Only 52% of EOS accounts are active - ICO Ratings
|- EOS network is cluttered with dead accounts that still hold coins worth of $17,000.
- The total amount of active addresses does not exceed 52%.
EOS has settled in top-5 cryptocurrencies according to CoinMarketCap rating. Being a popular coin with a total market value of over $2B it has the largest total transactions volume across over 600,000 accounts registered within the network.
The project claims to be an "Ethereum killer,» but there are some doubts that the protocol is really effective to beat its rivals. Experts of ICO Ratings applied the solution developed by Unchained Capital to see how cluttered EOS blockchain is. The tool was initially created to define the cluttered state of Bitcoin, so the analysts from ICO Ratings had to adjust in accordance with EOS structure.
It is essential to understand, that the number of transactions available for a certain user depends on the number of coins on their balance. That’s because users have to «freeze some tokens» on their accounts to make transactions. Thus, accounts with a balance are bigger than zero, but smaller than the cost of a transaction, are effectively dead. As they cannot be either used or removed, and they clutter the whole network.
ICO Ratings found out that currently there are over 190,000 accounts with an ineffective balance, which is nearly 30% of the total account number. They hold 6,981 EOS coins worth of almost $17,000 at the time of writing.
Considering that 115,000 accounts have zero balance, only 52% of all EOS addresses are really alive.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.