The EOS blockchain is a platform with an intriguing design that has drawn very mixed reactions from the blockchain community. Some believe the EOS ecosystem could become the number one blockchain of the future; others believe it will be rendered obsolete. The EOS platform isn't concerned about the press, though; it's just keeping its eye on the prize and looking to become Ethereum's main competitor.
EOS is a blockchain platform and operating system designed to support decentralized applications. Dan Larimer and Brendan Blumer founded EOS in 2017 as part of the private company Block.One. It was released as open-source software, meaning anyone has the right to use it, change it, or distribute it in any way they see fit. It has since been described as the most powerful infrastructure for decentralized applications (dApps) built.
The EOS system Initial Coin Offering (ICO) took place on June 26th, 2018, with an unprecedented $4 billion raised from contributors worldwide. EOS offers a total supply of more than one billion tokens, with 970 million in circulation.
Additionally, the EOS network aims to provide a decentralized operating system for developers that can scale up to millions of transactions per second while also eliminating user fees, which is something many other blockchain networks can't do. EOS uses delegated-proof-of-stake (DPoS) as its consensus mechanism, which is more efficient than the Bitcoin blockchain, which employs proof-of-work (PoW).
Ideal for dApps
EOS is the blockchain platform of choice for dApps. Here are a few reasons why:
- High computational power and low cost: EOS offers more processing power and network resources than other blockchain platforms.
- Scalability and flexibility: EOS allows developers to build their own rules inside of smart contracts. You can use them as you see fit or completely disregard them if needed.
- Security: It provides a secure environment where code cannot be hacked or manipulated by third parties because it's built with robust security features that will protect users' investments at all times. This enables developers to focus less on cyber security and more on the actual product.
- Ease of Use: It takes less time for users to sign up than other blockchain platforms.
In addition to being designed to support a high volume of transactions per second, EOS has been explicitly built as a decentralized operating system that is easier for developers to use. For example, you can build EOS dApps in any programming language that works with C++ and then deploy them directly onto the network.
Along with its easy-to-understand features and technological advancements, these benefits position EOS as the future of blockchain technology. We've already seen some successful projects built on this platform.
EOS token holders can earn interest by putting their assets into EOSDT collateralization. This dollar-pegged stablecoin protects users against cryptocurrency market volatility and uncertainty. It's available on Bancor, Changelly, FINDEX, and Morecoin.
In the same way that Wikipedia first revolutionized the encyclopedia, Everipedia is poised to do the same in digital knowledge sharing. Their goal is to provide content verified by citations and available to everyone, everywhere, all the time. In addition, bringing a knowledge bank onto the blockchain avoids censorship by bad actors.
Like any job site, businesses can post job listings for open positions, and those looking for a job can apply through the site. HV, However, is unique in that they are catering to the blockchain space and offer incentives for hiring through their platform. For example, for each employee hired through HireVibes, 1% of their salary is donated to various charities managed by the platform.
When the Ethereum blockchain (ETH) was first introduced in 2013 by Vitalik Buterin, he described it as a "next-generation" cryptocurrency platform for smart contracts and decentralized applications.
EOS, however, is considered a significant rival to the Ethereum network because of its speed and scalability goals. For example, Ethereum can manage 20 transactions per second, whereas EOS's target is to conduct millions per second.
EOS is a dApp platform for developers, and as such, it offers no fundamental improvements over other blockchains for the average user. It also doesn't have many use cases outside of development since most projects can be built on Ethereum or Bitcoin blockchains with little difficulty.
EOS may not offer much outside of easing the development of dApps. Still, with the increased adoption among developers using their software tools, the value of EOS tokens could certainly see a tremendous surge.
EOS is a promising project that has the potential to grow into an even stronger competitor over time. Their commitment to providing open-source code and open course educational programs is attracting developers worldwide.
EOS (EOS) Resources
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