A new independent study has indicated that storing data on the EOS blockchain is nearly as expensive as doing the same on the Ethereum network. In addition to this, the cost of creating an EOS account is estimated to be $17— something that many people would argue is quite unreasonable.
According to a Redditor who recently used the now controversial EOS platform, in order to deploy (d)apps within this service, users need to hold a substantial amount of native EOS tokens.
The related math is as follows:
“1 KB of RAM costs $4.44, so 32 bytes would cost you $0.14. Storing 32 bytes in Ethereum costs 20000 gas. So if gas price is less than 15 Gwei (it was 1 Gwei for a couple of weeks until the exchange incident), Ethereum is CHEAPER than EOS who promised to be thousands of times more accessible than it.”
With EOS continually being faced with a host of functional and constitution related issues over the past few weeks, the company’s reputation and image have definitely taken a substantial hit. People have even begun to question whether the project itself is a scam or not. Whatever may be the case, only time will tell what the future has in store for EOS.
Disclaimer
Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. CryptoMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
