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EOS

0.00%

Market Cap (USD)

$645M

24H VOLUME (USD)

$28

Daily change

$0.018

Explore EOS Live Price Chart with CEX.IO

EOS is an open-source blockchain platform developed to support creating and deploying industrial-scale decentralized applications (dApps). It aims to address the existing challenges associated with first wave blockchains like Ethereum, including scalability, performance, and high transaction fees.  

EOS is the native cryptocurrency of the EOS ecosystem. It serves as a secure medium of exchange and a governance token, granting EOS owners a say in shaping the future of this Web3 platform. Additionally, participants can use EOS to purchase or rent storage and network bandwidth while building apps on the EOS platform. 

Crypto enthusiasts can acquire EOS on CEX.IO, a regulated crypto exchange that supports buying crypto in the U.S., as well as 220+ other countries worldwide. In this guide, we explore the inner mechanisms of EOS and how to safely purchase this cryptocurrency on CEX.IO. 

EOS Blockchain Technology

EOS targets developers seeking to build and manage business-scale decentralized applications (dApps). It aims to achieve this by offering a potentially more developer-friendly environment compared to other blockchains.

The platform offers several tools and functionalities that could contribute to this goal. Features like vertical resource allocation and on-chain governance set EOS apart, potentially making it easier for developers and enthusiasts to deploy dApps on the network.

EOSIO, an open-source software that acts like a blockchain operating system, further empowers network contributors. It provides access to various tools and resources specifically designed for building blockchain-based applications.

EOS Tokenomics

EOS held a year-long Initial Coin Offering (ICO) from June 2017 to June 2018. It was one of the largest ICOs at that time, raising over $4 billion

The ICO Controversy

Despite the initial success, the EOS distribution raised some concerns during the ICO. While Block.one, the company behind EOS, aimed for fair distribution, reported data suggests a large concentration of tokens ended up in a relatively small number of addresses, potentially contradicting the initial goals.

The total supply of EOS cryptocurrency is 1,125,379,527 EOS, which are also currently in circulation.

The Role of EOS within its Ecosystem

EOS tokens play a crucial role within the EOS ecosystem, functioning as the backbone for both network governance and resource allocation. 

Governance

Owning EOS tokens grants participants voting rights on the network. Token holders can participate in proposing and voting on changes to the EOS protocol, including upgrades, bug fixes, and even adjustments to resource allocation parameters.

Resource Allocation

Unlike other blockchains, EOS does not rely on transaction fees. Instead, it allows developers to purchase network resources like CPU, RAM, and network bandwidth, using EOS tokens when building Web3 applications. This approach can potentially ensure that the network has enough resources to function smoothly and prevent congestion. 

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EOS Development and Ecosystem

EOS has undergone significant development since its launch. Its main focus was to improve scalability, usability, and attract more developers. Here's an overview of EOS evolution and major version releases:

  • 2017 – Block.one published the whitepaper.
  • 2017-2018 – EOS ICO raised over $4 billion.
  • 2018 – The official launch of the EOS mainnet.
  • 2023 – Launching a fully compatible Ethereum Virtual Machine (EVM) to allow developers to bundle dApps on the EOS network.
  • 2024 – EOS introduced Wrapped RAM (WRAM) to allow developers to trade RAM resources.

EOS in the Blockchain Space

While EOS shares similarities with several other blockchains, such as Ethereum (ETH), Cosmos (ATOM) and Avalanche (AVAX), particularly in its focus on scalability and dApp development, it also has some unique features. 

Specifically, when observing similarities between EOS and the second most popular cryptocurrency by many accounts (ETH), the most evident examples include: 

  • Open-source nature – The code for both EOS and Ethereum is publicly available, allowing anyone to inspect it and contribute to its development.
  • Smart contract functionality – Both platforms enable developers to create and deploy smart contracts, self-executing agreements that facilitate decentralized applications.
  • Decentralized application development – EOS and Ethereum eliminate the need for a central authority by fostering the creation of decentralized applications (dApps) that run on a distributed network.
  • Accessibility – Crypto enthusiasts can buy Ethereum, as well as EOS, on various crypto exchanges, including CEX.IO. 

