Know Your Crypto: EOS.IO (EOS)

• EOS is designed to support large-scale applications
• It aims to solve problems developers face, particularly related to speed, scalability, and flexibility.

EOS is a cryptocurrency that was designed to support large-scale decentralized applications (DApps). The EOS blockchain is designed to be highly scalable and efficient, making it ideal for running DApps that require a lot of computing power or data storage.

EOS was founded by Daniel Larimer in 2017. Larimer is also the founder of BitShares and Steem, two other blockchain platforms. EOS was launched in 2018 and raised over $4 billion in its initial coin offering (ICO).

EOS is a delegated proof-of-stake (DPoS) blockchain. This means that instead of miners, EOS uses 21 block producers (BPs) to validate transactions and produce blocks. BPs are elected by EOS token holders and are rewarded with EOS tokens for their services.

EOS has a number of features that make it well-suited for DApps. These features include:

• Scalability: EOS is designed to be highly scalable, capable of handling millions of transactions per second.
• Speed: EOS transactions are processed quickly, with an average block time of just 0.5 seconds.
• Interoperability: EOS is interoperable with other blockchains, making it easy to transfer data and assets between different platforms.
• Security: EOS is a secure blockchain, protected by a number of security features, including 256-bit encryption and a distributed consensus mechanism.

EOS is a promising cryptocurrency with the potential to revolutionize the way DApps are built and used. The platform’s scalability, speed, and interoperability make it a good choice for a wide range of applications, from gaming to finance to social media.

How to buy EOS

To buy EOS, you will need a wallet and an account on a cryptocurrency exchange. Some of the most popular EOS wallets are:

• Lumi Wallet: A lightweight mobile wallet that is easy to use.
• Exodus Wallet: A multi-currency wallet that supports EOS and other cryptocurrencies.
• Freewallet: A free and easy-to-use mobile wallet.
• SimplEOS: A web-based wallet that is easy to use and secure.

Popular cryptocurrency exchanges that list EOS include:

• Coinbase: A popular exchange with a user-friendly interface.
• Kraken: A popular exchange with a wide range of features.
• Binance: A popular exchange with low fees.

To buy EOS on an exchange, you will need to create an account and deposit funds. Once you have deposited funds, you can buy EOS by placing a buy order.

How to store EOS

Once you have bought EOS, you will need to store it in a wallet. A wallet is a secure place to store your cryptocurrency. There are a number of different EOS wallets available, so you can choose the one that best suits your needs.

The two keys in EOS wallets

EOS wallets use two keys: the owner key and the active key. The owner key is the most important key, as it allows you to access your EOS tokens and make changes to your wallet settings. The active key is used to authorize transactions.

It is important to keep your EOS keys safe and secure. You should never share your keys with anyone, as this could give them access to your EOS tokens.