The EOS project is months away from being a stable main net but there have been talks of securing and even distributing the data that comes from Tesla’s own electronic cars. The Tesla Ridershare platform is going to share some of the data from the cars with the EOS blockchain, as it has been announced by Rahul Sonnad. He is the Tesloop CEO and holds a very strong position in the industry.
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The interesting thing here is that the EOS blockchain can only handle very limited data when it comes to insurable events. Blockchains are not good at all in regards to infrastructure and they are also not good for renewing or even querying data. The choice of the EOS blockchain however is still considered to be a breakthrough, and this whole thing could easily turn into something really special.
It is well worth noting that even though Tesloop are using EOS, that does not mean that all of the data for Tesla cars will be in the blockchain. Interestingly enough, only certain cars will be kept in the actual blockchain and only some of the cars will be used for shared rides. It is another sign that blockchain is starting to be accepted in the mainstream and this is certainly good news.
For months now, blockchain have claimed continuously that they are able to handle large volumes of data. There are however limitations as to what this data can be, and there are also concerns that it won’t be able to handle faster or bigger loads of data without any error.
The EOS system would have to have a semi-centralised governance foundation and this should also handle apps fast enough so that it can eventually go on to handle real-time work. At this moment in time however, the system is only a mere prediction and the app performances are all based on hypothetical situations.
EOS is, at the moment, one of the most high-profile systems out there in the pre-launch stage. The EOS asset has climbed to the sixth position on the CoinMarketCap and it has risen to $5.99. In the past couple of days, EOS has actually hovered around $6 and this is in the market price and even in the daily auctions as well. It should be noted that EOS is even seeing a short-term recovery in the trading returns as well and this is something else that should be taken into consideration.
There are some considerable doubts as to whether or not the system will be able to live up to its promises. Some investors continually view EOS as being an alternative to ADA. Until this point, Ethereum was actually the leading platform and it also had smart contract layer as well. When you look at ADA however, you’ll find that it works as a payment specific blockchain. EOS is still operating as an ERC-20 token when you take a look at Ethereum.