Blockchain 30 that cant even keep an airdrop

Textual content | Xin Nan Editor | Lu Xiaoming
Produced | (ID: o-daily)

The last time the projects that received much attention due to mainnet congestion were Ethereum cat and Ethereum in 2017. Minimal one can expect that EOS, which is referred to as the most powerful public chain, will be clogged in a little airdrop by raising 4 billion US dollars.
Some individuals say that EIDOS didn't donate to the ecology, but debunked EOS's lays. Others believed that EOS with this occurrence was a tale, and BM should thoroughly consider revising the EOS useful resource design.
After an airdrop farce that drove the wool party crazy, the pain point of the shortage of EOS mainnet resources was lifted before everyone, and people began to consider what lengths EOS is from blockchain 3.0.
The wool mining was so scorching that it smashed the network and increased the CPU on November 3, only two times prior to the official start of the EIDOS airdrop.
A Weibo of HelloEOS Zi Cen revealed an astonishing number: The number of transactions of EIDOS's clever contracts in a day reached approximately 9.17 million, having a peak value of nearly 620,000 each hour. During the exact same time period, the DApp with the biggest 24-hour transaction volume on ETH had been only 4132 situations.
With this data alone, EIDOS is worthy of being included in the history of EOS.
EIDOS is known as a zero-cost airdrop. The guideline is the fact that users can exchange any level of EOS towards the project party's account eidosonecoin, and the smart agreement will return exactly the same level of EOS and present free of charge 0.01% of EIDOS within the eidosonecoin account. The total flow of EIDOS is 1 billion, and 800 million can be used for airdrops. According to the rules, EIDOS produces 25 per second, and the airdrop will last for 15 months.
On the other hand, what is more attractive is that EIDOS comes from AP, the founder of Avocado, the initial airdrop project within the currency circle.
At 4 pm on November 1, the airdrop officially began.
The zero-cost fleece game instantly attracted a lot of fleece parties to enter the market, and they started to frequently transfer funds to the EIDOS project account.
Some wallets have also seen good opportunities for EIDOS to acquire customers. For example, mykey and TokenPocket have launched EIDOS mining devices to provide users with EIDOS automatic transfer and mining services. Although they're not necessarily mining, the move of funds to acquire airdrops can be seen as a mining action, so customers who frequently exchange funds to acquire airdrops are also collectively known as "miners."
In a short period of time, hundreds of thousands as well as an incredible number of users have initiated transaction applications to the EOS chain.
Dappreview data demonstrates on November 1, the amount of transactions on EIDOS exceeded 5.4 million. Needless to say, this was just the beginning. In the next days, the amount of EIDOS transactions rose. On November 2nd, the number of EIDOS transactions exceeded 10 million, and on November 3 it nearly exceeded 15 million.
Such a hot trading enthusiasm indirectly resulted in the "collapse" of the EOS network.
How did EIDOS, a casino game that had already been scheduled for victory and defeat, defeat the EOS system?
This also begins using the resource design of EOS.

Unlike Bitcoin and Ethereum networks, EOS network is recognized as zero gas charge. As long as you have a certain number of tokens, you can use a certain proportion of network resources for free.
At the moment, the three major resources in the EOS system are: network bandwidth resources (World wide web), CPU computing resources (CPU), and operating storage resources (RAM). Among them, CPU is one of the most important primary consumption assets for users in transferring money.
You can find two techniques users can obtain CPU. One is to pledge a particular percent of EOS to acquire CPU; another is to rent idle CPU resources from others through a third-party leasing system.
Then why is the CPU resource congested?
In fact, in the EOS network, the amount of CPU resource allocations obtained through pledges fluctuates instantly.
Through the formula, the CPU that a user can obtain in 24 hours = (the quantity of EOS pledged by a user as CPU / the quantity of EOS pledged by the complete network for that CPU cost) x 24 hours of CPU allocation.

(The picture originates from MEETONE)
Quite simply, when the number of EOS that is mortgaged for CPU resources within the EOS network suddenly increases, the user's available CPU resources will decrease.
With this EIDOS token airdrop event, if you want to continuously get free airdrops, you must constantly transfer cash to the account from the project party, which takes a steady blast of CPU resources.
What goes on if CPU assets are insufficient? Once the obtainable CPU in the user's hands is constantly on the "depreciate", the user may overuse the CPU anytime. When the CPU in an account is 100% exhausted, no more transactions can be initiated, as well as the accounts is also at risk of deactivation at any time.
When many people are frantically collecting money through transfers, you can't do anything without the CPU.
But no one will view the fat slide from under their noses. In click to learn more to carry on mining, the made of wool party has started to mortgage EOS in trade for CPU, and also buy sources from rental marketplaces such as for example REX.

