EOS can be a point of reference for all those users who want to create their dApp without paying commissions. But how can all this happen on a practical level?
The platform created for dApp
EOS is a blockchain platform for the development of decentralized applications, but at the same time provides a set of services and functions that can be used by dApps.
The idea behind EOS is to bring together the best features and promises of various smart contract technologies (eg Bitcoin security or Ethereum’s IT support), in a platform to be used every day to enhance the upcoming blockchain economy.
How does it work?
The vision of EOS is to build a blockchain platform for applications (dApp) that can safely and uniformly scale thousands of transactions per second, while providing an accessible experience for application developers, entrepreneurs and users.
The scalability
The most common blockchains (think of Bitcoin and Ethereum) use the “consensus on status”, which means that at any time all the computers on the network can check the current status of the entire blockchain in order to prevent fraud and confirm the transactions .
When the “event consensus” is used, the focus is on transactions rather than status. Instead of checking the network status at any given time, the nodes check the series of events that have occurred up to that point to keep track of the network status. The result is a system that takes more time to completely reconfirm the transaction history on reboot, but it can more efficiently handle transactions during execution.
Investing on EOS
The factors that have led many people to invest on EOS are the following:
Complete User accounts: the EOS network is a platform that allows developers to exploit a complete authentication system;
Scalability of the network;
No commission: an application built on the EOS platform does not require micropayments from end users to send messages and perform blockchain activities;
functionality: the EOS system provides a governance model based on block producers as well as on the system itself;
no malfunction: the EOS system reduces latency and maximizes performance by structuring each block.
Where to negotiate EOS
It can be found on: Bithumb and Huobi, which represent the overwhelming majority of the trade volume of this cryptocurrency, recording respectively 32% and 17% in the last 24 hours to date March 9, 2018 (to stay updated on the volumes, click here).
Prospects
The competitive advantage of EOS in terms of performance is greater than the current ones of Ethereum, which is very significant given the difference between the two companies under almost every point of view, such as capitalization.
The news that Block.one CEO Brendan Blumer announces $ 1 billion in capital for EOS projects, suggests that there is a great potential for projects that the company plans to implement immediately but also in the future.
White Paper and Road Map
The company’s white paper contains many useful information. I will list one but you can find everything in detail directly by clicking here.
Consensus algorithm (DPOS)
EOS software uses the only decentralized consent algorithm able to meet the performance requirements of blockchain applications. If these are private, management may use tokens to add and remove IT staff.
The 2018 road map is based on an event:
Platform summer / autumn optimization 2018.
Conclusions
EOS is an exciting project in the arena of decentralized applications (dApp), because behind it has a proven team and a revolutionary overview such as: the non-taxation on the products created, an improvement in the functionality and scalability of the network.
Time will give precise answers on how this society will evolve and if it will keep faith with the commitments made with the investors.
