The Tesla (NASDAQ:TSLA) Ridershare platform will share some of the Tesla car data with the EOS blockchain, announced Rahul Sonnad, Tesloop CEO and co-founder.
However, the EOS blockchain will only handle limited data related to the car’s insurable events. Blockchains are not a good data structure for storing and constantly renewing and querying data, explained Sonnad. However, the choice of the EOS blockchain is still a breakthrough for the project.
It must be noted that Teslaloop using EOS does not mean all Tesla cars data would be kept on the blockchain, only some cars used for shared rides. But tis is a real-world case usage for the blockchain, and is yet another sign of mainstream acceptance.
Blockchain and the IoT
For months and years now, blockchain projects have claimed they are capable of handling the large data volumes of the still-hypothetical Internet of Things. However, there are too many limitations and requirements for governance to achieve faster handling of data without errors.
The EOS system would have a semi-centralized governance system, which should hypothetically handle apps fast enough to simulate real-time work. But at the moment, the system is only a prediction and the performance of apps a hypothetical proposition.
At the moment, EOS is one of the high-profile platforms that is still in the pre-launch stage. The EOS digital asset once again climbed to position six on CoinMarketCap, rising a bit to $5.99. In the past days, EOS has hovered around $6 both in market prices and on the daily auctions. EOS is also seeing a short-term recovery as trading returns.
But there are some doubts whether the EOS ecosystem would be able to deliver its promises. Some investors see EOS as an alternative to Cardano (ADA). Until now, Ethereum was the leading platform with a smart contract layer, while ADA only works as a payments blockchain, and EOS is still an ERC-20 token based on Ethereum.
This article appeared first on Cryptovest
