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Ethereum VS EOS: Which Is Better for Casino Games?

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Ethereum is a smart contract platform designed to help developers build decentralized applications (DApps). It is currently the second-largest cryptocurrency by market capitalization and a hub for Decentralized Projects (DeFi). The blockchain uses a Proof-of-Work (PoW) consensus algorithm, same as Bitcoin, Cardano, Bitcoin SV, and other similar cryptocurrencies. Although Ethereum was known for fast and cheap transactions, things have changed recently with the coming of DeFi.

As it is the network that hosts most DeFi projects, it has been faced with several challenges, including a congested network, high transaction fees due to too much traffic and inability to scale. For this reason, Ethereum intends to change its consensus algorithm to Proof-of-Stake (PoS). This is believed to increase the scalability of the network to be able to handle more transactions per second than it currently does.

EOS is another smart contract platform that supports DApps and is therefore considered an Ethereum competitor. EOS’s strength is its ability to settle transactions in seconds at no cost. The team’s goal is to get it to process 1 million transactions per second, far more than what Ethereum can do.

As EOS processes transactions at such high speed, it is ideal for the transfer of value from one person to another. It is also more effective for interacting with DApps and smart contracts, as the cost of doing this is far less than that of Ethereum.

How PoW Differs from DPoS

The PoW consensus algorithm was the first to be invented, of course, because it is the one used by Bitcoin, the first cryptocurrency. The algorithm is used to mine cryptocurrencies by rewarding miners with new coins after they verify transactions. Miners utilize sophisticated equipment currently known as ASIC miners. These require an enormous amount of electricity to operate and maintain.

This is one of the shortcomings of Bitcoin that anti-crypto people have pointed out. Even if it is more reliable in keeping the network safe for Distributed Denial of Service (DDoS), the need for extra electricity and the difficulty of solving the puzzles in mining is a major weak point.

DPoS, in turn, is a consensus algorithm that does not involve the use of miners, neither does it require a lot of electricity. In this system, the community (holders of a coin) votes or delegates a number of people with the highest stake of the coin. These people take responsibility for validating transactions to ensure transparency and eliminate centralization.

Although the inventor of the algorithm, founder of EOS, and creator of BitShares, Daniel Larimer, thinks that a smaller number of validators will effectively take care of centralization, some crypto experts may argue that a larger number of validators is ideal, as there is a lower chance of compromise. This is why DPoS may be more vulnerable to DDoS attacks than the PoW systems, where there are thousands of nodes distributed globally, which help to secure the network.

EOS Application for Betting

EOS is good for facilitating fast and cheap transactions, which makes it ideal for betting on crypto casinos. Many online casinos now support the use of cryptocurrency, and 1xBit is one of the top ones. The website has more than 20 cryptocurrencies available, and the signing up process is easy after which the user can receive a welcome bonus of up to 7 BTC. The account on the platform supports several cryptocurrencies, and you can easily withdraw your earnings at no fee. 1xBit is also completely anonymous, so you can use it without having to reveal your identity.

Because of EOS’ characteristics of fast transactions with no fees, it is an ideal cryptocurrency for online betting, and if you are looking for a betting coin, this may be a good option to consider on 1xBit.

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Shahrukh writes all things about the blockchain and cryptocurrency. He studies Business and Economic Reporting.

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Shahrukh writes all things about the blockchain and cryptocurrency. He studies Business and Economic Reporting.

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Stratus, the new eye-catching social media platform, plans to free social media users from unnecessary censorship while offering a wide range of socialization, entertainment and financial services. It provides a blend of popular features and functionalities from big-tech social platforms like Instagram, Facebook and Twitter. The social network’s CEO Stephen McCullah strongly advocates for free speech protection while guaranteeing data integrity and privacy. He underscored the need to integrate these critical values into the social media space while announcing the launch of Stratus on Twitter. Users will get to enjoy a broad ecosystem that thrives on the much-needed principles in social media service; security, freedom of speech and convenience. The platform’s abilities are also extended far beyond the scope of exciting social media ecosystems. It also incorporates trading and settlement services by availing functions of Paypal, Coinbase and Robinhood. Stephen McCullah Fighting For Freedom of Expression Ever had an opinion disregarded just because it is unpopular or goes against the mainstream narrative? Governments are tirelessly working to pass laws that will give them the right to restrict the overall flow of content and ideas viewed as dissident or controversial. However, McCullah and his team believe that everyone has a right to speak their mind, so they deserve a social forum free from any form of third party manipulation or censorship. Stratus is here to save user opinions from being overshadowed and taken down. McCullah’s team is always on standby to safeguard users’ marks from censoring unless the statements encourage criminal affairs. Mainstream social media platforms are becoming unreliable regarding data integrity, which Stratus was created to address. Existing social websites such as Facebook and Twitter often track and mine private data from users and sell it to governments, market surveyors or advertisers for a profit. The project has placed security mechanisms to protect its users’ details from identity theft, sales, and private information distribution. Stratus is opposed to all data phishing strategies that essentially constitute a breach of privacy. The platform has encryption mechanisms to ensure that user account info chats and messages are safe from prying eyes. Unlike other social media networks, Stratus guarantees that permission to share any content is given only by the account owner and not by its platform. When it comes to verification, Status allows users to blue tick their accounts so that all participants in the ecosystem can quickly identify fraudsters, catfishes and criminals. The platform also integrates features that cushion people from the threats of cyber-bullying and social profiling. Introducing Interoperability in Social Network Platforms The Stratus ecosystem eradicates the shortcomings in the social media space due to a lack of interoperability. Users cannot enjoy the features of more than one multiple platforms simultaneously. In one convenient website and app, users of the McCullah-led social network get a collection of services like video sharing, chatting, e-commerce and cryptocurrency trading. This interoperability creates a cross-platform system that spares people from the troubles of opening multiple accounts on numerous websites and having to regurgitate their profile info each time they sign up for a new platform. Stratus also considers the effort made by content creators, who are often underpaid for their work because the accolades fall on the service stakeholders. Stephen McCullah believes content creators with a large following should be the sole beneficiaries of their hard work and creativity. His team came up with many ways for influencers to earn revenue at higher rates than on any other social network.

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