Purpose: Scalable smart contracts
Price for 1 EOS1,20 $
Rank: 47 - Market Cap: 1,21 bn $
- Very low transaction fees
- Highly scalable, several thousand transactions per second
- Smart contracts /DApps with the goal: decentralization of everything.
- Dan Larimer, blockchain developer and crypto legend (developed Steemit and Bitshare)
- Friendly environment for users and programmers
- Flexible through updates without "hard forks"
- Instead of Proof Of Work, a Delegated Proof of Stake (DPOS) is used, where 21 network nodes form the blockchain through their consensus.
- Who is allowed to operate these network nodes is determined by frequent elections among token holders.
- This is meant to increase the efficiency and security of the blockchain, as only the best and most trusted server operators are supposed to perform this lucrative job.
- DPOS and multi-blockchain architecture thus enables millions of transactions per sec. with low transaction costs