Overview of EOS IO

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30.11.2021 09:40
Overview of EOS IO: opportunities and prospects of the token

    The project was created in 2017, and the main network was launched a year later. The project raised funds through an ICO (initial offering of coins, similar to an IPO on the stock market, when investors buy digital assets of the project, not available to the public). The longest initial offering, which lasted about a year, raised more than $4 billion.

    Before the launch of the network, several bugs were identified, due to which this event had to be postponed several times as a result  Mainnet (the main blockchain network) went live on June 2, 2018.

     

    General information about EOS, distinguishing features

    EOS io is a blockchain network created to develop decentralized applications (dApps) on it. The internal EOS token is designed to keep the project running, as well as to pay for nodes (nodes in the blockchain that are responsible for creating new blocks and validating transactions).

    The distinctive features of the project are:

    1. DPoS consensus. EOS io token holders can choose who will vote on their behalf, create blocks and add transactions to them. 
    2. Scalability. Due to the fact that the EOS io project uses the consensus mechanism of delegated stacking, transaction speeds on the network can reach millions of operations per second. DPoS is much faster than Proof-of-Work (Bitcoin, Ethereum) and Proof-of-Stake (Ethereum plans to switch to this consensus mechanism soon).
    3. More flexible smart contracts. Unlike the already classic ‘smart contracts’ on the Ethereum blockchain, the EOS io smart contracts even allow you to determine weighting coefficients for different participants. In addition, it is possible to set bans on changing certain clauses in this digital contract.
    4. Digital operating system. Unlike Ethereum, which is a decentralized supercomputer, EOS io acts as a digital platform.
    5. Less energy consumption. DPoS contributes to lower energy consumption in contrast to bitcoin, which in terms of energy consumption can already be compared to states such as the Netherlands, the UAE or Kazakhstan.
    6. Free transactions. There are no transaction fees on the EOS blockchain.

     

    Token use, perspectives

    There are several ways to use cryptocurrency:

    1. Buy EOS io for subsequent resale at a more attractive price. This is a classic speculative scheme, which is often used by owners of other cryptocurrencies. The idea is to buy the token cheaper and then sell it at a higher price.
    2. Long-term investments. Here it is supposed to buy EOS io in order to get profit in the future, in a year or several years. 

    Unlike bitcoin or ether, the EOS token is not offered as a payment method in online stores. Although from time to time, it can be found, for example, in online casinos or at some Forex brokers as a means of payment. This is due to the fact that the project is still less popular than BTC or ETH.

    The cryptocurrency reached its peak values (just over $20 per token) in 2017, even before the release of the main network. Since then, the price has only once come close enough to historical highs.

    What factors influence quotes

    These include the following:

    • news of the project and the blockchain industry as a whole;
    • the current situation with the bitcoin exchange rate;
    • the emergence of new products in the EOS ecosystem;
    • the situation with the regulation of the crypto industry.

    If a user is planning to buy, exchange or sell EOS io, it is necessary to pay attention to how much the team is ready to continue developing the project. EOS has both advantages and a number of disadvantages criticized in the community. Nevertheless, the project's founder, D. Larimer, has the respect of the community. He is called the second Bill Gates.

    EOS is considered to be the ‘killer’ of Ethereum. Unlike the latter, the EOS network is all about voting. It is a more flexible model that takes into account the interests of the entire community, not just parts of it.

    More flexible smart contracts are another plus for EOS compared to Ethereum. Developers are still cautious about the project, though. Most decentralized applications are still developed on the Ethereum blockchain.

    Moreover, the process of creating smart contracts on EOS itself is simpler than on Ethereum. This is another plus in relation to the well-known blockchain developed by Vitalik Buterin.

     

    Summary

    EOS is a project with potential. Taking into account small price fluctuations, it is suitable for long-term investments with the aim of reaching and exceeding historical highs in price.

    Where to buy, exchange, sell and withdraw EOS io

    In order to buy any token, it is sufficient to use the services of specialized trading platforms or exchangers. However, here users may face low quality services or even fraud by the administration of such platforms. Therefore, it is recommended to be careful in choosing such websites.

    Broex.io is a reliable service for buying and selling tokens

    Broex is an EU-registered platform where you can buy, sell or exchange EOI io at favorable prices with minimal commissions. The advantages of cooperation with Broex.io include:

    1. A large selection of trading assets. More than 600 instruments are available right now. Thanks to the strategic cooperation with Binance, users can apply to add new tokens.
    2. Advantageous commissions for transactions. Trading on Broex is more profitable than on most platforms.
    3. Simple interface. The deal is opened in a few actions. You need to select an asset and specify the necessary volume.
    4. Fast transactions. This allows you to buy EOS io at the bid price.
    5. There are a lot of ways to deposit and withdraw. Broex works with credit and debit cards of all issuers and accepts most popular electronic payment systems.
    6. Automated strategies. There are 5 ready-to-use portfolios, in which you can invest your funds without analyzing the market.
    7. Secure storage of tokens and money. Cryptocurrency is located on servers disconnected from the Internet. As for fiat currencies, they are on a special circuit, which is not available to the administration of the website.

    Conclusions

    EOS is a blockchain project offering simple and flexible smart contracts. The project continues to evolve since its launch. The team includes developers with experience in companies like Google.

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