Complete Guide for EOS Selling and Buying
We can see how quickly the industry has grown to its current position by turning the pages of history back to when Bitcoin was first launched. Crypto was met with speculation and fingers pointing to usability. Many experts dismissed the idea that crypto was successful in the financial sector, and referred to it as a “failure” even before it started its journey. To everyone’s surprise, however, crypto managed to stay and endure the ups, downs, and finally turned all the negatives into the positives.
The industry grew rapidly to the multi-billion dollar industry it is today, thanks to the support of business leaders and retail investors.
The market started as a single coin. Today, there are over 5000 different varieties of virtual assets. The market has expanded beyond regular virtual currencies to include stablecoins and non-fungible tokens. One project stands out among the many digital assets. Its robust ecosystem has helped it gain rapid popularity.
EOS is the acronym for Electro-Optical System. The blockchain network allows seamless access to a decentralized infrastructure that focuses on crypto trading. It provides a safe and reliable interface that is easy to use for anyone who wants to explore the worlds of cryptocurrency.
This article will discuss the EOS platform in detail, its features and how it works, as well as everything you need to know about EOS token trading. Let’s get to the point.
Electro-Optical System was launched by Dan Larimer in June 2018. It is an open-source operating platform that uses blockchain to integrate decentralization. EOS’s powerful blockchain infrastructure allows for the creation of industry-level, decentralized applications that can be used in multiple industries. EOS.IO is the open-source software that powers the portal. It was developed by Block.one, a Cayman Islands-based company. The project raised $4.1 billion during its ICO. To gain greater market coverage and increase its reach, the team offered 1,000,000 ERC-20 tokens for investors. The ICO was the largest crowdfunding event in crypto history. EOSIO currently holds one of the largest market caps in blockchain.
The EOS operating system aims to facilitate user-centric access and foster innovation. This project was created to address the barriers that hinder blockchain adoption. Scalability is one of the major drawbacks to blockchain technology being a mainstream resource. You can learn more about scalability within a blockchain cluster by taking a good cryptocurrency trading course.
The top-tier Ethereum blockchain network has a very low TPS rate, which is a clear indication of the network’s scalability problems. In addition to low scalability and high gas fees, Ethereum users must also pay Gas Fees in order to use any DApps that are built on the platform. This makes blockchain extremely expensive and is not suitable for investors with low capital.
EOS was created to address these problems that hinder the growth of blockchain projects. This portal provides DApp developers with a powerful toolkit that allows them to easily build and scale decentralized applications.
Why choose EOS?
These are the key benefits of using EOS blockchain:
EOS blockchain solves the problem of scaling, which is quite common in today’s blockchain sector. Through its web toolkit, the platform facilitates the development of high-quality DApps. This toolkit assists in interface development, and focuses on providing a user-friendly DApp experience. EOS claims it can support millions of transactions per minute via its delegated proof-of-stake consensus mechanism. This system allows token owners to elect validators, rather than randomly selecting them.
- No cost
EOS is a more economical alternative to Ethereum, which has additional fees for every stage of DApp creation. EOS allows developers to create DApps that users can access for free. This opens up new growth opportunities for the blockchain community.
In 2016, Ethereum was hit by a code flaw that resulted in a significant fund loss for its venture capital fund DAO. The entire network was affected by the impact. This led to Ethereum’s hardfork, which ultimately resulted in two distinct blockchains Ethereum Classic as well as Ethereum- with individual cryptocurrency.
EOS claims that it is immune to such vulnerabilities due to its DPOS consensus mechanism. The DApp can be frozen by the block producers in the event of a threat to the network or a failure of the network. This will keep the DApp safe until the system recovers.
- Permission Schema
EOS provides a rich permission system that allows you to customize permission schemes for different business processes. Users can, for example, create a custom permission to protect a specific feature of an EOS smartcontract. You can also split the authority required to invoke an EOS smart-contract function. This allows developers to quickly create products and avoid having to switch between complicated processes.
- Swift Upgrades
DApps that are deployed to the EOS network can be easily upgraded. This feature allows creators to deploy code fixes and alter features. Developers can renew their apps easily without being tied to a bug. You can also deploy irreversible EOS smart contract.
EOS’s governance structure is very well-designed. It’s managed through the creation of regulations and choosing law that are compatible with each other. This is possible because of the legally binding constitution. Every trade on the EOS Blockchain requires the hash to attach the constitution to the sign. This binds you to the constitution.
What does it mean?
EOSIO is a decentralized operating system that allows DApp developers to access a wide range of services. It is a user-friendly platform that promotes crypto adoption around the world. The EOS blockchain is unique in that it uses the DPoS consensus method. It is capable of processing large volumes of transactions faster than Ethereum due to its high-end scaling.
