Everything You Need to Know About EOS

EOS is a popular blockchain platform for the EOS cryptocurrency, and if you’re debating on how to get involved, this guide is for you. We have another guide on the basics of cryptocurrency to check out if you’re new to industry as a whole. This guide is specifically geared toward EOS.

What Is EOS?

EOS was created by Bitshares and Steem founder Dan Larimer through Cayman Island-based company Block.one. Like ethereum, it is more focused on the blockchain technology than the actual cryptocurrency powering it. However, it makes several improvements upon the ethereum network.

EOS can handle up to 50,000 transactions per second, compared to 7 bitcoin transactions per second and 13 ethereum transactions per second. Visa has capacity to process up to 24,000 transactions per second. In addition, EOS (like ethereum) has no block size limit.

EOS also removes ethereum’s gas transaction fees. This provides a lower barrier to entry for dApp developers, and (when combined with investments from its strategic partners) encourages usage of the EOS blockchain.

How Much Is EOS Worth?

EOS has a market cap of $5,222,072,429, as of March 23, 2018. This is based on a circulating supply of 746,611,090 EOS, with each EOS token being worth $6.90. Over $836 million in EOS is traded each day.

The peak price of EOS so far occurred on January 12, 2018, at a price of $18.16.

EOS can not be mined, and the maximum supply is 1,000,000,000 EOS.

Who Supports EOS?

While EOS’s technology is certainly impressive, it’s yet to pick up widespread enterprise adoption. Block.one has partnered with several investment firms to help jump start development, though. FinLab signed a letter of intent on March 21, 2018 to manage a $100 million fund to make strategic investments in European companies utilizing EOS.IO’s blockchain.

In addition, Galaxy Digital created a $325 million EOS.IO Ecosystem Fund to stimulate further development and investments in the blockchain. The third fund is a $50 million fund seeded by Block.one and managed by TomorrowBC.

Investors in the United States will find they can’t invest in EOS. The company blocked U.S. investors due to gray-area regulations on both state and federal levels. John Oliver singled out EOS in a March 2018 cryptocurrency segment on Last Week Tonight.

The CEO responded with a slew of lame dad jokes on Medium. Cringy puns aside, EOS is a blockchain to watch. There’s not much use, but there’s a lot of money behind it. It’ll either be a long-standing blockchain or a poster child for the inevitable crypto bubble burst.

Where Can I Buy/Sell EOS?

If you want to buy EOS coins, it can be done on most popular crypto exchanges, including Binance and CoinBase. A full list of exchanges supporting EOS can be found at Eos.io. Remember you can’t invest if you live in the U.S.

If you have any other questions about EOS’s cryptocurrency, standards, or blockchain not covered above, please feel free to leave a comment below.

Versability

Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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