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Author: Admin | 2025-04-28
What is EOS Crypto?EOS.IO enables the use and development of the technology of decentralized applications (Dapps) via it’s blockchain-based platform. Launched by block one, the company funded the EOS ecosystem with one of the longest initial coin offerings (ICOs) to date. The ICO lasted a year which spanned from June 2017 to the following June 2018. Block one earned over $4 billion USD through this ICO and with it, introduced the EOS cryptocurrency.Also Read:• EOS Price Prediction: Is EOS A Good Investment?The EOS coin cryptocurrency was first created to rectify Ethereum network flaws such as slow transaction speed, high transaction costs, and scalability issues. With the main focus shifted onto transaction improvement over the Ethereum network, EOS aims to process millions of transactions a second. It also ensures that it has a privacy policy in place for extra protection.Distribution of EOS coins are based on stake in coin ownership. This means that, within the EOS community, the higher the stake owned, the more of the network an individual “owns”. The coins do not need transactional expenditure because proof of their ownership alone is considered sufficient.EOS avoids inflation effectively by ensuring that caps remain in place to prevent supply increasing beyond five percent annually. At this time of writing,EOS market cap sits at $2,460,025,487 USD (equivalent to 226,252 Bitcoin/BTC), has a circulating supply of 936, 720, 430 EOS of a total supply of 1,023,420,441 EOS according to CoinMarketCap (CMC).Can EOS be mined?Unlike some crypto mining cryptos, EOS coins use the delegated proof-of-stake (PoS) consensus which means that the mining of EOS coins is not possible. EOS block producers receive EOS coins as a reward for each block they create. This reward is best calculated based upon the average payment value expected for the work of block producers. To get a stake in EOS, EOS tokens are used as currency to do so – particularly when used to fund Dapps on the EOS blockchain platform.EOS tokens function in the same manner as other cryptocurrencies tokens in that they are attributed a certain value to buy and carry out transactions with. The best difference found with EOS tokens is that no transaction fees are incurred by end-users. By staking EOS tokens, Dapp developer can reserve resources such as CPU and RAM to reserve bandwidth for Dapp transactions.In the same fashion as Ethereum, the EOS platform is smart contract enabled and purposed for open-source projects and Dapps. Meant for businesses, the EOS blockchain platform entices interested parties with the EOS token to stake funding for their business.How to mine EOSBlock one’s EOS coins work like other cryptocurrency, being able to be used for payment and/or traded via crypto exchanges such as the well-known Binance.
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