The system supports asynchronous communication and at the same time conducts parallel processing of requests. This feature makes the coin very promising among other cryptocurrencies. EOS promises to seriously change the industry of decentralized applications, lowering the entry threshold for developers and everyone who needs solutions based on blockchain technology. The project itself was announced at the end of May 2017 at a special blockchain conference under called Consensus, which took place in New York.One of the main ideological inspirers of the system is Daniel Larimer, well-known in the cryptocurrency community.
EOS developers have very ambitious plans. And although this digital currency is similar to Ethereum, there are still a number of differences that allow this platform to compete. The main focus of the creators is on increasing the number of operations per second.
Another thing to note is that the EOS platform provides a governance model that is based on the ability to vote, which transaction to confirm, determine if the application is working correctly, and decide whether to make changes to the code. applications or the EOS system itself. This approach to governance means that the community can democratically influence the development of the network: improve the code and fix bugs in it.
How do I invest EOS?
Initially, it was assumed that EOS tokens would be available on exchanges only after the end of the ICO, but in fact it became possible to buy them there already at the end of 2017. You can buy EOS at the moment on various popular trading platforms, buy it. You can also store them here, but remember that this method is far from the most reliable. Below we will consider the most popular investment methods.
Mining refers to the process of making a digital coin by solving cryptographic equations using powerful computers. The solution process involves validating blocks of data and adding transaction records to a public record (ledger) known as the Blockchain. This is achieved through the use of sophisticated encryption methods.
Mining is the process of mining a cryptocurrency in the form of a cryptocurrency reward for those who provide their computing power for the functioning of the network of this cryptocurrency.
Miners use expensive hardware to verify transactions and prevent online fraud. They check new transactions and write them to the global ledger (blockchain). In other words, mining is the process of solving blocks in blockchain technology. For solving blocks, the miner (a person engaged in mining) receives a reward in the cryptocurrency, the blocks of which he solved. To solve the blocks, a large equipment power is needed, which grows with each solved block. Therefore, it is almost impossible to mine (extract) cryptocurrency alone. Because of this, miners began to unite in pools of thousands of participants. On the pool, the capacities of each miner's equipment are combined, and the received reward is divided in proportion to the utilized capacities.
Cryptocurrency mining is the extraction of digital assets using special equipment:
- Hard drives / SSDs are the least popular type of mining, however, coins appear periodically that "shake up this market" and miners are actively buying HDD / SSDs.
- Video cards (or series of video cards). The most common method. In this case, you can earn a lot of popular coins.
- Asiki are special, very powerful devices for mining cryptocurrencies. Cryptocurrency mined by Asik cannot be mined by a video card.
- Processors (CPU) are a less popular type of mining. It does not bring much profit, it is inconvenient for assembling a farm in large quantities, especially at home.
At the moment, mining the EOS cryptocurrency is impossible, the only way to get it is to buy it. The crypto can be bought either directly through the company's website, or on one of the exchanges.
Crypto exchange and crypto wallet
After another surge of interest in cryptocurrencies in 2021, this question began to interest many people who are looking for ways to make big money or increase their capital. The first thoughts that come to mind for experienced and novice investors are where to buy, sell and trade cryptocurrencies.
With so many cryptocurrencies to trade and a large number of newly created crypto exchanges, it becomes extremely difficult for novice investors to choose the right cryptocurrency exchange.
You need to understand how they differ from each other and what features you need to consider when choosing a cryptocurrency exchange.In order to start trading and successfully make money on digital assets, you need to know the basic information about investing in cryptocurrency. For the financial market to function, each user needs access to the cryptocurrency exchange. But did you know that there are two categories of cryptocurrency exchanges?
Thus, cryptocurrency exchanges are divided into two main types:
Decentralized cryptocurrency exchange (often referred to as DEX) - very similar to a centralized platform, but without third party intervention. These exchanges do not rely on any third party. Funds on the exchange are stored in the blockchain by the users themselves. For newcomers to IT and novice investors, this type of platform is not very suitable due to its complexity.
A centralized cryptocurrency exchange is a trading platform where a third party administration is used to monitor and protect transactions on behalf of the user. The blockchain system itself does not track transactions. But centralized cryptocurrency exchanges require their users to provide their personal information before using the tools they provide, so they are easy to use and meet the requirements for safe and easy trading.
While centralized exchanges have very strict security procedures, decentralized crypto exchanges offer a lot of protection. This type of exchange is most threatened by hackers.
Past hacking experience with centralized exchanges has resulted in their numerous security updates. In the case of a decentralized exchange, there is no risk of losing funds due to such actions.
Want to start buying and trading cryptocurrency? First, you need a cryptocurrency wallet.Wallets are pieces of software that allow the user to store cryptocurrency.
Regardless of the type, the essence of a crypto wallet is not physical storage, but providing quick access to money in the blockchain. At the same time, conditionally, all crypto wallets are divided into two categories: "hot" and "cold".
- Hot wallets are installed on a digital device and continuously communicate with the blockchain system, either directly or through the server of the online resource where the wallet is registered. Constant communication provides the ability to make payments quickly, and do it anywhere in the world, of course, if you have a stable Internet connection. Nevertheless, the vulnerability of hot wallets is obvious - in the constant connection to the network, in this regard, such applications can become victims of hacker attacks.
- A cold wallet allows the owner of crypto coins to protect themselves from such a misfortune. It is also installed directly on the user's personal computer; however, it does not maintain a permanent connection to the World Wide Web, and therefore is inaccessible to Internet intruders.
Investments through online trading platforms
Now there are a large number of platforms for trading digital coins designed to buy, sell, exchange popular and rare coins. The functionality includes the creation of simple and complex orders, input and output, storage on the account, as well as additional options. If you have recently started buying and investing, then perhaps your choice will be any top platform that has a fairly simple interface, with training materials or a demo account.
Transactions on this account will be carried out based on current market quotes using all technical systems and tools used on real accounts. Trading terminals, the process of opening and closing orders, the use of indicators and graphic elements, as well as many other software features - all this is absolutely identical, no matter what type of account you use. It is this lack of distinction that is valuable in using demo accounts. A novice trader can fully familiarize himself with the practical side of trading and at the same time not lose a cent of his personal funds on unsuccessful transactions or accidental actions.
When working on online platforms, you can use a CFD-contract. With the help of CFDs, you can earn on "predictions" of the behavior of the cryptocurrency rate. To do this, the investor needs to place a bet on which direction the asset price will go. If his prediction comes true, he will receive, as a prize, the very difference in price.
CFD is a contract whereby the investor does not need to purchase cryptocurrency. The system fixes the value of the asset at the time of the contract execution and the user's forecast.
Having entered the market in 2017, EOS has established itself as a reliable cryptocurrency. It has a number of undeniable advantages over Ethereum and allows you to create the same applications.
Its price in the future will increase from year to year and, according to the forecasts of experts from the world's leading platforms, it will also grow in 2022. In this regard, there is now an excellent opportunity to both buy and invest your capital in the coin.
This can be done in any country, including in Somalia, since the crypt is now sold on many exchanges.Some call EOS the "Ethereum Killer" because it operates in the same app market as ETH. Ethereum suffers from transaction speed issues, while EOS is highly scalable and can process millions of transactions per second. What's more, it comes without any transaction costs. EOS focuses on the vulnerabilities of the blockchain and tries to address the speed, scalability and flexibility issues that often become bottlenecks for these blockchain-based systems.