It performs this role by providing all the desired core operations. And so, this allows businesses and organizations alike to create Blockchain apps in a way that they remain exactly like the applications that are based on the web.
However, this Blockchain network claims to eliminate transaction fees and execute thousands if not millions of transactions within a matter of seconds. It has a token which is known as the EOS token. Nevertheless, the EOS Cryptocurrency has some key prominent technical designs like;
- 100000+ TPS
- Zero transactional cost
- Ability to alter encryptions
- DPoS consensus, and so on
A startup ICO for EOS finally got about $170 million in its first step undermining the critics and backlash they got from diverse representatives of the Blockchain sphere. Currently, EOS is rated as the fifth prominent digital currency in the globe according to market capitalization.
Benefits Of EOS
There are a handful of benefits EOS offers to its users. Some of which include.
EOS aims to offer a decentralized platform for hosting other applications, implementing smart contracts and the utilization of Blockchain technology for organizations. The Cryptocurrency also hopes to resolve stability problems that have continuously plagued the more prominent digital currencies like Ethereum and Bitcoin.
Elimination of transaction fee
Using a delegated PoS, i.e., Proof of Stake of the consensus protocol, EOS will disrupt and completely eliminate the regular fees charged before transactions are executed. With plans to be multi-threaded, i.e., it will be operated easily on diverse computer cores; the currency hopes to achieve its plan of eliminating transaction fees.
One of the primary targets of EOS is to be the first operating network to be decentralized practically. The EOSIO offers an ideal advancement environment for decentralized apps like BitShare; a platform that allows for the decentralized exchange of virtual currencies and Steemit; a social networking platform with financial incentives.
Moreover, the EOSIO platform will be dropping its vote for about twenty-one block generators during its launching period, and his will further verify and produce blocks within the block time frame of 500ms.
Additionally, the universal language and smart contract for creating the complete platform is known as Web assembly (C++, C, Rust) and it also has an adequate machine build at the World wide web consortium (W3C).
Purchasing And Storing EOS
EOS virtual coin is currently listed on diverse trading exchanges all over the globe for trading. It has been paired with some key digital currencies such as Binance, Ethereum, Bitcoin and USDT. USDT is an expert for EOS users because it enables them to buy EOS while using their current Bitcoin, Ethereum, and all other prominent virtual currencies. For a secure storage wallet, EOS supports.
- R1 Elliptic Curve
EOS users who own a MacBook Pro, iPhone, iPad, and an iMac can use this device as a safe hardware wallet.
- Infinito Wallet
This is a third party wallet that supports other Cryptocurrencies like LiteCoin, Bitcoin Cash, Ethereum, etc.
To Wrap it Up
EOS’ market capitalization has ranked the currency in the fifth position. This could likely be due to its $10.9 billion market capitalization back in June 2018.
Interested in other cryptocurrencies? Visit our coins page for more information.