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Why is EOS falling so hard in 2020 (Why is EOS so weak)

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Why is EOS falling so hard in 2020, according to IMEOS reports?EOS has experienc

Why is EOS falling so hard in 2020 (Why is EOS so weak)

Why is EOS falling so hard in 2020, according to IMEOS reports?EOS has experienced a 20% drop within less than two months of its mainnet launch. The main reasons behind this are as follows:

1. The project team has sold a large amount of funds to Ethereum;

2. The competition between miners and exchanges is intensifying, resulting in a gradual decline in price, which is currently approaching zero;

3. Due to the inactivity of the EOS ecosystem and the lack of application of blockchain technology by developers, community members have started to pay attention to the development of the Ethereum ecosystem, but it does not have much impact on the coin price;

4. The Ethereum network is heavily congested and gas fees are high, discouraging many developers from doing other things, and most people still choose to purchase EOS with ETH;

5. Interacting with dapps on the Ethereum chain is costly, with a poor user experience;

6. EOS has a very low inflation rate.

Why is EOS so weak

According to IMEOS reports, EOS community members discovered a bug in eosDevnet. This issue is actually very important: due to high performance requirements for processing transaction data, EOS fails to meet those requirements. For a blockchain project to be successful, it needs a large amount of computing resources to run it. Therefore, EOS can fork or scale faster than other public chains, resulting in a large number of garbage transactions when the block capacity exceeds 1000MB.

So why is it done this way? Because as mentioned earlier, EOS is currently the weakest type of smart contract, and its code still has many vulnerabilities. And this is the fundamental reason for this issue.

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