How to Buy EOSIO (EOS)

EOSIO (EOS) is one of the most popular cryptocurrencies in the world. With many of the same features as Ethereum, the EOSIO blockchain platform is scalable, public, and a flexible application ready for development.Enter your text here.

How to Buy EOS Coins

  1. Create a Coinbase account - We recommend using Coinbase as it offers $5 in free Bitcoin when you sign-up.
  2. Add a payment method - Add your payment method and fund your account.
  3. Research the coin - Search for the coin by name or ticker symbol - EOS.
  4. Decide the amount of coins - Now it is time to decide how many coins you want to buy of EOSIO.
  5. Purchase coins of EOS - Buy the amount of coins you want with at the current price on Coinbase.

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Should I invest in EOS? or "Is EOS a Good Investment" can be questions you've been asking yourself if you're new to EOS investing.

This article will answer that question and explain all the important aspects.

What is EOSIO?

EOSIO is a blockchain software platform that was developed by Block.one. The platform aims to help developers build decentralized applications (dApps) and provide services that are scalable and fast. 

The platform's goal is to provide a blockchain that can support thousands of transactions per second, much higher than the capabilities of Ethereum (ETH) capabilities.

The EOSIO protocol can also be used by businesses and organizations looking to transform their operations through blockchain technology.

How does it work?

To process transactions rapidly, scalable, and securely, EOS leverages its proof of stake EOSIO blockchain. EOSIO has three new features; 2.2.0-rc1: Read-only Queries, Private Chain Access, and Resource Payer.

To participate in various processes, EOS holders can stake their tokens. Users with EOS stakes have the power to vote, make decisions about changing the program's laws, or participate in the blockchain verification process.

On the EOS platform, you can also utilize these tokens for transactions. Luckily, the network can support up to 1 million transactions per second.

Who Are The Founders of EOSIO?

EOSIO was founded by Dan Larimer, the founder of Steemit and Bitshares. He's also the creator of Graphene, a toolkit for building blockchain technology.

The other founder is Brendan Blumer, who has worked with Block. one since 2017. Blumer was previously an entrepreneur and investor in real estate and financial markets.

How Did EOSIO Come to Be?

In 2017, Larimer and Blumer began working on EOSIO to solve the scalability issues that had plagued other blockchains before them. 

The creators launched the first EOS initial coin offering (ICO) in June of the same year after the creators made their whitepaper available to the public.

It raised an astounding $4.1 billion in a year, breaking all previous ICO records.

EOSIO (EOS) Price Today

How Many EOSIO (EOS) Coins Are in Circulation?

One question that people often ask about EOS is how many EOS coins are in circulation. Currently, there are 1.02 billion EOS tokens in circulation with 936 million EOS coins in circulation.

EOS is now rated number 23 and is one of the top cryptocurrencies with the most promising long-term prospects and predicted growth.

It's important to note that these numbers aren't set in stone. The number of coins available for circulation will always change as new coins are mined, and others are taken out of circulation.

How Are EOSIO (EOS) Coins Mined?

The Delegated Proof of Stake (DPoS) consensus method is the foundation of the EOS blockchain and does not require miners. DPoS-based platforms, on the other hand, have a team of validators who sign the blocks and keep the blockchain overall up to date.

Concerning EOS, 21 block producers act as miners by validating blocks. Each is selected by the EOS community. However, it is possible to "mine" EOS using ETH if you already have a mining set up for, for instance, Ethereum.

There are three steps in "mining" EOS:

  • Make ETH and EOS wallets   
  • Join a mining pool, set up your hardware, and begin mining ETH on your own.
  • Use the trading platform to convert the Ether you've generated into EOS.

How is EOSIO Secured?

EOSIO is secured through Delegated Proof of Stake (DPoS) and has a system called the EOSIO Core Arbitration Forum (ECAF).

The EOSIO network runs on the blockchain, which is a distributed ledger that is decentralized. It means that no one entity has control over the blockchain.

Instead, there are several different nodes that each have a copy of the ledger and add transactions to it in real-time. The EOSIO network is secured by 21 block producers who oversee the network and make sure everything runs smoothly.

These block producers are chosen by token holders who vote for them using their tokens. The more tokens you have, the more votes your token counts for when choosing block producers.

If any of these 21 block producers behave maliciously or do not act according to protocol, users can file complaints through ECAF (EOSIO Core Arbitration Forum). 

Suppose ECAF finds wrongdoing on behalf of a block producer. In that case, they will remove them from their position as a block producer until they can resolve any issues arising during their tenure as an elected official within this system.

What Makes EOSIO Unique?

The Eos blockchain uses Delegated Proof of Stake (DPoS) as its consensus algorithm instead of PoW or PoS. The token holders vote for a small number of delegates responsible for validating transactions on the network.

The Eos blockchain uses one type of token: EOS tokens, to buy RAM and stake votes for block producers (delegates). You cannot create new tokens on the chain, so all activity takes place in this one type of digital asset.

EOS Features Include:

  • Scalability: Scalable distributed ledger technology (DLT) architecture allows millions of transactions per second.
  • Governance: A delegated proof-of-stake consensus mechanism ensures high performance and scalability;
  • Usability: Interoperability between other public blockchains through interchain communications.
  • Ownership: Users own their data and can control how it is accessed.
  • Flexibility: EOS.IO software is flexible and upgradeable.

EOSIO Alternatives

Should I Invest in EOSIO?

According to predictions made by experts and analysts, EOS may be a wise investment, and putting money into it could yield excellent profits that would enliven your portfolio.

It's also one of the most versatile cryptocurrencies on the market today, making it usable for various everyday purposes.  EOSIO (EOS) is much faster and cheaper than Ethereum, making it an appealing choice for businesses looking to incorporate a cryptocurrency into their existing business model. 

EOSIO (EOS) also has flexibility improvements over Ethereum; we wouldn't be surprised if the currency's ecosystem continues to develop rapidly and numerous businesses adopt it.

We think EOSIO (EOS) has a bright future ahead.  I would encourage anyone who believes in the potential of blockchain technology to watch for future developments surrounding the EOSIO project, as it presents one of the more promising opportunities.

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