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EOS is a new cryptocurrency on the modern international crypto market

The most popular cryptocurrency is bitcoin. It is also the progenitor of blockchain technology, based on which a huge number of alternative cryptocurrencies have already been launched. The top ten most capitalized cryptocurrencies include EOS. This project intends to change the technology of transactions in the cryptocurrency system permanently.

Can we mine EOS?

Currently, EOS cryptocurrency is not traded by the company and is not mined. The final distribution of EOS tokens ended on June 1, 2018. Until this day, it was impossible to get tokens traditionally through mining. But miners had the opportunity to exchange the mined Ethereum for EOS crypto tokens, becoming a participant of the ICO. To do this, Ethereum mined with the help of standard mining should be sent to the auction, at the end of which each participant was credited with EOS tokens. The address of the exchange was represented by the official website of the EOS project.

How to get EOS

The answer is simple; just buy tokens on the exchange. 

Before purchasing, you should prepare a place to store the cryptocurrency and its further use, if you do not want the tokens to be stored on the exchange wallet. There is no official wallet for EOS cryptocurrency. The company has developed only a command-line wallet.

It can be obtained together with the EOS software, but there is no graphical interface to it, but there are third-party resources that have developed it. 

However, Block.one did not support any of the projects and offered users to explore the market and choose an individually suitable way. The company also does not plan to release a hardware wallet. The EOS system uses the ERC-20 Protocol. This makes it possible to store this cryptocurrency on universal wallets that support this standard, for example:

  • MyEtherWallet;
  • Exodus;
  • Ledger Nano S.

The developers planned to add EOS to trading on cryptocurrency exchanges after the ICO ends. But the plans changed, and two months after the launch, this token was freely sold on cryptocurrency exchanges. After the end of trading on the ICO, you can buy project tokens only on exchanges in which there are trading pairs with EOS. The most popular ones are the following:

  •  Kraken;
  • Bittrex;
  • Bithumb;
  • Exrates.

Bitfinex and Bittrex are the first cryptocurrency exchanges that supported the project and added EOS to their system. They account for about 60% of the total turnover of this cryptocurrency. Bitfinex is also notable for adding the EOS-USD trading pair.

Reasons for the popularity of EOS

EOS is attractive to investors. It has developed an innovative system for attracting third-party capital.

The potential capabilities of the system are distributed among all users of the network in accordance with the number of EOS tokens available. So if the user has n% of tokens, he automatically has the right to dispose of the corresponding n-th percentage of the resource, thereby opening up a huge number of opportunities for earning.

A critical review of EOS

In addition to all the advantages, EOS has received the title of one of the most controversial cryptocurrency. On the one hand, the project aims to make positive changes in the development of blockchain technology and bring them to a new level. On the other hand, many experts and critics urge not to buy tokens of the project, which is at the stage of formation. Many consider the project a hype and also accused of fraud. 

The investment Fund Multicoin Capital calculated that during the year of selling tokens in small batches, developers managed to attract more than $ 2 billion to the project. According to experts, the amount received is so huge that the development team may lose interest in the project, without which this currency will not be able to function and develop independently.

Prospects for the future

When making a forecast for EOS cryptocurrencies, it is worth it because these are not just tokens. Behind EOS is a popular project designed to eliminate the disadvantages of blockchain technology and create a unique platform for transactions and project development. The capitalization of the cryptocurrency itself directly depends on the development of the project.

For the period from 2019 to 2020, experts predict the growth of the currency to $25-50 per unit, and with the successful operation and demand for the platform, the cost will only increase. The only problem is that no one knows with what success the project will function and how well the ideas will be implemented.

Conclusion

A huge advantage and, at the same time, a disadvantage is that EOS is the internal cryptocurrency of the system, the growth of which is completely related to the intensity of the development of the platform. At the same time, even the creators do not make predictions about the pace at which it will develop.

Besides, the company already has competitors that have a common line of development with it: Ethereum, Tezos, Aeternity, Quantum, and Tauchain. The further popularity of EOS also depends on their rate of promotion.

While the project is gaining momentum and buying tokens can make a profit on the difference in the rate. Still, you need to be prepared to ensure that the assets will quickly drain if the reputation of the platform will begin to decline, as well as to ensure that the project can remain abandoned entirely. The cost of the EOS token will be equal to zero.

Frequently Asked Questions

What is EOS?

EOS is owned by Block.one registered in the Cayman Islands. The development team consists of 50 people. Under the idea of developing an operating system on the blockchain, it held an ICO, after which the EOS cryptocurrency of the same name was born, with the help of the sale of tokens, investments from crypto-enthusiasts are collected for actual implementation. The sale of cryptocurrency started on June 26, 2017. In total, it is planned to issue 1 billion tokens, with 100 million of them reserved for the company and not subject to sales.

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