What Is EOS Cryptocurrency: All You Need to Know

What Is EOS Cryptocurrency: All You Need to Know

EOS is not ready to hold back!! With commendable performance in the past weeks, EOS ousted Litecoin from the top five lists of the trending cryptocurrencies. Some are crediting this development to the forthcoming EOSDAC airdrop, but deep investigation discloses the fact that EOS’s growth is more attached to its rudiments rather than some temporary profit motive. To comprehend this, just analyze EOS cryptocurrency dawn 3.0 that was issued about a week ago. But first, we must understand what is EOS cryptocurrency?

eos blokchcain
Source: CoinSwitch

What is EOS Cryptocurrency Software?

EOS Blockchain software empowers developers to generate and deploy high-performance, horizontally accessible Blockchain platform upon which decentralized applications can be constructed.

  • Accessible: Supports thousands of commercial scale DApps, allows inter-chain Blockchain communication and divides substantiation from implementation.
  • Adaptable: Freeze and fix applications that are broken and simplify permissions that are role-based.
  • Usable: For interface development it offers web toolkit, construct interfaces that are self-describing and provide declarative permission scheme.

What are EOS Tokens?

EOS tokens are ERC-20 compatible tokens circulated on the Ethereum Blockchain in conformity with an associated ERC-20 smart contract.

what are EOS tokens

EOS Token Distribution Key Points

Unbiased Opportunity: To certify inclusivity, EOS tokens doesn’t have prices that are fixed and in fact, the price is determined based on the market demand. This allows mining to be done efficiently without giving unfair advantages to large buyers.

Broad Distribution: The EOS distribution generally takes place in 341 days that provides sufficient time to the people to acquaint themselves with the available plan as well as contribute in the distribution process.

Unambiguousness: An Ethereum smart contract provides receipt of incoming funds for EOS tokens.

Block.one

It is a company based in Cayman Island that is constructing the EOS.IO software and meanwhile investing in several Blockchain projects. With the aim of bridging the gap between actual execution and theory of Blockchain technology, the company is developing tools and platforms to develop a free, secure and connected world.

block one

Furthermore, the company is planning to invest more than one billion dollars for the development of EOS Blockchain ecosystem. They are investing in products and services that can transform the world of technology. Therefore, Block.one has entered into strategic ventures with leaders around the world in all market to work directly with local investors.

See Also5 Simple Ways To Block Cryptocurrency Mining In Web Browsers

EOS cryptocurrency Dawn 3.0

Dawn 3.0 offers a platform that is streamlined for smart contracts development. This means that anyone with limited acquaintance to programming can create a smart contract on the EOS Blockchain platform. Further, this platform offers simplified inter-Blockchain communication, the objective of every smart contract platform out there.

EOS cryptocurrency Dawn 3.0 also uses a security delayed transaction system, where each transaction will be broadcasted for various days before its application. In the time-period, users can effortlessly rearrange their account to withdraw the transaction. For the first time in Blockchain, the platform is available that eradicates any chance of making a mistaken and irrevocable transaction.

Which ETH Wallets Are Compatible?

MetaMask and MyEtherWallet are largely compatible with ETH wallets. Meanwhile, any Bitcoin exchange, any Jaxx, Ethereum exchange, Coinbase, Exodus, Kraken, Poloniex, Bitstamp, Bittrex, Bitfinex and Cex.io are not compatible and is not recommended. Furthermore, the minimum amount to be accepted in the EOS Token distribution is 0.01 ETH.

EOS CRYPTOCURRENCY Dawn 4.0

Block.one CTO Daniel Larimer has officially announced the launch of EOS cryptocurrency Dawn 4.0 in June, the up-to-date version of EOS cryptocurrency for decentralized applications (DApps).

EOS Global Hackathon

eos global hackkathon

For the first time in the history of Blockchain, a Global hackathon event is being organized to fulfill the aim of Block.one i.e. developing decentralized global community. The event will include developers, hackers, business leaders and marketers from around the world to generate a novel trend of blockchain dApps for securing life, liberty, and property.

  • HONG KONG: June 9-10
  • SYDNEY : August 4-5
  • LONDON: September 22-23
  • TBA: November 10-11
  • Grand Finale: December 8

EOS is the next platform to be explored for Blockchain enthusiasts, so hold your seat tight and participate in the world’s biggest hackathon. You can get all the updates about the event from their official website.

Shalini is a technical blogger at Systweak. She likes most things in general and likes to cover trending topics in a different light. She has a special affinity for chocolate cupcakes and shopping excursions.

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