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EOS.IO software will not suffer from Denial of Service (DOS) attacks like Ethereum by dantheman

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· @dantheman · (edited)
EOS.IO software will not suffer from Denial of Service (DOS) attacks like Ethereum
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Earlier today I attempted to create a multisig account on the Ethereum blockchain only to discover that $85 dollars of ETH would be an insufficient fee.  Shocked that fees could be so high I investigated only to discover that the STATUS ICO flooded the Ethereum blockchain with an unprecedented number of transactions.
 
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Scanning the forums on reddit, user emanslpater made the claim that it doesnโ€™t matter how good the network is, it will suffer from denial of service with these ICOs. 
 
> The problem with these "race condition" ICOs is that it doesn't matter how good the network is--that just becomes the new race condition. Say the network can handle double the transactions--then people just cram all of their transaction attempts into half the time. Even if the network could handle a billion transactions in a single block there would still be an incentive to transaction flood.  -- emanslpater 

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I got a similar response in an Ethereum Telegram chat group where they blamed the inexperienced community for creating poorly designed ICO contracts.
 
This is another case of people looking at the problem wrong and then drawing the wrong conclusion. I will admit that at first I found emanslpaterโ€™s argument compelling; however, upon further consideration I concluded it would completely fail on any system that uses the rate limiting algorithm of EOS and STEEM.
 
No one is able to flood the STEEM or EOS networks to an extent capable of denying other users the ability to transact at their entitled rates. Someone with 1% of the tokens is always able to consume 1% of the available bandwidth, even under congested situations. Under less than congested systems they are prevented from consuming more than 50% of the available capacity.
 
So what would happen if the STATUS ICO was implemented on EOS?  Users who only transact a few times per day (most users) would be completely unaffected. Those who regularly take advantage of the unused bandwidth of others will be rate limited but will still be able to transact like everyone else.
 
 
## Million Dollar Give Away on EOS blockchain
 
Letโ€™s assume someone constructs a contract that gives $1 million dollars to the first 1000 people to request it after a particular time.  Letโ€™s also assume that this contract has been advertized far and wide.
 
No one will be able to broadcast early because the transaction will be rejected and therefore not propagate across the network.  When the time arrived everyone would broadcast their transactions at the same time.  Each node would accept and relay the first 1000 requests and then reject everything after it. Every node would have a slightly different set of pending requests, including the block producer. The block producer would produce a block based upon the first 1000 it received and then broadcast it. Once broadcast all other nodes would accept those 1000 and discard the rest of their pending transactions which have now been declared invalid.
 
The entire ordeal would be over in 3 seconds and the network code would hardly feel it.
 
# Conclusion
 
The problem Ethereum faces cannot be solved so long as it retains the current fee model and people insist on doing capped ICOs below market prices on a first-come, first-serve basis. These capped ICOs at below market prices might as well be million dollar giveaways.  I am still looking for the ["too many advantages of the gas paradigm" Vitalik recently alluded to](https://steemit.com/vitalik/@noganoo/an-interview-with-vitalik-buterin-founder-of-ethereum-exclusively-on-steemit-6-21-2017).
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vote details (435)
@ade-greenwise ·
EOS is exciting stuff, I'm no techie but I'll just say thanks in advance for all the work @dantheman and teams to push the envelope and create robust / developing platforms for creativity and utility, in this brave new world.
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@alphacore · (edited)
$0.02
___

  * [I think it's sad in so many cases the crypto transaction fees are skyrocketing, because that was supposed to be part of their foundation where you pay very tiny amounts for transaction fee, now BTC fees can easily reach $5 or more depending where it's used and takes a long time for transaction, people move to another and then it starts having same problems, now ETH is having problems too with all the ICO nonsense, maybe IOTA is a good investment afterall ^_^](https://steemit.com/@alphacore) 
___
๐Ÿ‘  , ,
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vote details (3)
@amazingprofit ·
Great content keep up the good work. Thank you.
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@arcange ·
You have been mentionned in my hit-parade of 2017.06.21
Congratulations @dantheman!
Your post was mentioned in my [hit parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20170621) in the following category:

