What is EOS?
EOS is a cryptocurrency that is used inside the EOS blockchain. EOS blockchain is a decentralized operating system. This system is designed to support decentralized applications on a commercial scale.
Where did EOS come from?
It appeared in 2017. A private company named Block.one presented publicly available testing environment EOSIO. The CEO of this company, Brendon Blumer, has been involved in blockchain since 2014. The CTO of this company is Dan Larimer. He is the creator of delegated proof-of-stake and decentralized autonomous organizations.
EOS Dawn 1.0 was released in September 2017, the Dawn 2.0 was released in December 2017, and EOS Dawn 3.0 was released in April 2018.
EOS is a type of decentralized operating system. Constitution of EOS is based on a set of rules on which everybody agrees upon. The applications running on this system are able to communicate with each other, and users easily interact with them. That is supposed to be a significant feature that differs EOS from Ethereum. Basically users can't make any changes in constitution. Yet there are several processes by which the constitution and protocol can be amended.
A developer needs to have EOS coin to use the EOS blockchain. It is stated that EOS coin doesn't have any value. Nevertheless the coin market capitalization has already surpassed other cryptocurrencies.
What are the advantages of EOS?
- It is created to provide a decentralized platform to host applications, implement smart contracts and use blockchain for businesses.
- It will eliminate fees charged for transactions. For now, the commission is low.
- The target of EOS is to be the first decentralized operating system.
- The native coins allow owners to participate in voting.
- High speed. In fact the developers are claiming that EOS has an ability to conduct millions of transactions per second.
- It is claimed that DPOS system eliminates the possibility of attacks like the one which happened with Ethereum.
What are the disadvantages of EOS?
- It is not finished product. Developers keep giving promises.
- The EOS system has a lot of competitors which are finished and operating.
- Some people think that EOS is heavily centralized due to the implementation of the consensus mechanism.
How to buy EOS?
If you have decided to become a part of EOS world, you need to purchase EOS coins. To do that go to SimpleSwap home page and follow simple instructions:
- Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
- In the second drop-down list select EOS. You will be shown the estimated value that you receive after the exchange.
- Enter the Recipient's Address. EOS will be sent to this address. Be careful and make sure you use the correct EOS address.
- Check all the information you have entered. If everything is correct click the Exchange button.
- You will be shown Bitcoin deposit address. You need to transfer to this address the necessary amount of BTC to start the exchange.
Now enjoy using your EOS!