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EOS.IO is a blockchain technology like Ethereum for the deployment of decentralized applications and a decentralized autonomous corporation.
EOS Uses Delegated Proof of Stake (DPOS) plus BFT algorithm for the Consensus mechanism. Delegated Proof of Stake (DPOS) is the fastest, most efficient, and decentralized POS mechanism. It uses a reputation system and real-time voting to achieve consensus. The blockchain is validated by a set of master nodes. The powers in the network have been delegated and no single party will be able to control the entire process. Every member of the network has more power and rights.
EOS Block producers are the ones who will collect transactions in the network, create blocks, and broadcast the blocks to another producer. There are 21 block producers which is also known as Supernodes and it will be constantly changing. The BPs use optimized hardware and they will sync only with those 21 parties instead of the entire network. Block Producers will receive block rewards and network prestige in return for their work.
Block validators are full nodes that verify the blocks created. A full node is a program that fully validates transactions into blocks and for confirming transactions we need 14 nodes only.
EOS Supernode produces - 6 blocks with a block time of 0.5 seconds and a total of 126 blocks (21*6) at 63 seconds (126*0.5 seconds).
Transaction per second 4000
Block time- 0.50 s
Transaction fees-nil
EOS news updates-
The EOS Network Foundation and EOS Labs, leading stewards for the EOS blockchain, are thrilled to announce a pivotal partnership with CoinTR, Turkey's leading cryptocurrency exchange.
It announces a strategic partnership with ESCC to bolster the EOS stablecoin.
EOSUSD prices pared some of its gains after a 70% jump from Oct low. It hit a high of $0.8800 and currently trading around $0.7798. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $0.8800, any indicative breach above will take the pair to $1/$1.35/$1.95. On the lower side, immediate support is $0.69, and any violation below targets $0.60/$0.50.
Indicators ( Daily chart)
CCI(50)- Bullish
Directional movement index - Neutral
It is good to buy on dips around $0.6900 with SL around $0.50 for TP of $1.35$1.95.
