There’s Never a Dull Day in EOS Land
The EOS soap opera has made for compelling viewing in recent weeks. The level of hype and funds invested in the project meant a soft launch was never going to be possible. Satoshi appears to have launched bitcoin alone, with zero fanfare and the world oblivious. EOS, on the other hand, has launched following a year-long $4 billion raise, having excited half of the crypto community and the alarmed the other half.
The most recent issue was a bug which caused block production to stop over the weekend, forcing a conference call between Block.one, EOS’ developers, and the 21 block producers tasked with running the network. The cause of the problem appears to have been an error in the latest build, obliging EOS to resort to an earlier version of the code. This raises the question of how much testing is being performed on new code; it looks like Block.one is issuing updates that have not been thoroughly tested, forcing them to fix problems as they occur on the mainnet.
Features, Bugs, and Anomalies
While unfortunate, bugs are to be expected when an entirely new blockchain launches, and bitcoin and ethereum weren’t without their issues in the early days either. But there are troublesome aspects of EOS that are there by design, and whose presence is harder to explain. There’s the high amount of tokens that must be staked by developers, for instance, in order to run EOS dapps. The amount payable ranges according to the amount of network resources the dapp requires. Had Crypto Kitties been running on EOS at the height of the dapp’s popularity, it’s been suggested that the amount of tokens required to operate it would have ran into the millions of dollars.
And then there’s the complexity of creating an EOS wallet. Creating an account calls for obtaining the assistance of an existing account-holder. Without their input, it’s impossible for any newcomer to join the EOS ecosystem. In time, EOS dapps should make account creation easier, but until then, the public blockchain operates more like a closed system, with participants reliant on the support of other EOS holders to get the ball rolling.