Programmer BM (EOS founder Dan Larimer) never expected that EOS, which takes the lead in blockchain 3.0 technology, may one day die under the knife edge of its ultimate pursuit of technology.
Last year, Aiden Pearce (hereinafter referred to as AP) took the avocado (ENU) airdrop project, with an 80-fold increase in currency price, which once caused a carnival among leeks in the currency circle. Some people even thought that this poor version of EOS (ENU) This is the real EOS.
In a word, AP failed to allow ENU to replace EOS, but after a lapse of one year, it brought EIDOS, a new airdrop project, to put EOS in crisis. The rules of this airdrop project are very simple, the user transfers any amount of EOS to the eidosonecoin account, the system will return the same amount of EOS, and attach a certain percentage of EIDOS tokens, and the free EIDOS tokens are dozens of times The possibility of an increase, such free benefits, how can it not make people crazy.
For a while, the Wool Party completely captured the EOS network, and ecological participants such as digital wallets, exchanges, and DApps also launched various mining tools to assist in mining. The entire EOS network became a mining machine for EDIOS, and the original transaction Order was completely defeated. There are different interpretations of the meaning of EIDOS, and AP has not expressed its position, but at present, its meaning is very clear: EOS is dead (EOS is dead).
Will EIDOS really kill EOS?
Data will not lie, we can observe and figure out the clues through a set of data:
According to DAppTotal.com data:
1) The EOS CPU congestion index was 100% yesterday, while the CPU resources consumed by a DApp in EIDOS accounted for 60% of it.
This means that the CPU resources of the EOS main network are almost exhausted. Once the CPU resources are exhausted, the interactive operations such as EOS transfers, withdrawals, and playing DApps of ordinary users cannot be completed normally. The paralysis of the network.
The allocation of CPU resources is based on the DPOS (Share Proof of Interest) consensus mechanism in accordance with the proportion of EOS currency holdings. The more coins you have, the greater the right to use network resources. When CPU resources become a scarce product, its use cost and threshold are also raised accordingly, and ordinary users do not have so many coins, and cannot use the EOS network at all if they cannot afford to rent a CPU.
To use a popular analogy to explain, BM built a super city, allowing the rich to build many high-rise buildings, and rent them to ordinary users at low rents. One day, a local tyrant in Dubai suddenly came and bought most of the buildings. The house under the house could not accommodate so many residents, so the rent had to be increased. Ordinary users could not afford to rent and had to sleep on the streets.
2) Yesterday, the number of daily transactions on the EOS main network was 19.38 million, while the number of transactions on the EIDOS DApp alone reached 18.76 million, accounting for 96% of the total transaction volume.
This means that the blockchain 3.0 highway that BM has painstakingly built is full of gangsters borrowing EIDOS to get their wool, and almost all of them are spam transactions such as 0.0001 EOS, while real valuable transactions, such as DApp interaction, user transfer money, etc., but was blocked in the queue under the expressway.
To use a simpler analogy, BM built a highway and waited for Tesla and other small cars (valuable transactions) to speed up, but they didn’t want to be densely occupied by AP driving a flock of sheep (garbage transactions). People cant get on the road at all.
3) The day after the launch of the EIDOS airdrop project, the number of daily transactions of top gambling games such as Dice, BigGame, and EOS Knights, the pillars of the EOS DApp ecosystem, decreased by more than 90% in a day, and continued to decline in the next few days.
This means that the EOS community has consolidated the DApp ecology for more than a year, and it is about to collapse under the nuclear blast attack of EIDOS. Originally, the DApp ecology was tepid, and there was a serious lack of innovative gameplay and incremental users. Many DApp developers barely survived by relying on the dishonorable gaming model.
Under the disaster of EIDOS, more than 600 DApps in the EOS DApp ecosystem will face an embarrassing situation. The funds originally used for marketing operations will be diverted to lease CPU resources to maintain a certain amount of user experience. If things go on like this, DApp developers will face a vicious cycle of less and less income and higher and higher investment, until they cant survive and close their doors. Finally, the EOS DApp ecosystem has not waited for a killer application, but has waited for a killer.
