What is EOS Coin? Similar to OS without any centre

EOS Coin

EOS, a block-chain based technology platform, is among the top 10 crypto coins with a market volume of over $ 8 billion.

Having a platform similar to Ethereum, EOS uses “smart contracts” to implement decentralized client-focused projects such as those found in Ethereum. EOS is built around a distributed operating system-like architecture that developers can create using technology based on Ethereum.

 

Basically, the aim of EOS is to create a blockchain that can be used for scalable commercial purposes. Today’s leading block chains, including Bitcoin, Ethereum, BitShares and others, are known for their scalability and durability, but at the same time, they have significant problems.

These block chains can support tens of thousands of operations at the moment. However, they are disadvantaged by high transaction fees and limited computing capacity.

How does EOS Coin work actually?

What is EOS Coin
What is EOS Coin

EOS is a platform where developers can create decentralized applications. EOS Coin owners use the coins they have to support a project developed on the EOS network. At the same time, users can access EOS applications freely without having a currency.

This is achieved by creating an operating system-like structure in which applications can be created. The platform provides accounts, authentication, databases, asynchronous communication, and scheduling of hundreds of CPUs or applications on the CPU core.

Typical DPOS blocks have 100% block building participation. A broadcast can be confirmed with an accuracy of 99.9% after an average of 1.5 seconds from the broadcast time. There are some extraordinary situations where a software fault, Internet bottleneck, or a malicious block generator creates two or more forks.

For a certain degree of certainty that a process is irreversible, a node may wait for 15 blocks of block generators 21 to be acknowledged. Based on a typical configuration of the EOS.IO software, this will take an average of 45 seconds under normal conditions.

what is eos
what is eos

By default, all nodes accept a block confirmed by 15 of the manufacturer 21 as irreversible, and will not switch a fork that excludes such a block regardless of length. It is possible for a knot to warn users that a fork is likely to be in the minority fork 9 seconds after the beginning of the fork.

After two consecutive missed blocks, a node in a minority fork has 95% probability. With three consecutive missed blocks, there is a 99% certainty over the minority façade.

It is possible to create a robust forecasting model that will take advantage of other factors to quickly identify which nodes have been hijacked, recent participation rates, and that operators have something wrong. The response to such a warning depends entirely on the nature of the trade, but the most straightforward response is to wait for 15/21 until the warning is stopped.

Permission management involves determining whether a message has been appropriately authorized. The purest form of authorization management is to check that a process has the required signatures, but this indicates that the required signatures are already known. In general, authority depends on individuals or groups of individuals and is usually divided into departments.

Some advantageous

eos coin review
eos coin review

Scalable

EOS can support thousands of commercial-scale decentralized applications. Parallel execution, asynchronous communication, and other features increase the scalability of the platform. Plus, EOS can separate authentication from enforcement.

Flexibility

EOS provides generic role-based permissions, the ability to freeze and fix non-functional applications, and a web compiler platform, which makes the platform flexible for distributed application developers.

Usability

EOS has a web toolkit that includes self-defining interfaces and database layouts for interface development.

Equal Opportunity

EOS Coins do not have a predetermined price and prices are determined by the demand on the market. In this way, large buyers are designed to mimic mining without giving them unfair advantages.

Processing Speed at EOS

7d EOS Chart of coinmarketcap
7d EOS Chart of coinmarketcap

Eos is a crypto platform that supports decentralized applications (Dapps). It is designed to make it easier for developers to develop these Dapps. That’s what Eos calls an Ethereum killer. Because using EOS network is easier and different than Ethereum;

In the EOS network, everything will be transparent so users can easily see what each other is doing. The source code is loaded directly into the blockchain, in a way that everyone can read, not as data. In order to understand the data on Ethereum, you need to know the software of that code. The aim is; In the process of creating the application, if you have a mistake, everyone who uses the network can see your mistake and intervene immediately. Since it can be easily read and recognized by the users, you also have the chance to correct the place where you made a mistake.

To create an application in Ethereum, you first need to write code for the application and then pass it to machine mode. But Eos is trying to make this process easier. So you will not need smart contracts to interact with decentralized applications on EOS. This means that users no longer need to pay for these interactions. You do not want to spend money write/spread. At EOS, developers do not have to rewrite code by providing basic services on the platform, such as database management, account management, and other services. At Ethereum, you will have to retype this entire code for all these standard / basic features. EOS uses it as a weapon against Ethereum. A look is like an operating system used to create intelligent applications. And the best-known thing about it is that it’s easy to work with. You can find all the technical specifications of EOS on Steemit’s white paper.

Some specific features

1y EOS Chart of coinmarketcap
1y EOS Chart of coinmarketcap

To enable Eos widespread use, the applications in BlockChain provide a flexible platform that meets the following requirements.

Many strong partnerships are with this platform

Disrupting businesses like Ebay, Uber, AirBnB, and Facebook need blockchain technology that can manage tens of millions of active users. In some cases, applications may not work unless a critical mass of users is reached and, for this reason, a platform can handle a large number of users.

Free usage

Application developers need the flexibility to offer free service to users; Users should not have to pay to use the platform or take advantage of their services. A blockchain platform that is free to use for users will probably adopt more widely. Developers and businesses can then create effective monetization strategies.

Easy Upgrades and Error Correction

Businesses that build blockchain-based applications need the flexibility to develop their applications with new features. All non-trivial software, even with the most rigorous formal verification, is in error. The platform must be so intact that it will inevitably correct mistakes when it comes to raising.

Low latency

A good user experience requires reliable feedback with a delay of no more than a few seconds. Longer delays frustrate users and make nonblocking applications less competitive with current nonblocking alternatives.

Sequential Performance

There are some applications that can not be implemented with parallel algorithms because of subsequent dependent steps. Applications such as change require sufficient sequential performance to handle high volumes, and therefore a platform with fast sequential performance is required.

Parallel performance

For large-scale applications, the workload needs to be partitioned between multiple CPUs and computers.

Result

EOS is a commercial class block that is designed to support millions of users. The EOS.io software provides a new blockchain architecture that facilitates the vertical and horizontal scaling of decentralized applications. As a result, it serves as an operating system-like platform where decentralized applications can be created.

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About the author

I am graduated from the faculty of communication. I have worked for major companies in the communication field, and acquire more than 12+ years of experience. I like to read empowering books, traveling and researching useful stuff on the internet. For a few years now, I have cultivated and developed a passion in the cryptocurrency world. I have decided to dedicate my time to create some posts on my blog about cryptocurrencies in general. Cryptocurrency World is growing fastly and will have longevity future however it has just born. I intend to improve myself on blockchain technology and share my knowledge.

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