EOS drops on the altar: millions of TPS have not been fulfilled, "VOICE" is silent

Production / CoinVoice

Text / Linghe

What is EOS like in the blockchain world?

Many people see EOS as a representative of blockchain 3.0. In the early news reports, EOS did have this trend. Focusing on the problems of expansion of the blockchain, high transaction fees, and the unsuitability of business on the public chain, EOS technically eliminates transfer fees. Using graphene's underlying block architecture and DPOS consensus algorithm, EOS's transaction processing speed can reach Millions per second. Compared to this, Ethereum has more than 20 transactions per second, and the processing speed of Bitcoin 7 transactions per second is really stretched.

However, the speed of myth collapse is also unexpected.

On November 1, a zero-cost wool airdrop activity on the EOS public chain reached a peak of 620,000 per hour within the first two days of the transaction, which directly caused the EOS network to "crash". The so-called million TPS, Not worth mentioning in practice.

But for EOS, this scene may be commonplace. Prior to this, more issues such as inconsistent remarks by the founders, node instability, unhealthy public chain ecology, unreasonable resource design models, and sharp drop in currency prices have always been around EOS.

EOS, which once held a market value of 17 billion U.S. dollars, like most star public chains, is also falling rapidly into the altar.

Million TPS crash

After Bitcoin, the genius V God appeared with a smart contract, and ETH has become the most widely used and most used financing tool in the coin circle in 2017. EOS is like a Jedi counterattack. In the overwhelming glory of Ethereum, it claims to be able to reach one million TPS. Its purpose is to catch up with Ethereum.

From the data performance point of view, it did. On November 1, AP ’s new project “EIDOS” airdrops on EOS. This is a zero-cost woolen woolen activity. Users transfer any number of EOS to the project party ’s account, eidossonecoin, and it will be free later. Received 0.01% of EIDOS, and the same amount of EOS that was previously transferred will be returned.

The story of "airdrops set of white wolves" attracted a large number of users to participate. According to data released by HelloEOS founder Zi Cen, two days after the launch, the number of transactions in the EIDOS smart contract was about 9.17 million, with a peak of nearly 620,000 per hour. In the same period, the number of DAPP transactions with the largest 24-hour trading volume on ETH was only 4132.

EIDOS exploded, EOS crashed. Unlike Ethereum, EOS transactions do not require gas fees, but they consume certain resources. When users transfer money, they need to consume CPU computing resources (CPU). And EIDOS just relies on frequent transfers to fleece, which directly caused the CPU in the EOS network to be 100% occupied, and other DAPPs on EOS were almost disabled, and the server card burst.

This is easily reminiscent of the crypto cat that caused Ethereum's "rollover", but on Ethereum, it only needs to increase the transfer fee and still maintain the status quo of transactions. However, EOS users ca n’t transfer money normally because they do n’t have enough CPU, and EIDOS ’s originally zero-cost interest chase has evolved into a CPU computing power competition. A project that advertised the use of idle resources eventually caused the problem of resource allocation hidden within EOS.

The issue with EOS is still at the governance level.

On November 28, internal strife occurred between the nodes of EOS. Node EOS New York found that 6 EOS candidate nodes are controlled by the same group, and the registered mailboxes are all eoshenzhen@gmail.com. It is suspected that all 6 nodes are controlled by EOShenzhen nodes. According to EOS regulations, a node can only have one account. So behind this behavior, the high probability is to reward. As we all know, EOS nodes can receive rewards. Of the 6 nodes reported this time, 5 nodes receive a total of about 547 EOS rewards every day.

As the actual controller, EOShenzhen can receive a daily reward of about 12,000 yuan. This is not the first time that EOS has encountered this problem. Although EOS has repeatedly emphasized "decentralization", in fact, most of its rights are centralized.

At the same time, the ecological health defects of the EOS public chain are increasingly exposed. According to DappReview data, as of now, EOS has a total of 644 DAPPs, of which 341 are DAPPs, accounting for 52.95%. In contrast, TRON, another big gaming public chain, has a draw ratio of about 32.03%, which is lower than EOS.

In April, the proportion of EOS DAPP draws was still lower than TRON. And according to DAppTotal data, after removing the robot, 6 of the top 10 DAPPs on EOS are from the lottery category. In other words, most of EOS ’s traffic comes from gaming projects.

The concentrated outbreak of problems is reflected in the price of coins.

According to non-small data, EOS has fallen all the way since reaching a peak of $ 8.55 this year in June, and has so far hovered around $ 2.5, which is more than 70% lower than the peak. In the same period, although ETH and TRX generally fell, they were smaller than EOS and their overall performance was better than EOS. The overall trend of EOS this year is first rising and then falling. The change curve is more regular. The peak appears on June 1, while the peaks of ETH and TRX both appear at the end of June, reaching 319.09 USD and 0.0387 USD respectively. , Up to $ 12,549.63.

