Bitcoin, Ethereum,… are well-known cryptocurrencies. Among them, EOS coin – one of the highly regarded coins in the crypto community, consistently leading in transaction volume (according to Coinmarketcap statistics). So, what do you know about EOS? Let’s review some related information together at Vietnam-ustrade.org!
What is EOS coin?
Like many other ‘big brothers’, EOS coin was launched in mid-2017. With a massive investment of up to 4.2 billion USD, EOS set a new record within the cryptocurrency community.
Block.one is the company that launched EOS to the market. Its goal is to develop and perfect EOS coin based on a secure, confidential, and open platform. Behind EOS’s success are co-founders Brandan Blumer and Dan Larimer, who played key roles in the EOS project.
Similar to other coins, EOS was initially built on the ERC20 platform. However, EOS is operated as a computer operating system. Therefore, users need to pay attention to three factors for EOS to function well: RAM, CPU Bandwidth, and Network Bandwidth.
RAM in EOS
RAM in computers is considered as a data storage drive. Similarly, RAM in EOS stores user information such as: account names, coin amounts, transaction contracts, etc. However, a key difference is that users must purchase storage data on RAM. The cost of 1 byte fluctuates depending on the market trading conditions.
CPU Bandwidth in EOS
CPU – as the name suggests, functions as the central operation center, capable of processing transactions on the platform. The speed of transaction processing depends on the CPU resources available. Users can also increase CPU capacity by staking more EOS on their accounts. CPU is measured in Microseconds – a relatively small unit considering the volume of transactions!
Network Bandwidth in EOS
Network Bandwidth, also known as signal transmission bandwidth in EOS, is a crucial factor, transferring transactions in unit Bytes. Like RAM and CPU, using Network Bandwidth consumes a certain amount, and it can be increased depending on the amount of EOS staked.
Comparing EOS with ETH
To objectively evaluate EOS and ETH, one should focus on three factors: Security, decentralization, and scalability.
- Security: For a newly launched platform like EOS, security features do not surpass ETH. However, it is uncertain whether EOS will outperform ETH in upcoming years to become a safer investment platform.
- Decentralization: This remains controversial, as EOS uses DPoS (Delegated Proof Of Stake), whereas ETH uses PoW (Proof Of Work).
- Scalability: With years of experience in cryptocurrency, EOS has surpassed ETH by addressing and optimizing scalability, capable of processing up to 1,000 transactions per second.
Additionally, the over $4 billion raised reflects significant investor confidence in EOS. The EOS platform also receives positive feedback for refunding the mandatory staking amount.
Current EOS coin price
Below is the current trading price of EOS coin, according to Coinmarketcap data:
Which wallet is safe for EOS coin?
To use EOS, users need to create a wallet that supports EOS storage. However, not all digital wallets can hold this coin, as EOS now uses Mainnet instead of ERC20 tokens at launch.
Currently, several platforms support EOS Mainnet like:
- ImToken: A popular virtual wallet on mobile, mainly used for ETH and ERC20 tokens.
- Exodus: A desktop wallet option for users to download and use.
- SimplEOS: A well-known platform for creating wallets on computers.
- Additionally, exchanges such as: OKEx, Binance, Huobi, etc., are also suitable for storing EOS coins.
Where to buy/sell EOS coins? Which exchange is ideal for trading EOS?
With EOS’s popularity, it’s easy to find places to buy EOS coins. Exchanges like Upbit, Binance, HitBTC, Huobi, etc., all allow EOS trading. Each has its pros and cons, but currently, Binance and Huobi are considered the most reliable for trading EOS coins.
Should you invest in EOS coin in 2020?
With considerable capital investment and advanced features, EOS has grown robustly. It has received high praise from experts and users alike. Early successes have affirmed EOS’s position in the crypto market. However, no one can predict the ceiling for EOS due to market fluctuations. Investment always involves risks, varying based on individual investment strategies.
Conclusion
Vietnam-ustrade.org has summarized some information about EOS coin for users. We hope this will help in making informed decisions on whether to invest in EOS. Wishing you success in the crypto market, especially with EOS coin.