* Pending payout - Ranked 5 with $ 1332,81
๐Ÿ‘  ,
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vote details (2)
@article61 ·
Just seen you guys for the first time on Anarchast. Great interview and has given me a lot of faith in steemit. Will be much more positive about this now. Not coming from a tech/crypto background, this site took a long time for me to get the hang of. My own fault because I ran in like the proverbial bull. I've wrote a post warning other noobs not to make the same mistakes :)  and I think a big power-up is on the cards! Relative to my wealth of coarse. We ain't all big-dog but maybe one day.... I'm certainly going nowhere now.
Thanks for making such an ace platform! And lets risk it for a biscuit!!
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@augustinechirra · (edited)
.
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@aungyi ·
Morning sir
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@birdinc ·
Wow, Dan you are the man. Very articulate and well written article. Also, amazing Wallet numbers. Can't wait to read more of your work!
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@bitacer ·
This is where people will  be switching to bitshares, just watch.
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@bryanlai98 ·
Bubbles , some icos are not worth the investment. It's the hype that brings the value up. Great post btw mate
๐Ÿ‘  
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vote details (1)
@calamus056 ·
$0.61
@dantheman Please change the world with EOS :)
๐Ÿ‘  
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vote details (1)
@capitalism ·
$0.67
After reading this I feel an urgent need to sell my ETH and buy EOS. :-)
๐Ÿ‘  ,
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vote details (2)
@bitcoinforblonds ·
$0.07
but don't you have to buy the Eos  in- eth??
๐Ÿ‘  
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vote details (1)
@dp1011 ·
$0.12
That seems to be the objective of the article don't be fooled
๐Ÿ‘  , ,
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vote details (3)
@quangha1710 ·
Problems will appear when something develops. Bitcoin, Ethereum have their own problem. The reason is they have developed so fast. In my opinion, problem is positive if we see by different oracle.
I imagine in the next 2 year, Eos will face some issues when it mature :)
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@comet · (edited)
Very intriguing points dantheman.  I like that  the networks of Steem & EOS cant be flooded.  The high fees is a major concern, thanks for sharing your findings and explaining them.
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@conradhann ·
just want to say - https://steemit.com/blockchain/@conradhann/urgent-eos-ico-warning-please-read
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@coolbowser ·
Thanks Dan. You the man!
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@cryptodata ·
Great insight on ETH ICOs and how the current system is flawed. I'm currently in line for the Civic ICO and they're down for the next two hours. Fun times
properties (22)
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@cryptotraderrr ·
highly informative,thanks for sharing
properties (22)
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@datajunky ·
โ€œA concept is a brick. It can be used to build a courthouse of reason. Or it can be thrown through the window.โ€ 
โ€• Gilles Deleuze, A Thousand Plateaus: Capitalism and Schizophrenia
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@daudimitch ·
Very informative piece, I look forward to the EOS progress and @dantheman probably you can pull a page from Jeff Bezos book, keep it cheap, accessible and customer driven.... on another point, these ICO are popping up faster than fast food hut, how much coins is to much?
properties (22)
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@pratikchordia ·
lol thats the reason the pay out is declined here.
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@davidconstantine ·
The solution is Coin without fees like IOTA...
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@digitalplayer ·
We are all missing you on this blog. Are you planning to be back to posting ? Are you publishing your articles on other pages? Hope to read yours again soon.
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@dontstopmenow ·
Great post!  I am also waiting for the advantages of the gas paradigm ... but I trust Buterin, I mean, I know he is a smart guy... he might prove us wrong.

Thanks for sharing !
๐Ÿ‘  
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vote details (1)
@drpuffnstuff ·
$0.96
Bring on the EOS, thanks for all that you do! and Hopefully there will be an ICO on EOS that will show them this in action! I'm looking forward to it and I appreciate your openness about the coin sell!!
๐Ÿ‘  , , , ,
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vote details (5)
@dvimspdgo ·
Great post!
properties (22)
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@eddieelsewhere ·
Follow me for the latest in tech news from my paid subscriptions to Barrons, the Wall Street Journal and many more..
๐Ÿ‘Ž  
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vote details (1)
@edumurphy ·
These ICOs are truly becoming tiresome. They're screwing up Ethereum (which, for much of this year has been my favorite crypto); I mean, look at that damn price! 

