The cost of developing a dApp on EOS invariably depends on three main factors – resource Type, resource usage, and resource allocation. The types of resources an account consume among RAM, Network or CPU grossly influences the cost. Depending on the usage of a resource and its allocation the cost to build a dApp on EOS varies.
EOS dApps Use Cases
The blockchain community has adopted EOS enthusiastically. Numerous applications have already been built on the platform. Let’s discuss some:
1. Ubuntu Energy Ledger
Ubuntu Energy Ledger is built on the EOS blockchain and is a clean energy marketplace.By 2030, the application aims to provide Africa with cost-effective renewable energy and power 4 billion households.
2. All_ebt Food Stamps
All_ebt issues an EBT virtual card built on the EOS blockchain platform, which aims to help low-income communities solve problems around financial inclusion and access to healthy food.
3. DACTROIT
Codenamed ‘DACTROIT’, is a decentralised autonomous community (DAC) that enables communities with the tools to own and operate a complementary currency and high-speed internet access.
Future Scope of EOS
EOS seems to have some potential in the future, but it is still quite early to say. It has come up with some very bold claims and the technology needed for their implementation may detract users.
EOS in the News
1. Governance Issues
EOS lacks an effective governance process. In June 2019, Brock Pierce, an early member of the Block. One team, suggested that EOS is now governed by a “Chinese oligarchy.” Although it is true that a majority of the block producers are based in China, the concern has more to do with the risks that centralization poses. There is a major complaint about the current block producers: they do not build new DApps that will attract other users to the blockchain.
2. Bullish Global
In May 2021, the EOS price climbed 50% after the news that Block.one had created a subsidiary called Bullish Global. (The price fell just as sharply toward the end of the month.)4 Bullish Global intends to create a new blockchain-based cryptocurrency exchange.
EOS Crypto FAQs
Q1. What Does EOS mean?
EOS stands for Electro-Optical System. It is a decentralised operating system based on blockchain technology.
Q2. What Is the objective of EOS?
The EOS system was designed to support dApps, on a commercial scale and provide core functionality for businesses to build blockchain applications in a way that is similar to building web apps.
Conclusion
In this article, we learnt what EOS is, understood its ecosystem and discussed EOS governance. We also learnt how EOS is different and what is its purpose.
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