Josh Sigurdson talks with Dan Larimer, creator of Steemit/Steem, BitShares and of course EOS, a cryptocurrency making the rounds and quickly finding its way to the top of the cryptocurrency ladder.
There's no doubt why EOS has been doing so well as of recently. EOS prides itself on being one of the most decentralized and transparent cryptocurrencies on the market.
In Dan Larimer's own words,
"EOS is all about my continuing mission to find free market solutions for securing our life, liberty and property. I believe blockchain technology is the future and EOS is designed to be the most powerful, flexible, easy to use, best governed, most decentralized blockchain software on the market."
Dan says he's been inspired by out of control government to build something that can replace the current systems we are coerced by on a daily basis.
With the incredibly high transaction fees and wait times in recent days with Bitcoin, EOS does not have transaction fees. As Larimer went on to say,
"First of all, EOS is designed to process tens or hundreds of thousands of transactions which increases the capacity which will help keep the fees down. Second, we do not charge fees at all. We do rate limiting which means if you only transact periodically, you're always going to get your transaction through. There will be no fees. The network will never be so flooded that it'll be unresponsive which is a problem with the fee model, that anyone with enough money, about $250,000 a day can completely shut down Ethereum just by fees alone, or at least raise the fees until no one will be able to use it. So the model and the allocation of resource usage under EOS and Steemit completely changes the game in terms of ensuring access to the blockchain."
EOS has just begun and the ICO ends in June 2018, but there are a lot more announcements yet to be made according to Dan.
Following up the topic of EOS, Dan Larimer goes into Steemit a creation of his and his team's. He talks about the potential of Steemit to change the game entirely when it comes to social media on the blockchain. Steemit's cryptocurrency, Steem has been skyrocketing recently and so has Steem Backed Dollars (SBD), a risk mitigating token for creators on the platform which seems to have garnered a life of its own in recent days, at one point peaking above $19.
As mainstream social medias censor and demonetize creators, Steemit arrived at the perfect time to save independent media organizations that were struggling to get by.
We're just seeing the beginning of a monetary and internet revolution, the likes of which we've never seen before in history. From Steemit to BitShares and EOS, like we said, it's only the beginning.
We appreciate Dan Larimer's time and we hope to talk with him again soon.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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