EOS Cryptocurrency

 

 

With a Market capitalization of over 2.5 billion USD and ever rising price, EOS is a hot topic in the corridors of technology.  While trying to address the issue of scalability, EOS is a technology based on blockchain and is very much similar to a decentralized operating system. What this means is, the developers can collaborate and build decentralized applications faster. There is a common set of rules for all the developers, common username/passwords, applications talking to each other while sharing databases at the same time.

How EOS is better:

  • It is gaining heights due to two very important offerings, one being the ‘free usage’. Unlike Ethereum, it’s main competitor which charges for every transaction, EOS does not charge anything for any number of transactions, hence gaining the popularity.
  • Second important offering is that in contrast to Ethereum, which uses a Proof of Work model which actually was the first consensus mechanism based on blockchain and in itself is quite expensive, EOS prefers Proof of Stake which helps it in addressing the issue of scalability. Because of the proof-of-stake mechanism, EOS can compute millions of transactions per second.
  • Unlike other blockchains where a user is bound to use a specific language for the development of applications, EOS gives flexibility to support any language which has a web assembly compiler, example C/C++.

EOS is also making some of the financial analysts worried as well. With the announcement EOS made, that they will be distributing 1 billion tokens in the market, it did upset the investors who never want to see such a huge number in the market. In comparison to Bitcoin which has 21 million tokens and Ethereum which sits on the pile of 93 million tokens, with the huge number of 1 billion, investors don’t see huge potential in EOS tokens. Also what might come as a shock to many, was the open admission by EOS where they blatantly accepted that EOS tokens do not have any purpose or usage. This made many investors curious about how EOS is expecting to raise the capital while making such statements which can tag EOS tokens as useless.

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