No one is going to use it to do anything, but it's sitting up at 15 bil market cap. Currently operates at a whopping 5 to 7 TPS, which makes it as bad as bitcoin for the time being in transaction volume.
On the forums, they are feeding us fairy tales of a billion transactions per second. They need to demonstrate that on a test network. Even if it does a billion TPS, what's the response time for a blockchain event? Less than 3 seconds?
I certainly could do more research, but the crypto market loves to bid-up junk projects with fancy websites and technical specifications making huge promises while currently delivering nothing. This looks like one to me.
EOS to me is different because Dan has built 2 other long-term successful projects that deliver on promises. So if he promises something, I'm apt to believe it where other projects could take 5 years to deliver on their promises and become obsolete while they are building them out. Will Cardano be running 1 billion transactions per second before June 2018? That's when EOS goes live with 1 million tps and sub 3 second response times. Cardano will probably still be twiddling its thumbs under 100 tps.
I see what you mean. I agree that it's all too often that a new shitcoin comes out every week with a flashy website claiming millions of TPS when there's no product, no testnet, no nothing, just a shitty whitepaper with some equations on it that people skim because they can't be bothered to read it.
I agree with you about EOS - I've been following BitShares for a while and I got me some when they were around 40 cents, but unfortunately I went into EOS way too late and it skyrocketed to a point where it became essentially too expensive for me (lol). After this recent correction I got me like 100 units of EOS but I'm keeping by BTS. I have some ADA because it seems that the hypetrain is not going to stop and I'll probably pop back whatever I have in ADA into either XLM or EOS before main-net for EOS goes live.
Thanks for the reply!