The EOS (EOS) platform release timeline is going pretty smoothly. Its Dawn protocol updates have been clicking along, right on schedule. Dawn 1.0 was released back in September, and Dawn 2.0 was launched in December. The third and final protocol release, called Dawn 3.0, has been slated for Spring 2018.
The vague release date window for the final installation finally got an update on Thursday:
— EOS (@EOS_io) January 26, 2018
Needless to say, fans of this up-and-coming Ethereum (ETH) rival got very excited on Twitter. But what are they excited about, exactly?
What’s Going on With Dawn?
The EOS team laid out in a Steemit post what the plans are. The Dawn 3.0 protocol is already being partially released. Well, while the full smart contract platform isn’t live, the Dawn 3.0 code is already on GitHub – meaning users can play around with it. They won’t be connected to the platform that’s actually functioning (Dawn 2.x), but they can make their own TestNet and play around with smart contracts.
As EOS put it in their Steemit announcement:
“Please note that the Dawn 3.0 code is still in Early Alpha and is not compatible with the current block.one-provided public TestNet; it will not be available in a public TestNet until the end of Q1 2018. In the interim, developers may create their own testnets with the new Dawn 3.0 code.”
How is it different from Dawn 2.x?
“Additional new features in the Dawn 3.0 Alpha Release include: deferred transactions, staking pools, a new currency contract, and a new emerging token standard. A complete list of new features will be included in the 3.0 Final Release notes, expected by the end of Q1 2018.”
People on the EOS Reddit Page are Already Using it
EOS has a very active social media following. Its fans actually think that it’s the next big dApp platform, and they have been patiently waiting for a full-blown system to launch. While it’s not easy while it’s not connected to the public TestNet, users can tool around and make their own coins.
In fact, people on the EOS Reddit page have been showing what they can pull off:
As you can see from the image above, people already have some lofty ambitions with their dApp development plans.
Why Ethereum (ETH) Should be Worried about EOS (EOS)
Ethereum (ETH) already has a lot of really strong dApp-supporting blockchain-based networks on its tail. Coins like Cardano (ADA), VeChain (VEN), TRON (TRX) and EOS are all developing systems that accomplish the same thing – but in a much cheaper, faster, and more efficient way.
Ethereum transactions are huge compared to this network’s free transactions (actually, each individual developer can decide if they want fees to be attached to their EOS-based currencies or not). And, thanks to the parallel structure of this protocol, it is infinitely scalable – while Ethereum transactions are notoriously slow.
In fact, this coin is frequently referred to as the “Etherum Killer.” It will be fascinating to see how fast these altcoins overtake ETH as the dominant smart contract-enabling platform.
Do you see it being replaced sooner rather than later? Will the Dawn 3.0 release mark the beginning of that process?
Interestingly enough, TRON (TRX) is also launching its full-blown product by the end of Q1 2-18 – who do you think will come out on top?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.