Page 33 - Understanding EOS TojuKaka FlipBook

takes 2 weeks. EOS is able to achieve this speed
despite being a blockchain because it uses a special
consensus method called Delegated Proof of Stake
(DPOS). Blockchains are inherently slow because
they are decentralized and each node in the network
has to agree on a transaction before it is confirmed.

EOS has zero fees

It costs zero fees to operate on the EOS network.
With EOS, someone in Nigeria can send $0.001 to
anyone anywhere in the world, in 0.5secs, with zero
fees! This is a big deal!! Before now, you have to
spend about 20% on fees using services like western
union. This means that if you wanted to send $1000,
you could spend $200 in fees.

Free transactions also offer immense value to
businesses that deal with microtransactions. For
example, game developers can now build games
where users would be able to purchase in-game items
with fractions of a cent using the free transaction
formula of the EOS blockchain.

33