I am hearing a lot of good things about EOS on Steemit. This is probably a stupid question but ... is there a wallet for it yet?
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@elgeko ·
$0.19
![eos-eth-adabsurdum.jpg](https://steemitimages.com/DQmdTi4HB7qvywp58KsHier4xkFUYfkgWVXPDvZJmRPEyHf/eos-eth-adabsurdum.jpg)
๐Ÿ‘  ,
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vote details (2)
@flauwy ·
Interesting, I have to read more about EOS. What do you think about LBRY? They went up a lot recently and tomorrow is their Beta announcement. 

https://steemit.com/cryptocurrency/@flauwy/lbry-cryptocurrency-the-revolution-of-decentralized-digital-content
https://s6.postimg.org/9q34cuf6p/Digger-_GIF.gif
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@freedomnation ·
$3.57
Will ETH gas price continue to rise in the future?  Fees are already high for a 2years old crypto.  EOS has a huge potential,  it's upto people whether they are going after crypto-fiat trading or using the real deal of the blockchain which EOS has a huge chances to become.
๐Ÿ‘  , , , , , , , , , , , , , ,
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vote details (15)
@fun-along-theway ·
ThankS DaN - ))

IT must BE very 'curious' to be YOU ?? - )) .. A FUN CrazY world, where 'in' YOU sPEAK and kNOW of another  world, ... that i suspect 'few' will ever truly 'know' or, comprhend (( likely i am one - ))  - ))  ... and, yet WE've ALL come to depend and rely  ... on what, WE don't kNOW.  
BeinG human ( 101 ) .. ha ha )))
IN your post .. i am surprised .. a bit ?? ... not, a " EOS " champion piece .. a 'real-time' "WhaT IF" .. and, the raBBit wHOLE YOU 'used' .. figuring "IF", out - )))  
... i like ThaT  - ))

Well .. i hope YOU're GettinG "DAN style PLAY TIME" .. "IN" !! - ))
.. creating YOUr "" Dr. E. Am "" is GreaT !!! - )))
...  if it's FUN !!! - )))

MeaninG and ValuE ?? !! ?? - ))
FeelinG .. is the success WE each "see-K" - )))

QUEST-i-ON (s) ... ?? - ))

... a blank canvas lays before YOU - ))

... what color is it, what's it made of, how big is it ???

... IN 'each' of YOUR hands are 'something' ... what ???

... LastLY .. tHERE is MusiC coming from outside the rooom ??

... how many people  in the BanD - )))

NOT ... idle chatter, nor..  to waste time !!! - )))
(( sin-gle word ansWErs, still rePREsent .. B_r(iD)ge's ))

Etherium ... a PeeK into Vitalik's "WAY" - )))
... and, tHERE are obv-iou-sly .. B-lock-S .. ha ha )))

YOU talk BlockS DAN, YOU BuilD BlockS ... ??? - )))
.. but .. ALL i FeeL .. are CircleS .. from YOU ? - )

Trans-parent W-aLLS - )))

.. just saying .. hi ))

LOVELOVELOVE )))
greb'Z )
๐Ÿ‘Ž  ,
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vote details (2)
@fun-along-theway ·
.. my apologies for whom i've offended with this post  -(

.. sorry
properties (22)
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@dantheman ·
your text formatting looked like spam and was hard to read.
๐Ÿ‘  
๐Ÿ‘Ž  , , , , , , ,
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vote details (9)
@gangstalking ·
The people doing V2K want me to believe it is this lady @battleaxe Investigate what she has been up to for 5 years. Its the next step to stopping this. Make her prove where she has been for 5 years or where she is now. She is involved deeply with @fyrstikken and his group. Her discord is Battleaxe#1003. I cant say she is the one directly doing the v2k. Make her prove it. They have tried to kill me and are still trying to kill me. I bet nobody does anything at all. Make @battleaxe prove it. I bet she wont. They want me to believe the v2k in me is being broadcasted from her location. @battleaxe what is your location? https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
๐Ÿ‘Ž  ,
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vote details (2)
@gangstalking ·
<div><p><center><b>Whoever is directly controlling the V2K told me to kill myself.<br/>They told me if I killed myself now it would save the lives of countless others.<br/> Saying the longer I wait to kill myself the more people will suffer.</b></center></p></div><br/>They are reckless and should have shown the proper media what they had before taking me hostage for 5 years. I know there are many in prison that dont deserve to be there because of this. Your stay in prison will not be fun @battleaxe and friends. People are going to want you dead when they find out what you did. I hope you die a slow painful death. You sick mother fuckers.<br/><br/> https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem<br/><br/> Its a terrorist act on American soil while some say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic and foreign threat. Ask informed soldiers in the American military what their oath is and tell them about the day you asked me why. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control with ill intent. How do we protect locked up soldiers from telling the truth?
๐Ÿ‘Ž  
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vote details (1)
@gary-wood ·
Im glad BTC has competition but i can't understand ETH current valuation with how many times the network has had issues. I understand is much more complicated but i dunno i sold all mine after the DAO fiasco maybe just bitter.
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@wekkel ·
Well, with peaks at 90,000 tx/s it is not the case that ETH failed for no reason. But there is clearly some work to do for ETH developers.

