The key difference between EOS and Bitcoin
If you want to become a cryptocurrency investor and convert EOS to Bitcoin it is very important to understand that the technology that underlies these projects in order to make the right choice.
Bitcoin was launched in 2009 as an alternative to centralized payment systems. The main advantage that Bitcoin gives its users in comparison with traditional financial systems is the transaction speed and low fees. However, as Bitcoins popularity drastically grew in 2017, too many investors joined the craze, too many transactions were processed simultaneously and these advantages eliminated, as the confirmation time and the transaction fees increased.
Also, if you want to change EOS to BTC, remember that EOS was created as an alternative to Ethereum which was launched after Bitcoin and offered its users not only the payment system, but also a platform for developing decentralized apps. Ethereum also has the scalability issue and the transaction fees, while EOS resolves these problems. WithEOS, the registered maximum throughput index equals to almost 4,000 transactions per second, while it’s only 19 on Ethereum and 7 on Bitcoin. Also, on EOS you don’t pay any fees.
How is EOS produced?
Exchanging Bitcoin to EOS it’s important to know how these cryptocurrencies are produced. EOS has 20 active producers that are located in different regions around the world. Also, there is one more producer that constantly changes and is selected from approximately 150 companies more. Unlike most other cryptocurrencies where more than half of voting mining/power belongs to 1-5 nodes, EOS can be called truly decentralized.
What is Bitcoin mining algorithm?
If you want to exchange EOS to Bitcoin you should know that these currencies are produced in an absolutely different way. In order to get new Bitcoins, specific equipment consumes electricity and resolves computational problems. The more Bitcoins are produced, the more difficult is the algorithm and the more electricity you have to spend. This, mining Bitcoin is now only profitable for huge companies.
The circulating supply of EOS equals to 906,245,118, while its maximum supply equals to emission infinite.
For Bitcoin, the circulating supply equals to 17,608,175, while its maximum supply equals to 21,000,000.
If you want to exchange BTC to EOS, the market capitalization is a very important index that you should pay attention to.
For EOS, the current market capitalization equals to $3,317,153,626.00. Bitcoin’s capitalization equals to $70,872,183,905.00.
Average transaction speed
Exchanging BTC to EOS may require a significant period of time due to the transaction confirmation in the network. As Bitcoin can only process 7 transactions per second at the maximum, the waiting time can take up to 2 hours.
When you convert EOS to BTC, the transaction passes instantly and you can find your funds in your wallet in a matter of a few seconds.