Despite these shared strengths, EOS aims to carve its own niche within the blockchain landscape through several key distinctions. Here's a closer look at how EOS deviates from its counterpart:

  • Scalability – EOS utilizes a delegated proof of stake (DPoS) consensus mechanism, as seen in Tron (TRX), Tezos (XTZ), and Cardano (ADA), aiming to offer faster transaction speeds and higher throughput. 
  • Developer friendliness – EOS offers a potentially more straightforward development experience with unique features, like vertical resource allocation and on-chain governance. However, Ethereum benefits from a larger pool of developers familiar with Solidity.
  • Ecosystem – Ethereum boasts a well-developed ecosystem with diverse dApps and established projects. While striving to build a robust ecosystem focused on DeFi and NFTs, EOS is still working to bridge the gap with Ethereum's more mature environment.

How to Buy, Store, and Use EOS Tokens?

Curious participants can acquire EOS on several reputable crypto exchanges, including CEX.IO, which offers a massive library of features and services indulging both crypto newcomers and experts.

Our customers can obtain EOS via Instant Buy, iOS and Android apps, or trade it against USD, BTC, and USDT through Spot Trading.  

EOS can be stored in a variety of cryptocurrency wallets, including hardware, software, and mobile wallets for easy, on-the-go access. 

An online crypto wallet, such as the one provided for free on CEX.IO, offers an intuitive pathway for storing cryptocurrencies, including EOS, providing users with accessibility and security features tailored to their needs.

Once acquired, customers can convert EOS into other cryptocurrencies or fiat currencies through our crypto payment app, utilizing its user-friendly interface and streamlined conversion process.

Staking EOS Tokens

While EOS utilizes a delegated proof of stake (DPoS) system, it differs from traditional staking on proof of stake (PoS) blockchains. EOS token holders cannot directly stake their tokens on the network to validate transactions and earn rewards.

Disclaimer: For our members interested in crypto staking, CEX.IO offers a variety of opportunities. We encourage users to explore our selection of supported proof of stake currencies, including popular choices like Tezos (XTZ)Cardano (ADA), and Solana (SOL).

EOS Market Performance

EOS has experienced significant volatility since its ICO in 2017. After launching at $0.995 per token, it exhibited rapid growth, reaching its first all-time high (ATH) of $11.96 in December 2017. This was followed by a consolidation period and a subsequent surge to a new ATH of $18.88.

However, the following years proved challenging for EOS. The token's price fluctuated considerably before entering a sustained downtrend. As of May 2024, EOS trades below its initial ICO price point and has struggled to regain momentum above $1.

Note: Curious participants considering EOS should carefully analyze its technical and fundamental factors before making any investment decisions.

Educational Resources and Community Engagement

CEX.IO empowers crypto enthusiasts to learn more about EOS and its functionalities. For those who want to delve deeper, the official EOS Network website (EOS Network) offers valuable insights into the EOS community, key features, and comprehensive development documentation.

Those interested in staying connected with the EOS ecosystem can explore the vibrant official channels:

  • EOS Telegram: Engage in real-time discussions, receive community updates, and stay on top of breaking news.
  • EOS Twitter (@EOSNetwork): Follow project announcements, learn about industry trends, and never miss EOS-related developments.
  • EOS GitHub repository: Explore the codebase, contribute to the project's open-source development, and stay updated on technical advancements.
  • EOS Discord: Engage with the developer community, ask questions, and participate in discussions about building dApps on the EOS network.

How to track EOS price?

Interested parties looking to track the real-time value of EOS can explore our list of crypto prices, which includes over 200 different assets. Alternatively, customers can visit Spot Trading to learn how EOS stacks against major cryptocurrencies like Bitcoin, stablecoins (USDT), and fiat currencies (USD). 

What payment methods can I use to buy EOS on CEX.IO?

Eligible customers can acquire EOS with credit/debit cards, e-wallets (Skrill, Neteller), and mobile payment processors (Google Pay and Apple Pay). Those interested in obtaining digital assets via bank transfers can buy crypto with SEPA or SWIFT, depending on their location. Remember that the availability of certain payment methods may differ between jurisdictions. For this reason, we advise all interested parties to conduct due diligence and check the availability of payment methods before initiating a purchase. 

What is CEX.IO savings? 

CEX.IO Savings is a service that allows eligible participants to potentially increase their cryptocurrency holdings over time by putting their idle crypto to work. It is vital to note that CEX.IO offers a flexible crypto savings account, allowing users to withdraw their crypto and potentially earn rewards. 

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