Top 5 things you need to know before developing a dApp on EOS Blockchain
EOS is only 6 months old (Dec 2018), but it’s already one of the most used blockchains in the world according to Block’tivity and State of dApps. It’s the first carbon neutral blockchain, and it develops faster than ever.
With EOS becoming a top option for decentralized application development in 2019 we have prepared a short list of the top 5 things you need to know before developing a dApp on EOS Blockchain.
1. EOS is not Ethereum
One of the first things and probably the hardest for people to understand is that EOS is not Ethereum. Each blockchain is unique in its own way, and EOS is not an exception.
EOS stands for Exponential Operating System, that being said EOS is more complicated than some other blockchains. Fortunately, this is a good thing. For us to develop fast, fee-less, scalable and complex decentralized applications, we need the environment and the platform to do it.
We have already seen working dApps with a real market value like Karma, Sense, Infiniverse.
2. CPU, NET — Staking and unstaking EOS tokens
One of the key things you should understand about EOS is what resources it has and how it uses them.
In EOS Blockchain we have 3 types of resources: CPU, NET & RAM.
CPU — it signifies the processing time of an action. When you want to execute an action on the blockchain, it will take some time to complete. This time is measured in microseconds of CPU (µs)
NET — NET or Network bandwidth signifies the throughput capacity of the EOS network, and it’s measured in bytes.
Both CPU and NET are staked allocations. This means that to use them in our dApp we need to stake EOS tokens. Take a look at the following image:
Let’s say we stake 2.5 EOS for CPU and 2.5 EOS for NET. This corresponds to 31 200 µs of CPU and 10 000 bytes of NET. If an action of a dApp requires 700 µs of CPU to be executed, we can actually calculate how many times we can run an action when dividing 31 200 to 700.
In the example above we get 44. When we do all 44 execution, and we want to do more there are two options:
- Stake more EOS tokens for CPU and NET
- Wait some time to regenerates before using them again
Both resources are transient in nature. You consume them at a point in time, and then it regenerates for future usage. There is a fantastic tool called EOS Charge by EOS New York. Based on you staked EOS tokens it create a custom report of how many actions you can perform on the EOS Mainnet for each dApp.
Another thing you should know is that when you stake 2.5 EOS tokens for CPU and then unstake them, you will receive 2.5 EOS without any losses. When using RAM is a bit different.
3. RAM
The RAM is a precious resource on the EOS network. Everything we save on the blockchain is kept in RAM. This helps us to achieve speed.
Unlike CPU and NET where we stake EOS tokens to use them, the RAM is purchased. It’s important to calculate how much RAM will be needed for your dApp. This will help you minimize your costs in the first place.
You should also know that when data is being saved in the RAM, you can decide who is going to pay for it — the user or the developer.
4. Funding an EOS dApp
Finding funding for your EOS dApp is as essential as calculating your costs for CPU, NET & RAM before starting the development.
We have created a great article about Airdrop — The new funding model for blockchain startups. However, in this paragraph, we’ll talk more about the traditional models.
One model still used is the so-called ICO. We have seen projects like Sense doing their funding on Ethereum and moving all ethers to EOS with the EOS21 Protocol by shEOS.
I’m personally a bit skeptic about the ICO model at this moment and I prefer the most traditional one — Venture Capital.
Block.one created a Venture Capital with a fund of 1 billion dollars to help EOS blockchain based startups.
EOS VC is unique amongst venture capital endeavors as it focuses specifically on investing in projects that aim to help further build out the EOSIO ecosystem. This is part of Block.one’s mission to drive mass adoption of blockchain technology globally.
You have the opportunity to apply for funding through their form here.
5. One dApp — multiple blockchains
A lot of developers and entrepreneur coming from Ethereum or any similar blockchain still don’t know one the most exciting secrets about the EOS network.
You can build one EOS dApp, and then you decide to which blockchain you’ll deploy it — EOS, Telos, Worbli. Currently, any of the three (in the future there will be more) is bringing something unique to the table.
If you’re willing to learn more about EOS or you’re looking for some help, don’t hesitate to write us at info@infinitexlabs.com
About the Author:
Dimitar Dzhurenov is CEO/Founder at Infinite X Labs — Blockchain Development & Consulting company based in Sofia, Bulgaria. Founder of EOS Bulgaria and one of the most active EOS advocates in the Bulgarian community. His expertise in working with various blockchains, like EOS and Ethereum, help him not only to find the shortest and most optimized paths to bring ideas to life but to build solutions where they do not yet exist.
Originally published at infinitexlabs.com on December 18, 2018.
