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EOS (Ethernet Over SONET) is a multifunctional platform which is known as the potential competitor of Ethereum. Just like Ethereum, it supports decentralized applications, which don’t work on any specific server but allow decentralized user-to-user networking. These applications connect individuals, buyers and sellers, customers and service providers directly, without any third parties.
EOS owners claim that they hope to make their platform more flexible and functional than Ethereum. They also claim that EOS network will work without transactions charges and will be able to process a great volume of transactions fast – several millions per second. Nevertheless, this project is still under development.
EOS’s blockchain is based on proof-of-stake consensus, which proves to be more effective than proof-of-work (used by Bitcoin). EOS token owners can vote for the block processes, which create blocks and decide the most important events in the network. EOS has a technology of horizontal and vertical scaling, which allows millions of transactions per second.
Though EOS is based on the same principle as Ethereum, it has its own blockchain with better functionality and more possibilities. As owners state in their whitepaper, EOS’s main aim is massive adoption of its technology by large corporations.
As for the EOS crypto, it doesn’t have any official wallet at the moment. However, theoretically it can be stored in any wallet that uses ERC-20 standard.
Bitfinex is one of the few exchanges that swap EOS to USD, which attracts a lot of users. However, the complex interface makes it too confusing for beginners.
Launched in 2017, Binance platform quickly became one of the most popular crypto exchanges. It hosts dozens of coins, including EOS tokens. Unfortunately, you can refill your account only with cryptocurrency, which may not very convenient. However, the platform makes it easy to exchange EOS for BTC and ETH.
HitBTC is a European currency exchange that offers a variety of crypto-currencies, including EOS. Users can replenish their accounts with dollars or euros. Although the exchange is easy to use, its reputation is far from flawless: many users argue that HitBTC lacks transparency. As in the case of any unregulated market, the investors should be reasonable and attentive.
Yobit is a platform that provides a lot of cryptos for trading. There you will find all types of popular coins as well as the ones that nobody really knows. However, be careful with Yobit since some users grumble at negative experience with this platform.
EOS is an ambitious company with great plans for the future. So far it is still under development but we are sure that the creators will offer many interesting chips and ideas in a very short time. Continue to keep tabs on EOS crypto, since this might be a really beneficial investment.