The Cryptocurrency Exchange Huobi Will Soon Start Generating EOS Blocks
The Chinese cryptocurrency exchange Huobi announced the plan for generating blocks of the EOS blockchain network. Representatives of Huobi announced their intentions to introduce the EOS blockchain network into their business structure during the "EOS Supernode Party".
The EOS platform has some similarities with Ethereum, which allows to fully provide for an ecosystem that specializes in the development of decentralized applications. However, the similarity does not extend for many aspects, because unlike Ethereum, EOS operates on the basis of the delegated proof-of-stake (PoS) method, NewsBTC reports. The above-mentioned method has distinctive characteristics that make it possible to determine the hash power by counting the number of tokens that users or a node hold.
The standard PoS method has advantages that allow models to prevent the monopoly of the network, but, at the same time, lead to centralization. The delegated version of PoS is special. When it is used, the network blocks can be generated with selected supernodes, which is exactly what the Huobi Exchange intends to do. The EOS blockchain network starts operating independently from Ethereum on the 2nd of June, 2018. To implement, the transition of approximately 21 supernodes, which the functioning of the EOS network depends on, it will have to support the transition from Ethereum. Such giants as AntPool and ViaBTC also began to cooperate with the EOS blockchain network, we remember that the trading partners EOS-BTC, EOS-ETH, EOS-HT are available on one of the best cryptocurrency exchanges Huobi.