EOS is one of the powerful blockchain infrastructures developing decentralized apps. Its
infrastructure is similar to Euthereum with some superior advantages like scalability and
flexibility. This short review will get insight into the EOS ecosystem and will learn how to buy it.
Get inside EOS
To describe EOS in a few words we can describe it as a specific architecture that compliments the Internet. What does it mean? EOS helps to meet the performance requirements of the decentralized apps when they require communicating with millions of people in real-time. There is no fee for the transactions with the EOS ecosystem and it is upgradable to perform millions of transactions in no time.
These features make EOS an interesting blockchain for the developers of decentralized apps. To construct your dApp within this infrastructure you have to use an EOS token, which will serve as your key to the EOS resources. EOS quickly grew in value and popularity, and today it is seen as the main competitor to Ethereum. As we already mentioned it is a platform that is created with the goal of running on Dapps (decentralized applications).
Funnily enough, it was created by Dan Larimer. Interestingly this man is the same one who is behind BitShares and Steemit. While it competes with Ethereumthere are departments where already it is ahead of its main competitor. If you didn’t know it is more scalable and flexible than Ethereum. Because of this feature, it is more adept in being part of Dapps as developers find it easier to work with. A fun fact is that the creation of Ethereum is claimed by all miners who are working on it. But, if you take a look at EOS you’ll learn that new blocks for EOS are produced by only twenty-one computers.
When it comes to the difference between the two we are not done. As you probably know, and we have mentioned somewhere in this article already that, unlike Ethereum, EOS doesn’t have any transaction fees included. Furthermore, it is considered a gold mine in terms of transactions as it could potentially produce millions per second. Before going mainstream, EOS went ICO, which ran for almost a year between 2017 and 2018.
This move raised more than $4 billion, which is a substantial amount. Thanks to it, it got all the backing needed to raise in the standings, and today it is easily a top ten among all cryptocurrencies. While it is highly valued in terms of both cryptocurrencies and blockchains it still has a long way to go to reach the popularity levels of Ethereum. But, the way things stand now, it won’t be long until it is on the same level.
How can you buy EOS?
Once you’ve understood the EOS advantages next question is how to buy this interesting coin. There is not official EOS wallet at the moment, hence you have to rely on third parties to buy it. The first step is to choose the wallet where you plan to store the token.
Here are several options at your disposal:
● Desktop wallets – the user-friendly desktop application for Windows, Mac, and Linux
● Web wallets – allow for the safe saving of your tokens on a computer rather than online
● Mobile wallets – suitable for access to your coins from Android or iOS
● Hardware wallets – these wallets provide a form of cold storage for your tokens. They
have additional layers of security and pin code and encrypted passwords
You have to remember that to make the choice of the wallet you have to analyze its security,
availability of private keys and check whether it has the constant development of new features. It is also important to check the users’ reviews and determine the wallet that is most suitable for your needs and has the highest security level. Taking into account that hackers’ attacks become more powerful each day it is more important than ever to think about the additional layers of security for your crypto money.
Once you have chosen your wallet it’s time to purchase your EOS. You can do it at any popular crypto exchange. If you’re a newcomer to the crypto world you likely have no idea that it is not so
easy to buy EOS with USD. One of the perfect exchanges for this kind of transaction is Bitfinax, where you can EOS/USD pair. If you’re not a newcomer and would like to buy EOS with Bitcoin or Ethereum you can use any other popular crypto exchange. Remember that you can’t buy EOS with fiat money, hence you have to first purchase BTC or ETH and then exchange it for EOS.
If you’re interested in trading operations and want to gain additional money during the market fluctuations you might like to change eos to BTC during the period when BTC goes down. You can make a visa versa operation one its price will go up again. Do not forget to transfer part of your EOS to your crypto wallet to save it for future transactions, especially if you’re interested in the Dapps projects.
The way things stand now, EOS is rapidly closing in on Ethereum. It has momentum but the race isn’t over, and at the moment of writing this article, it is nowhere close to running over Ethereum. The latter one is still the best and most popular decentralized app. But, if anyone can do it it’s EOS. When it comes to a race like this it is not about how you finish but how did you start. We can say that rarely anyone had a good start as EOS considering their ICO start which brought them a substantial amount of money for a brilliant head-start.
Thanks to this move, everything they have done later seems impeccable. It is one of those situations where their positions speak miles for themselves and they managed to have a flawless track record so far. At the moment of writing this article, it is not as easy to buy EOS compared to other cryptos, but with time it will be easier as it enters the main waters of digital currencies. It evolves with each day, and its token will soon enough be in the rank with other leaders in this segment, many exchanges will work with it, and you’ll be able to buy and trade it at will. You can even exchange it right now for BTC at Godex.