linked to airdrops.
It was during the Evripedia airdrop that EOS handled more transactions than Ethereum. However, soon after that, the EOS network returned to lower levels. The blockchain explorer tracks individual users, and the EOS network is only used by a few hundred participants, a much lower number compared to those who show interest in EOS on social media.
There are still no working apps on EOS, hence the transaction count at one point goes down to zero. Also, since the transactions in EOS are verified by only 21 entities, the higher speed is due to the partial centralization. The recent news that touted EOS as the fastest blockchain were exaggerated, EOS critics found out:
https://twitter.com/Di0nysos_/status/1020081968124432389
To compare, Bitcoin handles around 7 transactions per second, almost permanently, and Ethereum usually has 13-20 transactions per second. The VISA transaction count is much higher, due to using servers to carry tens of thousands transactions per second during the times of the greatest overload.
This means that in 24 hours, EOS handles less than 500,000 transactions in total, while Ethereum managed to increase the transaction count to 700,000 transactions in 24 hours.
!EOS!
The price of EOS has stalled again below $9, though not touching the lows of $5 that were predicted after the launch. More than 41% of EOS trading happens against Tether (USDT), which has helped preserve liquidity and prop up prices. However, EOS is 30% down in the past month, based on its BTC price, sliding to 100,000 Satoshi.
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