As the amount of users staking EOS in trade for CPUs on the complete network continues to improve, the CPUs available to users continue to shrink. At exactly the same time, the price of CPUs can be rising.
A vicious circle of CPU assets becoming more and more scarce and CPU costs becoming more expensive has begun.
Even though previous wave of DApp mining has also experienced a famine of CPU source shortages, DAppTotal reported the fact that craziness of EIDOS is beyond imagination and has far surpassed Dice, HashBaby, and other tasks that dominate the EOS DApp ecosystem for quite some time.
Experienced people have already noticed the essence right behind this. Some netizens gave an evaluation: Behind the CPU famine due to this airdrop, individuals who rented the CPU with big money for the very first time are usually earning money.
Designer Qiu Xiaoshan keeps a similar view. He believes that apparently one-and-a-half-year-long EIDOS submission game actually chose the champion on the initial time: "This gameplay is in fact not zero. , However the competition of CPU processing power. On November 1st, the local rental ratio of REX was 20%, and today it really is 80%. The price tag on CPU raises exponentially with this ratio, so if you lease the CPU on the initial day, you earn ."
"On the first day (leasing the CPU), the miners repaid in one day, and the rest was profit, which could be 0 for 29 times. The others had been so lively, these were all running with them. Afterwards miners worked difficult, digging every day, In the end, you may not have the ability to repay." Qiu Xiaoshan mentioned.
Afterwards, Qiu Xiaoshan calculated the cost of the previous and new miners within an article. In accordance with his statistics, the mining price of the brand new miners has been 17 times the expense of the miners who rented the CPU on the initial day.
The fire in the gate of the city caused Chiyu to advertise the usage of idle EOS resources, and eventually became the principle culprit for seizing EOS mainnet resources. Regular users in the EOS chain became the first "sufferers."
In accordance with PeckShield data, 80% of transactions for the EOS mainnet on November 1st were related to this airdrop. The EOS accounts of ordinary users cannot transfer funds and use DApps normally since they don't have enough CPU.
"Because in fact, because the transaction volume has been relatively little before, a large number of customers thought that a home loan of 0.1 EOS has been enough, but because the transaction volume increased, this amount had been far from enough." Programmer Qiu Xiaoshan additional examined this to reporters. The reason why.
Not only that, at this time once the CPU works out, no matter how much EOS you might have in your wallet, there is absolutely no way to save.
"Currently, you can find only two methods for getting CPUs insufficient. One is to purchase CPUs through fiat currency through a CPU leasing service provider; the other is by using other accounts or friends for assist." Qiu Xiaoshan analyzed.
In essence, EOS's resource model is similar to a highway, as long as they are ready to pay, all transactions can be very fast.
Qiu Xiaoshan believes that the existing EOS is actually not blocked at all, but EOS transactions are very expensive, a lot of users cannot start transactions.
That is indeed the case, and people are indeed very worried about the network's rate: "I have not successfully sold coins for several days, and the consumption of leased resources is most likely higher than the gas fee."
"When Ethereum is blocked, this means that the transaction fee is reduced and the transaction fee is reduced. The exchange can arrive faster if you invest a small amount of the transaction charge. If EOS really meets the passion of cats in those days, the transfer price is estimated to be extremely high." An industry insider analyzed. Tao.
If a few more EIDOS tasks come in the EOS system, perhaps everyone will have to adjust to the EOS that should be pledged for CPU transfers in the chain for an extended period of amount of time in the future, which may far exceed the quantity of EOS transferred.
After this assault test, EOS's performance disappointed a lot of people, plus some even commented onto it: ¨EOS's million TPS is a joke. The emergence of EIDOS demonstrates how rubbish EOS will be. ."
The project party on EOS is becoming another wave of "victims" with this CPU famine farce.
Since EIDOS went online and started the airdrop, CPU resource congestion around the EOS network is among the most norm. In accordance with DAppTotal information, on November 2nd, EOS top DApp data had been severely affected. For example, the amount of transactions and customers of top apps such as for example Dice, EOS Knights, and Newdex decreased by 80%-99% compared with the previous day. .

(Picture comes from dapptotal)
Not just that, but from the overall EOS DApp data, the 24-hr daily action, 24-hour transaction quantity, and 24-hr transaction number of each DApp before few days are virtually all popular.

