Bitcoin - Wikipedia

Detailed write up about EOS. Comments are appreciated.

#1 - What is EOS?

EOS has attained celebrity-like status in the cryptocurrency market - on the back of a very successful ICO, and because it’s seen a healthy rise in its price ever since news of its mainnet hit the markets.

EOS: The Basics

EOS is a decentralised operating system based on blockchain technology. It is designed to support of decentralised applications on a commercial-scale by giving all the required core functionalities. These enable businesses to build the blockchain applications in a manner that stays similar to that of web-based applications.
This blockchain network has also claimed to remove transaction fees and conduct millions of transactions within a second.

EOS Development

10% of these tokens are reserved for Block.one. Total of 20% EOS tokens was sold on Ethereum in the first 5 days of the entire 341 days long token sale. The remaining 70% tokens, that stand under the majority, are to be sold and produced at market value.
The startup, EOS ICO, managed to get $170 million in the first step, regardless of critics from numerous representatives on the blockchain community.
EOS is presently the fifth leading cryptocurrency of the world by market capitalization.

#2 - What are the benefits of EOS?

Technology

  1. The objective of EOS is to provide a decentralized platform to host applications, implement smart contracts and use blockchain for businesses while hoping to solve the scalability issues faced by pioneering cryptocurrencies such as Bitcoin and Ethereum.
  2. It will also eliminate the fees charged for transactions. It will accomplish this by using delegated proof-of-stake of the consensus protocol as well as by being multi-threaded (being able to run on various computer cores).
  3. The target of EOS is to be the very first operating system that will be decentralized. EOSIO provides a better developmental environment for decentralized applications, such as, BitShares, a platform for the decentralized exchange of cryptocurrency and Steemit, a social networking platform with monetary incentives.
  4. The native token, EOS, is a utility token that gives both storage and the bandwidth on the blockchain. It is proportionate to the entire stake (owning only 1% of EOS tokens permits the usage of up to 1% of the total bandwidth).
  5. These tokens also permit the owner to participate in the on-chain governance of the blockchain and to cast votes, in proportion to the stake of the owner.
The EOSIO platform will drop its vote for 21 block producers at the time of its launch that will further validate and generate blocks within the block time of 500 ms.
The smart contract and general language for building the entire platform is WebAssembly (C, C++, Rust) and a portable machine build at World Wide Web Consortium (W3C).

#3 - How to buy and store EOS

How to buy EOS

The EOS coin is listed for trading on various trading exchanges all around the world, and is paired with a few major cryptocurrencies like BTC, ETH, BNB, KRW, and USDT, which is a pro for the user of EOS as this allows the users to access or obtain the EOS token by using their present ETH, BNB, BTC, USDT, or KRW.
The entire list of trading exchanges for EOS token includes major global exchanges such as Binance, KuCoin, Bitfinex, Huobi, and more. It has over 120 pairings available across nearly as many exchanges - allowing users to purchase EOS using BTC, ETH, USDT and other major cryptocurrencies.
  1. While cryptocurrency exchanges provide you a platform to buy or sell the EOS cryptocurrency, CoinSwitch, cryptocurrency exchange aggregator comes in to help you make the right decision by providing the prices for EOS on multiple crypto exchanges. It supports more than 140 coins and 45,000 pairs of cryptocurrencies.You can choose whichever pair you want with your token and compare the prices at exchanges. This way you can choose the best deal for you!
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your EOS cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

EOS Storage

EOS is an ERC20 token - which means it can be stored on any wallet that supports Ethereum. While this will change once EOS releases its own mainnet, currently a EOS wallet that you can use can be one of the following:

#4 - What is the future of EOS token?

Trends so far

  1. EOS’s company, Block.one, is registered in Cayman Islands. It began offering EOS tokens to the public in June 2017. It raised $700 million during its ICO - a fairly large amount and a testament to the support it has received from the masses.
  2. An online, wiki-based encyclopedia, Everipedia, has announced its plans for using EOS blockchain technology on 6th December 2017. As soon as the Everipedia is decentralized and hosted on EOSIO platform, few countries such as Iran and Turkey that have blocked Wikipedia, will not be able to block it any further via Everipedia’s fork.

EOS Global Acceptance

The Market Cap ranking of the EOS cryptocurrency is 5th, and it holds a market capitalisation of $10.9 billion USD as of June 2018. A total number of 900 million EOS coins are in circulation.

Future Prospects

#5 - How is EOS different from other cryptocurrencies?

  1. One aspect that makes EOS entirely different and better than all the other cryptocurrencies is that it does not charge any transaction fees.
  2. EOS is a decentralized platform that has room for far higher scalability. While both Ethereum and EOS are platforms that can run smart contracts, EOS claims to offer faster transaction times, and quicker execution. It can further support industrial-scale decentralized applications.
  3. While Ethereum uses a Proof-of-Work (PoW) model for its mining operations, EOS will use a Delegated Proof-Of-Stake (PoS) model for EOS mining - which is far faster, and will not be as energy intensive as mining generally is.
  4. While developers on blockchains typically have to use a specific language to build their applications, EOS allows developers to compile in Web Assembly, which means developers can use C++ to build their applications!

#6 - Should you invest in EOS?

The Good:

  1. It is likely to be the first third-generation blockchain to reach out to the market.
  2. Unique features: - It has parallel processing that is good for scalability. - It has no transaction fees, block producers paid out by inflation.
  3. There is an inflation build in the token model, which will help the block producers earn incentives when performing their work.
  4. It will also have a process for the recovery of an account if you tend to lose your private keys. It will make human readable account names.
  5. EOS has a massive reserve so far. Due to its initial coin offerings, it has earned billions of dollars. The platform has created a large ecosystem fund with this reserve.
  6. Companies and organizations can easily make decentralized applications with the help of this platform.

The Bad:

EOS has a lot going for it. This is why it raised over $700 million in its ICO in the first place. You already know how to buy eos coin by now. Whether you should buy and hold, is a decision that will require more deliberation, as with any other cryptocurrency.
submitted by perky_coder to eos [link] [comments]

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