EOS is a decentralized operating system based on blockchain technology. This smart contract hosting platform is designed for open source projects and consumer-centric decentralized applications (DApps).
In May 2017, Block.one blockchain start-up and former BitShares developer Daniel Larimer decided to create a unique and flexible high-bandwidth blockchain platform that would enable fast transactions with zero commission, write transparent smart contracts and create scalable decentralized applications.
To conduct an ICO, the EOS project issued ERC-20 standard tokens of the same name on the Ethereum blockchain (they are blockchain assets that can have value, and can also be sent and received like any other cryptocurrency). Token sale started on June 26, 2017. The EOS blockchain appeared in June 2018. Until 2018, investors participated in the purchase of EOS tokens through a smart contract on the Ethereum blockchain. Some exchanges, such as Bitfinex, Kraken, Shape Shift, and Yunbi, have listed these tokens for direct trading.
Investors had 2 acquisition options:
-Buy EOS ERC-20 tokens on exchanges
-Acquire EOS ERC-20 tokens through smart contracts
To achieve these goals, the company launched an annual ICO, which was held from June 26, 2017 to June 1, 2018. 900 million EOS tokens were sold in 341 days and a record $ 4 billion investment was raised! This event became a landmark for the entire crypto industry, as EOS was the only ICO project that could attract such a huge amount.
During ICOs, these digital coins were distributed within the Ethereum network. The main process for obtaining EOS is as follows - you need to send a certain number of Ethereum coins to a special address. Then, at the end of all trading, the corresponding amount of tokens will be distributed among all participants who made the purchase, in proportion to the shares of these people acquired. Now EOS tokens have already been transferred to their own blockchain.
Many exchangers, mining pools and cryptocurrency exchanges, stopped trading and other EOS cryptocurrency transactions and made Snapshot - a snapshot of the network. This is done in order to seamlessly migrate balances from old ERC-20 wallets to new EOS wallets. A full launch of the network took place in mid-June 2018. Then, EOS moved from the Ether blockchain to a platform of its own design.
Today, EOS is one of the most successful cryptocurrency projects, and the price of their coins is growing exponentially.
How to purchase EOS?
In terms of market capitalization, the EOS cryptocurrency is uniquely top-notch. Problems with her purchase will never arise. The following trading platforms support EOS: Binance, OKEx, Exmo, Huobi, Bitfinex, Upbit, Bithumb, ZB.com, HitBTC, Kraken, CoinTiger and many others.
Unlike Bitcoin and Ether networks, where transactions can be sent using the public key, EOS has a system of accounts that must be created separately. Everything is like in web applications. The account name is 12 characters long. To identify customers, services and trading platforms use MEMO, as the address for all users is provided a single one. MEMO to transfer is mandatory for crediting funds.
What is required to create an account? A small number of EOS tokens for buying RAM, a few coins to reserve for your CPU needs and bandwidth, the so-called bandwidth.
Creation of an EOS wallet due to the specifics of the network is paid. When creating a wallet, you automatically buy a certain amount of RAM - memory. Payment can be made by one of the cryptocurrencies - Effirium, Bitcoin, or the EOS coin itself, if the address is created in the wallet shell. In this case, EOS to activate the transfer can be purchased in exchange services, or crypto-exchanges.
EOS can be stored on:
- Exodus - a multi-currency wallet on a PC. Very simple and convenient wallet. Exodus wallet is integrated into ShapeShift cryptocurrency exchange. The wallet works on 3 OS: Windows, Linux, Mac. Exodus wallet is currently not translated into Russian, but the convenient interface allows you to learn all the necessary functions in a few minutes.
- SimplEOS Wallet is a modern desktop wallet designed specifically for the EOS ecosystem. It allows you to store and manage EOS tokens, as well as interact with the EOS network directly from a Windows, Linux, Mac computer.
- EOS Lynx - allows you to keep all tokens in one store - on the platform itself and send them to explore balances of games, exchangers and other devices on EOS. EOS Lynx is designed for everyday use and is available for installation on iOS and Android.
- Infinito is a universal mobile wallet that allows you to store and manage a wide range of cryptocurrencies.
- Binance - exchange with the ability to store. Huge liquidity, minimal fees, optional verification procedures, stable operation of the trading platform.
EOS is a very popular project, there are many wallet options and trading platforms to consider. There are only a few on our list, but you can find alternatives that work best for you.
EOS is one of the few cryptocurrencies that can not be obtained through mining.