Applications and millions of transactions per second. What is EOS for?

In April, the value of the coin grew fourfold, a few days ago it set a record price of $ 22, but then it became cheaper. EOS - a platform for decentralized applications, ICO which has been going on for a year and will end in less than a month - June 1

The EOS Token was the best in terms of capitalization of coins, survived the "crypto-currency winter" - a correction that began in January and ended in early April. The average price of altcoyin reached a record price of $ 18 and significantly exceeded it - a few days ago it exceeded $ 22, but now the rate has dropped to $ 18.

History

The EOS platform is developed by the technology company block.one, which is registered in the Cayman Islands. This is a blockbuster platform for large organizations with the highest speed of work - millions of transactions per second, it is based on the technology of asynchronous smart contracts (they can be executed simultaneously). In the release of block.one, developers reported that at the moment there are no such platforms, so it attracted the attention of investors who saw the potential for development in EOS.

Representatives of the company call the coin "a fundamentally new crypto currency", which was created specifically for the work of various decentralized programs and applications. At the moment, no system can support the processing of millions of transactions per second. One of the main problems of bitcoin, for example, high commissions for operations, which can take a very long time - within a few hours.

The developers of EOS are planning to solve similar problems. They create a platform similar to Ethereum, but its network should work much faster. The site will allow processing hundreds of thousands of transactions per second, while the user will not have to pay each transaction separately.

"This will help attract new users of the block, who do not need to understand the complex processes of buying crypto currency, and will stimulate the further development of the industry," says block.one CEO Brendan Bloomer.

Differences from Ethereum

In the world of digital money, there are several sites for decentralized applications and ICO, which are based on the Ethereum blockbuster. Their developers are trying to correct the problems of the second capitalization of the crypto currency and create a new product that can take the place of the brainchild of Vitalik Buterin.

The company block.one noted that they will make a more scalable network for convenient use by large enterprises. The main difference between EOS and Ethereum is that the second coin for capitalization was created as a supercomputer so that developers could create some projects based on it, making them convenient for a certain sphere. EOS is the very special development that has features for a certain field of activity.

For example, commissions in the Ethereum network fluctuate greatly, it is inconvenient for using the network in business - the EOS platform promises to solve this problem and make payment for transactions always predictable, and because the ether problem - scalability - is solved, the network is almost impossible to overload. Developers of EOS, in contrast to users of the platform Ethereum, do not have to pay for the creation of applications.

How to mend

This crypto currency can not be extracted in the generally accepted sense of the word. It is distributed in the Ethereum network, so users are asked to send a certain amount of airtime to a special address, after which the specified number of coins will be distributed among all users who made the payment proportionally to their shares.

Token is already on the fifth place in the list of the largest digital money for capitalization. A few weeks ago, he moved from this place Litecoin, which has already dropped to seventh place, letting in front of Cardano.

Today EOS is traded on most of the largest crypto-exchange exchanges - Bitfinex, Binance, Bithumb, OKEx and others. Altcoin can be stored in any electronic wallet, which supports the standard ERS-20.