Thursday, May 06, 2021 12:07:06 PM
The aim of EOS is to build a decentralized blockchain that can process fast and free transactions. It will also allow smart contracts to be built on top of it, which will allow developers to release dApps. Not only this, but EOS wants to build a platform that functions like an operating system, which will make it really easy to use!
DApps are the future of the internet. There has already been over a thousand of them created on other blockchains.
Another aim of EOS is to be able to process millions of transactions per second. This would solve a big problem, as other blockchains can recognize smart contracts, none of them can perform that quickly! For example, even though Ethereum is the most popular smart contract blockchain, it can only handle 15 transactions per second.
https://zephyrnet.com/what-is-eos-blockchain/
What are the advantages of EOS coin?
EOS is not the first or the only currency to use blockchain technology. There is “Ethereum”, one of the most prominent competitors, as it ranks second in the cryptocurrency market after “Bitcoin”.
However, EOS offers several advantages, including:
Possibility of expansion
That is, the system’s ability to expand and grow, while maintaining the efficiency of its work, Bitcoin can conduct 7-12 transactions per second, while Ethereum conducts 20-30 transactions per second, while bank payment methods such as Visa and MasterCard make more than 30,000 transactions per second. This is why the EOS platform is designed with open capabilities, even exceeding the barrier of 40 thousand transactions per second in the testing phase.
Free token template
Most blockchain projects require the purchase of certain codes or «tokens», to reach the project for a period of time, while EOS has created what it called a free access model, which is not free in the absolute sense, but instead of buying distinct codes that are valid for a limited period, it is enough to buy EOS codes or Advance payment for permanent access to the development platform.
Development package
The development package, or development group, is a set of tools that allows developers and programmers to create and modify applications. The more sophisticated this package and size, gives programmers wider options. In this context, Block One presented a distinctive competitive development package that offers many options.
Authentication
The EOS platform enables users to create new accounts directly on the blockchain network, unlike many other projects that rely on blockchain technology. This option provides quick easy access.
Verify ownership
The EOS platform was created based on the verification model, as all computers on the network verify the number of tokens or codes each participant possesses, and the more the participant owns more currencies the more role he plays in storing and resolving data, which is known as proof of work.
This system is similar to the Bitcoin mining system, but it does not consume much energy and does not require much potential.
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Recent EOSUSD News
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- Elaborate Elon Musk deepfake crypto fraud uncovered in Hong Kong • Cointelegraph • 05/08/2024 11:47:21 AM
- Biden’s Homeland Security team taps tech elite for AI defense board • Cointelegraph • 04/26/2024 07:55:47 PM
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- Raise a Glass to ENO: ENO’s New Era of Wine, NFTs, and Social Connectivity • NEWSBTC • 04/25/2024 06:08:36 PM
- Healix Protocol’s HLX Token Presale Soars as Former Crypto Giants Return • ZyCrypto • 04/09/2024 02:39:13 PM
- History of Crypto: The ICO Boom and Ethereum's Evolution • Cointelegraph • 04/02/2024 04:05:00 PM
- Apple co-founder wins major verdict against YouTube in Bitcoin scam lawsuit • Cointelegraph • 03/20/2024 10:28:49 AM
- Bitcoin Mining Firm CEO Predicts Start Of ‘Supercycle’, What It Means • NEWSBTC • 03/05/2024 05:00:37 PM
- Two AI-Related Crypto Assets Rally As OpenAI Launches Text-to-Video Artificial Intelligence Model • The Daily Hodl • 02/18/2024 01:00:35 AM
- Ordinals Could Create Completely Different Bitcoin Ecosystem, Says Binance Research – Here’s Why • The Daily Hodl • 02/11/2024 09:00:12 PM
- Prosecutors call for hearing over lawyers representing Sam Bankman-Fried and Alex Mashinsky • Cointelegraph • 02/07/2024 04:29:30 PM
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- Algorand Foundation CEO’s X Account Compromised As Spree of Crypto Social Media Hacks Continue • The Daily Hodl • 01/27/2024 09:00:09 PM
- Google releases AI realistic text-to-video generator 'Lumiere' • Cointelegraph • 01/25/2024 02:00:00 PM
- Crypto Analyst Predicts Potential Trend For Bitcoin As Price Slips • NEWSBTC • 01/19/2024 05:00:07 PM
- Bitcoin Bearish Forecast: Analyst Signals Continued Downfall • NEWSBTC • 01/16/2024 11:30:14 AM
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- Web3 Projects Lose $2,020,000,000 in 2023 to Hacks, Rug Pulls and Phishing Attacks: Crypto Security Firm • The Daily Hodl • 12/30/2023 09:00:39 PM
- Crypto Analyst Predicts Major Price Shift For Cardano (ADA) • NEWSBTC • 12/28/2023 03:30:10 PM
- A Crypto Christmas Special With Jlabs Digital: Past, Present, And Future • NEWSBTC • 12/25/2023 06:01:05 PM
- Crypto's impact is 'tiny': Decentralize with Cointelegraph explores Web Summit 2023 • Cointelegraph • 12/19/2023 01:49:16 PM
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VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
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Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM