EOS (EOS) Price and Analysis

EOS Overview

The EOS.IO platform was published in 2017 after being developed by the private company block.one. The open source software was released the following year in June 2018.

EOS is a community-driven blockchain that allows the development and implementation of large scale decentralized apps (dApps). EOS is essentially a development platform for dApps which in terms of functionality is close to an operating system. EOS is also a blockchain protocol, which just means that it built its blockchain from the ground up and doesn’t rely on any other blockchain or its technology for their survival. Protocol blockchains are considerably rarer than app blockchains which account for 90% of the market.

The goal of EOS is to be fast, cheap, and highly scalable – allowing for thousands of transactions per second and upwards. Scalability has become extremely important for newer cryptocurrencies, since some of the older ones, like Bitcoin, can’t support high volumes of transactions. If cryptocurrency is ever to become the norm, then high volumes of transactions is a must since no one will see crypto as an improvement to traditional currencies if they have to wait days and days to transfer money.

The EOS platform and its infrastructure also support smart contracts for dApps, and if you’ve been following crypto news for a while, you’ll know that smart contracts are the current buzz word in the industry. This makes EOS a major competitor to Ethereum; however, EOS is more scalable and flexible than Ethereum, although it is less popular so Ethereum doesn’t have much to worry about for the time being.

So what about the cryptocurrency part? The EOS ecosystem is made up of two parts, the EOS.IO platform we have just been discussing, and EOS tokens, the cryptocurrency. The EOS token is the cryptocurrency on the EOS network, the same way Ether is the cryptocurrency of the Ethereum network. Where it tends to get a little confusing in the crypto space is that the platforms and the cryptocurrencies are often used interchangeably.

In order to build and run decentralized apps on the EOS network, a developer needs to hold EOS tokens. Another interesting feature is that a token holder who chooses not to run any apps on the network can rent their bandwidth out to others who may need it to build their apps. This is one of the reasons EOS is considered a community-driven platform.

Latest EOS News

Survey: More Crypto Owners Voted for Hillary Clinton than for Donald Trump

In a recent survey conducted by Clovr, more digital currency owners state that they voted for Hillary Clinton in the ...
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Block.one Rolls Out an Improved Version of EOSIO for Developers

Popularly known for its industry-leading transaction speed and flexible utility with its EOS (EOS) cryptocurrency, Block.one has again broken its ...
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Block.one, EOS Creator, Slapped with $24 Million Fine for Unlicensed ICO

Wrapping off the month of September, the United States Securities and Exchange Commission (SEC) revealed to the general public that ...
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Block.one, EOS Parent, to Open New Headquarters in Washington D.C.

Block.one, a software engineering company and the creator of the cryptocurrency EOS (EOS), announced that it will be opening its ...
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EOS Technical Analysis (August 27): A Bullish Momentum

EOS (EOS) is currently trading at $0.28194. Although the cryptocurrency's price is in a uptrend, when considering the past price's ...
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Wallet and Custody Services Provider BitGo Adds Support for EOS

The popular cryptocurrency service firm and wallet provider, BitGo, has announced the launch of its multi-signature wallet and custody services ...
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EOS Price Technical Analysis (June 4): Uptrend but Indecisive

EOS (EOS) is currently trading at $6.84. The price was in an uptrend but there was a formation of a ...
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Block.one Launches Crypto Social Network ‘Voice’ Built on the EOS Blockchain

Block.one, a multibillion-dollar crypto startup and EOS developer, announced their new social media platform called ‘Voice’, this Saturday. Block.one is ...
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Crypto Exchange Bithumb Hacked for Third Time in Two Years; Says Assets Are Safe

Hacks and thefts have long been one of the biggest concerns for cryptocurrency investors and stakeholders. Many well-known cryptocurrencies and ...
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Ethereum Keeps Losing Market Share to its Crypto Rivals EOS and Stellar

Once considered as Bitcoin successor (and by some, still does), Ethereum brought the new concepts of smart contracts and dApps ...
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