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EOS is a next-generation blockchain ecosystem that continues to receive heavy media coverage for its record-breaking ICO and unique characteristics. Importantly, the EOS.IO ecosystem entered the market with the goal to simplify the programming and integration of smart contracts and the development of decentralized applications (Dapps). To learn more visit our Investing in EOS guide.
We list the top 3 exchanges that offer the ability to buy EOS cryptocurrency with a credit card or debit card.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing EOS here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.
This exchange is best for Australia, Canada, Singapore, UK & international users. USA residents are prohibited.
Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
From humble beginnings, they have now gone on to become one of the most recognizable names in the space offering an extensive selection of assets to trade including EOS.
The trading costs are competitive with other exchanges and they have continued to evolve now offering both futures and margin trading.
This is our most recommended exchange for USA residents.
Huobi Global was established in 2013, they’ve since become one of the world’s largest digital asset exchanges with an accumulated trading volume of US $1 trillion. Having once accounted for half of the world’s digital asset transactions, Huobi now serves more than 5 million users in over 130 countries around the world. It should be noted that they do not accept USA residents.
They are one of the top exchanges that currently offers EOS (EOS) trading opportunities.
What is EOS?
EOS is an open-source blockchain network, launched by Block.one, in 2017. The project is structured to serve both small, and commercial scale operations.
What does it do?
Similar to Ethereum, EOS is a blockchain network, capable of hosting/executing decentralized applications (dApps).
This is achieved through use of EOS tokens, which act as a cryptocurrency on the EOS network; much like how Ether is used as ‘gas’ on the Ethereum network.
How does EOS work?
EOS operates through use of a delegated proof-of-stake protocol (DPOS). This governance model was chosen, with the goal of providing, not only scalability, but to mitigate centralization of the network.
Delegated proof of stake allows for those with active wallets, on the EOS network, to vote for representatives to act as ‘validators’. Validation duties surrounding network transactions are then delegated to these representatives for completion.
As development continues, it is expected that the team behind EOS will be focusing on a few key areas.
- App development
The driving theme behind the EOS project is similar to Ethereum – create a fair and transparent network, which supports both payments and dApps. The main differentiator between the two is the choice by EOS to use delegated proof-of-stake. This was done with the goal of ensuring continued decentralization.
Acceptance and Controversies?
While the potential for EOS is massive, the project has not come without its share of controversies. The top two, which continues to plague perception of EOS, are as follows.
- Centralization – One of the main draws towards most blockchain based projects is the promise of decentralization. While this was also a promise of EOS, the first 2 years of operation have seen the project become increasingly centralized. More specifically, much of this has seen a power shift to Chinese based companies, raising fears of government manipulation.
- Extended ICO -$4.1 billion – this is the amount raised by Block.one, during an ICO that was held over the course of an entire year. While some are ‘put off’ by the power that Block.one now holds over the network, there are many that simply believe this ICO was ‘over the top’. They believe here was no real reason why $4.1 billion was needed to conceptualize, develop and launch a successful network, and that this was simply a company taking advantage of anyone they could, during the ICO boom.
It would appear as though regulatory issues surrounding EOS have been settled. The SEC has made it clear that the vast majority of ICOs were conducted as unregistered securities offerings; EOS was no exception to this.
In September of 2019, EOS settled charges with the SEC surrounding their ICO. This settlement saw Block.one pay a $24 million civil penalty.
Who Made It?
EOS is the product of parent company, Block.one.