EOS is one of the newest blockchain projects which has entered the market, which is one way to build a network that is capable of pf producing transactions. The initial coin offerings have been very different for a lot of different reasons as it is one of the longest ICO ever, which can give everyone a chance at winning and getting involved.
What is EOS?
EOS is a decentralised blockchain which produces fast and free transactions. It allows one to have a smart contract which will allow the developers to release dApps. dApps are the future of the internet which will provide you with functions like an operating system which is easy for the investors to use. The aim of EOS is to be able to process millions of transactions while being able to recognise the smart contacts for easy performance. EOS is also looking to solve the issue of usability as it is important for the developers to insert basic functions into the account recovery, which allows for task scheduling.
How will EOS work?
EOS will be able to do anything that Ethereum does but much better. EOS will be able to compare hosting dApps which can be supported by smart contracts. Also, it will be able to complete the work on a set amount of time. It can scale new height which is one of the first things to consider when analysing the potential of blockchain. The technology that is supporting the data process is called proof of work which can be slow and expensive. EOS is trying to make use of a new consensus model which can delegate proof of stakes that can easily fix a current problem. It can be a very difficult task with the knowledge of blockchain technology. EOS is trying to create more efficient systems while being cheap, fast and environmentally friendly.
EOS has its own variation of currency called the EOS, which fulfils certain purposes. EOS model is designed to work on renting computing options with the EOS coins holders gain the ownership of the network. The EOS coins operated just like another cryptocurrency which can send, hold or receive the funds the same as the wallets. This is an excellent payment system which allows one to transfer the money which cuts out on the transaction fees.
Abuse of EOS
This is one of the most unique features of a cryptocurrency which allows the people to send o receive the right transaction. It is just like paying for the cash and real world. It can be very difficult to commit crime anonymously as it does not have the anonymous feature. Most of the blockchain database is public, which means that anyone with the internet connection can view the transaction and also the account balance of the wallets.