To use another analogy, BM built a super shopping mall. On the first day of opening, it was supposed to attract heavyweight brands such as McDonalds, Starbucks, Adidas, Nike, and GUCCI. However, one day suddenly, AP held a big promotion at the entrance of the mall, giving away gifts as soon as you enter the store, so everyone queued up outside the mall to get gifts, and the mall was empty. One can imagine the fate of the mall in this way.
4) The number of EOS locked in EOSREX decreased by 5.36 million in a week, and the leading position in the DeFi market returned to MakerDAO again.
This means that EOSREX, a resource rental platform for the public, is on the verge of collapse. BM’s original intention is good. In order to prevent large households from hoarding goods, the DeFi lending mechanism has been introduced into the EOS ecosystem, so that the distribution of network resources can be more balanced. This was originally a good move for the convenience of the people. Idle EOS will be mortgaged into the REX asset pool. Ordinary users can rent EOS with a small amount of 1,000 times to ensure that CPU resources can be leased cheaply for the normal use of the EOS mainnet.
However, the problem is that all the big players have used the coins to sit on the bank and speculate. Who will mortgage the coins here, not to mention the pitifully low interest rate of REX. Therefore, we now see that most of the 100 million EOS mortgage is still done by some retail investors. Now the problem is, after EIDOS came out, the big investors who held a large amount of EOS went to mine, and the fast retail investors came to lease EOS, and the REX pool was emptied in a short time, while the slow retail investors Sadly, those medium-sized retail investors who have mortgaged a large amount of EOS into REX want to withdraw their coins to earn higher returns by leasing CPU, but find that the pool has been emptied, and they have to Queue up to withdraw coins.
Finally, let’s use a common analogy. BM knows that its DPOS mechanism is unequal to ordinary users from the very beginning, so it opened an official granary to encourage large users to put in idle EOS, which can be rented by ordinary retail investors at a very low cost. Temporarily become a big family and enjoy some privileges. Coincidentally, AP created a welfare lottery center to disrupt the situation. Retail investors only need 2 yuan to have a chance to win the big prize, but this welfare lottery is only sold to big households with status. Retail investors try to borrow money from the official granary to become big households. , but found that the official public grain has long been robbed by the real big households, and the gate of the grain depot is still crowded with a bunch of retail investors queuing up to get their own grain. Retail investors, looking at each other with tears in their eyes, have nowhere to say desolate.
The vision of EOS, which came out with the blockchain 3.0 highway, is to realize the popularization of distributed large-scale commercial applications and build basic communication facilities and bridges for the future blockchain world. Therefore, compared with Bitcoin and Ethereum, EOS claims to have certain technical advantages in terms of transaction speed, throughput, handling fees, and community governance.
In terms of transaction speed and throughput, EOS claims that its TPS is expected to be able to achieve millions of levels, and it can carry large amounts of traffic while conducting online transactions, allowing blockchain technology to integrate with current Internet applications with room for imagination. However, the reality is that its TPS is only about 4,000 to 5,000, and the 100,000-level TPS supported by graphene technology in the laboratory state still has unstable factors such as block loss. It is a bit of a dream to realize a million TPS now. Moreover, under the spoiler of EIDOS, the breakthrough of TPS technology actually made the wedding dress for the wool party.
In terms of handling fees, EOS has no obvious handling fees, making it easier to attract the attention and use of ordinary users. But there is no free lunch in the world. BM is free on the surface, but secretly introduces various market adjustment mechanisms such as RAM, CPU resources, and Net bandwidth, plus the underlying role of DPOS. After all, these free resources will inevitably be used by some large currency holders to manipulate and exploit them. EIDOS has brought a crisis to the EOS network by crushing its CPU resource market mechanism, and the fact has become that free is more expensive than charging.
In terms of community governance, the reason why EOS is expected to be the underlying operating system for distributed businesses is that it is very friendly to DApp application development. Gambling DApps once prospered, allowing everyone to see the growth of the DApp ecosystem based on blockchain technology. To a large extent, the future expectation of the DApp ecology has given the EOS public chain greater room for value imagination. However, EIDOS, which was born out of nowhere, undoubtedly grows on the heart of the EOS ecosystem like a cancer. The continuous spread of cancer cells makes it possible for other health applications in the DApp ecosystem to be swallowed up and destroyed. Without the support of the future EOS DApp ecosystem, how should the EOS pie be drawn?
