Blog Crypto

Stake officially adds EOS: Here's why you should switch - Stake Blog

News Content

At Stake, it was recently our pleasure to announce the introduction and implementation of a new cryptocurrency to our portal – the well-known EOS . EOS marks the 8th cryptocurrency we have added, and consistent with our aspirations all this while, our primary goal behind adding EOS is to provide our players with more alternatives to bet and relish the features of our online casino and sportsbook. Now, why would you want to switch to EOS as your mode of transaction? Read on.

There are a number of reasons why you should consider EOS as a cryptocurrency of choice, both on Stake and elsewhere:

dApps

EOS offers the ability to develop full-fledged decentralised applications or dApps. This means that anyone can build and develop a dApp and let it run on a platform powered by EOS. These dApps generally use smart contracts to power themselves, however, when using EOS, even these smart contracts are not required. Hence, by using dApp transactions, EOS becomes more efficient.

Free (and faster) transactions

Free transactions are another reason why EOS is a desirable alternative. We know that most cryptocurrencies require additional fees with every transaction. However, when you choose EOS, operations or services can be done free of cost. Another major benefit of using EOS is that transactions settle instantly. Clearly, it saves you both money and time.

EOS governance

Another excellent feature of EOS is the way it is governed. To ensure that it stays as flexible as possible, EOS relies on a voting system on a governance structure model. This means that rules can be modified only by using a voting system. For a blockchain of this scale, sometimes it is necessary to make changes and this is where it comes into the picture.

A Self sustaining platform

A critical reason we now support EOS is that the platform as a whole is self-sufficient. What does this imply exactly? This means that it will consistently and continuously reward block producers for the work they put in. For a large part of EOS’s life, this has been executed by maintaining an inflation rate of 5% per year. In the true spirit of decentralization though, recently the EOS community voted to reduce the EOS inflation rate to 1%. dApps proposals from the community are also funded by EOS annually. Through this, it ensures that EOS is dynamic and growing consistently.

EOS is ICO friendly

EOS is extremely ICO friendly. Since ICOs play a strategic role in the success of blockchain platforms such as Ethereum and EOS, it is a major advantage. Anyone can host ICO on the platform and since smart contracts aren’t mandatory, EOS becomes a more viable option that is more developer friendly.

How To Get Started

EOS is a complete and mature platform that shows considerable promise and potential for growth. In other words – EOS is a viable alternative worth your consideration. The EOS coin can be used to generate tokens for platforms, and with this token holding model, users can gain access that is proportional to the number of tokens.

We recommend going with EOS, which is available once you head over to the Cashier section on Stake.

Select EOS in the drop down menu while selecting a cryptocurrency alternative, and get on board! You can then use it for deposits, withdrawals, vault transfers, or coin exchanges.

Already up this financial year by 10%, EOS has nevertheless remained stable from the starting of the current financial year to the end of June 2020. As of writing, it is down from a recent high, which may encourage many to buy.

As we said, there’s potential to grow exponentially as decentralised apps become increasingly common in the world of crypto. Tokens are a great means to engage with this cryptocurrency, and if our users want a break, they are a viable investment vehicle too. Stake is proud to officially add EOS support to the website to make the user experience easier and smoother, and we hope you’ll enjoy the experience too.