EIDOS Severely Hampered EOS Network
EOS Israel complained about the EIDOS mining process hijacking the original purpose of the network.
The EIDOS mining process continues on the EOS network, skewing the way in which the distributed operating system is used. The EOS network, which boasted more than 1.6 million accounts, was also among the most active in distributed app activity.
However, the picture changed since the start of November. The EIDOS mining process also dispersed the bots that turned out to be the source of dApp activity on EOS.
The EIDOS team, formerly related to Enumivo, has kept claiming the token is not an attack, but an alternative use case for EOS, aiming at a new equilibrium. But teams that wanted to use the EOS platform for smart contracts and dApps, investing resources, are worried about the effect of EIDOS.
The mining of EIDOS is putting a varying strain on resources, but mostly uses up processing power on EOS. Currently, EIDOS uses up the REX computational resource, and raises prices. But the Enumivo team noted the situation would improve soon:
The price of EIDOS is also on the rise, after sinking to a low of $0.004. At those rock-bottom rates, EIDOS managed a rally to $0.005, posing another incentive for more active mining. The EOS network still marks above 58 million transactions per day, with almost all transactions sending EOS to the mining smart contract, to produce more EIDOS.
The trading volume for EIDOS is extremely low, around $218,000. But even with the slim trading, the activity has cost almost all resources on EOS.
The EIDOS activity is expected to continue in the coming 14 months, coinciding with TRON-based simulated mining of the DDOS token.
The worst effect for the EOS network is the fact that larde, dedicated dApp teams are leaving for other platforms. EarnBet has decided it cannot run to scale on the EOS blockchain, and has put up its 30-day notice for a migration:
EOS Dynasty for now remains one of the few dApps with a high user ranking, but top five dApps by volume are no longer dominated by EOS, shows the latest DappRadar report.