What is EOS coin?


What is EOS coin?

We all have seen the first of the cryptos, Bitcoin, the ancestor of smart contracts and DAPPS – Ethereum, and many other breathtaking technologies aimed to revolutionize our routine world.  It’s harder and harder for new developers to present something brand new to the public.

However, Block.one, the company which stands behind the EOS technology, just did it with their announced blockchain platform.

The blockchain platform called EOS.IO at first look is the strongest and closest competitor for Ethereum network, since it’s also all about smart contracts and DAPPS. However, it’s not that easy.

The longest ICO in history

EOS started the initial coin offering about a year ago, in June 2017, so at the moment it is the longest ICO in blockchain history. Block.one has been selling 2 million stacks of tokens each 23 hours and managed to sell  tokens for $185 million in first five days.

During the ICO, EOS price was not fixed but depended on the market demand. With 1 billion tokens sold and $4 billion raised, the average price of the tokens for the last year was about $4 per token. However, in the future this price is expected to grow.

EOS’s value is based on the principle that token-holders are the only ones who can select block-creators. Further development of the network will increase demand on token-holders, so EOS tokens seems to spread more and more, so trading volume of the coin supposed to increase, making it more valuable.  

Decentralize everything

The motto is “Decentralize everything”

EOS.IO is going to create a platform which will allow to implement blockchain technology in nearly every sphere of the life. The main aim of the company is to create scalable platform for smart contracts and creating high-performance and well-secured DAPPS.

According to the white paper, EOS.IO is going to become a program for blockchain network global scaling. In other words, EOS.IO is going to be the first decentralized platform providing a program environment for developing distributed applications with both sequential and parallel performance. It allows support applications with sequentially dependant steps and ability to maintain large scale apps, which normally need several CPUs and computers to work properly.

How can I buy EOS token

How can I buy EOS tokens?

Token selling finished on June 1st, 2018. They raised $4 billion in total for a year of token sales. Nowadays, EOS coin or token is top-5 in market capitalization of all cryptocurrencies. At the moment of publishing, the average estimated price of the EOS token on Binance exchange was $10,73.

Where to buy EOS?

EOS coins are supported by the major exchanges, such as Binance, Shapeshift, Changelly and Coinbase. As far as the EOS.IO mainnet was released and launched, token holders have chosen the so-called “block producers” and now more and more exchanges supposed to start trading the EOS coins.

EOS mainnet launch issues

The EOS ICO finished on June 28th, but the network launch experienced some difficulties and was delayed for two more weeks. On Saturday, June 2nd, Block.one released 1.0.0 version of future blockchain mainnet and before long was updated to 1.0.1 version. Then, on June 9th, mainnet was released, but yet not launched – this required at least 15% of token holders’ to vote for first stake of so-called “block producers”. This voting took almost one more week and only on June 14th the network was launched.

However, it was not the last difficult for EOS – two days after mainnet was launched, on June 16th, Network was “frozen”. No one yet really know, why did it happened, but one of the main versions is a DDoS attack. Now the network is working stable, after the “pause” issue was solved.