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EOS
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EOS
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The price EOS today is 3.87 USD, and the trading volume in 24 hours - 2,119,080,865 USD. The crypto asset has grown by -18.78% over the day. Currently, the coin’s market capitalization is 3,709,067,059 USD, and has 958,594,347 coins in circulation with the max supply of 1,034,678,093 coins EOS.

What is EOS?

EOS positions itself as a platform that allows developers to create decentralized applications (dApps).

The goal of the project is relatively simple: to make it as easy as possible for programmers to master blockchain technology and make the network easier to use than its competitors. As a result, tools and a range of educational resources are provided to support developers who want to quickly build functional applications.

Other priorities include providing a higher level of scalability than other blockchains, some of which can process less than a dozen transactions per second.

EOS also aims to improve interaction with users and businesses. While the project tries to provide more security and less trouble for consumers, it also aims to unlock flexibility and compliance for businesses.

The blockchain was launched back in June 2018.

Who are the founders of EOS?

The EOS platform was developed by the company Block.one, and its whitepaper was written by Daniel Larimer and Brendan Bloomer.

Both developers are still members of the Block executive team.one: Bloomer is the CEO and Daniel Larimer is the CTO.

Bloomer is a serial entrepreneur, and one of his first ventures was selling virtual assets for video games. He co-founded Okay.com, a real estate agency in Hong Kong focused on digital technology.

Larimer is a programmer who has also started a series of cryptocurrency projects. These include the BitShares cryptocurrency platform and the Steem blockchain.

They met in 2016, and formed Block. one the following year.

What makes EOS unique?

To some extent, it can be argued that EOS aims to make its users more familiar. EOS is a cryptocurrency that manages the network.

According to the company, the project is able to meet the needs of hundreds, if not thousands of dApps, even if they are used by a significant number of people. Parallel execution, as well as a modular approach, is considered to contribute to this efficiency.

Token holders have the opportunity to vote for block producers, as well as decide on other issues, such as protocol updates.

Unfortunately, some of the most distinctive features of EOS are not liked by some critics. According to them, the broad participation of Block.one in this project means that it is quite centralized, which is the opposite of what blockchains and cryptocurrencies were designed for.

How many EOS coins are in circulation?

At the time of writing, there are 936 million EOS coins in circulation, and the total amount of coins is 1.02 billion.

Block.one held an ICO for EOS back in 2017, and it lasted a year - significantly longer than many ICOs held at the time.

A total of $ 4.02 billion was raised. If you look at the distribution of tokens, 10% was allocated to the founders, and 90% to investors.

It is worth noting that Block. one did not receive this distribution immediately. This will happen over a 10-year period.

How is the EOS network protected?

EOS uses the Proof-of-Stake consensus mechanism. This concept was developed by Larimer and is aimed at eliminating some of the shortcomings that are observed in pow and pos systems.

As explained earlier, EOS token holders can vote for representatives who will be responsible for verifying transactions. One advantage is that it helps eliminate consolidation, where smaller miners are pushed out by those with higher levels of computing power and resources.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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