EOS, a platform that attempts to be competition for ethereum, has raised over 15% in value today to claim themselves in the top 5 market capitalizations in cryptocurrency space today, knocking litecoin down to the 6th place.
EOS is a blockchain platform for the development of decentralized applications. The goal of EOS is to make development of decentralized applications easier by providing an operating system of services.
One week ago today, April 5, they announced the lauch of Down 3.0 which is a prerelease of their platform. According to a publication on medium by the founder of the project, Dan Larimer:
This pre-release represents a major milestone on the road to EOSIO 1.0 targeted for release in June 2018.
It had been 4 months since the last EOS update, and the is a bit of speculation as to why it took a week for the rise to take place. Today, whereas EOS has seen a large increase, it is also notable to say, all cryptocurrency are currently on the rise. Bitcoin has also risen nearly 10% today.
Dan states that:
At every step our team has factored future scaling needs into the design.
However he also admits that there are still many features relating to scaling that are not yet implemented into the system.
One of the most notable things EOS is claiming it is bringing to the table, is the ability to alter smart contracts, without the need of a hard fork.
Dan puts it like this:
Under EOSIO Dawn 3.0, the vast majority of the blockchain business logic has moved into a smart contract which can be dynamically updated by the community without a hard fork. A bare-bones EOSIO blockchain is now a single producer without any tokens, voting, or delegated proof-of-stake. The only thing implemented in the core blockchain code is the permission system which includes the ability to create accounts, deploy contracts, and enforce resource quotas.
EOS also promises to be the most secure blockchain released to date including the features for Security Delayed Transactions and Lost Password Recovery without jeopardizing security or requiring owner’s keys.
This current release also allows simple smart contracts to be created using C++ class methods.
Dan finishes up claiming:
EOSIO has become far more powerful and easy to develop for than we had conceived a year ago.
He says they are right on track for their expected full launch in June of this year with one of the top 10 most active channels on all of github.