What is EOS (EOS)? - Kakiforex | Forex markets for the smart money. What is EOS (EOS)? What is EOS (EOS)?

April 27, 2021

What is EOS (EOS)?

 In CoinMarketCap, EOS is ranked 27th before PancakeSwap (CAKE) and after IOTA (MIOTA).

EOS is a blockchain -based decentralization system that allows the development of hosting and implementation of commercial -scale decentralized applications (dApps) on its platform.

Launched in 2018, EOS managed to record the highest initial coin offering (ICO) in history at over $ 4.1 billion.

Its establishment focuses on development flexibility and network scalability. Not only that, EOS is also user -friendly and business -friendly for those interested in building dApps, thus appearing as a competitor to a conventional blockchain like Ethereum.

Some of the key features of interest include:

Delegated Proof-of-Stake (dPoS): EOS is one of the earliest blockchains to use a delegated Proof-of-Stake (dPoS) mechanism

Resource allocation: Users are given three types of resources namely CPU, .NET and RAM. Through CPU and .NET, users can staking their EOS and get rewarded. While RAM can be obtained from the EOS smart contract absorbed by Bancor and appears as a market making/pricing contract.

Supervision: a selective consensus mechanism reinforces the need for supervision. At EOS, token holders, proxies, dApp developers, Block.one and block producers participate in overseeing the network.

The total supply limit of EOS tokens is not specified. Instead an annual inflation rate of 1% is used as a reward to block producers. This change is effective in February 2020. Previously the EOS inflation rate was 5%.

If you are interested in EOS, you are encouraged to further diversify your reading and study of this ecosystem. EOS can be considered one of the projects other than NEO that failed to achieve the target despite the response of the crypto sector in 2020 and 2021 was very encouraging.

In fact EOS recorded a decline of up to 7.5% on 1 December 2020, inviting the question of whether this ecosystem market is still relevant or otherwise. Most recently, Polkadot’s canary network, Kusama has overtaken the position of old projects such as TRON and EOS.

While the EOS is a bit sunk, there’s also good news. In early April, Australian -based crypto exchange platform CoinJar had listed EOS for trading including several other coins such as Aave, Algorand, Bancor Network Token and many more.

At the time of writing, the total number of EOS at the time of writing reached over 1 billion with trading volume in 24 hours recording a record over $ 6 billion.