 So this is what I want to do for the next let's say 90 days I want to actually be auditing and going through majority of the top 30 tokens on Coin market cap and the reason why I want to do this is very simple. I just want to educate you I'm gonna tell you what to invest in. I don't really give a shit about that I'm not gonna tell you what to buy or what not to buy or whether to trade I really don't care what I want to tell you or when I want to give you is a Necessary tools and information for you to do your own due diligence simple as that and one of the easy things that I Tell people who come to me towards an IC or a token is I tell them to do something called the lean canvas model Which is we use in a startup space is very simple Let me show you how it looks and I tell them to make this into a token lean canvas model And so pretty much is no different is you go through the ring over here. What problem is your new startup solving, right? What is the economics of that token? Why do you even need a token? What is the governance of that token who the participants? What's the governance or how's the economy outside of et cetera et cetera et cetera? And so pretty much you go through each single one of these boxes and you write out why on God's earth You need a token. What does it do? What's the governance? How's the token economics? Who's actually building this team or startup et cetera and so basically I'm not gonna go in order on coin market cap I'm just gonna go randomly things that make sense to me or things that More or less people wouldn't learn about and so that's how we're gonna go through this video is actually going from Each single section within this lean canvas now some as in this example right now will not maybe Fit in every single box because a little bit different because there's a big difference between trying to compare Ethereum to a DAB built on Ethereum, right? One's a protocol one is a DAB so for today's video What I want to be talking about is EOS The reason I want to be talking about is because it's in the limelight right now price is going up people are asking questions I'm like, okay, let's just do a little basic Dive on EOS and see where it's at and so the first thing you know for going back to the lean canvas model over here is What problem does EOS solve? Well, according to EOS, right? Let me follow my mouse over here EOS blockchain is aiming to become a decentralized operating system which can support industry-scaled decentralized applications So that's that and these are the two following claims They are planning to completely remove transaction fees, which is interesting You know, there's issues with that and there's also it's pretty innovative So there's in a double-edged sword and they're claiming to have the ability to conduct millions of transactions per second So to give you some example Comparing that to Bitcoin, which is roughly 34 transactions per second and Ethereum is roughly around 20 give or take if you have a DAB It's around seven transactions per second, right? So that's a problem trying to solve They're trying to solve this scaling of a decentralized ecosystem Okay Next so then you go down the lean canvas model. So the next one is is there any competition? Well, there's a bunch of them. These are just on top of my head. You got Bitcoin You got Ethereum you got Neo you got waves you got Qtum you got cosmos you have in the future polka dot etc etc, so there's many of these new let's say platforms or side chains are coming out to Compete in the in in the space of scalability. Okay, so they're not yes is not the only one doing there's many many other ones And also an eight and a on okay The participants like who's who's doing what in EOS? Well, yes originally idea comes from Dan Lamar, which is from steam and bit shares and pretty much He took bit shares evolved the code and this is what yes today. However the EOS Code itself I would say the production code not the code itself But the production of EOS is being produced by block one, which is a software company from the Cayman Islands. Okay So there's that and obviously there's Other investors involved. I mean There's a shit ton investors involved in EOS. I won't get into that yet So the governance like who makes decision within EOS, right? So EOS is delegated proof of stake It's much different than proof of work, which is a Bitcoin It's much different than proof of stake, which Ethereum will be maybe end of this year or next year So delegated proof of stake, this is how they define it EOS has a delegated proof of stake as a democratically elected block validators of the blockchain the term is used to interchangeably with block validator There's a small set of 21 delegates or you know masternodes who act as Masternodes in the network the job of the delegate is to sign and validate Transactions in addition to extending the chain These delegates are voted into office by the stakeholders of the EOS tokens if you have if you're if you're holding EOS token you'd be voting on who you want your Masternodes to be right so more or less like voting for politicians There's a lot of issues out as well and a lot of people are talking about these issues There's a lot of pros and cons to that one interesting thing though When it comes to the no fee structure so in a theorem It's a rental fee in EOS is a no fee structure is to just because you got to stake your EOS For these masternodes right so the cost of just of these 21 nodes per year would be roughly about $121 million so then $121 million expenses that EOS network will have to pay annually for these 21 nodes So the question is who's gonna pay for that, right? It's interesting question, right? There's gonna be inflation going on There's gonna be dilution of