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Interesting Facts about EOS

You won't be fully immersed in crypto without a piece of EOS.

EOSIO, through the creating and managing project, raised a whopping $4 billion in ETH in their yearlong ICO—and that perhaps is the first fact.

We won't be fast.

EOS is like Ethereum, a smart contracting platform. In fact, EOS' virtual machine is compatible with Ethereum's. 

Nonetheless, EOS doesn't use Proof-of-work—and, therefore, energy inefficient. Instead, the creators choose a different consensus algorithm. 

If anything, EOS is the first blockchain to deploy the delegated Proof-of-Stake consensus, bringing together 21 super validators called Block Producers.

This decision does make EOS one of the most scalable smart contracting platforms, free from boggy transaction fees, explaining why the protocol handles more intensive, low-fee-dependent dApps. 

A combination of Graphene technology, a dPoS architecture, and a multi-lane processing capacity means the network can process up to one million transactions per second. EOS is a favorite platform for gambling and crypto gaming dApps.

Cycling back to its creators, EOS is not managed by a foundation. Block One exists purposely to steer the network's development. 

The technical team was led by Dan Larimer—the brains behind other successful projects, among others, Steemit. 

Dan is better known as Byte Master (BM) in crypto circles. He doesn't settle. BM is now working on a new project, Clarion—a social network.

For more interesting tips and facts visit our Education Centre.

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