Did I understand correctly that ETH will move to a Proof of Stake system and if so, would the current issue be solved by that change of consensus model?
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@dantheman ·
$0.04
No, proof of stake alone does not change the economic incentives, gas prices, or spam.
๐Ÿ‘  , ,
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vote details (3)
@gary-wood ·
So is the EOS still going to use Ethereum for its ICO ?
๐Ÿ‘  
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vote details (1)
@quangha1710 ·
I assume yes
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@halfik · (edited)
DPoS have other tradeoffs. It can't be as secured as PoW networks. It can and will be a way faster (more tps) but also way less secure. Why? Becouse if you have let's say 100 "miners" (Elected Witnesses) at time, then all others are waiting for next "elections".  So if i understand it only 100 miners are being paid at a time, all other have to wait and have hope to be elected. So how long can you run a powerfull "computer" while not getting paid for running it?  If you can run your machine for some period of time, means it isn't that powerfull.


In my opinion DPoF is most centralized of all blockchain technologies and can't be used where decentralization and security are top priority like in bitcoin for example.
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@dantheman ·
Your understanding of decentralization is heavily flawed.  There are less than 10 mining pools that run full nodes and the miners don't even have to process the blockchain.  Proof of Work became Delegated Proof of Work.

DPOS is the most decentralized in terms of UNIQUE BLOCK PRODUCERS PER CONFIRMATION WINDOW.  It is also the only chain that has incentives aligned properly.
๐Ÿ‘  ,
๐Ÿ‘Ž  , , , , , , ,
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vote details (10)
@healthiswealth ·
### How do you keep track of all the ICO's Dan?
๐Ÿ‘  ,
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vote details (2)
@dantheman ·
$0.51
I don't.
๐Ÿ‘  , ,
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vote details (3)
@healthiswealth ·
Please offer a solution to this:
https://steemit.com/steemit/@venuspcs/-steemit-is-broken-as-long-as-this-is-allowed-to-continue-

Thank you.
๐Ÿ‘  
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vote details (1)
@ikmar ·
What it should be terganntung on certain applications
properties (22)
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@indepthstory ·
why is the upvotes scratched?
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@dantheman ·
because I declined payout, lol Steem is limiting me to one comment every 20 seconds.
๐Ÿ‘  
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vote details (1)
@trogdor ·
I thought rate-limiting was supposed to be based on Steem Power?
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@izbing ·
Thank you very much for this very pertinent analise. Yesterday I nearly bought the ethereum fortunately a minute before I read about steemit that blockchain bug (Surely thanks to you in addition).

I am looking for a currency with smartcontract in which to invest. What do you recommend ? To buy low ethereum (I think not in view of your conclusion), the ants?

