If you’ve talked to anyone about crypto for any length of time, there is one common misunderstanding that almost always comes up. The crypto newbie will invariably say something about how Bitcoin being able to replace credit or debit cards for everyday purchases. As most of us know, that is simply not ever going to happen.
In its current form, Bitcoin processes 3 transactions per second. Even on fairly low volume days most people who trade crypto know that they should expect a minimum of 10 minutes for processing, and on heavy days, it can take hours. This isn’t a huge deal because unlike debit cards, Bitcoin is really designed more to be a store of value, so longer transaction times isn’t the end of the world.
There does, however, need to be a blockchain based system that will replace the aging credit & debit card networks, which are costly, insecure, and have a host of other problems. Enter EOS. EOS is built for speed in many ways. There is really no comparison between Bitcoin (3 transactions per second) or even Ethereum (30 transactions per second). EOS has a blazing fast, 1 million transactions per second.
This incredible speed would make it easily functional for point of sale purchases that require the speed, while still offering the security and low-cost advantages that can only be found on the blockchain.
Of course, EOS isn’t the only crypto that has fast transaction times, but they have consistently performed well with their road map, and their team is moving forward nicely. The price of their token has gone from about $.70 just a couple months ago all the way to the $4 range where it is now, with peaks hitting $5. If EOS can maintain their leadership in this industry, they could be a huge token in the future, and certainly one that you should keep a very close eye on.