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EOS (cryptocurrency)

EOS (cryptocurrency)

EOS is a smart contract blockchain for building decentralized applications. The EOS blockchain is currently still in development led by Dan Larimer.

EOS is a blockchain-based public infrastructure ecosystem offering a platform for the creation of decentralized applications (dApps). It is designed to be scalable and flexible, as well being highly usable through web tool kits, self describing interfaces, and database schemes.

Dan Larimer, Brendan Bloomer, and the development team at block.one are the creators of EOS. The first version of EOS, EOS Dawn 1.0, was launched on September 14, 2017. The second version of EOS, EOS Dawn 2.0, was launched on December 4, 2017 and added resource tracking and inter-blockchain communication to the EOS platform. In April 2018, EOS launched EOS Dawn 3.0, which marked the official launch of the EOS platform.

What Is EOS?

EOS is a platform that’s designed to allow developers to build decentralized apps (otherwise known as DApps for short.)

The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology — and ensure that the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly.

Other priorities include delivering greater levels of scalability than other blockchains, some of which can only handle less than a dozen transactions per second.

EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

The blockchain launched back in June 2018.

Who Are the Founders of EOS?

The EOS platform was developed by the company Block.one, and its white paper was authored by Daniel Larimer and Brendan Blumer.

Both men continue to be members of Block.one’s executive team, with Blumer serving as CEO and Daniel Larimer as CTO.

Blumer is a serial entrepreneur, and one of his earliest ventures involved selling virtual assets for video games. He went on to co-found Okay.com, a digitally focused real estate agency in Hong Kong.

Larimer is a software programmer who has also started a series of crypto ventures. They include the crypto trading platform BitShares and the Steem blockchain.

The pair met in 2016 and formed Block.one the following year.

What Makes EOS Unique?

To an extent, you could argue that EOS aims to create familiarity for its users. Whereas EOS.IO is probably best compared to an operating system like Windows or iOS, EOS is the cryptocurrency that drives the network.

According to the company, it has the capacity to accommodate the demands of hundreds, if not thousands, of DApps — even if they were being used by substantial numbers of people. Parallel execution, as well as a modular approach, are said to drive this efficiency.

In a unique twist, token holders have the ability to vote for block producers — as well as other matters such as protocol upgrades.

Unfortunately, some of the most distinguishing features of EOS are those that certain critics dislike the least. There are those that argue that extensive Block.one’s involvement with this project means it’s rather centralized — and some argue this is the opposite of what blockchains and cryptocurrencies were meant to achieve.

How Is the EOS Network Secured?

EOS uses a delegated proof-of-stake consensus mechanism. This concept was conceived by Larimer, and aims to solve some of the flaws that are seen in PoW and PoS systems.

As we briefly explained earlier, those who own EOS tokens are able to vote for representatives who will be responsible for validating transactions. One of the advantages is that this helps eliminate consolidation, where smaller miners are pushed out by those who have greater levels of computing power and resources.

Where Can You Buy EOS?

It is possible to buy EOS through Binance, Coinbase, Kraken and countless other exchanges. Given how widely used it is in the crypto industry, you’ll probably be hard pressed to find a trading platform that doesn’t support it. Some services will allow you to use fiat currencies to make a purchase, either through a bank transfer or a credit card. Find out more about fiat on-ramps here.

Funding
Initial coin offering (ICO)

EOS held their initial coin offering (ICO) from June 2017 to June 2018 selling approximately $4.19 billion worth of EOS cryptocurrency tokens; making it the largest ICO in history.

Timeline

June 2018
EOS was founded by Brendan Blumer and Daniel Larimer.

Products

Patents

Further Resources

Title
Author
Link
Type
Date

EOS About to Secure a Record $4 Bln in Year-Long ICO

William Suberg

Web

EOS.IO DAWN 2.0 Released & Development Update

Eosio

Web

EOS.IO: The Beginning

November 24, 2017

Is Block.one Launching the EOSIO Blockchain?

Web

May 15, 2018

News

Title
Author
Date
Publisher
Description
EOS
May 10, 2021
www.prnewswire.com:443
/PRNewswire/ -- EOS, a leading supplier for responsible manufacturing solutions based on industrial 3D printing technology, is reporting strong market demand...
iTrustCapital
April 21, 2021
www.prnewswire.com:443
/PRNewswire/ -- iTrustCapital, the world's largest crypto IRA retirement account platform, released its 1Q2021 report providing a comprehensive snapshot of...
Tanya Dua
April 19, 2021
Business Insider
Marketers see an opportunity to get in front of TikTok's fast-growing and young audience.
Wolfie Zhao
April 15, 2021
The Block
The same Chinese police division that busted the PlusToken Ponzi scheme have arrested 15 people behind an EOS gambling dApp
James Giggacher
April 12, 2021
phys.org
Researchers at the Australian National University (ANU) have harnessed a technique that helps telescopes see objects in the night sky more clearly to fight against dangerous and costly space debris.
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References

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