EOS — special EOSIO blockchain cryptocurrency. The founders of the platform are Daniel Larimer and Brendan Blumer.
Interestingly, the EOS developers did not provide any formal definition of the currency abbreviation and left it open to interpretation by people. Therefore, there are various EOS decoding, for example, Ethereum on Steroids.
They position themselves as rivals of the Ethereum team. They are innovative in design.
When registering a personal account, users can choose their name and wallet address, instead of using long/complex codes provided by BTC or Ethereum.
EOS tokens are ERC-20 compatible coins distributed on the Ethereum platform by the relevant ERC-20 smart contract.
Mechanisms for restoring personal accounts are also present. It has high TPS, supports several programming languages and decentralized applications on Ethereum.
It supports pause and replacement of smart contracts. If there is something wrong with the application, delegated representatives can decide by voting to suspend the execution of the contract and replace it with a new one. This feature helps to avoid incidents like the DAO attack, contract discrepancies, and community secession.
EOS provides up to a million wire transfers per second, eliminating usage fees, and allowing you to load decentralized applications quickly. Currently, 500 ms (milliseconds) block spacing is supported.
The price of a coin is determined by market demand, which imitates mining, without giving potential unfair advantages to large investors/miners, which is also suitable for decentralizing coins.
It can be concluded that e-currency is not mined. In April 2018, the EOS price reached a record high of $22.89, and the total market capitalization was $15.53 billion.
EOS is one of the youngest and indeed the most controversial cryptocurrencies. It is criticized by many: from ordinary users of the blockchain to such authorities as Vitaly Buterin. But all the negativity does not stop the growth of the coin.
In 2018, the Bitcoin hype ended, but EOS, surprisingly for most of the crypto community, continues to grow steadily. Compared to other coins, the price increased slightly - from $3 to $7, but the stability of the asset attracted investors.
At the same time, EOS is a closed system; therefore, external factors cannot have a strong influence on it. Of course, the law of supply and demand works, but this is the only objective factor.
Otherwise, it all depends on the actions of the EOS users themselves. If the community tackles current issues together, the exchange rate grows, but any disputes and attempts to redistribute assets will lead to a flight of investors and a lightning-fast drop in prices.
For traders, this situation means that the coin is not a priority in the investment portfolio, but one should still include it. If developers reach at least a tenth of the planned and can support 100,000 transactions per second, EOS will indeed become one of the most profitable investments in history.
Developers do not name specific dates, fueling investor interest. This contributes to short-term fluctuations, which allows making a profit with scalping.
In general, EOS is a promising coin with great potential, and many people believe in it. But trading is based on facts, not speculation. Therefore, it is recommended to use the asset with caution. It can bring a very high margin as well as significant losses.