EOS has had an exemplary performance in the past week, dethroning Litecoin from the top five. Some have attributed this pump to the upcoming EOSDAC airdrop, but a deeper analysis would reveal that EOS’s rise is more anchored on fundamentals, than some short-term profit motive. To understand this, you just need to look at the EOSIO dawn 3.0 that was released about a week ago.
This release by block.one points to a future where EOS could easily dominate everyday life, through all kinds of decentralized applications. That’s because dawn 3.0 creates the platform for simplified smart contracts development. It has achieved this by automating most smart contracts processes. In essence, anyone using EOSIO Dawn 3.0, anyone with some knowledge of programming, should be able to create a smart contract on the EOS platform. This only means one thing. As more people take an interest in smart contracts, EOS (EOS) will be their go-to platform given that ease of use is one of the factors that can either attract or deter programmers to a smart contracts platform.
EOSIO dawn 3.0 also allows for easy inter-blockchain communication. Inter blockchain communication is the goal of every smart contract platform out there. That’s why the issue of sidechains is hyped by many of these platforms as the solution to the problem of scalability. EOS takes this a notch higher and solves this problem more efficiently with a context free actions system. Through this system, transactions do not depend on the main blockchain, allowing for parallel validation. This allows for almost infinite transactions through EOS, something that many other smart contracts platforms available today have been unable to handle.
Another plus for the EOSIO Dawn 3.0 is that it uses a security delayed transaction system. Through this system, every transaction must be broadcast for several days before its application. In the delay period, the user can easily reset their account to cancel the transaction. This is a first in the blockchain space given that it eliminates any chances of making a wrong and irreversible transaction. A problem that is actually a possibility with many blockchain platforms at the moment. The ability to cancel transactions on the blockchain is a major improvement to the blockchain ecosystem and will give EOS an edge in the market going forward.
On top of that, in the EOSIO dawn 3.0, a majority of the blockchain business logic is on a smart contract that can be updated by the crypto community, without the need for a hard for. This makes it easy for EOS to scale at any moment, given that the most fundamental aspects of the blockchain can be upgraded.
With all these features, it is not hard to see why EOS is a blockchain a step ahead of the rest. With the launch of the EOSIO dawn 3.0, the number of Dapps launched on the EOS blockchain is likely to increase over time, and with that, a continued growth of the value of EOS.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.