The co-founder of PayPal, Peter Thiel; the co-founder of Bitmain, Jihan Wu; the founder of Moore Capital Management LP, Louis Bacon; and the financial tycoon, Alan Howard are investors of block.one and have...
The co-founder of PayPal, Peter Thiel; the co-founder of Bitmain, Jihan Wu; the founder of Moore Capital Management LP, Louis Bacon; and the financial tycoon, Alan Howard are investors of block.one and have developed the crypto-currency project EOS. EOS is now the fifth crypto-currency in nthe world by market capitalization.
After launching the updated network of EOS it set a record for number of operations - about 3,000 a second. Reaction to the news was clearly visible on the graph of the EOS rate. As of July 23rd, 2018 one coin costs $8.176.
What is EOS?
EOS is a blockchain platform based on an open initial code created for conducting ICO's, hosting smart contracts, and decentralized applications (Dapps). Generally, the project looks like the famous Ethereum project. The mission of EOS, as stated by the developer block.one, is to correct all of the vulnerabilities of their direct competitor (Ethereum) which does not allow the network to scale to the needs of all (including large) project participants. To say it simpler, block.one is trying to create the most powerful and protected infrastructure for decentralized applications in the world.
What makes EOS different?
- The main advantage to EOS is scalability. The platform is capable of supporting a huge number of decentralized applications that are important, for example, for a major business.
- With the help of DPoS algorithms all users on the networks vote themselves to choose suppliers of new blocks.
- A high transaction speed - no more than a quarter of a second.
- Each participant of the networks can create their own database, which only their owner has access to.
- EOS tokens are not the internal currency for mutual settlements. However, token holders can use them to finance the development of applications. The total amount of EOS coins released was 1 billion.
- The developers of the platform conducted an ICO with a record result - $4.2 billion was raised.
- Mining of EOS is not possible. The cryptocurrency can be bought on a crypto-exchange or at the time the ICO was held.
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