Huobi Pro Wants in on EOS: Starts Supernode Campaign
EOS has branded itself as a decentralized operating system for blockchains, having inbuilt support for industrial-scale applications. They claim to have eliminated transaction fees and have the capability to process millions of transactions per second. The entire blockchain is powered by smart contracts, much like predominant rival Ethereum.
However, unlike Ethereum who operate on the ‘proof-of-work’ consensus model, which when put simply means miners maintain its distributed ledger system using their computing power, EOS is powered by a system of consensus called delegated proof-of-stake. This means that decision making and mining power is given to selected nodes, in this case named ‘supernodes’.
In an effort to keep some elements of openness and decentralization, EOS demands that those who wish to become supernodes must be elected by it’s continuous approval voting system, meaning a fresh set of delegates must be elected every 21 blocks.
Part of the process is announcing intention for candidacy, which Huobi Pro has recently done through Twitter. Bitfinex, a rival cryptocurrency exchange, also announced its intention through a Medium post.
Originally launched in China, Huobi Pro has expanded rapidly through partnerships across South East Asia, such as an announced deal with SBI Group in December. It is currently the fourth largest digital asset exchange in the world ranked by 24-hour trading volume.
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