EOS is New Silicon Valley
In a time of tumultuous tech development, rapid humanity progress and new order establishment, we meet more untypical and advanced thoughts.
Recently, Andrew Chen put an article and a podcast about Silicon Valley network effect. Who had no chance to read it, please check it by following link //andrewchen.co/producthunt-podcast/
Main point of the article I would like to stress is:
Either these network effects will continue to hold and the Bay Area will continue to be strong, or we make big structural shifts in how we organize teams and workforces and the network effects become less strong. But that doesn’t mean some other city becomes the next Silicon Valley, there won’t actually be a “next” Silicon Valley — it either continue or will just be distributed.
Silicon Valley network effects, OKRs for your personal life, and more: Podcast Q&A with Product Hunt
The hype is gone
There is no doubt that crypto wasn’t doing good in 2018, but it means that it’s not the hype right now. Only a small number of strong projects showed good volatility. On the other hand when we see regular market recovering the great number of new and progressive projects shows up, because market understand that the technology itself has a great value.
Still it’s impossible to tell someone that project you are using or investing is better than the project he holds tokens, even if it has irrefutable advantages. We see segmented market of believers in tokens rather technologies, which might last for sometime. The market is raw but it becomes ready for masses. Blockchain now is on the same stage that was dotcom market more than 20 years ago.
EOS makes a move!
In the meantime real revolution happens in the EOS blockchain. Accordingly to //dappradar.com/eos-dapps you can compare volumes of transactions, number of dapps and volumes of EOS circulating daily which is outstanding. There are around 100 dapps now in the list that have at least any volume and numbers are increasing. EOS has become the largest blockchain in terms of transactions number and volume within two quarters in 2018 and has generated about $3,5 billion transactions volume!
Top 5 dapps showing much more than 1 mm of EOS circulating, and the most important point is that you don’t need to pay fees for transactions. Numbers are fluctuating so weekly Top 10 dapps volumes are 160mm EOS so far.
Gambling dapps are true driver of dapps for now in EOS with about 97% of all transactions amount, yet it’s not limited to. There are plenty of RPG games coming and the next step are unity and unreal engine dapps that will confidently enter the market soon. Exchanges, CPU leasing dapps, payment processing, habit, content dapps are also in the list.
EOS is around only for several months, and already having number of use cases and many dapps from ETH ecosystem are moving into EOS.
Why EOS is so successful?
Following up on I would like to outline list of 5 items that makes EOS so successful:
Revolution happened from few apps on the beginning, when several projects made an airdrop and laid the foundations for the future development. EOS has absolutely new governance structure, which gives full blockchain dapps control into the hands of the token holders with infinite scalability. Some of these you can check are: KARMA, BLACK, HORUS, BOID, DEOS, ATD, Everypedia(IQ) and others.
Full list can be found here eosdrops.io
Airdrops in EOS were massive, which means you could get 1 token per 1 EOS you hold from genesis snapshot. It made the market itself and people started to keep or trade token!
2. Gambling dapps
An early success happened to several first dapps in EOS that were announcing games. EOSBet released first game on the market, DEOS was first airdrop and zero edge game was proposed to users if you use their token.
In several weeks we got many newcomers jump into the hype, because of crazy volumes. EOS holders were trying games and EOS network live, they were keen on what is the ‘thing’ they are holding. Amount of dapps grew from 2 to 20 in a few weeks. Now this number is more than 100.
3. Network effect
As new teams came into the game they started to learn from Telegram chats and forums live feedback from early users. That created quick network effect, which was probably 100x by speed what we saw in dotcom or any current Silicon Valley tempo. Learning curve and network effect in the Silicon Valley built from late startup stages, when you grow fast and get exit. Early employees came into the game by exiting with solid checks and running new companies, mostly in same niches. This worked like activator for market development.
4. Unique tokenomics
I must assume market went into interesting way by hearing users and taking into account sometimes too much. So dapp developers provided plenty of things to users/players. Nothing like that happened in any other dapps(either centralized web/mobile casino apps or bitcoin or eth casino).
Users can stake tokens earned by playing (new terms came into game ‘mining’ or ‘farming’ via gambling) or bought on the exchange. Once other players are gambling you can earn passive income as the dApp is paying off you dividends.
Token price also came in play, famous Bet Dice project (DICE token, grew nearly 50x from it’s beginning). The thing and trick is that mining rate is changing like bitcoin mining rate and it makes price to grow, as people choose to buy tokens to stake or mine them to stake. Normally the price to buy is better, but it’s petty dynamic.
5. Cross Chain expansion
That is last trend in EOS, yet it shows strong effect. EOS is still small by number of active users, especially players. All current projects think on how to expand, that’s where EOS stablecoin project came into help. Now you can convert your BTC, ETH or USDT 1:1 appropriate stablecoin and play/trade and use EOS chain with no restrictions. Many dapps already started to support it, and if it goes well it can be huge step to the masses with more wide possibilities of blockchain technology.
As a conclusion
EOS is constantly changing and not far off the time we see cheap and simple account creating like Facebook do it, without any needed developer knowledge, for average users!
I am sure this is revolution, so even if EOS will face some future scalability or governance issues the knowledge and skillset built here will jump into other networks and creating distributed knowledge based economy. You don’t need to replicate and build Silicon Valley in your city or country.