EOS – A BRIEF INTRO FOR INVESTORS
EOS looks to bring the best of all aspects of blockchain technology together to create a platform for developers to build smart contracts and decentralized applications (dApps).
- Operates on a delegated proof-of-stake (dPOS) consensus mechanism
- Parallel processing allows multiple things to be done concurrently
- Developers can create decentralized autonomous corporations (DACs)
- EOS tokens are ERC20 compatible and follow an EOS-specific Ethereum smart contract called ‘EOS Tokens’
The EOS ICO launched 1 billion coins. As a proof-of-stake protocol it will have a growing supply and annual inflation that is capped at 5%.
EOS promises the scalability and speed that its biggest competitor, Ethereum, can’t provide. This is through a combination of parallel processing, asynchronous communication, and delegated proof-of-stake, among other technological innovations.
The EOS blockchain is designed as a public blockchain with transaction amounts and history available for public viewing.
Dan Larimer heads the development team and is a very well-known name in the blockchain industry. He is heralded for designing the delegated proof-of-stake consensus mechanism and was a founder at the decentralized exchange Bitshares and cryptocurrency Steem before leaving both projects. Partner Ian Grigg is a financial cryptographer with 20 years experience in developing technology to link legal contracts and financial applications.
The decentralized operating system of EOS takes smart contract and dApp technology to another level, and provides a network that can handle almost anything imaginable. Acting as a decentralized operating system, EOS aims to be the foundation for the next generation of internet protocols.
EOS will act as a decentralized operating system, giving developers flexibility and security as well as the ability to scale without the worry of network congestion.
Unlike other proof-of-stake coins, the EOS coin will be used to claim a stake in using the blockchain, with the amount of bandwidth and storage usable directly correlated to the amount of EOS held, and by doing so, this process will eliminate fees for the end user.
Token holders will also be given an opportunity to vote for elected mining nodes to secure transactions on the blockchain. Servers that host data from the EOS blockchain are incentivized to do so via mining rewards.
Other coins can be built on top of the EOS blockchain, allowing for new ICOs and giving developers more flexibility. The project is being developed by the blockchain company Block.one, but is expected to be released as an open-sourced protocol. Block.one has also instituted a venture capital fund specifically aimed at developing projects to support the EOS platform.
HOW TO BUY EOS
EOS can be purchased via cryptocurrency trading exchanges. In most cases you will have to first buy a common crypto, such as Bitcoin or Ethereum, and then trade the currency for EOS. Find the exchange that best suits your trading needs and follow the directions to purchase EOS.
EXCHANGES WHERE YOU CAN BUY EOS
|EXCHANGE||COIN PAIRS TRADED|
|Bibox||EOS/USDT, BTC, ETH|
|Bitfinex||EOS/USD, BTC, ETH|
|Liqui||EOS/USDT, BTC, ETH|
|Kucoin||EOS/BTC, ETH, NEO|
|OKEx||EOS/USDT, BTC, BTC, ETH|
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