Whether you are seasoned or new to cryptocurrency, EOS is a coin that should be in your portfolio. I’m going to lay out some compelling reasons why. Bear in mind that I am not a professional trader, nor do I intend for this article to be investment advice, but I’ve been actively involved in and around some crypto and blockchain projects for three years and the steady development of DApps for the EOS blockchain is a clear indication that the developers and investors are excited about EOS.
Let’s start with what EOS is.
What is EOS?
EOS is a cryptocurrency that is used to power the EOS.IO blockchain protocol. It uses a Delegated Proof-of-Stake (DPoS) consensus model on a decentralized network, which allows for the development and deployment of commercial and enterprise level DApps using smart contracts in a scalable digital environment. Notably, EOS does not impose transaction fees, which has developers clamoring to launch new applications. The foundation of EOS is that it is purposefully built to process thousands, if not millions of transactions per second.
It’s been dubbed The Ethereum Killer by many because the ideas are quite similar, however, the deployment, scalability, and time to approve transactions is significantly different. Another exciting development is that EOS developers are working diligently to offer cross-chain transactions for all graphene blockchains from a unified cross-chain interface.
sourced from bitgenste.in/eos
Developers
Brendan Blumer is the CEO of Block.One, the tech company which produces the distributed ledger software. Dan Larimer, co-founder of BitShares and blockchain-based content platform, Steemit, leads the EOS development team as CTO. Their combined history in technology, innovation, and business savvy has inspired and motivated countless content creators, developers and investors.
Follow the Money
If I told you that EOS raised four billion dollars, yes, $4 BILLION, without even having a product to show, you might think I was lying through my teeth. The truth is, they did in fact break records in their crowdfund campaign, and I directly attribute that to the developers and visionaries on the team.
Stake
As I mentioned earlier, the EOS platform is free for developers to use. The prerequisite is that they must buy and hold enough EOS to be eligible to use network resources to build and operate their DApps. EOS token holders do not have to be developers to get in on the action because they can rent out their bandwidth to other network participants. It’s a win-win for everyone.
Scalability
A huge part of scalability is probably the biggest hurdle for mainstreaming cryptocurrency. EOS has come up with parallel processing technology which enables transactions and DApps operations to work with vertical and horizontal scaling. If your eyes glazed over then the quick explanation is vertical adds processing power and horizontal adds to the resource pool, ie. more machines. In the technical white paper, parallel and sequential performance is described, along with transaction confirmations and how they are implementing Transactions as Proof of Stake (TaPoS) to lessen the load on nodes.
Cool DApps
From Drakos Keep to fantasy sports, gaming and a multitude of exchanges, looking for cancer markers through BOID, and creative endeavors like PixEOS, there is a little something for everyone on EOS.
Airdrops and Faucets
If you sign up for an EOS wallet, like Scatter or EOS Lynx, you will gain access to many DApps that offer airdrops or faucets. Some require staking, others require simple captchas; there are team efforts for distributed token, and there are also fun games. It would probably take all day to list some of the really cool things that I’ve explored, but we can save that for another article. Needless to say, there are opportunities to get free crypto.
Easy Adoption
If you’re familiar with impossibly long wallet addresses that look like 3pDxTcY6Z5MSuCp26Tts775NhH3QuxXEpRA, then EOS wallets are much easier to send and receive from because they have more human-centric names like – ahem – @merejlough31 – you know, just as an example.
BREAKING NEWS
As of May 30, 2019, EOS is now available for purchase on Coinbase! At this time it is not available for Coinbase users who reside in the United Kingdom and New York, US.
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