The key difference between EOS and Ethereum
If you want to make money investing in cryptocurrencies and want to exchange EOS to ETH it is vital to understand the technology that stands behind them in order to select the coin that would make help you make a good profit.
Ethereum is not only the means of payment, as this project offers a platform for developing decentralized apps. Launched in 2014, it has shown a totally new way of creating applications basing on smart contracts that can play the role of mediator in any deal. Remember this if you want to switch EOS to Ethereum.
However, as the popularity of cryptocurrencies increased in 2017, many flaws and issues were revealed, especially for Ethereum. It can only process 19 transactions per second at the maximum and when the network is overloaded the transaction fees get very high.
EOS has all the potential to replace Ethereum, as it already has a maximum TPS of 4000 and you don’t have to pay any fees to send funds to another person. This fact can play a significant role for those who want to convert EOS to Ethereum.
How is EOS produced?
If you’ve made a decision to change EOS to ETH you should be aware of how these cryptocurrencies are created. The core idea behind almost all the cryptocurrencies is the decentralization which means that the coins can be produced by different machines worldwide and do not depend on one company or a central bank. However, for most of the popular cryptocurrencies more than half of voting and mining power belongs to a very small amount of nodes. EOS offers more decentralization as it is produced by 20 active companies and also one more which constantly changes and is selected from around 150 companies more. If any of the active block producers tries to cheat the network he is replaced by another one from the reserve pool. This ensures the security of the network and is a good advantage for those who have decided to convert ETH to EOS.
What is Ethereum mining algorithm?
If you want to switch ETH to EOS the following information can be useful to you. Ethereum was created as an alternative to Bitcoin and is based on the same mining algorithm which is called proof-of-work. It works in the following way. Specialized machines resolve computational problems in order to find the blocks where the information about the transactions in the network can be stored. For resolving these problems, they consume electricity. Unlike Bitcoin, Ethereum can be created only on the end-user machines, but still, the mining process is no longer profitable.
The circulating supply of EOS equals to 950,226,360, while its maximum supply equals to emission infinite.
For Etheeum, the circulating supply equals to 109,428,059, while its maximum supply equals to emission infinite.
If you want to exchange Ethereum to EOS, the market capitalization is a very important index that you should pay attention to.
For Ethereum, the current market capitalization equals to $3,380,004,176.00. EOS capitalization equals to $17,720,839,918.00.
Volume of transactions
During the last 24 hours, EOS volume of transaction equals to $2,120,431,473.42. For Ethereum, this index equals to $8,293,173,917.33.
Average transaction speed
As Ethereum has very low throughput and can only process 19 transactions per second you have to wait between 5 and 30 minutes for your transaction to be confirmed by the network. If the network is too much overloaded the waiting time can increase up to several hours. With EOS the transactions are instant and you can expect to receive your coins in a matter of a few seconds after you make an exchange.