1. Aiwaka AdventuresHome
  2. Digital Disruptors

What is Bitcoin eos (eos and Bitcoin)?

• Digital Disruptors • 71 views

What is Bitcoin eos According to official sources, what is Bitcoin eos? Bitcoin

What is Bitcoin eos (eos and Bitcoin)?

What is Bitcoin eos According to official sources, what is Bitcoin eos? Bitcoin eos is optimized by improving the consensus algorithm. Its core function is to limit the block size to within 32KB to meet the requirements of transaction and confirmation speed.

According to the introduction, BitcoinEthereum (referred to as BCH), based on the Ethereum distributed ledger architecture, uses DAG file technology, which is a technology form similar to the Bitcoin blockchain. At the same time, Bitcoin eos is also an open platform. In the Bitcoin network, there is a new currency called ‘EOS’ or EOSCoin, which represents a governance mechanism of the Bitcoin community. According to the previously published article “Blockchain Economy”, Bitcoin as an emerging technology can effectively solve many problems in the cryptocurrency industry: 1. Scalability; 2. Anonymity; 3. Security.

eos and Bitcoin

There is a deep connection between eos and Bitcoin. Since 2017, the eos mainnet has been proposed. At that time, it was just a test network (without practical significance), but it has developed to version 2.0. Now its main technological focus is the use of proof of stake consensus mechanism, that is, “Byzantine Fault Tolerance”. However, this concept is rare in the field of blockchain, and Ethereum has also been trying to apply these features to its network.

According to the eos.io white paper, there are currently more than 1000 independent wallets supporting decentralized financial services platforms, digital banks, and payment processors developed based on eos, and many applications built on EOS are being deployed in the blockchain.

Although eos has not been officially launched yet, many projects in the eos ecosystem have already been implemented and operated. For example, eos super node elections, community governance on eos, etc., have brought tremendous value to it. So we can see that in the past year or so, the eos ecosystem has been growing and gradually forming a new type of network effect. And because of this new trend, people are more willing to accept eos as a new identity feature of cryptocurrency, that is, “borderless”. What does “borderless” mean? In fact, all of this stems from a characteristic of eos itself: “borderless” refers to a peer-to-peer organization that anyone can have the economic power or control ability of free disposal. For example, when you buy a specific species, “there is no country” or “no economic rights can be obtained”; even in some cases, if you want to obtain economic benefits, you need to donate a certain amount of funds to society to support their business activities, so that others can participate in the investment market and make money; of course, if you want to transfer wealth overseas, you can also exchange it for gold with US dollars. This model allows traditional Internet companies to have weaker and weaker ability to trade, buy and sell goods and services with ordinary investors.” Therefore, if eos can achieve this, it may become one of the most popular underlying public chains in the blockchain industry in the future.

For eos, a “completely decentralized exchange system” is a good choice. Among the three issues mentioned above, in addition to performance, there are two very important issues:

1. Security.

2. Compliance.

3. User experience (UX).

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/08/17/what-is-bitcoin-eos-eos-and-bitcoin/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/17/2023 06:49
Next 08/17/2023 07:11

Recommended articles