EOS is another popular cryptocurrency from the list of ten biggest digital currencies out there – and a blockchain technology that is very similar to Ethereum Brought to life by Dan Larrimer in June 2017, the project started its ICO aiming to become a next-level decentralized operating system where developers can build applications.
Owning the EOS coins, on the other hand, would allow for easier transfer of money where developers will not spend the ocins to use the server resources – but only hold them. The EOS operating system is designed to be hosted on servers which act as data centers and ones that will ultimately become block producers. The block rewards in EOS are in fact the main incentive for these servers to host the EOS appications.
On June 1st, the news reported that the currency had completed its year-long token sale and raised a record-breaking $4 billion, becoming the largest Initial Coin Offering (ICO) in history. More importantly, the altcoin was ranked as the best blockchain, sitting at the top. The Chinese government claimed that this is the case because of the technology and innovation that are underlying in the asset’s nature.
Also, research papers show that only 3 out of the top 50 dApps are built on Ethereum but other 47 builds on EOS. The main reason why EOS is leading in usage is that of the scaling issues that other crypto projects have. The digital asset has a kind of a network that is able to process 2000-4000 transactions per second while Ethereum is only able to handle about 20 per second.
The altcoin was named as the multiple-time winner in terms of price gains while other cryptocurrencies were crashing. This comes because of the steady growth of the altcoin and the positive impact it has in the community.