Thank you
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@jeffjagoe ·
$0.02
Wow... Next Summer will certainly be an interesting one.
๐Ÿ‘  ,
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vote details (2)
@joeyarnoldvn ·
I think the http://View.ly video website uses Ethereum and I hope Viewly doesn't become maybe too expensive, slow, problematic, or vulnerable of DOS or something. Dan The Man, thanks for writing. I'm Oatmeal.
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@johnsmith ·
$9.76
Do the ICO on Bitshares, leave this ETH garbage behind!
๐Ÿ‘  , , , , , ,
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vote details (7)
@educatedwarrior · (edited)
I think this is the best suggestion of all.  Do the ICO on Bitshares.   Or even do the ICO on Bitshares and ETH at the same time.  I remember back in the days of the Bitshares ICO, you were able to contribute BTC or PTS.
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@jyezie ·
I would bet, safe bet, that we are going to see ICO that use different means at the same time. Like mobile go used waves and ethereum token, we might see ICOs that spread around different blockchain. I would only find that natural, even if the question of the price is a hard one.
properties (22)
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@kendewitt ·
$0.33
I think that maybe the idea of doing the ICO on ETH is a marketing move. A lot of people on Bitshares are already aware of EOS. I just hope the Ethereum blockchain doesn't collapse under the pressure of all these other ICOs while EOS is using it. I'm sure Dan and his team have a backup plan.
๐Ÿ‘  
properties (23)
authorkendewitt
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vote details (1)
@tyty24 ·
Hi @johnsmith & @kendewitt I am new to this....but why do you thing Dan would use the ETH Blockchain instead of the proven Bitshare platform??
properties (22)
authortyty24
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@obl1qu3 ·
I feel like ETH will get hurt again with an EOS ICO on its network haha
I guess thats good marketing for EOS itself
properties (22)
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@jwolf ·
$1.01
Wow, why your money is showing like that?
๐Ÿ‘  
properties (23)
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vote details (1)
@jyezie ·
this assumes that steemit.com would not be DDOS. Since this is the main entry point on the Steem blockchain, this would be an issue.

You also assume that the block producer won't be ddosed and can reliable tell an order, which I doubt. 

I think your example is taking too many shortcut to work. In real life I assume it would take more than one block to settle down.

But overall, I think we wouldn't be bloated more than, worst case IMHO, 30 minutes.  It is interesting to see the different proposal for ICO(eos, new smart contract standard,...)
properties (22)
authorjyezie
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@kingzeus ·
I'm feeling totally geeked right now...Thanks.
๐Ÿ‘  
properties (23)
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vote details (1)
@kus-knee ·
Honestly, I didn't understand everything that you wrote there but what I do understand is that I'm glad that I've invested in projects that have been built ny YOU!
properties (22)
authorkus-knee
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@sk2045 ·
$0.18
Hey.. you are such transparent guy. People are upvoting simply by seeing their Steem power but you frankly spoken you didn't understand. Appreciated your frankness
๐Ÿ‘  
properties (23)
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vote details (1)
@kus-knee ·
Thanks!
properties (22)
authorkus-knee
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@lazarescu.irinel ·
$0.08
I appreciate your post on Ethereum! 
After reading this I feel an urgent need to sell my ETH. 
The fees are already high for a two-year cryptocoin. Thanks. UpVote, Resteemed and Follow you @dantheman . 
https://media.giphy.com/media/jsUMmPGb9uMNy/giphy.gif
๐Ÿ‘  , ,
properties (23)
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vote details (3)
@maruharraca ·
Thanks for sharing!
properties (22)
authormaruharraca
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@mayla · (edited)
@ nonagon Vitalik Buterin steemit interview quote:
"In general, I don't think "eliminating gas" is a good idea. There are just too many advantages for the paradigm."
Makes one wonder-
Cui bono from that paradigm
properties (22)
authormayla
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@mf-tzo ·
$0.28
Please accept bitassets such as bitusd for a small portion of the ICO..
๐Ÿ‘  
properties (23)
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vote details (1)
@mikej ·
I hear a lot about ethereum not being a real cryptocurrency and it's predicted to crash. However, it is backed by corporations and Wall St. and also has the support of mainstream media. Obviously, they don;t like seeing people make a lot of money with cryptocurrency without getting their share so they made thier own to profit from. The founder of ethereum has sold a large percentage of it too.
properties (22)
authormikej
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@mishad5 ·
good
properties (22)
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@mmatrics ·
**Very interesting.**
 Glad to hear that the STEEM model has more to offer to other potential projects. I liked the interview with Vitalik and will also be interested to hear more about those advantages.
properties (22)
authormmatrics
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@mobilebestdeal ·
This is good
๐Ÿ‘  
properties (23)
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vote details (1)
@modprobe ·
$60.96
Personally, I like the idea of using Eos itself to do the Eos token sale. Launch an Eos chain with a smart contract to track payments (SPV should do it, if I'm not mistaken) to the token sale addresses on various other chains... allocate EOS tokens once enough confirmations are in on the foreign chain... It's relatively easy to support several chains, and people would be able to buy into the token sale on any platform.

