EOS: A Beginner's Introduction to the Crypto Coin

EOS is a blockchain platform designed for developing large-scale decentralized applications (dApps) with a strong underlying infrastructure. Launched in 2017, it quickly established itself among the top five cryptocurrencies and became a prominent competitor to both market leaders, like Ethereum, and new entrants like Tron and NEO.

Key Features of EOS

EOS aims to create a user-friendly and business-friendly platform for dApp development while addressing the limitations of other blockchain platforms, such as Ethereum's scalability issues.

Scalability

Scalability, or the number of transactions executed per second, is a significant concern for most blockchain platforms. EOS claims that its distributed proof of stake (DPOS) mechanism can support millions of transactions per second, surpassing Ethereum's 20 transactions per second and Bitcoin's 3-4 transactions per second.

Flexibility

EOS claims to provide security from vulnerabilities such as the ones that affected Ethereum in 2016. In case of a dApp fault or attack, the elected block producers can freeze the dApp until the system is restored.

Permission Schema

EOS features a comprehensive permission system, allowing developers to create custom permission schemes for various business situations. This feature enables developers to build robust dApps without reinventing the wheel.

Upgradability

All dApps deployed on the EOS blockchain platform are upgradeable, meaning users can authorize code fixes, add or change features, and modify application logic. It is also possible to deploy irreversible EOS smart contracts, but such decisions are based on the discretion of developers.

Governance

EOS maintains governance through the establishment of jurisdiction and choice of law, coupled with mutually accepted rules achieved via a legally binding constitution.

Decentralized Operating System

Unlike Ethereum, which functions as a decentralized supercomputer, EOS is a decentralized operating system that provides a wide range of business-friendly and user-friendly features.

EOS Token

The EOS token is the native utility token of the EOSIO network. To use the EOS blockchain and resources, developers must hold EOS tokens. By holding tokens, developers gain access to the network without having to pay to use EOS. This helps make the development of dApps simple and streamlined.

Team Background

EOS was created by the blockchain company Block.one, led by CEO Brendan Blumer and CTO Dan Larimer. Larimer is a prominent figure in the crypto industry with an extensive background in blockchain technology, having previously launched successful projects such as Bitshares and Steemit. Block.one was able to raise over $4 billion in its year-long ICO for EOS, reflecting a high level of trust and confidence in the team behind the project.

Current and Upcoming Project Development

EOS has been actively working on improving its platform to stay ahead in the highly competitive market of decentralized applications. Some major developments include the launch of their mainnet in June 2018 and EOSIO 2.7.0 announced in May 2021, which enhances scalability and performance. As EOS continues to grow and develop new features, it aims to cement its place as a top blockchain platform for enterprise-level dApps and secure a larger market share. Future plans include further optimization of the platform, utilization of innovative technologies like Inter-Blockchain Communication (IBC), and expansion of their developer support ecosystem.

Conclusion

EOS has emerged as a promising blockchain platform for building scalable enterprise-level dApps. It offers several significant advantages over traditional blockchain platforms, such as improved scalability, flexibility, upgradability, and a user-friendly interface. As EOS continues to evolve and gain adoption, it has the potential to provide immense benefits for a wide range of business needs in the future.

EOS Price Analysis

As of November 24 2024 EOS has a marketcap of $1.2B. This is {{percentagefromath}} from its all time high of $22.71. In terms of its tokenomics, there's a total supply of 2.1B with 72% currently outstanding. Keep in mind EOS has a fully diluted value of $1.6B which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.