EOS was launched with the promise of being a platform capable of supporting millions of users, free to use, easy to upgrade and fix bugs, fast and reliable for large scale applications.
In the past two months following the launch of the mainnet, we have already seen the implementation of RAM trading, Demux, a development tool that simplifies complex DAPP development and we are waiting to see soon:
- the most secure hardware wallet
- REX – Resources Exchange for EOS staking
- the development of DRAM and PRAM trading
- EOS decentralized exchange
- EOS social media
EOS has already fulfilled some of the promises delivering the fastest blockchain which continues setting always new record-breaking figures for the number of transactions per second that have reached lately almost 4000 TPS. There are already over 200 DApps and there are always more startups who chose to port their DApps from Ethereum to EOS.
The most secure Hardware wallet
Daniel Larimer promised to deliver the most secure hardware wallet and it is expected to be announced in London.
The wallet will use Apple’s secure enclave and will recognise fingerprints for signing transactions. The wallet will use the iOS and Macintosh software thus will be available on iPhones and MacBooks but Dan has revealed that the Block.one team is working also on an application for Android.
Relying on smartphones and laptops rather than on a custom hard wallet makes sense because the user needs to visualise and understand the transaction that is being signed. A transaction can be anything: a vote, a like on a social media platform, a move in a game thus having a clear view of what’s being signed is essential.
But Larimer goes further and renders his wallet even more user-friendly and secure. He limits the use of the keys by the user reducing the risk of its compromise. “The user will never see the keyword in our interface. You will never have to see a public or private key,” says Larimer. This can be achieved by introducing the key just one time and deleting it right after. The key will not be stored anywhere because the biometric will take its role.
REX for EOS staking
One of the most attended developments is the introduction of a resource exchange or REX to EOS which will permit to get a passive income from staking tokens. REX is a contract that will allow users to rent their EOS in exchange for a reward. On the other side, DApp developers will be able to rent resources that are allocated to the rented EOS what will decrease the development cost. The benefit of renting resources instead of having to buy a large amount of EOS will permit even low budget DApps to be developed.
The users need to stake their tokens in order to run transactions and this CPU power is bigger the more EOS staked. The CPU resources could be easily used if a user who has just few EOS runs several transactions. Staking more tokens or renting resources from REX will solve this issue.
While REX decreases the development cost pawing the way for a greater adoption it is evident that it works as a savings account for the token holders. More investors will be attracted by the passive income possibility and more tokens will leave exchanges in order to be staked.
REX won’t give any fixed rewards to the users but they will vary in base of the total amount of the pool which collects all EOSIO resource fees including RAM sales, fees, name auctions and in the future also token symbols auctions. Every user will get its proportional share of all revenue coming from the REX pool.
REX brings to EOS a requirement to vote for at least 21 Block Producers (BPs) or to delegate the voting power to a proxy. This rule aims to bring a higher voter turnout and a better security of the network.
RAM secondary market
The RAM market was a topic of a great debate for quite a long time. People would speculate on RAM skyrocketing the price and making developers unhappy but the latest improvements drew the price down back. Larimer proposed to create an apposite marketplace for speculators willing to trade the derivatives of RAM (DRAM) and RAM futures (PRAM). This would allow traders to short RAM as well as introduce features like margin trading, stop loss and take profit.
EOS DEX and social media
EOS Decentralized Exchange is another development that will bring instantaneous token swaps as well as bring more users to the EOS ecosystem. Users will be able to trade tokens directly from their wallets without the need to rely on a centralized intermediary.
The most expected development though seems to be a social media built on the EOS blockchain. It is commonly called Steem 2.0 but Dan did not reveal any details regarding its features. It is unclear if it will look more like Steem or more like Facebook or if we can expect one of its kind social media. The project delivery should be in late autumn but we hope to get beforehand some more information regarding this project.