What Is EOS do you really know?

What Is EOS?

EOS crypto, created by Dan Larimer(co-founders of Bitshares and Stepit), is a third-generation cryptocurrency that entered the cryptocurrency asset market in 2017. EOS was launched via an Initial Coin Offering (ICO) on June 26, 2016. On July 1, 2017, 200 million (20%) of its tokens were initially distributed in 5 days since its launch. The ICO ran until 1st June 2018, while it shook the crypto market by raising record levels of funding ($4 billion) at the end.

EOS is a universal programmable blockchain-based platform owing to the expansion of the decentralized applications(Dapps) ecosystem. Compared to numerous blockchain-based networks at present, it is considered as one of the several potential Ethereum alternatives by providing more scalability, flexibility, and usability through its unique mechanism it.IO blockchain to the bottlenecks that many blockchain-based platforms are struggling with.

How Does EOS Work?

EOS addresses itself as the most powerful infrastructure for decentralized applications and claims that it processes 100,000 transactions per second. Unlike Ethereum, its network has no transaction fees requirements. 

The network takes Delegated Proof of Stake (DPOS) as its consensus algorithm to maintain the blockchain. Blocks are built and operated by block producers, which are rewarded with tokens instead of transaction fees for every block produced. It uses election for block producers to stimulate the formation of an active decentralized network, which is highly compatible with DPOS algorithms. The active producers and alternate producers who have received votes are working together to produce the blocks, or to run the blockchain network. The producers of these blocks are dynamic, constantly adjusting to the voting dynamics.

Usually, if a producer misses a block and has not produced any blocks in the past 24h, it will be removed from the producers’ list until it notifies the blockchain that it intends to start producing blocks again. This approach can eliminate unreliable producers to minimize the missed blocks, thus ensuring smooth operation of the network.

How To Buy EOS Crypto?

To buy EOS tokens,  you need a wallet and an account on a cryptocurrency trading exchange firstly.

One can keep his/her tokens in various wallets such as Lumi Wallet, Freewallet, and Exodus. Or he/she can trade them on exchanges including Coinbase, Binance, and Kraken. 

At present, people have no means to buy EOS directly using Fiat currencies. But they can buy BTC or ETH on cryptocurrency exchanges like Coinbase, then use them to buy EOS. Also, you can buy tokens on Coinbase and CEX.IO with credit or debit cards.

Is EOS A Good Investment? 

Since its birth, people have witnessed frequent short-lived price changes in its cryptocurrency. Over the past years, the price of  EOS tokens has fluctuated in a large range of $2-$4, while most of the raising was retraced. Its performance failed to meet people’s satisfaction many times, thus more and more people remained skeptical of it.

However, with the development and overall popularity of Smart Contracts and Decentralized Applications, many investors are still optimistic about it for the long term, especially after the partnership of EOS with Google Cloud. In addition, the consolidating moving in EOS price action indicates a pretty good potential investment decision to people.

Since the cryptocurrency market is unpredictable and highly volatile, people should do their own research before making an investment.

EOS

Will EOS Reach $23 In 2021?

Since the all-time high of $22 completely retraced in 2008, EOS has struggled above $2 most of the time. Afterward, it has attempted to look for recovery and achieved by reaching around $5. 

In the first month of 2021, the overall bullish momentum has indicated a positive trend in the upcoming months. In mid-February, a speedy movement of it had been witnessed from $2.4 to $5.6, totally over 100 percent. Since then, it has fluctuated due to the short-term retracement. With the support at the low mark, EOS had consolidated for several weeks and started to scale again. 

After that, the price of it has grown sustainably and has risen to $5 once again. At the time of writing, it is trading around $9. 

The frequent fluctuation of its price has undermined people’s expectations for it. Yet, as one of the best-delegated proof of stake blockchains, we still believe that it will have an upward growth by the end of this year, especially with the news that Google Cloud services are to build up a partnership with EOS and help the EOS network with block production.

According to Bexplus analysts,  based on the previous all-time high of $22, the price of the EOS crypto could climb to $23 by the end of 2021.

How To Trade On Bexplus

Trading crypto futures on Bexplus is easy. Once registered, you will have a 10 BTC demo account to get familiar with the platform, a trading account to earn your real profit, and a wallet account to get up to 21% annual interest.

No KYC. Just simply click sign up to enter an email address, the verification code you received, and set up a password. Then you can start your journey on Bexplus. After making a deposit, you can apply for a 100% deposit bonus

After becoming a Bexplus user, you can trade BTC/USDT, EHT/USDT, LTC/USDT, DOGE/USDT, and XRP/USDT with 100x leverage.  Bexplus also offers market analysis, notification of the market changes to keep you updated.

Conclusion 

Though the price of EOS did not show a good performance in the past years, its current bullish movement still indicates an appreciable potential. In addition, with the popularity of Smart Contracts and Decentralized Applications on its platform, as well as the partnership with competent enterprises, some believe that EOS crypto will soon regain trust from people.

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