The EOSchat is a mobile client for the EOS network that will function as a decentralized social network that integrates many features for the users like being able to use digital currencies, make fast transactions and encrypted messaging features. The software is fully decentralized and it does not require a central server.
How Does EOSchat Work?
You will be able to chat while using all the features that blockchain technology can definitely help you like being able to send smart contracts and make transactions and transfers without even needing to leave the interface of the EOSchat.
The EOS platform was chosen because it is decentralized and fast, especially when you compare it with older blockchains like the Bitcoin’s. You may also use the app to access the whole EOS system via a small node that will be used on your smartphone.
You can also use the EOSchat as a crypto wallet. The company is considerably concerned with security, so it offers double private keys for its users and supports multi-level authority management modes that can be used to make your wallet lighter and more secure.
What Are The Advantages of Using EOSchat?
The main advantages of using this software are its encrypted chat and the possibility of creating custom accounts. Other major features include the possibility of making cross-chain transactions and speedy transfers, which are something that you simply need to have in the current market.
The official release of this new product will happen in the middle of 2018.
The EOSchat Team
The team that makes this company is formed of the core team members of a former Facebook R&R team, the EOSchat site states. While the site shows information stating that team has experience and a long term vision, there is no information about who they are.
This is somewhat unlikely and could be considered a potential red flag for the EOSchat because it might mean that there is a reason why the team that has created this project did not decide to appear.
The EOSchat Conclusion
There are many new EOS platforms appearing in the market lately. Does this mean that this market is overcrowded? Maybe a bit, yes, but less than the market of Ethereum-based platforms, which makes up for the most part of this market.
Our opinion is that the EOSchat can definitely become a good platform but that will depend on some aspects and one of the most important ones is how accepted this platform will be. What will be the importance of a messenger app if nobody decides to use it? Only time will tell that for sure, though.