Of course it's work, and takes time to implement, but I think it would yield a better result than trying to flood Ethereum, as fun as that would be. My approach might still crash Ethereum, since any eth holders who want to buy in would probably still do it on the Ethereum chain, but (1) non eth users won't have to buy eth to participate, and (2) non eth users won't have to pay insane fees to participate.

A technical question to answer is, who provides block headers and SPV proofs from the foreign chains to Eos? Well, I think anyone could. The point of blockchains is that we can track them without trusting the data sources.

Another important question is, how do we value the contributions on one chain as compared with another in EOS tokens? There's a lot of possibilities for this, it's just a matter of picking a sane one.

Overall, though, I think using Eos to do it's own token auction, even though it would push back the timeline, would be a more attractive strategy to investors, better marketing, and it would demonstrate the technology live.

On Ethereum alone, we should expect the Eos token sale to denial of service its own platform; does that sound like a good idea? Remember folks, an $85 fee wasn't enough to buy into STATUS. How high of a fee will be required to buy EOS?
๐Ÿ‘  , , , , , , , , ,
properties (23)
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vote details (10)
@freshstuff ·
thank you for information ,without you ,i wouldnt be here where im atm :)
properties (22)
authorfreshstuff
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@johnsmith ·
$38.89
I think the issue with this approach is that the EOS blockchain does not exist and will not be functional enough to handle something like it's own ICO for roughly 12 months... and the ICO funds are intended to be used to create the EOS blockchain over the next year. Cart before the horse.

Just use Bitshares, which is a robust and mature Graphene based blockchain. You don't get a smart contract but you also don't need one - many, many successful ICOs were done without smart contracts (including AGS, which is what funded Graphene).

People send BTS to a Bitshares address and get EOS tokens sent back. Easy.
๐Ÿ‘  , , , , ,
properties (23)
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vote details (6)
@modprobe · (edited)
$3.23
Yeah, but who wants to run that server and guarantee perfect uptime and results for a year? Who wants to verify that whoever ran that server didn't do anything funky? A smart contract is a much better option all around.

As to the suitability of the platform, granted, it would essentially be a test net for tracking real money, but I'm not suggesting Eos at full capacity with user-provided contracts or anything. I'm talking about a chain with just a few contracts built in, rigorously tested, demonstrating how the user-provided contracts will work and interact in the final release.

The hard parts in implementing Eos, the parts that will take a long time, are the novel parts: getting the VM ready for untrusted code, getting the parallelism working stably, optimizing all of that at the end...  all the stuff no one's ever done before. The components necessary for the token sale, on the other hand, are comparatively small and not particularly novel, and thus will be faster to implement.

(Edit) Of course, these are just predictions and opinions, and I could always be mistaken. But I'm still thinking there's something here until someone convinces me otherwise.
๐Ÿ‘  
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vote details (1)
@lexiconical ·
$32.05
I thought that would have been a great idea for the Eos token sale too, but I have no idea of the technical limitations. Due to the state of the Ethereum network, I'm not sure I'll be able to get in on it. Good luck to those who do.
๐Ÿ‘  ,
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vote details (2)
@sk2045 ·
You studied and understand this article very detailed. Also you already shoot my doubts on this article. Appreciate your analytical skills. Upvoted to your comments and following you
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@muftykutink ·
$1.72
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vote details (29)
@najoh ·
$1.00
Hello, I believe the ICOs are not below market, but the market is in a big bubble. Are those tokens worth that price ? The answer is no, but people are investing like crazy in them because of hype. Uncapped ICOs will lead to the ICO market auto destruction in my opinion. The bubble will burst once everyone is uncapped, money supply is limited. You can't invest billions in each ICO.
๐Ÿ‘  , , ,
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vote details (4)
@dantheman ·
$0.92
Market is what people are willing to pay, not what something is "worth" in your opinion.
๐Ÿ‘  , , , ,
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vote details (5)
@decentral ·
Exactly :) Same here with upvotes, downvotes and whether certain post is "worth" its payout or not.

