Merchants Can Now Accept EOS Transactions Via CoinPayments
EOS has introduced a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (
How Does it Work?
EOS was developed with the goal in mind of being able to accomplish several goals through a blockchain solution:
- Support millions of users – to be able to compete with large established technology companies which can support a massive user base;
- Free Usage – providing flexibility to developers and value to users, plus encouraging adoption through a free to use service;
- Easy upgrades and bug recovery – ease of use for businesses upgrading with new features, and robustness when tackling bugs in the system;
- Low latency – reliable feedback and low latency of transactions;
- Sequential performance – to facilitate the management of high volumes on the platform;
- Parallel performance – allowing the platform to divide workload across multiple CPUs and computers to increase speed and efficiency.
EOS runs with a delegated proof of stake (DPoS) consensus algorithm in conjunction with the asynchronous Byzantine Fault Tolerance (aBFT) to achieve lightning fast transaction irreversibility. Within 1 second, the transaction is irreversible on the blockchain.
CoinPayments was started in 2013 as the first altcoin payment processor and has since grown to support payments for bitcoin and over 1,000 altcoins for their userbase of over 2.3 million accounts across 182 countries. The easy to use platform offers prebuilt plugins and integrations for all the major ecommerce platforms, including Shopify, Woocommerce and Magento. With hosted wallets, conversion and fiat settlement functionality, CoinPayments leads the way in furthering the adoption of cryptocurrencies.