AltcoinEOSFactsInteresting Facts

10 Interesting Facts About EOS

Key Facts

Name: EOS
Symbol: EOS
Creation Year: 2017
Creator: First implementation by Dan Larimer
Key People: Brendan Blumer (CEO), Dan Larimer (CTO)
Supply Limit: 1 Billion
Mineable: No
Social Media: Twitter Facebook Medium Telegram  Github

Interesting Facts About EOS

What is EOS?

EOS introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This has huge potential in the future as it will enable new use cases and applications in the crypto space. A lot of crypto experts are very passionate about EOS and no surprise that EOS currently ranks #5 with a market cap of $14.86 billion.

1. EOS creators did not provide any formal definition for the abbreviation EOS and left it open to people interpretations. Therefore, different people have suggested different meanings of EOS like Ethereum Operating System, Ethereum On Steroids, EOS Operating System etc.

2. EOS software is build by a Cayman Islands exempted company called which has committed to invest over $1B for the growth of the EOS ecosystem. EOS project was initially launched by Dan Larimer, who is also the founder and creator of Bitshares and Steem.

3. EOS ecosystem consists of EOS.IO and EOS token. EOS.IO software system is built like an operating system upon which new application can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. EOS proudly boasts itself as the most powerful infrastructure for decentralized applications and can support thousands of commercial scale DApps.

4. EOS supports inter-blockchain communication and separates authentication from execution. EOS tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract.

5. EOS blockchain architecture has potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications. Currently, it supports 500 ms block intervals.

6. In April, announced the first feature complete pre-release of EOSIO, Dawn 3.0. This pre-release represents a major milestone for successful release of EOSIO 1.0 which is targeted for release in June 2018.

7. EOS boasts as the most secure blockchain on the market and supports security delayed transactions and lost password recovery features. Like most of the blockchain projects, EOS is an open source project, you can find source code on Github.

8. EOS has a ridiculously long 341 days token campaign which started in June 26, 2017 and still on going, good news is you can still buy EOS tokens. According to EOS team, its done to provide ample time for the crypto community to familiarize with the project and participate in the token distribution. Not a bad idea for EOS decentralization.

9. Total of 1 billion EOS tokens will be distributed by the end of token campaign. 10% of total amount of EOS Tokens distributed will be reserved for

10. EOS price is set by market demand which mimics mining without giving potential unfair advantages to large investors/miners, again good for coin decentralization. You must have already got idea, EOS is not mineable. On April 29th, EOS price hit an all time high of $22.89, with a total market cap of $15.53 billion.

If you like above article then Bloqtimes recommends below articles which might be of interest to our readers.

10 Must Known Facts About Bitcoin
10 Must Known Facts About Ethereum
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Sean is a passionate Blockchain and Crypto nerd. He has strong enchantment for blockchain technology, cryptocurrencies and geo-politics.

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