Moreover, misfortunes never come singly. There are still many problems in the EOS ecosystem, such as continuous attacks by hackers, bribery of supernodes, frequent loopholes in the main network, etc., which have already overdrawn the trust of the community.
The programmer BM thinks that he has cleverly designed complex market mechanisms such as RAM, CPU, and NET, trying to achieve a more reasonable allocation of resources through the free adjustment of the market, a wider distribution of EOS chips, and a more prosperous DApp ecology, etc. Vision It was wonderful and the pie was big enough. Its a pity that in todays blockchain world, only one Token market is very manipulative, and BM has created three markets that may be manipulated. As Mr. Xiaolai said, the so-called consensus mechanism is the consensus between machines, not the consensus between people. When EOS abandoned the Bitcoin POW consensus mechanism and started DPOS to test the water, it has already planted all kinds of disasters, and how to adjust and deal with the instability of human nature, obviously relying solely on technology will not work.
A while ago, members of the MeetOne team complained that BM is a genius in blockchain technology, but it is really stupid in community governance. Now it seems that such complaints are not unreasonable. While expanding technology construction, BM should consider the development of DApp community ecology, consider the distribution and balance of scarce resources, consider every ecological participating partner, and even every user experience.
Its a pity that the programmer BM doesnt seem to take these into account. When explaining the EIDOS airdrop crisis, BM believes that the CPU shortage of the main network is unnecessary, which is the same as complaining that Uber cannot reverse the car during the peak period, and the fare premium is the same. Let’s take it easy, Mr. BM, after most people can’t use the EOS network, what is the value of EOS? Pull wool! !
It is a pity that most leeks are still optimistic about this, thinking that ordinary users cannot transfer money and use EOS, so they cannot frequently buy, sell and hype EOS, so that the price of EOS will stabilize, and those who make a lot of money The dealers will wait for the opportunity to pull the market. Pity my fellow leeks, they are all in such a situation and still don’t forget to take a bite of EOS dad.
It is still early to say that EOS is dead, but it is not alarmist. You must know that EIDOS, a cancer cell, will spread for 15 months. If it is not controlled and allowed to develop, the consequences can be imagined. Now the entire blockchain technology layer, Bitcoin segregated verification, Ethereum 2.0 sharding casper, lightning network side chain, FileCoin distributed storage, polkadot\Cosmos cross-chain and other technologies are accelerating, not to mention Libra, DCEP and other regular forces Join, the time left for EOS to save itself is really running out. Here, with the attitude of self-cultivation of leeks, I will give some official remedial suggestions:
1. Will the EOS official, which has billions of dollars in assets in its account, consider taking a little more official relief funds to solve the CPU resource shortage, just like using 3 million EOS to save the RAM market, and tens of millions EOS is mortgaged into EOSREX to release more rentable EOS, suppress high-priced CPU resources, and allow ordinary users to use the EOS network.
2. If possible, you might as well distribute some CPU resource subsidies to game developers in the DApp ecosystem. Although developers can choose to pay ordinary users for CPU to retain users, which is also the direction that EOS officially encourages, but the survival pressure faced by developers, will EOS officials also provide some subsidies?
3. Optimize the adjustment function of CPU and RAM market mechanism. Although EOSREX is a good innovation, it is used to save CPU resources, but the EIDOS air strike has exposed that the mechanism is not perfect, and there is still room for improvement. I dare not think, will there be a similar airdrop project to attack the RAM market again, I think there is still a possibility. There are too many BUGs in this kind of market self-regulation, and we still have to work harder on governance.
I really dont want to see that the BM master is about to run for his fourth project. . .
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There are no lofty concepts or uncommon technical explanations here, only the most popular business, the sharpest perspective, and the most unique insights. I am still an elementary school student in the blockchain industry, and the thoughts and thoughts in the article are all broken thoughts. Don’t laugh at the insiders, welcome to discuss, don’t spray the outsiders, the code words are not easy.