the EOS supply So it's gonna be fascinating to see how they are able to afford the $121 million a year to host these oops to host these 21 nodes or masternodes Okay, so usage of tokens So why even have an EOS token? Well, there's three main reasons why one to buy bandwidth space on the network to for storage and three as I just mentioned for voting Right so consensus you can use your EOS token to vote for block producers as I mentioned the 21 delegates by locking them up and creating Scarcity the vote locks up tokens for roughly six months But this length of time may vary and people are still trying to figure out if it's six months or more or less Then you got renting or loaning the token you can lock up the token for a DAC You like you could lend network capacity to an application that may pay you in their own tokens like passive income Which there's a lot of fucking red alarms and I hear passive income in tokens and then it's gonna be securities, etc etc Okay, then developing apps as a DAP becomes more popular the more tokens they will need to have more throughput, right? So you need more tokens to buy more bandwidth if you own a DAP, right? All these tokens allow the throughput are locked up and create scarcity So they're staking the token the DAP developer may choose not to rent these from the community So they don't have to pay in their own token So the thing is like if you want to create a DAP on EOS you pretty much have to stake your EOS tokens to buy bandwidth For this DAP to exist on EOS, which is fascinating. They're like really doubling down on this whole staking mechanism on EOS Health indicators really don't know may net has launched that that happens Sometime in June token distribution and value. It's hard to predict value as an investor Like I said beginning. I don't really care about investing prices, etc But this is an ongoing ICO that's been going on for a year and it ends about 30 days So it's fascinating to figure out the token distribution and all these different private sales and who bought what because it's a one-year fucking ICO Well final thoughts. Well, the couple of people in the industry are speaking about a Vitalik talks about because it's removing Merkle proofs and other protections without regular users auditing it. It might actually have issues with EOS For me besides What Vitalik said for me what's fascinating is The no-fee system and the staking system All right, so there's two big issues for me number one is if I have to pay for bandwidth And I know for a fact that my EOS token keeps on increasing and increasing. I will not use my EOS token To stake or I would not use my EOS token to buy bandwidth because it's valuable more valuable to me as an asset Same thing like Bitcoin we use Bitcoin around to buy bandwidth on the internet No, you're not going to use up your Bitcoin. You know that that Bitcoin might go 2x or 3x next year So it's an asset appreciating asset And so I see that issue with the whole velocity of that token And why would somebody just use it if they know that's going to increase in value Next big one and this isn't just for EOS. This is for Ethereum and all these other decentralized platforms is dApps I'm not sold on them. I think it's very rare use cases for dApps Extremely rare use cases and all of a sudden like you have this old dApp revolution I don't see too many things being dApps tell you the truth. There are some use cases like video games make sense um Yeah, there's other things I won't get into right now, but more or less like they're hedging on the fact Whoa my light went out They're hedging on the fact that there's going to be you know hundreds and thousands of dApp Developers on there and users which I don't see the real use case right now. I might be wrong Right. Sometimes I'm right. Sometimes I'm wrong, but overall EOS is a fascinating platform I'm excited to for it to launch because I'm a firm believer in more competition equals innovation More people pushing each other equals innovation and there is a saying the market's always right now in this case EOS being valued at this ridiculous amount like if we go to Oh, here we go on chain fx There we are My mouse is here Market cap is 27 billion dollars like That's crazy. It's not even launched yet and it's worth 27 billion dollars um The cool thing is if you look at github in the last 90 days, they have about 1500 lines of code that have been Oh, no, so that's not even lining the code. That's our commits. They have 1500 commits on github Ethereum has 219. Oh bitcoin's been doing a lot 443 I love this site way better than coin market cap on chain fx the solid solid website So for me, I'm looking at something that hasn't launched yet 27 billion dollars. It's 18 bucks I don't know 24 24 hour volume about 3 billion I don't know. I think is it overvalued in my eyes. Yes for something that doesn't even exist like Give me a break. You know, I mean, but then again, that's what speculations for and let's be honest with you With everybody most people here just make money. They're not here for actual technology building businesses That's what speculators are for anyways There's my quick overcap of eos It is a delegated proof of stake mechanism based on voting based on buying bandwidth within their ecosystem It can scale hundreds of thousand times fat Well, supposedly it can scale hundreds and thousands of times faster than bitcoin and ethereum And a lot of people are hedging on it. So you make your bets. Anyways, I hope this helps Always and remember always to use the lean canvas model like this, right? Simple problem scale growth economy governance. Like I said at the beginning not all things will be applied to all projects But it's a good Template. All right guys. Talk to you soon. Peace