PS
Please, throw some ETAs, I'm not that patient to stare on telegram for days ;)
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@najoh ·
$0.86
In a bubble the market is out of sync with real values and people will pay "over the real market" prices because of greed with the only hope to make a quick buck. Tulips contracts were never worth what people paid for it, once the hype came down all the speculators were ruined. The same will happen here.

ICOs bubble will pop and the market will mature like internet did. In the mean time a lot of people will be ruined.
๐Ÿ‘  , , , ,
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vote details (5)
@mishad5 ·
$0.04
i pray for all
๐Ÿ‘  
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vote details (1)
@tzs ·
Do you know the value of some of these coins outside of their market cap evaluation? I'm wondering about the number of users, daily interactions or if the coins have any monetary value from products made by users.
๐Ÿ‘  ,
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vote details (2)
@najoh ·
$0.77
Most are worth nothing or close to nothing. Its all speculation. 98% of todays blockchains will be dead in less than 3 years.
๐Ÿ‘  , , ,
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vote details (4)
@nationalpark ·
Thanks for sharing
๐Ÿ‘  
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vote details (1)
@necrus ·
I do not understand it very well, I'll read it again calmly. Bitshares, steemit, eos drives me crazy ..... I want blockchain technology!
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@pal · (edited)
$16.40
So are we still expecting the EOS ICO to be on Ethereum platform? ๐Ÿ˜‰
๐Ÿ‘  , , , ,
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vote details (5)
@pal ·
$19.55
You could do it on STEEM. Participants will be voting for posts and tokens will be distributed based on vote weights.
https://steemit.com/cryptocurrency/@pal/eos-like-crowdsale-on-steem
๐Ÿ‘  , ,
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vote details (3)
@pocketechange ·
You really need to visit my posts and let me know what you think about my P.C. Theory...
@pocketechange
properties (22)
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@rlamasb ·
$1.01
Hey @dantheman, this post came #48 on the Top 50 posts on Steemit for last week!! If you want to see the full list, click [here](https://steemit.com/stats/@rlamasb/top-paid-post-of-the-week-june-18th-23th). Cheers mate!
๐Ÿ‘  ,
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vote details (2)
@ronmamita · (edited)
@dantheman Hi Dan!
I've only been with steem for a month and I like how your programming tackles the blockchain issues with social media and a blockchain operating system leading the way for mass acceptance and operability.

I recall my professional career where I sought strategies to keep high morale, quality assurance, and safety by incentivizing new and junior workers. They are generally the most likely to see problems or suffer low morale.
With that observation in mind I offer these requests to be discussed by blockchain programmers and applications developers:
* Great potential for censorship abuses - the flag/mute feature
* The popularity meme - whale surfing is the culture, rather than quality content
* missing user-friendly features common to most social media platforms (and vital for blogs) - resteems clutter profile pages and lack of filter/search features makes it a massive chore to find my own posts!
* I did not expect to run into bandwidth problems - I have started getting this error message too frequently: "bandwidth limit exeeded. Please wait to transact or power up STEEM." (Why the misspelling is still in the program, okay no biggie) but it stops me from posting original content and replying to a comment.

I know you have left steem but please share these concerns in discussions and with programmers so improvements and advancements can flow.

