What is EOS

So, while we are seeing this wholesale blockchain cool off-price wise, EOS remains resilient and for good reasons. EOS is an awesome product and is a brain child of a veteran in this industry, Dan Larimer who is also the co founder and the creator of Steemit.

Dan is an ingenious guy and right now he is working with Block one to create this platform that will likely revolutionize DApps development. Interestingly, its ICO is in progress-started on June 26, 2017 and it will last for a whole year ending on June 26, 2018. It’s the first of its kind. So far, it has received more than $196M in funding.

EOS in a Nutshell

Simply put, EOS is an Ethereum based DApp platform that has some tad bit of similarities with Ethereum but amplifies the benefits of smart contracts and heighten scalability and performance courtesy of its Content of Events architecture.

What is EOS
EOS Main Features

Besides performance and availability, DApps creators will have  wonderful and easily time creating apps because EOS offer these operating system like services  like user authentication, web storage and database management in platform.

Because of Web Assembly language and DApps scheduling and communication, creators need not to rewrite code to access this system. This is the sole reason why EOS is so powerful and does something the Ethereum is not perfect at.

EOS makes things easy for a DApp developer. All a creator need to do is own some EOS and he/she automatically qualifies for a stake in EOS server resources. Unlike Ethereum, they don’t need to pay ‘Gas’ to use the server resource.

EOS Wallets

Since EOS is based on Ethereum and are ERC-20 tokens, you can easily store them in most Ethereum (ETH) compatible wallets. Stories of fraudulent rife have been floating around and so make sure you download them from official Ethereum websites. These hot wallets can safely store your EOS coins:

  • Ethereum Wallet
  • MyEtherWallet
  • Exodus
  • Jaxx
  • Icebox
  • EtherLi Multi-Sig Wallet
  • Hold them in an Exchange’s wallet

At the moment, the best way to store EOS offline is to store them in Ledger Nano S through MyEtherWallet.


Where to buy EOS

From Coinmarketcap, we can see that there are 89 different ways of buying EOS. Word of caution though, not every exchange is safe and we highly recommend exchanges with high trading volume and those which the blockchain community trust.

Apart from this, most of them mandate that you own some ETH/BTC before transacting. However, with BitFinex, you can deposit at least $10,000 or its equivalent before they allow you to transact.

These are my top 5 exchanges where you can get EOS:

  1. BitFinex
  2. Binance
  3. Kraken
  4. Bithumb
  5. Huobi

Alternatively, you can also use ShapeShift straight from your Exodus wallet to convert ETH to EOS, after all EOS is Ethereum compatible.

If you want to own some EOS, there is a clear guide of how to buy EOS.

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