What is EOS ?
EOS is a blockchain-based, decentralised system that allows commercial-scale decentralised apps (dApps) to be developed, hosted, and executed on its platform. EOS has no official full form, and its developers have decided not to describe it fully.
Primary features of EOS
- EOS contains two key components: EOS.IO and EOS coins.
- EOSIO is in charge of and handles the blockchain network of EOS. EOS is the name of the cryptocurrency coin used by the EOS network.
- The requirement to build decentralised applications (dApps) and access network resources is to hold EOS tokens.
- OmniOne is a decentralised identity solution for EOSIO.
- Chainflux is a traceability solution for EOS, which is powered by blockchain technology.
- Ultra is a game powered system developed on the EOS blockchain platform.
Is EOS a promising cryptocurrency?
EOS is now rated 10th on the global scale of cryptocurrencies. For those wishing to invest in the EOS currency, 625 million EOSs are in circulation at present. For this reason, we can consider EOS as pretty safe in all aspects.
How to use EOS coins?
- Trade for other cryptocurrencies: EOS tokens are fungible. So, we can easily exchange EOS for other cryptocurrencies like bitcoin.
- Investment: You can also buy EOS coins and hold on to them for a further price increase.
- Transactions: Carry out transactions with EOS coins with merchants that accept EOS coins.
Pros & Cons of EOS coin
- The higher TPS makes it highly capable of handling a higher amount of transactions per second.
- There are zero transaction fees. So, dApps developments are much cheaper in nature.
- Parallel processing is enabled in EOS’s technology.
- EOS’s collaboration with startups may facilitate a robust ecosystem in the near future.
- Many merchants such as Bidali, BC games accept EOS for transactions.
Even though EOS is trying to boost up the market, many users still believe that EOS is a small fish in this giant sea.
Trade EOS coin on CoinSwitch kuber
Thanks to the CoinSwitch Kuber order matching engine, you can get the best rate at the click of a button.
- Start investing in EOS coins with just Rs.100.
- Carry out trade in 100 different assets, including EOS Coins.
- Avail zero trading, deposit and withdrawal fees for the first 100 days
- The trading platform is safe and secure.
EOS ICO summary
The initial coin offering lasted one whole year, from June 26, 2017, to June 26, 2018. Following the introduction of EOS, users got one billion ERC-20 tokens.
EOS developers released tokens on the Ethereum technology to raise money, as the EOSIO was not launched during that time. Still, EOS was able to garner over $4 billion. And, subsequently, they developed the EOS blockchain and EOS ecosystem.
FAQ's on EOS
- What is EOS?
EOS provides all of the necessary basic features to help organisations and people to develop blockchain-based apps.
- Does EOS have a mining concept?
No. They have a team of block producers. The production is carried out based on the requirement of blocks.
- Is EOS listed on the exchanges?