What is EOS? Full review

08 Dec, 2019 Endy Callahan

Bitcoin confidently occupies the first position in the capitalization of cryptocurrencies. Many people treat it more like a brand and prefer to use it only for investment. Since the advent of bitcoin, new cryptocurrencies have been developed. They have a more advanced algorithm and extensive capabilities. This coin is EOS. Let's get acquainted with it in more detail.

What is EOS

Plans to release the EOS cryptocurrency were announced in the spring of 2017. Its founder Dan Larimer had experience in the development of BitShares and crypto currency exchange social network Steemit (uses its own coins). These projects helped the Creator to gain valuable experience in blockchain and implementation of decentralized applications, trading platforms and social networks.

The EOS development team consists of fifty people. It is expected that a total of 1 billion coins will be issued, of which 100 million will remain in the company and will not be sold. By capitalization, the crypto-coin confidently keeps in the TOP 10. The reason for the success is described in detail in the article "Popularity of EOS".

Distinctive features of EOS

EOS is a platform for creating decentralized applications. Token holders can direct their tokens to develop applications on the internal network. The system does not charge users for taking action. Proof of quotes ensures that calculation, bandwidth, and storage size are distributed in proportion to the number of coins in the app.

The main advantages of the system are the following:

  • Flexibility. EOS allows you to implement generalized permissions based on roles, fix and freeze applications that have stopped working correctly, as well as the web-build platform.
  • Equality of opportunity. Cryptocurrency does not have a predetermined value, it is formed under the influence of supply and demand in the market. This approach allows you to simulate production without creating an unfair advantage to large holders.
  • Scalability. EOS functions is successfully used in thousands of decentralized applications. The platform provides asynchronous communication, parallel execution, and other scalability features. The system allows you to separate authentication from execution.
  • Suitability for use. EOS is equipped with web-based interface creation tools, self-writing database schemas and declarative resolution system.
  • Wide distribution. Tokens are distributed in 341 days. This gave the community the necessary time to become familiar with the project and participate in the distribution. The eos.io has implemented a countdown timer It displays each stage of the token sale.

As you can see, EOS is not just another coin. It is a functional platform for the development of blockchain projects, which has a number of advantages over Ethereum. That is why many see great prospects for EOS. If you are planning to create your cryptocurrency investment portfolio, it is good to include this coin in it. Perhaps it will continue to strengthen and will enter the TOP 5 or even TOP 3 coins by capitalization.