Blockchain technology is rapidly developing, since it offers absolutely unique valuable opportunities for both commercial and technical enterprises, as well as for ordinary consumers. The system is a basis for all types of applications for various events and transactions. To exchange various valuable assets safely and transparently without to turning to intermediaries, these functions are lumped into smart contracts.
Launched in 2017, the EOS platform is a proper alternative to Ethereum. It is decentralized, features high transactions processing speed, high level of user data and accounts security, as well as a wide range of technical capabilities.
EOS-based smart contracts
EOS-based smart contracts can be developed within a number of fields. In many ways they are similar to ETH; however, the difference is that transactions are carried out by Proof-of-Stake (PoS) mechanism. A user can perform any actions in the system only in case he possesses a certain token amount. An absolute advantage of the protocol is that it's free of any transaction fees, with its bandwidth and available data storage capacity being proportional to the amount of tokens in possession. The platform makes it possible to edit EOS applications without modifying contracts. The system's rapid growth and popularity also arises from an enormous number of processed transactions (up to 100 thousand per second).
Of course, the system is still far from being perfect; however, developers are working hard on removing shortcomings. Smart contracts in no way are related to the real world events; thus, one needs oracles. However, being centralized, they are exposed to increased risks of human interference, which can result in transactions being less secure.
Being extremely experienced in developing blockchain-based applications, we offer to prepare secure smart contracts in a wide range of various fields – from manufacturing and finance to meeting the requirements of ordinary consumers. We will help you to open up new horizons with the EOS platform. The company's professionals are always at your disposal for free competent advisory services on smart contracts development using various platforms.
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