Before giving an accurate definition of the new platform, it is necessary to understand that the system, called EOS, uses Blockchain technology, which, thanks to its computing capabilities, combines the main advantages of currencies such as Bitcoin and Ethereum.
The goal set by the EOS developers was achieved through the introduction of the scalability of the unit and the use of smart- contract technology. The creation of EOS greatly simplified the creation of decentralized applications (dapps), so there was the possibility of daily use of the blockchain system as a financial tool.
Interesting in the section: Advantages and Prospects of EOS
The main advantage of the EOS platform lies in the convenience and accessibility for ordinary developers who work in the Blockchain chain. Due to simple scalability, the number of network transactions increases to thousands per second, which provides a number of services associated with digital data transmission technologies. The most interesting offers are authentication, cloud hosting and data storage on the server. Scaling of the block in EOS is necessary for constant control over transactions, especially this is true when confirming operations with the cryptocurrency.
Applications created with EOS can be free for end users of content, but at the same time, developers have the opportunity to implement various schemes for monetizing their product. The democratic approach to managing the EOS system is based on creating blocks that support transactions and can actively develop and correct network errors. To date, the delay in the network is gradually decreasing. It is planned that the creation of one unit will take no more than 0.5 seconds.
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The EOS project is expected to release a new release called Dawn 3.0, which will spur this platform to further development and application of technology in practice. Anyone can buy the same currency on special Internet exchanges. The value of the EOS monetary unit is determined solely by the market. As of the first quarter of 2018, the inflow of capital into the EOS is more than six billion dollars. EOS tokens can only be used for the purpose of releasing specific applications that will work based on network confirmations.
Editor: Yuliya Soroka