But the project soon experienced difficulties.The sector is saturated with platforms, but overtime dApps will gravitate towards networks with the best underlying technology.Why EOS?
Based in the Netherlands, discussions with EOS began after Effect.AI was invited to the platform’s London hackathon in late September last year, ostensibly to be one of the event’s mentors, but also to meet some of EOS’ community members.[Aragon 1 Final From Results Network Vote]
“Effect.AI and the project are blockchain agnostic and we will always continue to look for technology that is most suited to the robust nature of this network,” said Chris Dawe, CEO of Effect.AI.
Effect.AI haven’t ruled out a possible return to NEO and Verspeek emphasised that the project will constantly be on the lookout for better solutions.Ethereum has particularly struggled over scalability.Feeless transactions turned out to be unsustainable due to poorÂ security.The project says they feel let down by the technological shortcomings of the ‘Chinese Ethereum’.“Our entire team sees that EOS is well ahead of most other projects in the space, on a technological, mass adoption, and community level.It also had a transaction per second rate 300 times greater than that offered by NEO, making it possible for Effect.AI to process more than a million transactions every day, a milestone it wants to reach by the end of 2019.Join the conversation on Telegram and Twitter!
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Effect.AI, which says it isÂ “blockchain agnostic,”Â considered other platforms, including Ethereum (ETH), TRON (TRX) and Tezos (XTZ), Laurens Verspeek, the project’s co-founder and chief architect, toldÂ Crypto BriefingÂ EOS “stood out above the rest.”Â
The platform offered advanced software, greater security, ease of use and good community, Verspeek explained.Switching platforms will help them expand their business, they claim.
Seven months in,Â one of NEO’s most popular dApps has decided to migrate onto EOS.Effect.AI was one of the most promising dApps in the NEO ecosystem.TheÂ ETH-based game Etheremon announced in July it was moving some of its operations onto the more scalable Zilliqa (ZIL) platform, asÂ Crypto BriefingÂ reported at the time.[Instamatch Corda Using Ripple Global XRP Platform To Test R3s].Because they needed higher throughput capabilities, EOS was their best option.
Effect.AI plans to have fully migrated operations and EFX tokens over to EOS by the end of April this year.[Resulted BTC Coin Gaining Why JPM The In Markets News Crypto Bitcoin Of In]
Effect.AI (EFX), a network for the development and trading of algorithms used in artificial intelligence (AI), said “disappointment in the performance of the NEO technology and concerns about the lack of direction of NEOâs future”Â meant they had little choice but to look for an alternative platform.The only NEO dApp to leave?
Today’s news will be a big blow.[Linius Virtual Video Tests Blockchain First Successfully World8217s]
To be clear, NEO isn’t the only platform that’s lostÂ dApps.These are the three main aspects we or anyone else should look for when looking at a blockchain.”
âThe Effect Network cannot be built on a blockchain of uncertainty,” he added.
The author is invested in digital assets, including ETH, ZIL and NEO which are mentioned in this article.[2018 8211 29 October Summary News Bitcoin]
The key takeaway here is dissatisfaction withÂ the underlying tech caused a project to leave for pastures new.Â Other NEP-5 projects may be evaluating their position; NEO will have to address these problems and address them fast.
Although a “good blockchain” for the initial launch, Jesse Eisses, CTO of Effect.AI explained that NEO had failed to deliver whenÂ “put to the test.”
He said:Â “the current implementation of the blockchain canât get to the promised transaction throughput and the smart contract compilers besides C# are still immature.”
Effect.AI decided to launch a dApp on the NEO blockchain back inÂ late 2017.Â The project’s two online marketplaces, Mechanical Turk (M-Turk) and Effect Force, which connect AI developers to paid contributors, finally launched in beta mode at the end of June – a month after the launch of the EOS mainnet.Â
At the time, Effect.AI said it had been attracted to NEO because of feeless transactions, multiple programming languages for smart contracts as well as the potential for rapid expansion brought on by increased scalability.[Vs LookAlikes Sportage Porsche Subaru Cayenne Tribeca Kia Vs]
More worryingly, Effect.AI said there was a lack of direction with NEO’s future and aÂ potential full reboot, known as NEO 3.0, would force projects to migrate over to a new platform anyway.