Thank you for all your wonderful efforts and wishing you joyful living!
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@roshania ·
Looking forward to it
properties (22)
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@senor ·
Yes yes EOS.
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@sk2045 ·
$0.78
Hey I agree your statement but I am unable to understand the pros & cos about the ICO.  What is the fee will be required to buy EOS? Please advise
๐Ÿ‘  
properties (23)
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vote details (1)
@splendorhub ·
@dantheman This reminds me greatly of what is going on with Bitcoin. The situation will worsen. Best wishes, and Happy Holidays. - @splendorhub
properties (22)
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@joeyarnoldvn · (edited)
$0.05
I like Steemit. I agree with you that Bitcoin were running into bumps in 2017 & forked. And Ethereum had some bumps too. I am looking at the http://View.ly video website built on Ethereum and I am trying it now. I am reading this post from @DanTheMan that you commented on here. I hope for the best for Bitcoin, Ethereum, the competition, and everything. Thanks for being on Steemit, Barbie Girl.
๐Ÿ‘  
properties (23)
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vote details (1)
@steem360 ·
$2.94
It reminds me the old days of microcomputing. Dbase4 was a technical disaster with mainstream adoption. It was everywhere in all magazines and corporations were looking for Dbase4 developers. This trend lasted approximately 2 years. But, it introduced indexed data to that market, so in a sense, it was a necessary step. Ethereum is a necessary step to EOS. It paved the way for smart contracts. It still is an ideal Platform for a POS token ICO, until EOS is available. Stay sharp @dantheman
๐Ÿ‘  ,
properties (23)
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vote details (2)
@marco-delsalto ·
$1.43
I like and agree with your analogy..
๐Ÿ‘  
๐Ÿ‘Ž  
properties (23)
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vote details (2)
@steemit-life ·
So I'll be waiting for you to construct that "Million Dollar Giveaway" on EOS @dantheman:)
properties (22)
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@steemitboard ·
Congratulations @dantheman! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@dantheman/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@dantheman) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=dantheman)_</sub>


**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steem/@steemitboard/happy-birthday-the-steem-blockchain-is-running-for-3-years"><img src="https://steemitimages.com/64x128/http://u.cubeupload.com/arcange/BG6u6k.png"></a></td><td><a href="https://steemit.com/steem/@steemitboard/happy-birthday-the-steem-blockchain-is-running-for-3-years">Happy Birthday! The Steem blockchain is running for 3 years.</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
properties (22)
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@steemitboard ·
Congratulations @dantheman! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@dantheman/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@dantheman) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=dantheman)_</sub>


**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steem/@steemitboard/happy-birthday-the-steem-blockchain-is-running-for-3-years"><img src="https://steemitimages.com/64x128/http://u.cubeupload.com/arcange/BG6u6k.png"></a></td><td><a href="https://steemit.com/steem/@steemitboard/happy-birthday-the-steem-blockchain-is-running-for-3-years">Happy Birthday! The Steem blockchain is running for 3 years.</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
properties (22)
authorsteemitboard
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@stellabelle ·
wow, I doubt most people even know about this. Thanks for educating everyone!
properties (22)
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@teamsteem ·
Aaaaand that's that! Take that whoever is suppose to take that. 

Once more, a very enlightening post for a lay person like me.
properties (22)
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@the-future ·
$2.66
There are so many ICOs on Ethereum blockchain on this moment and more others to come and it's just a matter of time until it will face another big problem like it was with the DAO tokens!
Things being said,  I still don't understand why people don't use steem to make a transfer! Is the easiest and faster way to send your money with no fees!
Is there a chance that people could make ICOs on the steem blockchain? I think that will make steemit and steem amazing!
๐Ÿ‘  , , , , , , , ,
properties (23)
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vote details (9)
@chrisaiki ·
I am doing a pre-launch on steemit
https://steemit.com/solar/@solarcoach/solar-coach-pre-launch-annoucement
๐Ÿ‘  ,
properties (23)
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vote details (2)
@theabsolute ·
Those fees can make or break cryptocurrencies. For $85 it must have been a massive transaction.
๐Ÿ‘  
properties (23)
authortheabsolute
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vote details (1)
@dantheman ·
not massive, a minimal transaction.
properties (22)
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@lexiconical ·
It's like that tricky surge pricing on Uber! Rascals.
๐Ÿ‘  
properties (23)
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vote details (1)
@tommyquest ·
very edifying! everyday i learn more, something useful and/or new. i love this place!๐Ÿ˜‰
properties (22)
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@tonyndrews ·
This comment is unrelated to the post, but @dantheman **why don't you power up?** 
Is there a specific reason you have all that steem and only 104 Steam Power?
properties (22)
authortonyndrews
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@topsnav ·
this is the future of crypto..
๐Ÿ‘  
properties (23)
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vote details (1)
@treeleaves ·
always one of my favorite writersโ€ฆ good sense can be hard to find.. thanks
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@vidallia · (edited)
$0.08
![eos](https://s12.postimg.org/mgrcs3qct/1ef.jpg)
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vote details (3)
@witze ·
Do you have any news, when the crowsale will start ?
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