What is EOS?

What is EOS?

By Diviner | SimplyJustCrypto | 12 Dec 2020


EOS is a token native to the EOS.IO blockchain. It uses a delegated proof of stake system instead of proof of work. Introduced in May of 2017, it currently sits at number14 on CoinMarket Cap with a market cap of over $2,5 billion. Here are some facts about EOS to help you learn about this amazing coin.

What makes EOS Different?

Scalability: EOS hosts a decentralized blockchain that supports decentralized applications. Unlike other blockchains, like Eth, EOS focuses specifically on speed and scalability. For example, the ethereum blockchain can handle roughly 15 transactions per second, where EOS can handle thousands of transactions per second. This allows EOS to run much faster and scale better compared to other blockchains. 

Flexibility: The EOS blockchain provides dApp creators with a variety of unique features that allow for accessibility to anyone who wants to dApps. EOS allows devs to use their blockchain for free, creating a more accessibility environment. 

What is the future of EOS?

One of EOS's main goals it to scale up to handle over 100,000 transactions per second. While this may seem impossible, it could be possible due to the constant research and development being done by block.one, the company that created EOS. 

With its unique features and advantages over other blockchains, EOS could potentially continue to rise in popularity and overtake other coins, such as Eth.

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Diviner
Diviner

Just an ordinary guy exploring the amazing world of crypto


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