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Eos is both a cryptocurrency token and a blockchain enabled smart contract platform for the development and deployment of decentralized applications (DAPPS). It claims to be the most powerful infrastructure for decentralized applications and it very well might be, but only time will tell as the technology and ideology behind it is still very new. The Eos blockchain is meant to be scalable, flexible, and usable, allowing developers to easily build quality decentralized applications that are capable of doing never before seen things. The Eos cryptocurrency is most comparable to the ever popular Ethereum cryptocurrency and is even a competitor in the space as they are both smart contract platforms for decentralized applications. While Ethereum and Eos are very similar, their governance model and blockchain technology vary greatly. Perhaps the way they are most similar, is for the simple fact they both have a type of currency or cryptocurrency used by their platform and speculators using it to invest in their projects.
show moreCryptocurrencies like Eos do not have a symbol to represent them, but rather a code or ticker symbol, much like USD, EUR, GBP, etc. The code Eos uses to represent itself is very simple and self explanatory as the code is EOS. Another thing different about cryptocurrencies from other types of currencies is that each one has a logo unique to their own, rather than a standard symbol that represents the unit of account.Some facts worth noting about the Eos tokens is that the max supply is 1 billion, there is a total supply of 900 million, there is currently a circulating supply of 896,149,492 EOS and Eos ranks number 5 in terms of market capitalization.
The Eos cryptocurrency is very new and not widely accepted among traditional online trading brokerages. However, it is widely available among many of the top cryptocurrency exchanges. When a user exchanges Eos, they send it to a cryptocurrency exchange and can then exchange it for another cryptocurrency such as Ethereum (ETH) or Bitcoin (BTC). Alternatively, some exchanges offer fiat currency pairings for EOS in which the user can sell their EOS directly for fiat currency such as USD or EUR. Users can acquire EOS tokens the same way, ether with fiat currency where supported or by exchanging with other cryptocurrencies.
People who hold the EOS cryptocurrency can hold their tokens in their very own cryptocurrency wallet, rather than in a traditional bank account. Therefore, the EOS tokens being held are entirely controlled by the person who holds them. There are no third party fees and they are not being controlled by a centralized organization.However, people who store their EOS tokens on a cryptocurrency exchange or traditional online trading brokerage, do not have full control over their tokens as they are being held by a centralized third party. Therefore, it is strongly advised that traders store their EOS tokens in their personal crypto wallet.
Users of EOS can send their tokens across the world in seconds for a minuscule fee.