EOS allows parallel execution of smart contract via:
- Horizontal scalability
This feature increases the TPS rate by adding additional computers or node systems to the resource network. Vertical scalability allows for an increase in the TPS rate by increasing processing power.
It refers the potential for different blockchains to exchange and access data. Interoperability allows you to develop products that combine the most lucrative features from multiple blockchains simultaneously.
- Asynchronous communication
This feature eliminates the need to have all parties present for communication to occur. This makes it easier for users.
About EOS Token
EOS is an in-built utility coin that makes up the core EOS network. EOS coins are not required to be spent by those who want to use the blockchain to develop DApps. EOS is not dependent on mining to add new coins to the channel, unlike other tokens such as Bitcoin. It currently stands at 48th place in the market with a circulating supply 993,187.865 EOS.
Block creators can produce more blocks in EOS to earn EOS tokens. Block creators can choose how much they will accept as payment on the platform. The platform has established a maximum amount of producer reward tokens to ensure transparency. The annual increase in token supply must not exceed 5%.
Token owners who cast votes in this regard have the full power to stop block producers from exceeding the limit. EOS tokens can be stored in multiple digital wallets by investors. They can then be traded across various global crypto exchanges such as Binance, OKX and Bybit. At the time of writing, the EOS token’s price is $0.9109.
How do I buy an EOS Coin?
- Select a wallet
To start EOS trading, one must first have a digital wallet. There are many wallet portals available that allow EOS storage, purchase, or sale. There are two types of crypto wallets: software wallets and hardware wallets. Software wallets store investor’s wallet keys, while hardware wallets are more analogous to USBs. Software wallets can be intangible, while hardware wallets can be physically plugged into the system. Software wallets are less secure than hardware wallets.
Crypto wallets don’t store assets, but they do store private keys. Private keys are passwords that allow holders to trade, access, and exchange digital assets. EOS wallets are equipped with two private keys: the owner key and activation key. The activation key is fully controlled by the owner key. The activation key is used to transfer, unstake, and stake tokens within EOS. Investors must create a 12-character name on the blockchain. This serves as the EOS account holder. A cryptocurrency address is a combination of numbers, letters and letters that represents a wallet that can send or receive cryptocurrencies.
- Select a Crypto Exchange
Coinbase is a trusted cryptocurrency exchange. It is listed on NASDAQ with a client base that includes people from more than 100 countries, including the USA, UK and Canada. The best security standards are offered by the exchange, where 98% user funds are kept in offline channels. More than 140 crypto tokens, including EOS, are available on the exchange. It can be accessed on desktop, Android and iOS.
Binance is a top choice for crypto enthusiasts, being recognized as the largest cryptocurrency trading platform. Binance is a great place to purchase EOS tokens due to its low fees and high liquidity. This allows for easy sale and purchase of EOS tokens.
EOS trading is supported by the crypto exchange. It also offers seamless access to more than 300 virtual assets. Investors of all levels will find it attractive due to its reasonable fees. KuCoin allows you to purchase with credit or debit cards.
WazirX, an Indian cryptocurrency exchange, has more than 400,000 users. EOS and other top-tier coins can be traded on the exchange. It is open to users all over the world. WazirX is part of Binance’s ecosystem, making it a trusted brand within the sector.
Huobi Global was founded in 2013 and has grown to be one of the most popular virtual asset exchanges. The exchange has a trading volume exceeding US$1 trillion and is supported by over 5 million customers from more than 130 countries. It is the preferred EOS trading exchange.
How do you sell EOS Tokens?
- Register on a trusted crypto exchange.
- Add the token volume that you are willing and able to sell.
- You can trade the EOS coins to get BTC or ETH.
- Transfer the BTC and ETH coins into your digital wallet.
- You can sell the BTC and ETH coins to fiat or withdraw the earnings.
EOS is a trusted, secure and safe investment option for those who want to venture into the digital asset space. EOSIO’s operating system and native EOS coin make EOS blockchain’s core infrastructure highly efficient. The core infrastructure of EOS blockchain allows developers to create innovative projects that serve the industry’s purpose. It offers a powerful toolkit that allows you to create DApps. This is both economical and user-friendly. The network is designed to reduce the gap between investors and crypto, in order to make virtual assets a dominant class within a global financial hub.
Blockchain Council is the perfect partner if you are interested in learning more about crypto. It offers many courses to help understand crypto trading concepts, and the blockchain technology mechanisms. Participants gain practical and subjective knowledge through the cryptocurrency expert courses available on the site.