EOS Cryptocurrency in a Nutshell

EOS Cryptocurrency in a Nutshell

EOS Cryptocurrency is non-mineable. EOS can only be purchased or traded for other cryptocurrencies.

EOS is a ERC20 compatible token. Its contract can be viewed on Etherscan.

Maximum circulating coins

EOS Cryptocurrency will certainly have a circulating supply and these are coins that are already existing or saved in wallets – 1 Billion for the ICO (695,625,801 EOS).

History

The EOS came from the mind of the creator and founder of Bitshare and Steem named Dan Larimer. Both of the company has gained popularity in the Cryptocurrency infrastructure and still running as of today. EOS was first introduced to the public by Larimer with an odd ICO launch at the 2017 Consensus.

EOS token has a yearlong token distribution period and ICO, compared to other Cryptocurrencies, the launch and distribution are faster.

What makes it Different?

EOS Tokens is currently aimed at the most powerful infrastructure or platform for decentralized applications. It provides authentication, databases, accounts, application scheduling on the clusters of CPU cores, and asynchronous communication. EOS tokens are also the first blockchain with its own constitution.

Additionally, these tokens will now have the innovative ability to processes thousands and even millions of transactions in just seconds through the horizontal scaling which eliminates the user fees and provides easy upgrades, bug recovery-low latency, and for easy and quick deployment of decentralized applications. This, in fact, blows other olds Cryptocurrencies like Bitcoin and Ethereum primarily because EOS could create apps which are not distinguishable from their centralized similarity.

This Digital token claims that it doesn’t have any rights, purposes, functionalities, uses, and features on the EOS platform. The new blockchain platform with the use of DPOS or delegated proof of stake and intended for both horizontal and vertical scaling of decentralized applications.

Who is behind EOS?

Aforementioned, Dan Larimer – founder of Steem and Bitshare, created and launched EOS since June 26th of the year 2017. Additionally, it is the completely open source, you could check the source link below.

This token is similar to the Ethereum Blockchain which are both utilizes the blockchain and its associated contracts and native currency values in order to create an ecosystem or platform for developing decentralized applications.

The process will last for over 341 days which has gone through several steps. At the end of each period, the amount of reserved tokens is being distributed among the participants of EOS ICO with a proportionate amount of ether invested on each period. As the crypto markets continue to grow and become more mainstream, investors a have less tolerance for baseless ICOs and projects.

Links

Official Website

Announcement Thread link to BitcoinTalk

Block Explorer Link

Github source code

How to buy Cryptocurrency

Should you invest in EOS?

Why Ethereum may be a better investment than Bitcoin

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