EOS

#5
Price: $12.0923
Change(24h):
-3.15%
Volume(24h): $1,393,370,000
Market Cap: $10,707,764,097
Built on an Ethereum smart contract by crypto veteran Dan Larimer in early 2017, EOS is a decentralized, open source blockchain system, allowing developers to build their own decentralized applications that can communicate with each other and interact with end-users. Written in C++, the EOS blockchain can also host ICOs. EOS is a non-minable coin, using the energy-saving delegated Proof-of-Stake (DPoS) protocol, where token owners vote to choose block producers. The total EOS supply is one billion tokens.

Minable: No

Coin Prefix: EOS

Type: Token

Websites:

Latest Hight: $22.89

EOS Markets

# Source: Pair: Price:
1
Bithumb
EOS/KRW
$20.4980515935104
2
Huobi
EOS/USDT
$13.8424912
3
Binance
EOS/BTC
$13.923122448
4
Binance
EOS/ETH
$13.912048812
5
Huobi
EOS/BTC
$13.9431658368
6
OKEx
EOS/BTC
$14.0464596168
7
Bitfinex
EOS/BTC
$13.906419624
8
Huobi
EOS/ETH
$13.9290721182
9
OKEx
EOS/USDT
$13.901801874
10
Gate.io
EOS/USDT
$13.9425092

 

EOS - THE TOKEN SALE INNOVATOR, AIMING TO MAKE SMART CONTRACTS MAINSTREAM

 

• Area to disrupt: Fast and cheap transactions, Smart Contracts, building Dapps

• Competition: Ethereum, NEO, Cardano

• Founded by: private company Block.one

• Based in: EOSIO is built by Block.one – a Cayman organization with offices in Hong Kong, California and Virginia. The company is employing over 200 people around the world.

• Max supply: 1 000 000 000

EOS logo

 

EOS Price Development

EOS tokens started trading on exchanges on July 1, 2017 and in just three days the price for one token raised from USD 1 to above USD 5.30 mainly because of the hype generated around the coin during that time.

 

 

After reaching that USD 5 peak, the price lost steam and by the beginning of September EOS was changing hands for less than a dollar. Most of the time during September and October, the coin was trading between USD 0.48 and USD 0.70.

In November, EOS price began to increase exponentially, following the Bitcoin craze and the overall market growth during that period and on January 18, 2018 one EOS token was traded for more than USD 18.

After that, the whole crypto market crashed and EOS made no exception. Its price dropped to USD 3.96 in mid-March, which is the lowest price point till mid-May 2018.

EOS price chart

 

In April, EOS made an impressive run from USD 6 to its all-time high of USD 23, which was reached on April 29. There are two key reasons for this surge –  the eosDAC airdrop, which every EOS holder received on April 15 and the increasing hype around the launch of the EOS mainnet, which is scheduled for June 2, 2018.

 

 

EOS’ Delegated Proof-of-Stake Mechanism Promises High Network Security

EOSIO is a cryptocurrency token and a blockchain protocol, designed to handle millions of transactions per second, eliminate user fees and provide quick and easy deployment of decentralized applications (DApps).

The EOS project is led by well-known figures in the crypto space. The head of the engineering team is Dan Larimer, who is the inventor of the revolutionary Delegated Proof-of-Stake (DPOS) consensus mechanism, creator of decentralized asset exchange BitShares and co-founder of blockchain social media platform Steemit.

 

EOS token digital graphic

As with the other new smart contract platforms that generate a lot of buzz, the comparison with Ethereum is inevitable. The biggest difference between the two projects is in the technology behind the consensus mechanism. Ethereum uses the more widespread, but high energy consuming Proof-of-Work (PoW), and is supposed to switch to PoS later in 2018.

On the other hand, EOSIO will use delegated PoS. What does that mean?

Basically, on Ethereum anyone can decide to participate in the consensus process, but on the EOS blockchain this can happen only if you are elected.

All the people who have EOS tokens are stakeholders and they can elect witnesses. And only witnesses will produce blocks and validate transactions. These elections are ongoing all the time, so stakeholders are constantly voting.

 

If a witness misbehaves, produces bad blocks or tries to cheat the network, stakeholders will replace them with someone else. This is supposed to be a well working model, because there will be a lot of competition to be a witness. And being a witness means that you get rewards for your work. In addition, only the top 20 witnesses will receive regular payments.

So, if you win the privilege to be a witness, you will have no incentive to misbehave because you will lose your position, which is equal to losing your golden hen. The more the network grows, the more people will want to become witnesses, which will lead to higher competition and better witnesses.

This consensus network is not completely new, as Steem and BitShares already use the same delegated PoS consensus mechanism.

 

EOS’ Innovative Way of Distribution

One of the interesting things behind the EOS project was how the team distributed the EOS tokens. The EOS token sale is the first of its kind. In fact, it is still running, having started at the end of June 2017.

 

The sale was divided into two phases. The first one involved just a five-day period beginning on June 26, 2017. During that time 20% of the total amount of EOS tokens (200 million units) were distributed.

The second phase started on July 1, 2017 and it is split evenly into 350 consecutive periods of distribution, each of them 23 hours long. Two million tokens are projected to be distributed at the end of each period.

However, already after the end of phase one, EOS tokens are freely traded on most of the major exchanges, therefore their price is determined mostly by the market. This innovative way of running the token sale gave investors the opportunity to watch closely the progress of the EOS team and project before they decide to contribute.

EOS symbol on a smartphone screen

 

EOS tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain. Right now, the token itself does not perform any function. It will be useful for the developers once the platform is launched, because developers will need it to generate new tokens for the application they are building. In addition, in order a new application to be accepted on the EOS platform, first, stakeholders will have to approve it through voting. And as we already learnt, EOS tokens are required for voting on the network.

 

Wrapping It Up - EOS’ Potential

EOS is probably one of the most promising projects of 2018, aiming to make smart contracts mainstream. On the upside, we can say that the project has some of the most knowledgeable people in the space as leaders. The team has a proven track record and it seems they have what it takes to deliver their promises.

On the downside, EOSIO hasn’t launched their mainnet yet, so anything could go wrong. Especially with such innovative technologies like the blockchain infrastructure platforms.

Nevertheless, we believe there will be more than one or two crypto projects that will succeed in the future. So, a project that is on the edge of releasing their mainnet and becoming one of the few working smart contract platforms, backed by thousands of investors and a team of well-known blockchain developers could be a very good investment opportunity in the long-term.

 

Description text: Lyubo Zhechev
(The views and opinions expressed by the contributor in this text should not be considered financial advice, neither treated as expression of Coins.Online’s view.
Cryptocurrency trading and investing is risky and market participants are advised to always conduct a thorough research.)

 

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