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Explore EOS in Onchain
EOS may be available for swapping via Onchain, our official decentralised product. Try it now.
Explore EOS in Onchain
EOS may be available for swapping via Onchain, our official decentralised product. Try it now.
Rank
#14802
24H volume
$50,732
All-time high
$27.30
-26798.6%
All-time low
$0.08
16.87%
Total supply
2.1B EOS
Max supply
2.1B EOS
| Time | Price | Change |
|---|---|---|
| Today | 0.00% | |
| 1 day | -$0.0027 (2.58%) | |
| 1 week | +$0.02 (20.72%) | |
| 1 month | +$0.01 (17.25%) | |
| 1 year | -$0.81 (88.78%) |
EOS is a cryptocurrency that powers the EOSIO platform, a blockchain designed to be highly scalable for smart contracts and decentralized applications (DApps). EOS has the capacity to process millions of transactions per second with no transaction fees for users. Instead of fees, the network compensates the companies that administer it with new EOS tokens, a form of inflation that replaces the need for transaction fees. The platform aims to be the most powerful blockchain for DApp development.
EOS was launched in June 2018 by the firm Block.one, which developed the open-source EOSIO software used on the network. The project's Initial Coin Offering (ICO), which began in June 2017 and lasted for a year, raised over $4 billion, making it the largest ICO to date. EOS has received backing from prominent investment firms, including TaaS Fund, SVK Crypto, and a $325 million fund led by Mike Novogratz called Galaxy Digital EOS VC. EOSIO's core promise is to support thousands of commercial-scale DApps without performance issues by using parallel execution and asynchronous communication protocols.
The EOS network does not use the traditional Bitcoin mining paradigm. Instead, it uses a **Delegated Proof of Stake (DPoS)** model. Block producers, who are elected by token holders, generate blocks and are rewarded with newly created EOS tokens for each block they produce. The amount of new tokens created is determined by the median value of the compensation proposals released by all block producers.
This mechanism also ties into how storage is managed on the network. All token holders effectively pay for file storage on the EOS network through a share of the annual inflation. As long as they store files, their EOS tokens are subject to this inflation rate. The system is designed so that if storage demand increases, block producers can demand higher compensation through inflation, which token holders must approve. If storage demand falls, inflation will also decrease. EOS tokens can be stored in various wallets, including Ethereum Wallet, MyEtherWallet, and MetaMask.
EOS is a direct competitor to Ethereum, aiming to provide a larger, faster, and more scalable platform for DApps. Its core usability features include a web toolkit for interface development, self-describing database schemas, and declarative permissions. These features simplify the development and maintenance of applications. EOS provides the foundational capability for businesses to create blockchain applications in a similar manner to how they would build web applications. While Ethereum typically handles around 15 transactions per second, EOS can process thousands of transactions per second, with the goal of scaling to millions in the future.
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