Things about EOS you should know

things-about-eos-you-should-know

Here are some important things you should know about EOS if you don’t want to miss out on the next big opportunity in the cryptocurrency space

EOS is a new project being developed in part by Dan Larimer the technical designer behind Steem. EOS will enable smart contracts similar to what Ethereum enables but with interesting performance and scalability benefits.

The EOS code is available on GitHub at https://github.com/EOSIO

There are some EOS Telegram chat groups in multiple languages, English, Korean, Russian. Below are the three that I am aware of. If you know more, please add them in the comments and we will update them here.

English – https://t.me/EOSproject
한국인 그룹 – https://t.me/EOSKorea
Российская группа – https://t.me/EOS_RU

EOS is not an officially defined acronym although many have been suggested, such as Ethereum On Steroids, End of Silence, Endless Online Scaling, etc. I like EOS Operating System.

There is no mining of EOS tokens at all. There are Producers, which are similar to Witnesses in Steem.

EOS is an operating system for decentralized apps.

EOS can handle scheduling and communications to possibly allow communication between decentralized apps.

The target number of total EOS token supply is 1 Billion with the potential (depending on community votes) of up to 5% inflation per annum. The tokens can be “staked” to power the blockchain’s bandwidth, computational power and storage capabilities.

EOS is using the most fair distribution model yet. Speed is not a factor in obtaining EOS. This means you do not have to worry about being outbid by bots and the like. The price is determined by the markets, so it is not fixed.

EOS is the first blockchain with its own constitution. Check out this post https://steemit.com/eos/@dantheman/what-could-a-blockchain-constitution-look-like

Did we mention that EOS have the capability to process MILLIONS of transactions per SECOND through horizontal scaling! For example: Ethereum can only process 15 transactions per second as of now. This beats any of the old players like Bitcoin and Ethereum. So, one of the biggest advantages will be scaling with potential for millions of transactions per second with EOS

If you plan to run a full EOS node, you will need to be ready to run on Linux/OS X.

Feel free to add more to this list in the comments below.

If you are interested in buying EOS on an exchange, you can easily do this on a Binance Exchange.