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EOS in 6 questions

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EOS in 6 questions

Uipblog | Different Approach, Different Sharing
Published in > Crypto Money · 1 January 2022
EOS is a network that allows vertical and horizontal scaling of decentralized applications, account management, data base creation and application programming. The cryptocurrency of this network is called EOS.

  1. Who established it and when?
  • EOS was established by block.one in 2017.
  • Its founder Danierl Larimer is also the creator of BitShares, Blockchain Steem and Delegated Proof of Stake’in (DPoS). Larimer is still the CTO of block.one.
  • EOS was released into the market in June 2017 with the initial coin offering (ICO) method. ICO collected 2.5 billion dollars in a year, which has proven to be one of the biggest ICO initiatives.

  1. The infrastructure of EOS
  • Targeting to become a decentralized network, EOS operates according to the DPoS consensus mechanism.
  • EOS was first created on Etherum and switched to its own block network in 2018.
  • DpOS is a voting-based system that helps to create new cryptocurrencies through the cryptocurrency amount owned by the selected stakeholders.

  1. What does it promise to its users?
  • EOS offers a  blockchain architecture that ensures the vertical and horizontal scaling of decentralized applications.
  • EOS guarantees that every single transaction and practice is transparent. Thus, any one on the network can view the erroneous transaction and the mistake can be corrected.
  • Also, EOS promises its users high-speed transactions.

  1. Is there any EOS mining?
  • Since DPoS consensus algorithm is in use, there is no EOS mining.

  1. Trading volume and total offering
  • The total EOS offering is 1,018,118.014 while the EOS offering in circulation is 921,418.002.
  • The lowest EOS cryptocurrency price ever is 0,480196 dollars whereas the highest price is 22.89.

  1. How to perform EOS transactions on Coinpayments?
You can click the link coinpayments.net and perform your EOS transactions easily.




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