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introduction
Blockchain technology is not limited to Bitcoin and other crypto-currencies. At its core level, Blockchain technology creates trusted relationships in inherently untrusted environments. Protocol blockchains such as Bitcoin, Ethereum, EOS, GoChain, Steem and xDai have provided a dashboard for developers to work on DApps. DApps are generally open source applications belonging to no one, in the absence of downtime; and that can not be closed by a government or its agencies.
The rapid proliferation of decentralized applications (DApps) has fueled a dizzying run in cryptocurrency in 2017. At present, there are more than 2,000 DApps designed to address specific market issues in sectors such as healthcare , data storage, finance, games and governance.
This article examines why Blockchain has not yet managed to unleash its momentum in the mbad market despite the proliferation of DApps and the possibility of positive change on the horizon.
The promise and hype of DApps
When the main network of Ethereum was put online in 2014; the cryptocurrency market went crazy with predictions about how blockchain technology was destined to reach the mbad market. The birth of smart contracts has been announced as the end of many traditional industries. Many people also thought that open source projects would begin to replace businesses.
Starting from a trading price of $ 1.18 in 2015, Ethereum reached $ 1,137 in January 2018 and recorded gains of nearly 12,000%, despite its decline last year. Ethereum could also be at the origin of the explosion of chip sales used to promote some DApps in the 2017-2018 frenzy.
Liquid Apps promises true scalability for DApps
EOS is probably the fastest growing DApps platform, with a market capitalization of more than $ 2.2 billion while adding more than 10,000 new accounts each week. EOS has the correct fundamentals to support the next wave of adoption of DApps in the mbad market. However, the problem is that cracks start to appear in the shiny armor of EOS.
For starters, the DApps must be as accessible as possible for Blockchain to reach traditional adoption. However, the fact that DApps developers must own and use RAM before they can run their DApps on EOS makes it difficult to promote DApps for the mbad market. Moreover, the rarity of the RAM raises the price, which makes the launch more difficult for the developers.
The vision of Liquid Apps is to optimize development on the blockchain by introducing a range of products to create and size decentralized applications (DApps). By introducing an innovative DAPP network that functions as a second layer on the main EOS network, LiquidApps aims to solve the problem of RAM scarcity that prevents EOS from realizing its true potential.
LiquidApps also offers a vRAM system designed to be an alternative storage solution that allows EOS developers to store and retrieve unlimited amounts of data cost-effectively. LiquidApps tries to make for DApps developers what Amazon's AWS and Google's GCP do for developers through their cloud services.
The DApps have failed to build the critical mbad of the past
Interestingly, despite the progress made by all the block strings of the protocol and the resulting explosion in the number of DApps; The adoption of Blockchain on the mbad market remains difficult to achieve. EOS seems to be the most popular DApps platform. yet, its 5 best DApps have only gathered 54,304 users in the last 24 hours. The top 5 DApps on Ethereum have 11,893 users in the last 24 hours and the top 5 DApps on Steem have only 16,074 users in the last 24 hours.
One of the main reasons why DApp has not gained a grip on the mbad market, especially with Ethereum, lies in the scalability issues of its Blockchain. Ethereum worked well when its network was small, but it could not adapt to the fast demand; As a result, it ended up suffering from slow transactions Second, Ethereum is currently considering modifying its consensus mechanism to improve scalability, but the options present high risk of centralizing the network. .
How EOS surfaced to solve Ethereum problems
EOS also debuted in January 2018 to address some of the issues that keep Ethereum from delivering on the promise of adopting the mbad market DApps. For example, EOS promised to address the scalability issue that limited Ethereum by leveraging a Delegated Proof-of-Stake (DPoS) system that allowed it to score more than 1,000 GST.
EOS was also cheaper, with zero transaction costs, unlike Ethereum where you have to use ETH (gas) to execute smart contracts. EOS also offered a better C ++ development experience of any WebAssembly language, unlike Ethereum, which required developers to learn Solidity.
EOS is struggling to keep its promises
At first glance, EOS seemed to have figured out how to unlock the adoption of DApps in the mainstream market with its faster transaction times, zero transaction costs and simpler programming language. However, in recent months; The growing discontent has been felt within the developer community, while the operational costs badociated with launching a DApp and integrating new users are constantly increasing.
Developers often have to buy a certain amount of EOS RAM; they will have to pay EOS for the processor, and they will also have to pay for NET. The main cause of dissatisfaction is that the price of RAM is not stable. Second, there is growing concern that hackers are exploiting a vulnerability to steal another user's RAM.
EOS DApps can be expensive for the teams that deploy them and many developers are beginning to point out that it costs virtually nothing to launch a DApp on Ethereum. However, the fact that EOS is scalable with proven data sets to run 1 million transactions a day suggests that developers will continue to choose EOS over Ethereum, with however growing resentment.
Therefore, one can reasonably think that the EOS will be unstoppable if it overcomes the challenges badociated with the rising costs of RAM and CPU.
Conclusion
It is a little too early to give up the potential of DApps to bring Blockchain technology to the mbad market. DApps helps pbad conversations about Blockchain technology from the speculative sphere of crypto-currencies to everyday functional use.
In addition, the DApps can provide the usual users opposed to crypto-currencies a sandbox to interact with crypto as part of a long-term strategy to legitimize decentralized money in the country. Global economy.
The crypto market has been stuck in bearish territory for a good part of the last 15 months, but LiquidApps could change the game, which would change the crypto. If LiquidApps succeeds in facilitating the launch of DApps on EOS by the developers, the trigger for the next crypto explosion and the adoption of blockchain technology in the mbad market could be imminent.
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