The 10 things you should know about EOS
EOS is a blockchain platform used to build decentralized applications. This makes it easier for developers to build dapps to provide easy solutions for hosting applications, running smart contracts and other operating systems as services.
From developers and scientists working at EOSIO to large venture capital funds that help build an ecosystem of decentralized applications, there are a lot of exciting things about EOS.
In this article we will highlight the "Top Ten" benefits of this platform.
1- The creator of EOS is also the Cofounder of Bitshares and Steemit
Dan Larimer, CTO of EOS is a good known figure in the cryptocurrency community. He created the Bitshares platform and also collaborated in the creation of Steemit.
He also has credit for the creation of the delegated membership test algorithm (DPOS) and Graphene Technology. Dan was also the first person to introduce the concept of decentralized Autonomous Corporations (DACs / DAOs).
2- The Cripto project No. 1 in terms of confirmations in Github
Investors and traders use various kinds of metrics to track potential investments. One of the safest metrics is the activity in Github. The confirmations and comments in this repository is a good measure of finding the frequency of updates to the base code and quantifies the progress made regarding the development of the project in relation to the road map of the same.
In the following graph, we can see that EOS remains in the first position compared to more than 700 cryptocurrencies in the period studied.
3- Equality of Opportunities and wide distribution
EOS is one of the most widely distributed cryptocurrencies. The price of EOS is not predetermined but it was left for the market to decide. It is one of the longest running events for investment funding (341 days in total).
In this way EOS made it possible for the community to get to know and participate in the ecosystem by purchasing EOS before the launch of the network. There are around 300 thousand owners of EOS according to etherscan.io
4- Fast, economical and highly scalable blockchain
VISA can process more than 20,000,000 transactions per second (TPS). Currently the availability of popular smart contracts platforms can barely handle 100 TPS.
This claimed that at the launch of EOS, it had to support at least 1000 transactions per second in order to scale to millions of TPS in the future. The people behind EOS believe that fees should not be used when one is trying to use dapps.
As the transactions are free, the EOS holders are assigned bandwidth and computing power according to their participation.
5- Anti-theft and freezing characteristics
Since mining is not involved in producing blocks, there is an extra flexibility in use with which bad actions can be stopped by any malicious agent.
EOS makes this possible to regain control of your account if someone steals your keys. If a bug is found in a live dapp or some exploits, EOS makes it possible to freeze such accounts once the voting agreement exceeds the 15/21 possible votes among the producers of the block.
Using EOS, you can also update the code of a failed contract without resorting to a hard fork.
6- The largest financing for a Crypto project
As part of the ongoing financing period of 341 days, block.one managed to raise more than one trillion dollars for the development of EOSIO and ecosystem support. They have suggested that all these funds be used for the development of more tools and the financing of dapps that are being built on EOS.
7- Strategic union with heads of large institutions
EOS has been creating strategic partnerships with names well known in the industry for the financing and development of EOS related to dapps.
The recent announcement of a US $ 200 million fund in partnership with Michael Cao and Winnie Liu to accelerate the development of the Asian ecosystem focused on EOSIO.
They have also announced the millionaire union with billionaire crypts like Mike Novogratz of Galaxy Digital.
8- Decentralized Exchange based on EOS
One of the largest Exchanges in the world showed interest in building a Decentralized Exchange using EOS. Eosfinex is called to be the first decentralized exchange platform in the world. When it was launched, it promised a true and transparent way to trade cryptocurrencies.
9- Storage EOS, Wikipedia Decentralized in EOS
According to the whitepaper, the EOS repositories also list a document for EOS storage. It will be built using IFPS, a server as a decentralized storage solution.
The dapps built in the EOS cloud will use this storage of all information in a decentralized manner without having to rely on third parties.
The Wikipedia co-founder said he will build Everipedia using EOS. He explained that after exploring all possible solutions, EOS proved to be the most suitable suite for this project.
10- Dawn 3.0 now available. Launching the public in June
EOSIO Dawn 3.0 was recently made available to all users. With this release, EOS moved the block interval to 3 seconds to 0.5 seconds.
With this launch it was achieved, that the transactions are irreversible confirmed after the first second. Other updates are mentioned in his official blog of Medium. Each programmed aspect follows its course and we hope to see the network available to the public next June of this year 2018.
...and #11 Investing opportunity!
Let's get that crypto!
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by parism from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.