EOS is developing a platform in which developers and programmers can take advantage of to create dApps (decentralized Applications) . While the initial idea may have originated with Ethereum and their smart contracts, EOS (EOS) is the next generation platform for these applications. It can support a vast number of dApps as its platform is scalable.
Why is EOS the best platform?
Though there are other platforms that offer support for decentralized apps, EOS has set itself apart by offering some outstanding features. One of these is that it’s absolutely free. This gives developers the ability to concentrate on the development process and offer their users the best features. They can then earn from their apps by charging the users.
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EOS supports scalability and can support as many users as require it. This is crucial with apps that target a wide user base such as social media and e-commerce applications. The EOS platform is also quite flexible and can adapt to a user’s needs when required as well as being robust enough to fix bugs.
Delegated Proof of Stake (DPoS)
While the proof-of-work and proof-of-stake were very innovative, there was a need for the blockchain platform to develop an improved consensus algorithm that would focus on quality. Dan Larimer is credited with the development of DPoS, a system that is less centralized is much faster and requires much less electricity and computational power.
This is achieved by having the community vote for the witnesses to secure the network. Only the top witnesses are awarded by the system. This encourages every witness to focus on giving better quality and completing all tasks as there are very many backup witnesses who can take over the roles. Vote power is determined by the stake held by the users who have a large stake having more influence. This also encourages users to hold on to their coins discouraging dumping which is a common phenomenon in most currencies.
Invest in EOS now
EOS has become the go-to platform for the development of decentralized applications. This has seen its value rise and its current market capitalization currently stands at an impressive $1.9 billion. Its price currently stands at a very lucrative $3.6 which makes it a prime target for investment. As the development of dApps takes center-stage in the blockchain network, EOS will keep rising in value and will become one of the most important cryptocurrencies in 2018.
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future