EOS is a remarkable digital Blockchain technology that is decentralized from the usual restrictions, red tapes and legalities of other financial institutions. It is designed to offer support to other existing digital platforms by providing all the necessary and required core functions at commercial value.
Decentralisation allows EOS to cut on the cost of transactions, speed, and efficiency in which online business transactions are made. The goal of EOS is to allow for decentralization of applications, enabling scalability and stability of the financial markets and eliminating all user fee.
EOS Operations
EOS has been sourced by a number of reputable institutions as a medium of online transactions. Some of these tech designs include Dpos consensus, 100,000+ TPS that have all realized the efficiency, ease, and stability of EOS. With parallel processing designed to ease scalability, it has enabled EOS to stay on top of the game.
The EOS platform allows developers to build decentralized applications, surpassing the restrictions available in the financial institutions. EOS works on the proof-of-stake model for EOS mining, which is faster compared to other digital platforms. EOS does not use a specific Blockchain language but uses C++ to build applications by its developers, an easy and efficient way in the development of decentralized applications.
History of EOS
The original developers of EOS are Dan Larimer and Brendan Blumer. Its initial release was on January 31st, 2018, although it is still under development awaiting its official launch.
At its inception, EOS offered buyers tokens that were traded on Ethereum platform, enabling a distribution network for users before its actual release. The acquired tokens enabled the purchasers to take part in the governance of EOS as a Blockchain in addition to providing bandwidth and storage. EOS is able to operate on various platforms, with no apparent restrictions.
Challenges faced
EOS has faced a number of disadvantages including the limit on the number of block producers, capped at 21. The veto power of purchasers is tied to the number of tokens purchased, with the power to vote, govern and make decisions related to EOS. Despite the challenges, EOS has remained as an ideal platform to transact business online as compared to other digital platforms.
EOS Performance
EOS is a secure platform, designed to allow purchasers to retrieve their accounts in case they lose their private keys. EOS is currently ranked 5th by market capitalization among established Cryptocurrencies globally.
There are over 900 million EOS coins available in circulation with a market capitalization of above $10 billion, just showing the vibrant and dynamic EOS platform. Currently, EOS is trading at $1.69. EOS is paired by other Cryptocurrencies enabling users to access, obtain and transact easily. Purchasers of EOS tokens are able to compare EOS prices on the various paired Cryptocurrencies enabling one to make an informed and timely transaction.
EOS is an amazing, easy, efficient and secure Blockchain that has laid its claim as one of the best Cryptocurrencies available on the online digital platforms.