EOS Price Chart Update [EOS]

EOSIO (EOS), which was launched in June 2018, has gained the nickname "Ethereum killer."

What Is EOSIO (EOS)?

EOS stands for "Entrepreneurial Operating System." It is a blockchain designed to enable the development of smart contracts and decentralized applications (dApps). EOS aims to create a user-friendly platform that functions as an operating system. The project was officially launched in 2017 by Block.One, a blockchain company with employees and advisors worldwide.

EOS also aims to address the scalability issue by handling millions of transactions per second. Unlike Ethereum, which is limited to 15 transactions per second, EOS is designed to be a decentralized operating system. It provides developers with the necessary tools and resources to build and expand decentralized apps.

How Does EOSIO (EOS) Work?

The process of EOSIO (EOS) works as follows:

• Validators' coins are secured as stakes.
• Validation begins after staking and locking. They activate the betting mechanism and place a wager on blocks they believe can be added to the chain.
• If the block is added, validators are rewarded based on their stake in the block.

Delegated Proof-of-Stake (DPoS)

EOSIO (EOS) utilizes a Delegated Proof-of-Stake (DPoS) consensus mechanism. This continuous voting system allows anyone to vote and earn blockchain rewards. The decentralization of computer networks is facilitated through an integrated election system, also known as DPoS. The role of each validator or participant is determined by the number of tokens they own. More tokens give a stronger role in resolving network issues. DPoS is considered a more accurate, preferred, and faster method compared to the "proof-of-work" consensus mechanism.