Why EOS Blockchain is one of the best Blockchain Platforms?

Leewayhertz

In general, all successful dApps should have some or all of the following attributes:

  • Zero Transaction Cost
  • Low Latency
  • Parallel and Sequential Performance
  • Scalability
  • Parallel Processing

The EOS platform supports the parallel processing of smart contracts deployed on the network using the following three levers:

  • Horizontal scalability: This refers to the ability to increase the transaction rate by increasing the number of systems and computers in the network.
  • Asynchronous communication: All the parties involved need not be available at the same time to communicate.
  • Interoperability: This refers to the ability of a computer system to exchange as well as utilize information meaningfully.
  • Decentralized Operating System
  • Limited Energy Consumption
  • Flexibility and Permissions
  • Upgradability
  • Governance

Resource Type

  • RAM — State Storage
  • Network — Bandwidth and Log Storage
  • CPU — Computation and Computational Backlog
  • RAM: Similar to most computer operating systems, state storage in blockchain refers to the information such as order books and account balances or any other data that can be accessed from application logic.
  • Network Bandwidth: This is the average consumption in bytes over the preceding three days.
  • CPU Bandwidth: This is the average consumption in microseconds over the preceding 3 days.

Resource Allocation

  • Network, CPU — Staking: The network and CPU bandwidth are allocated based on the number of tokens held in a 3-day staking contract. With time, the consumed network and CPU bandwidth free up automatically and one can reuse the staked tokens.
  • RAM: RAM needs to be procured at the market rate, which follows the Bancor Algorithm, based on the Bancor Protocol.

EOS dApp Use Cases

  • Gaming: An Italian augmented-reality-based video game named Hidden Fighters has been developed on EOS, which allows players to compete with unique avatars while winning tokens by selling their equipment and completing game missions.
  • Green Energy: The Ubuntu Energy Ledger, a clean energy marketplace set on the EOS infrastructure, is on a mission to provide cost-effective renewable energy to Africa and equip 4 billion households by 2030. The community relies on microloans and investors to help fund small businesses and people’s homes.
  • Finance: All_ebt Food Stamps: is a virtual card built on the EOS blockchain platform, which aims to help low-income communities in Puerto Rico participate in the digital economy and have access to healthy food. Around 45% of the population in Puerto Rico sustain on Food Stamps (22% in the U.S.) and this has been a significant push to help them with financial inclusion.
  • Governance: The Free Republic of Liberland is a sovereign nation founded on 13th April 2015, which aims to develop an open source government that will significantly increase the bounds of freedom for its citizens, by building a Decentralized Autonomous Government (DAG) on the EOS blockchain.

If you are confused about the Blockchain and its feasibility.

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Full-stack software development company for startups and enterprises using blockchain, AI, IoT, AR and cloud computing. https://www.leewayhertz.com

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LeewayHertz

LeewayHertz

Full-stack software development company for startups and enterprises using blockchain, AI, IoT, AR and cloud computing. https://www.leewayhertz.com

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