MyEOSKit Review: EOS Crypto Token Wallet & Advanced Network Features
This service was created to make the lives of the EOS users easier. It has an online portal that can be used as a shop in which you buy stuff with EOS. The portal can also be a block explorer, a voting tool for block producers and a network monitor, meaning that this multi-wallet tool can be used to manage votes, create blocks, participate in auctions and more.
How Does MyEOSKit Compare To MyEtherWallet?
After a recent interview, users are wondering whether this product will be as good as MyEtherWallet. According to the co-founder of the project, Joseph Fanelli, the users can expect MyEOSKit to be even more useful and have more diversified features than the popular MyEtherWallet, given that the EOS network has more features than Ethereum.
MyEtherWallet is an open source app that works as a wallet for users that want to store ETH or ETH-related tokens (like ERC20 altcoins). It enables its users to control their funds by allowing them to hold their public and private keys. Because of this, they can use it as a wallet to interact with their tokens.
However, MyEOSKit intends to be more than just a wallet. It wants to enable the users to interact with the EOS blockchain while they are using their wallets. By providing the users with an efficient block explorer, the creators believe that MyEOSKit will make justice to its name of Kit instead of a wallet.
This way, MyEOSKit can quite a good solution for people who want an efficient manager of assets in the EOS blockchain, which can even help with the governance of the whole blockchain.
At the moment, the EOS is now on the version 1.1.0, which is more scalable for app development. The software kit was developed taking into account this new version of the blockchain to exploit its potential as it can. You can expect updates when the blockchain upgrades, which is a great advantage of apps that are made by the same team of devs that manages the network.
Also, in terms of technology, the EOS has the potential to surpass the Ethereum blockchain by handling thousands of transactions in a second against 30 per second like its opponent. While the two platforms are for different kinds of users, all reports seem to indicate that the EOS platform will be more important in the near future.
About MyEOSKit’s Creators, EOS Asia
The EOS Asia team created this software. EOS Asia is one of the top 21 block producers of the EOS blockchain and they are part of the governance team of the network. The representatives of the group have stated more than once that while it can be hard to be on the top block producers, staying there is even harder because the level of scrutiny is very high for them.
EOS Asia is specialized in decentralized apps for the EOS blockchain. The company already has two new apps planned to be used on MyEOSKit.
One of them is inspired by CryptoKitties and it is called EOS Gems. The game, as you might have guessed, allows the users to trade, collect, mine and fuse gems to create new ones. The other one is the Traffic Exchange Token (TXT), which is targetted at the advertising market.
The MyEOSKit Verdict
While the software is recent and it was just launched, we see a lot of potential in MyEOSKit. Will the claims that it will surpass MyEtherWallet true? That is almost impossible to tell right now, but a bright future is certainly ahead of the EOS blockchain and this app.