What is EOS (EOS)?
EOS is the ERC-20 standard token that is used on the EOSIO and EOS Public Network platforms, as well as the wider EOS ecosystem. The EOS ecosystem was developed as one of Ethereum’s sidechains. The EOS token serves as a tool for bandwidth management as well as a governance token.
EOSIO is an open-source DeFi security software. It uses cryptographic tools to ensure transaction security and follows the established regulatory guidelines.
The EOS Public Network is a blockchain network that provides access and development services. Individual users and organizations can use the EOS Public Network to create decentralized applications (dApps) and blockchain-based ecosystems. You can see the EOS price performance above.
Who is the EOS Developer?
The EOS ecosystem was developed by Daniel Larimer and Brendan Blumer of the Block.one team. The official whitepaper was published in 2017, and the EOS platform itself launched in June 2018 after completing an initial coin offering (ICO). At the time of launch, the EOS price was over $20.
Larimer is a software developer and a blockchain entrepreneur. He left the EOS project and Block.one in 2021. Blumer is an entrepreneur and the CEO of Block.one. He has worked on and invested in a number of centralized and decentralized finance projects.
The ecosystem is run by the EOS community, which has the power to determine the direction of the network as a decentralized autonomous organization (DAO). In 2021, EOS token holders voted to take action against Block.one and discontinue the token grants.
The goal of EOS was to provide a scalable solution for Ethereum that reinforces transaction security and makes the process of dApp development more accessible.
Throughout the ICO, the EOS price experienced market fluctuations. It peaked for the first time in late April 2018, just before the EOS crypto platform’s official launch. Historically, it's been considered a volatile asset.
What Are the Main Features of EOS?
There is no hard cap on the max supply of EOS. Since its an inflationary asset, it can be more difficult to predict the long-term EOS price.
The EOS token determines how much bandwidth a user can maintain on the ecosystem. The amount of bandwidth that a user is granted is proportional to the number of tokens they hold. A user that holds 1% of the tokens is eligible for 1% of the bandwidth.
In addition to the network speed, EOS also acts as the governance token on the EOSIO and EOS Public Network platforms which belong to the same blockchain ecosystem. Token holders are able to submit their proposals regarding the development of the network, vote on proposals, and make direct changes to the EOS ecosystem.
EOS token holders are also able to vote for the individual and organizational candidates for the block producer roles. This ensures fair distribution of power within the DAO and network decentralization.
Users are also able to stake their EOS crypto tokens on the EOSIO platform. Stakeholders are eligible for rewards. The awarded EOS price is based on the staked amount.