source:

What is EOS?

You can find tons of info in Internet, but I am going to wrap up the things about EOS, the way I see it. So I made a list of the major terms everybody has to know about.

EOS or EOS.IO! Difference?

What is what? When I got to know about this new platform I was kind of confused, is there any difference between the two terms.
Turned out that EOS is the blockchain platform and EOS.IO is the software that is being deployed.

So, lets start. I have done my evaluation of this platform and have included the most important terms related to EOS:

1. EOS will provide us with:

accounts + authentication + communication + database + Daaps

2. The Transaction fee is 0.

Yeap, it is zero. Transaction fee was eliminated thanks to the implementation of "ownership" model instead of "rental" model of the token. In essence that means that to each EOS token holder are designated resources proportionally to the stake owned in the system, that can be used to pay for the ensuing transactions.

3. EOS token holders have an access to:

• the network’s storage (RAM)
• bandwidth (NET)
• processing power (CPU), proportional to the stake they hold

The volume of available network resources can be increased only by purchasing more EOS tokens. This way the developers have the opportunity to gradually scale up their applications and to receive NET and CPU.

4. The consensus algorithm is Delegated Proof-of-Stake ( DPoS).

We know that the most common algorithm out there is proof-of-work ( PoW). But many would say that DPoS is more democratic consensus method, minimizes the risk of any party consolidating too many tokens, what tends to be the case with PoW.
So what is the difference: It eliminates the mining process, the way it works in PoW. Miners are replaced with validators.

5. If needed you can just freeze it and fix it!

Very important to mention is that network can be frozen right away, instantly if a broken application is identified, while the rest of the accounts in the system are not going to be affected!

6. Exactly 21 nodes also known as witnesses, the only ones that produce blocks.

Any account holding EOS tokens has a voting rights and chooses which one of the 21 nodes can become witness/ block producers. In order the blockchain to function 24/7, there is not such a need of all nodes to be participating or active at all times. This is the so called, added flexibility feature.

7. Every one sec a block is created.

The top 21 block producers create them in rounds of 21 ( the top 20 gets chosen automatically + 1 is selected taking into account the number of votes comparing to the ones possessed by the other producers) and DPoS mechanism enables conducting of millions of transactions per second.

8. Potential forks.

I have read lot of information about any potential forks. Sounds like they are unlikely to happen. Why?

• Looks like the 21 block producers are highly interested to work in cooperation than competing with each other.

• Each Block producer relies on the community, i.e. EOS token holders. So you have to have the huge support of any whales, dolphins etc.
  
  

9. EOS enables:

• Vertical + horizontal scaling of Dapp's.
• Processing transactions and executing smart contracts will go simultaneously!!!
  
  

10. Many believe that:

Thanks to DPoS consensus protocol, it automatically is considered to be less centralized and operates efficiently.

GET MORE UPVOTES + CRYPTOCOINS. JOIN SUPERIOR COIN, KRYPTONIA.

SIGN UP HERE!!!

@Kryptonia @Superiorcoin

Post published using #eSteem Surfer

MY NINTH experience with #eSteem Surfer!!! Great experience!!!

GET PAID TO SEARCH!💰 💰 💰

---

---

---

NEXT GENERATION SEARCH ENGINE IS LIVE NOW!!!

JOIN ASAP DECENTRALIZED SEARCH ENGINE, BETA VERSION

EARN DAYLY FOR THE SAME ACTIVITIES YOU ARE BEEN DOING ALL THE TIME ON GOOGLE! 👌 👌 👌

MAX. 8.5 PRE TOKENS PER DAY WHAT IS WORTH 1 STEEM PER DAY

---

Above mentioned rate is as for September 04. see the exchange rate: https://coinmarketcap.com/currencies/presearch/

---

CLICK ON THE BANNER TO GET YOUR FREE 25 TOKENS!💰 💰 💰