Although the four major currencies rebounded occasionally in the development of the second half of the year, they generally showed a downward trend. Since the peak of EOS appeared earlier in the mainstream trading currencies, it has led to a decline in the currency price of the market to a certain extent. For example, in September, the curve that had been falling before ushered in a wave of bottoming out in the middle, and most currencies reached a small peak, and then began to fall sharply. After reaching a small peak on September 19, EOS began to fall, while ETH, BTC, and TRX fell sharply on the 20th and 22nd, respectively, and BTC directly fell below the 10,000 yuan mark.

Silence "VOICE"

Just as embarrassing as the price of the coin is EOS's heavily built apps. In June 2019, a quiet press conference was held in Washington, USA. The meeting lasted only 20 minutes, but released a blockbuster product-the blockchain-based social product Voice. Earlier, EOS had warmed it up for half a year. EOS parent company Block.one even spent $ 30 million to buy the domain name "Voice.com", which shows its importance to EOS.

EOS also spared no effort to escort it. In September, the EOS mainnet was upgraded to the v1.8 version. This version modified the RAM billing method, and developers can pay RAM fees for users. Earlier, Block.one also spent 3.3 million EOS to buy RAM, all signs are indicating that "all resource costs are borne by the developer", the threshold for Voice users' use has been greatly reduced. In addition, registered users of Voice can also get EOS accounts for free. Everything is ready, just wait for Voice to go live. According to the plan, Voice will launch after upgrading to v1.8. But the fact is that this high-profile product that has been released in half a year has not yet been launched. The latest arrangement has been scheduled to launch the Beta version on Valentine's Day this year. Maybe Vioce bears the social ambitions of BB and BM to some extent, which can be seen from BB's response to netizens' questions-"There is no doubt that 30 million is a large number, but both BM and I think it is very valuable. In fact, after in-depth social education on the Internet, most users don't care about Voice's social model. On the one hand, most of these users are from the blockchain circle, and their interest in how much wool can be picked up from Voice is obviously higher than how to use it. On Twitter, most people's questions about BB also focus on questions such as "Will Voice have an early bird bonus" and "Will Voice drop?" On the other hand, the social products of the Internet giants have penetrated into every detail of life. Although people pay more attention to privacy and have an antipathy towards centralized organizations, it is still difficult to have factors that can shake in a short time. Whether or not EOS wants to admit it, relying on dreams and feelings alone, it is already difficult to shout.

Highlight moment

Since its development in 2017, EOS has gone through a process from high to low, low to high, and then low, as if it is the epitome of blockchain history. It comes with millions of "grandmons" and is regarded as a representative of Blockchain 3.0 due to mechanisms such as gas fee-free, cross-chain interaction, and independent architecture of virtual machines.

At the beginning of the story, EOS did have such an aura. In June 2017, EOS launched the first phase of crowdfunding. Unlike all previous projects, the creators designed a lot of gameplay for it. In the first phase, EOS raised 185 million funds in 5 days, and "Feng Shen" in one fell swoop.

After the end of the first phase, EOS launched the cloud coin network quickly, becoming the first token to be traded on the exchange while crowdfunding.

On the first day of launch, the price of EOS rose all the way up to 37 yuan, more than four times the crowdfunding price of 7 yuan. The violent growth of EOS has made Li Xiao come to be known as "the world's best cattle angel investor in 2017", and he even accepted EOS as a crowdfunding token for his projects Press.one and Big.one.

9.4 With the advent of regulation, cryptocurrency assets plunged, and EOS could not be avoided, and the minimum fell to 3 yuan. Compared to other projects, the EOS team extended the crowdfunding front to June of the following year. At this time is in the second stage of crowdfunding. EOS ushers in the election of super nodes. Global candidate nodes have launched a "trolling war with local tyrants." In the end, EOS successfully raised $ 4 billion and became the largest financing project in the circle.

This is the pinnacle of the development of EOS, and also the pinnacle of the "rich story".

Subsequently, the story of the bubble pile gradually disintegrated, and people began to be sober, questioning the landing and questioning the value.

Even today, although BM has been defending EOS, the EOS community is still active, and EOS is still one of the most powerful public chains, but after a series of practices, EOS is no longer the "god" in people ’s minds. ", It is falling down the altar at a speed that is visible to the naked eye.

As for EOS's current biggest hope in landing applications—Voice, whether it is worth looking forward to before there is an innovative breakthrough, users still need to judge for themselves. Anyway, V God has stated that he has applied for a trial version of the beta.

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