Cryptofacts #4 - What is EOS?

in #cryptocurrency • 6 years ago

GOBABA-EOS-COIN-NEDIR-ENG.png

Dear Gobaba community,
We continue introducing you the altcoins listed on Gobaba. In this post of our series, we will be sharing the basics and unknown facts of EOS, which is one of the most popular altcoins and currently holding the 5th place in terms of market capitalization.

Previous Cryptofacts posts:

You can see the up-to-date list of available altcoins listed on Gobaba here-> https://steemit.com/cryptocurrency/@gobaba/announcing-new-altcoin-listings-and-the-gobaba-trading-module

EOS MARKET DATA (as of writing this post)

(https://coinmarketcap.com/currencies/eos/)

  • Current Price: €7.68 EUR (~ ₺41.25 TRY )
  • Global Market Cap: €6,884,240,537 EUR (~ ₺36,963,463,359 TRY)
  • Global Trading Volume (past 24 hrs): €454,120,701 EUR (~ ₺2,438,304,388 TRY)
  • All time high: €19.47 (~ ₺104,62 TRY)
  • Circulating Supply: 896,149,492 EOS
  • Max Supply: 1,000,000,000 EOS

What is Eos (EOS)?

EOS is a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform. This has huge potential in the future as it will enable new use cases and applications in the crypto space. EOS advertises itself as the most powerful infrastructure in the blockchain space.

EOS.IO and EOS Tokens


The EOS ecosystem comprises two key elements: the EOS.IO and the EOS tokens.

  • EOS.IO is akin to the operating system of a computer – it manages and controls the EOS blockchain network. EOS.IO uses blockchain architecture that is built to enable vertical and horizontal scaling of decentralized applications. The EOS token is the cryptocurrency of the EOS network.
  • A developer simply needs to hold EOS coins, instead of spending them, to be eligible to use network resources and to build and run dApps. A token holder who is not running any apps can also allocate or rent his bandwidth to other participants who may need it. Currently owned by the block.one organization, EOS was launched by Dan Larimer, who is also the founder and creator of established platforms like Bitshares and STEEM.

Interesting facts of EOS

  • No formal definition exists for the abbreviation EOS

EOS creators did not provide any formal definition for the abbreviation EOS and left it open to people interpretations. Therefore, different people have suggested different meanings of EOS like Ethereum Operating System, Ethereum On Steroids, EOS Operating System etc.

  • EOS is built by Cayman Islands exempted company called Block.one

EOS software is build by a Cayman Islands exempted company called Block.one which has committed to invest over $1B for the growth of the EOS ecosystem. EOS project was initially launched by Dan Larimer, who is also the founder and creator of Bitshares and Steem.

  • Inter-blockchain communication support

EOS supports inter-blockchain communication and separates authentication from execution. EOS tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract.

  • Longest and biggest ICO Campaign in history belongs to EOS with 4.1 billion$ collected

EOS had a pretty long 341 days ICO campaign which started in June 26, 2017 and ended in June 1, 2018. According to EOS team, its done to provide ample time for the crypto community to familiarize with the project and participate in the token distribution. EOS token distribution was carried out as follows with an aim to spread tokens far and wide throughout the whole ecosystem at realistic market prices without giving undue advantage to a select few during a short ICO period:

  • 200 million (20%) of tokens were initially distributed during a five day period from June 26, 2017 to July 1, 2017.
  • 700 million (70%) of tokens were distributed on an ongoing basis of 2 million per day for 335 days.
  • 100 million (10%) are being held in escrow for block.one to keep their incentives in line with that of the EOS community. Block.one's tokens will vest over a 10-year period at 10 million tokens a year.
  • Security Vulnerabilities and Mainnet Launch Delays

Even though, In April, Block.one announced the first feature complete pre-release of EOSIO, Dawn 3.0. was targeted for release in June 2018. EOS’s mainnet launch was slated to happen on June 2, 2018. But almost a week later the blockchain was not yet live. The EOS cryptocurrency was built on top of the Ethereum’s blockchain (a platform it aims to best), and the currency was to move on to its own blockchain with the mainnet launch.

EOS has received widespread criticism during this time pretty much since its inception for loopholes in its vision and, worse, in its execution — but the mainnet launch has been finally completed by June 10, 2018.

  • EOS is not mineable
    EOS price is set by market demand which mimics mining without giving potential unfair advantages to large investors/miners, again good for coin decentralization. EOS is not mineable. On April 29th, 2018 EOS price hit an all-time high of $22.89, with a total market cap of $15.53 billion.

How to buy EOS on Gobaba?

  • You can buy EOS within minutes using Gobaba. While buying EOS, you have 2 options. You can buy DASH from direct "Buy/Sell" section of Gobaba using your Fiat currency wallets. Find below the guide on how to buy DASH using your Euro wallet:

  • As a second option, you can give orders on the Gobaba trading module for the price that you wish to buy EOS for and once your buy order corresponds to any sell order, your order will be completed and you will receive your EOS coins in your Gobaba EOS wallet.

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We're always listening to you. For your feedbacks feel free to let us know on Gobaba Community. See you in the next cryptofacts post. Stay tuned for news & updates and join us to start trading safely and securely!

#eos #crypto #altcoin #steemit
6 years ago in #cryptocurrency by
$0.08
  • Past Payouts $0.08, 0.00 TRX
  • - Author $0.07, 0.00 TRX
  • - Curators $0.01, 0.00 TRX
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