What is EOS?
EOS is a cryptocurrency in the Top 10 electronic currency (Coinmarketcap). The EOS technology is a blockchain capable of scaling up to millions of transactions per second, eliminating user fees and allowing for fast and easy deployment of hierarchies.
The company behind EOS has developed a platform that it expects will surpass Ethereum, which will play the role of major global adoption technology in the next few years.
This is one of the most ambitious statements, but when you look at the EOS platform's technology, at the same time, when you look at what the company has achieved to date, this is quite possible.
EOS is a project developed by Dan Larimer, a design and engineering expert at Steem. EOS will allow similar smart contracts with Ethereum but with better performance and scalability.
EOS using Web Assembly - one direction of the language in the performance performance.
Web Assembly is a new model for web developers, can use and edit many programming languages such as C, C ++, Rust, even Solidity. This would allow EOS to convert the code quickly.
Currently, EOS is being traded on Huobi Pro, paired with USDT, BTC, ETH and HT.
Create a Huobi Pro account if you don't have.
Please see the video to learn more: https://bit.ly/2z3bVaY
What is PoW?
Proof-of-work (PoW) is also known as work proof algorithm. This algorithm helps miners solve mathematical equations in Bitcoin digging. There are many ways to solve math equations, but the system chooses only the best answer. The Blockchain system can not be fooled because it contains a list of the most appropriate answers.
The core of the proof of work algorithm is the computer power resource. More energy is needed for the computer system to get the best answer. If you look at the ecological aspects this is not at all beneficial. Mine workers use too much energy and cause bad effects on the environment.
What is PoS?
Proof-of-stake (symbol: PoS) or algorithm with an existing certificate when a manual training section into a currency type of which can be specified to verify for the transaction block. Chứng minh toán học của cổ phần khá đơn giản dành cho máy tính vì bạn chỉ cần chứng thực mình own own a equity ratio of the currency type. Ví dụ, if you own 5% save Ethereum of the current status, you have permission to extract all 5% Ethereum transaction.
Proof of stake is considered a fairer system than proof-of-work when everyone can become a miner. No matter large or small, the scale of exploitation will be linearly proportional to the number of shares held. This encourages the community to engage in transactional verification, increasing decentralization and democracy.
What is DpoS?
Delegated Proof of Stake (DPOS) - Equity Proof of Stake (DPOS) is a new way to secure your money's network. DPOS strives to address the problems of both Bitcoin's Proof of Work (POW) systems and the Peercoin and NXT Proof of Stake (POS) systems. DPOS implements a technological democratization to offset the negative effects of centralization.
Invented by Daniel Larimer, Proof-of-Stake (DPoS) is an alternative consensus mechanism requiring shareholders to vote for "delegates" who are then responsible for confirming transactions and Maintain blockchain.
Advantages of DPOS
Energy Cost Savings: In contrast to PoW, it requires a great deal of energy to decide who can add the next block to the blockchain, with DPOs, witnesses gave a specific time to add the next block. follow blockchain. Consequently, specialized computers are not needed to solve the complex math problems required for PoW.
Increasing decentralization: In order to become a successful operator of cryptocurrency using the PoW mechanism, you are required to build large operators to increase the chance of adding the next block. This fosters focus because, only those who can afford the big rigs will be able to exploit a secret cipher. In contrast to the DPoS consensus mechanism, which allows stakeholders to choose who to confirm transactions, thereby promoting decentralization.
What is RAM?
On the EOS network, RAM is mostly used by developers to store the data used in the launching and production of decentralized applications (dApps). RAM, in this case, refers to general storage space in the EOS memory database, and can also be used to create new accounts.
Users have to purchase a minimum of four kilobytes to open an account on EOS, essentially staking out a portion of the network’s processing power for their own projects.
EOS ranks 5th in terms of market capitalization. With more developers adopting EOS for smart contract purpose, the demand for EOS RAM required will increase in the market, indirectly raising the price of RAM. In such cases, developers will be required to purchase the RAM from the users who own them. Only ~17% of RAM is left to be occupied after which it can only be purchased from the user who owns it.
EOS RAM Price?
On June 20, Ram RAM in the EOS network cost about 0.01 EOS per kilobyte. July 1, RAM in the EOS network cost about 0.11 EOS per kilobyte. On Jul 03, the price had doubled to 0.20 EOS/KB before blasting off to a current rate of 0.57 EOS/KB
Right now there is just 64GB of total RAM available on EOS. And this would increase slowly — it is fixed for a certain period until there is a meeting between block producers and they decide on increasing it. Ideally, it should increase with Moore’s law, it should become twice every 2 years.
EOS can solve the problem of expensive RAM?
Personally, I think this is very hard.Because, RAM capacity on the EOS network can be increased in the future, which could mean the end for hoarders. However, for making such a change, the EOS network requires 2/3 majority votes of approval from the 21 nodes that govern the system.
Many have criticised EOS for being largely centralised and the fate of RAM also lies in the hands of these 21 nodes, who may or may not hold any RAM.
For now though, RAM prices seems to be sidelining. But with Bitbns’s launch of RAM trading, who knows where it can go.
