EOS - Millions of Transactions Per Second? | Blockchain Central

The video explores EOS, a new cryptocurrency designed for industrial-scale decentralized applications. It highlights EOS's scalability, flexibility, and usability compared to Bitcoin and Ethereum. EOS uses a Delegated Proof of Stake (DPoS) algorithm, allowing millions of transactions per second with only 21 witnesses. The video also discusses EOS's ability to freeze faulty applications and its user-friendly features like human-readable addresses and free transactions. However, it notes concerns about EOS's centralization due to its limited number of block producers.

What are the three main differences of EOS compared to other cryptocurrencies?

• Mining, Trading, Investing

• Decentralization, Privacy, Anonymity

• Security, Speed, Cost

• Scalability, Flexibility, Usability

How does EOS achieve higher transaction scalability compared to Bitcoin and Ethereum?

• By using a Proof of Work protocol

• By increasing the number of nodes

• By implementing Delegated Proof of Stake

• By reducing the block size

What is a hard fork in the context of blockchain technology?

• A method to increase transaction speed

• A temporary network outage

• A software upgrade incompatible with older versions

• A type of cryptocurrency wallet

How does EOS handle application faults differently from Ethereum?

• By allowing any node to freeze the application

• By using a centralized server to manage faults

• By enabling block producers to freeze faulty applications

• By automatically deleting faulty applications

What usability feature does EOS offer that makes it easier for users compared to Bitcoin and Ethereum?

• Higher transaction fees

• Complex transaction processes

• Human-readable addresses

• Limited smart contract functionality

Why are EOS transactions considered a breakthrough in usability?

• They are only available to developers

• They require no internet connection

• They are free of charge

• They are faster than any other blockchain

What is a potential downside of EOS's approach to decentralization?

• It uses too many validators

• It lacks smart contract support

• It requires high transaction fees

• It is too centralized with only 21 block producers