(Image screenshot at dapptotal)
A meager profitable video game of wool, alternatively, pulled other task teams in to the water, which also caused practitioners to complain: "With this particular kind of network situation, who can safely put their projects on EOS in the future? It really is an excessive amount of for other tasks. Not responsible any longer."
The congestion of EOS network resources is not alleviated, but has intensified.
At the existing price, in REX, 1 EOS could be rented for 154 EOS for thirty days. Nevertheless, at 18:00 on November 4th, all EOS in the EOS REX finance pool have been rented out, as well as the lessor could not sell REX in time to redeem EOS, and tenants cannot rent cheap CPUs through REX to utilize the DApp on the chain.
In other words, not only was there a famine in my own CPU, but also the public Strategy B was gone. Because of this, the EOS mainnet congestion could be further expanded.
To become a blockchain 3.0 public chain, EOS even now has a long way to go. Of course, the wealth of EIDOS is not sustainable, and almost everyone is doing one-off transactions.
In the secondary market place, miners may also be constantly shipping. Through the perspective of currency prices, because of the lack of solid support, EIDOS's secondary market can be flat.
According to data through the Matcha Exchange, EIDOS surged to close to 0.3 USDT on the first day of investing, and then fell all the way. The currency price has recovered before two days, nonetheless it has never returned to the high point. As of press time, it reported 0.0557 USDT.

However, this carnival has taken people plenty of reflection.
Self-media blogger Blockchain William commented: "The setting of EOS resources is still not good. When nobody utilizes them, the assets are inexpensive, but once somebody uses them, if there are always a little more individuals, the price tag on the resources will increase."
Today, the storyplot of EOS zero handling fee appears to make sense just in a non-congested network.
"EIDOS vividly demonstrates a problem, that's, any public string blowing TPS and lower handling fees are useless." BTG core developer Yin Hang feels that any chain will eventually type a handling charge market, not a problem of source design, any style In the long run, marketization of costs cannot be avoided. It's just that the result of marketization issues with the high TPS and low cost of many chains.
"Behind any reference design is the stability of source and demand, as well as the handling fee should be market-oriented, but everyone does not believe it and touted growth + low dealing with fee. Today the negative instance is found." Yin Suspend said.
When raising 4 billion US dollars in financing, everyone thought that EOS will be the 3.0 from the blockchain. This actual battle has triggered people to reveal that EOS nevertheless has a good way to look from "Public String 3.0".
Like a node member, MEETONE founder Gao Feng admitted towards the imperfections in EOS resource design: "EOS resource configurations are indeed flawed, and it is very easy to wake up the congestion mode of the CPU."


Gao Feng further analyzed that in order to encourage maximum shift operation, EOS designed a active modification mechanism of CPU top and valley: "It's that the current threshold is set too low, which is super easy to awaken the peak state. But this can be done by changing the parameters. resolved."
An article in the MEETONE general public account as soon as analyzed this style in detail: in idle mode, it is possible to borrow someone else's CPU, as well as the allocated CPU is without a doubt 1000 times bigger than inside congestion mode. When the system is "congested", the initial calculation is used The pledge proportion is used. When the average CPU usage of each block before minute is greater than greatest extent_stop_cpu_utilization * target_block_cpu_utilization_pct, the "congestion" setting is entered. Previously, EOS also modified the focus on_stop_cpu_usage_pct parameter to improve the critical value of "congestion", producing the "congestion" condition more challenging to touch.
The tea cat of IMEOS believes that EOS congestion is both a good thing and a bad thing: ¨The bad thing is the fact that EOS is still not doing well in the instantaneous resource allocation, that may result in instant resource scarcity and congestion. Unreasonable reference allocation on EOS can be an economic crisis. Strengthen and optimize. The good factor is that many people are starting to pay attention to EOS's on-chain governance and EOS Dapp."
"The CPU is in fact sufficiently, however the instant source allocation rules do not allocate plenty of CPU. That is something that needs to be solved in the program code level. It will only become optimized for the code, and you don't have to change the bigger rule platform." Chamao mentioned.
However, objectively speaking, EOS, which is known as one million TPS, right now has a peak value of no more than 4000 mainnet data. If this speed is taken care of, EOS's ambitious ambition to become a commercial-grade public string may be difficult to achieve.
In addition, with this particular airdrop incident, another wave of investors who hold EOS but haven't used DApp entered the market, and an individual experience has once more become a content criticized by everyone.
The operation of EOS is indeed relatively threshold. It not only requires users to comprehend the network useful resource consumption rules in advance, but also demands users to constantly adapt to modifications in the network and personally lease and pledge in exchange for CPU. On the other hand, Ethereum's transfer charge model is definitely simpler and straightforward.
This airdrop incident allowed EOS to finally face the pain points. Although a little embarrassing, there are always two sides to the occurrence. Even though EOS continues to be far from the general public chain 3.0, it really is worth looking forward to, this "congestion" incident could have forced the community to develop the next wave of practical tools for the EOS ecosystem.