Why did Medipedia Move from ERC20 to EOS?
Medipedia is a blockchain driven healthcare service provider that eliminates the role of intermediaries in the growing health tourism industry. Medipedia’s decentralized healthcare app will offer a peer to peer matching and consultation services. Medipedia Token (MEP) owners will be able to avail transparent world class cost-effective health services. Earlier, MEP Token was based on the ERC20 standard of the Ethereum Blockchain.
Though Ethereum smart contracts offer unlimited processing for decentralized apps, scalability and transaction speed on the Ethereum network is limited. This is not a pressing issue during the teething stages but as the Medipedia network grows with time, the Ethereum smart contract framework will not be ideal for Medipedia goal of delivering real-time global standard health services.
To overcome this hurdle, Medipedia is now moving from the ERC20 Ethereum Blockchain to the EOS.
In this blog, we discuss the advantages that EOS has to offer over the smart contract based Ethereum blockchain.
Latency and Scalability remains a concern in Ethereum based dApps. The total number of transactions that can be performed per second in Ethereum is at most 10 (including smart contract transactions). This is very small and offers a great hurdle towards prompt and real-time solutions to service requests from users of decentralized Apps. The main reasons for this are that Ethereum employed proof of work or Casper protocol for validating the transaction. This is a very slow process.
On the other hand, EOS employs delegated proof-of-stake for validation and block creation. This enables Dapps on the EOS Blockchain Network to instantly validate millions of transactions.
2. No Fee for Transactions
Ethereum Blockchain users have to pay a small number of transaction fees for ether. Ether is synonymous with fuel that has to be burned to keep the transactions running. Ethereum is a sort of blockchain supercomputer that uses ether for transactions. Users have to pay a small fee in ether to the Ethereum Blockchain owners for transactions.
On the other hand, all transactions on the EOS Blockchain network are free. Currently, the user needs to pay a transaction fee to make an update in the ethereum blockchain. However, Medipedia users need not pay a fee for using the platform and can enjoy a hassle-free experience.
The DAO attack was a watershed moment in the history of Ethereum Blockchain. The network came at a standstill and ended with the split of the Ethereum Community. If a DApp exhibits faulty than it can be immediately frozen by the block creators until the problem is solved.
Other dApps parts of the EOS network are not affected at all.
Hence we see that on the transition to the EOS network, Medipedia will be able to offer a more robust and efficient service to token owners as well as platform users. Moreover, DOS claims itself to be the Operating System for Blockchain dApps. This along with other features like Parallel Processing and Governance will give MEP Token the transparency, security, and Scalability needed for a healthcare dApp.
For more information visit at https://medipedia.io/