EOS: A Powerful, Scalable and Flexible Blockchain
EOS Quick Stats
|CREATION DATE:||June, 2017|
|DEVELOPMENT STAGE:||Full Release|
|BLOCK TARGET:||0.5 seconds|
EOS has introduced a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (dApps). It’s powered by the native EOS token. The platform aims to fix several issues which makes several other blockchains unable to scale to meet the future demand for cryptocurrencies, dApps and a high throughput blockchain. Since our goal is to drive adoption through ecommerce, we have added support for EOS payment processing as it will be able to scale to the demand we envision cryptocurrency having in the future.
How Does it Work?
EOS was developed with a mindset of being able to accomplish several goals through their blockchain solution, including:
- Supporting millions of users – to be able to compete with large established technology companies which can support a massive user base
- Free Usage – providing flexibility to developers and value to users, plus encouraging adoption through a free to use service
- Easy upgrades and bug recovery – ease of use for businesses upgrading with new features, and robustness when tackling bugs in the system
- Low latency – reliable feedback and low latency of transactions
- Sequential performance – to facilitate the management of high volumes on the platform
- Parallel performance – allowing the platform to divide workload across multiple CPUs and computers to increase speed and efficiency
EOS runs with a delegated proof of stake (DPoS) consensus algorithm in conjunction with the asynchronous Byzantine Fault Tolerance (aBFT) to achieve lightning fast transaction irreversibility. Within 1 second, the transaction is irreversible on the blockchain.
Why Choose EOS?
EOS has provided a robust blockchain of which businesses and individuals can take advantage to develop a wide variety of decentralized applications. The platform itself is free, but it will be up to its community to develop new features and business models to monetize and bring value to the community and anyone else who wishes to tap into the world of blockchain. The freedom is there, it’s up to you to take it!
For more information about our EOS integration, or to learn about EOS payments, please get in contact with us.