EOS is a decentralized platform that’s been created for industrial applications. At the moment EOS is based in the Cayman Islands, but it does not have a central office. The system has been designed to deal with the issues of high fees and scalability when setting up dApps. It is very identical to Ethereum being more a platform for applications than being one for currency. The system allows mainly for databases as well as ledger accounts to be hosted on its blockchain network. The operating system uses various levels of CPU power, to be able to process millions of transactions simultaneously at a zero fee rate. It runs on the Ethereum network, and like Ethereum allows for smart contracts. It uses the Delegated Proof of Stake Protocol (DPoW).
Average transaction speed of 1.5 seconds. (This is one of the fastest transaction speeds of any cryptocurrency. The network is also currently capable to handle up to 50 000 transactions per second. The other advantage is that the network is really scalable and secure.) The cost of the transaction is zero. That means that EOS is fast and free. Potentially one of the best cryptocurrencies to date.
EOS is supported by a variety of wallets from physical to virtual based. Some wallets that are popular are…
At the moment the Betbit Wallet only supports Bitcoin. The site, however, allows for both deposits and withdrawals in EOS. Please note however that it can take up to 10 minutes for your coins to be confirmed. You may also qualify for deposit and cash back bonuses by using cryptocurrency at Betbit.
It does nto cost anything to make an EOS transaction.
As it’s a very popular coin you are able to buy it on quite a few exchanges:
EOS is one of the most popular ERC20 Tokens. Others are TRON and Status. Tokens are used to perform specific actions in DAPPS Smart Contracts, thus making the process more seamless and simpler. Basically, the tokens are a technical specification, where if they implement the specification, they are classified to be ERC20 tokens. ERC20 tokens should be transferable, be able to check token balances and be able to check the total supply. Anyone, however, is able to build new ERC20 tokens as it’s an open-source platform, and as such anyone has access to the required resources and tools for its creation. However, you would need to understand the Solidity framework to do so, which not that many do. ERC20 tokens can be used as securities dividends, collateral deals as well as for voting systems. These are but a few of the many potential uses.
Unfortunately, you are not able to mine EOS coins. The developers have launched a fixed number of coins that can be purchased daily. However, you are able to mine Ethereum and then convert it to EOS easily enough. Please note though that EOS coins are in high demand.