What is EOS cryptocurrency?
Before explaining what it is, it should be noted that the EOS cryptocurrency is primarily a blockchain platform. According to Larimer's plan, it will rather resemble an operating system, on the basis of which developers can create decentralized applications. Features of the system will allow you to work with databases, create accounts, use authentication procedures. Like any other digital currency, EOS cryptocurrency is inextricably linked with blockchain technology. Dan Larimer's main focus was to provide a platform for the development of decentralized applications, which he successfully created. Thanks to fast parallel processing and access to numerous databases, the speed of transactions can reach a million transactions per second.You don't need to be an expert to understand how big a breakthrough in the blockchain industry and related technologies has been made by Larimer and his associates. A special feature is that it will be possible to carry out a huge number of operations in the shortest possible time, provided not only by the features of the platform, but also due to the even distribution of tasks to different cores of the system. The active use of DPoS (Delegated Proof of Stake, or Delegated Proof of Stake) can not only speed up the process, but also make it more secure.
EOS promises to revolutionize the decentralized app industry by lowering the entry bar for developers and anyone looking for blockchain-based solutions.
So what exactly is EOS? The final goal of the project is a complete operating system for decentralized applications (dapps) aimed at the Internet. The operating system will provide services such as user authentication, cloud hosting, and server hosting, and 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 properly, and decide if changes are needed. application code 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 to Invest in EOS?
The cryptocurrency market is becoming more and more attractive not only in terms of the fact that it will become convenient, safe and fast to carry out any financial transactions around the world, but also because you can make good money on investments in a digital coin. Below we will consider options for the most common investment methods.
Mining is the most popular way to mine cryptocurrency.
To start mining crypto, you also need to download the miner in advance - this is special software in the form of standard desktop software. Note that some programs do not have a graphical tool, that is, they are in command line format. Therefore, for successful mining, you need to have confident computer skills. The choice of a method for mining cryptocurrency should be done based on what kind of coin you plan to mine and what budget you have. At the moment there is a popular classification of methods for mining cryptocurrencies - according to the capacities used. And here we can highlight:
- Cloud mining is the most profitable format in recent years, when the user leases computing power from a large service. With this format, the user does not buy his own equipment and does not service the equipment, but only pays for electricity. The service deducts a certain commission from clients.
- Collective mining is work in the so-called pools. Miners unite in order to increase the total hash rate, which increases the chances of finding a block. The most popular cryptocurrencies are mined exclusively in pools.
- Solo mining - the user solves cryptographic problems to find a block, using exclusively the computing power of his computer or farm - from two or more processors, video cards or ASICs. Now this method is practically irrelevant.
I would like to draw your attention to the fact that you cannot acquire EOS coins using mining.
Investing through online platforms
The best way to find out how the world works is to try to integrate into it as much as possible. And to find out how the financial system works, you need to try to dive deeper into the whirlpool of organized trading, and for this you just need to open an account with a broker and gain access to financial trading platforms. But the fact of the matter is that this access can be different. Different quality, which is expressed in the efficiency of work, in the convenience of providing aggregated relevant analytics and many other nuances that will affect the quality of the decisions made. People already working with cryptocurrencies know that with their help, with a competent approach, you can make good money. You just need to find a suitable trading platform. Success, methods of depositing and withdrawing money, the complexity of registration and the safety of your assets will depend on this.
Below we will consider the main criteria by which you need to choose a site:
- The information about the commissions should not raise any questions.
- Convenience of the interface.
- Resource rating.
- Technical support service.
When working through an online platform, you can use a cfd contract. The Contract for Difference, which is translated into English as Contract for difference and abbreviated to CFD, is the most profitable instrument that allows you to make quick money with a minimum of free money.
CFD stands for Contract for Difference and allows you to buy or sell financial instruments without owning the underlying asset.
CFDs are perfect for novice traders who want to try their hand at trading and trade in a large number of financial markets, while not investing serious amounts of money.
At the very beginning of their trading, many traders think about exactly where to start working in this area. And here, as an option, you can recommend opening a demo account. Opening an account is completely free, but you will have such benefits in the future, such as:
- Knowledge of the financial tools for which you will be trading. You can test each of them and see how they work.
- Knowledge of the trading platform and the specifics of the trading market. You can study charts, make observations of the market, analyze stocks.
- Testing your trading strategy. You can see how your strategy will work, its advantages and disadvantages, to bring it to an ideal state.
- Honing your technical skills. This is important, when in real trade there is no time to think about actions and the speed of response is important.
Investing through crypto exchanges and crypto wallets
Now there is no such person who is not about cryptocurrencies. Now they write about digital money more and more often. The very first cryptocurrency exchanges appeared in 2010, and they still remain one of the most popular ways to purchase cryptocurrency. They bring together thousands of traders and investors who create millions of orders manually or using trading programs. More than three hundred exchanges are currently operating on the market.
A cryptocurrency exchange is a site where cryptocurrencies are bought and sold in real time at a real rate.
To work on a crypto exchange, you need a crypto wallet. There are several types of wallets for crypto currencies, the most important thing is to choose a reliable and safe one. Alternatively, you can use the installation of a special software computer, create an online crypto wallet on the website. Without such a storage, the use and accumulation of crypto assets is impossible, since they have no material embodiment and exist in the form of a record in the blockchain.
A crypto wallet is a special software (or hardware) software that allows you to store digital currency, as well as perform various operations with it.
Wallets can be divided into two types: hot and cold. Hot ones are those that are connected to the Internet and provide the ability to work with bitcoins online. They are easy to enter, easy to use and have a wide variety of settings. As for cold crypto wallets, these include all solutions that are not connected to the Internet.
The platform has the following positive qualities:
- No transaction fees. The resources of the user are used, in proportion to his rate.
- EOS can scale to millions of users and millions of transactions per second.
- Delegated protection of shares is provided.
- EOS can scale to millions of users and millions of transactions per second. In addition, it is possible to create thousands of decentralized applications based on this platform.
- EOS price depends on demand. This makes it possible to equalize all mining EOS, regardless of the amount they invest.
- High development potential. If the developers implement the declared bandwidth, then EOS will supplant not only Ethereum, but also most other competitors in the cryptocurrency market.
- Failed applications and the web assembly platform can be repaired and frozen, greatly increasing the flexibility of the system.
EOS cryptocurrency is a unique project with a strong idea in the daaps industry and an experienced team. The size and activity of the community speaks of a high level of hype and huge support among the community. In less than a year, the EOS cryptocurrency entered the TOP-5 cryptocurrencies in terms of capitalization. After analyzing all the information, we can conclude that the main growth of the coin is still ahead. If we compare EOS with Ether, and assume that the coin will be even more successful, then we can predict the growth of the EOS cryptocurrency rate to the level of 2,000 dollars or more.
EOS cryptocurrency is one of the best tools for long-term investments.
For many, EOS is more scalable and faster than Ethereum. The EOS team believes that a blockchain system must have the right structural framework if it is to be accepted by real industries in the real world, which is why EOS uses a much more efficient agreement algorithm called Delegated Proof of Stake (DPoS). Unlike Proof of Work, where they rely on miners or Proof of Stake, where they need hundreds or thousands of validators, DPoS has a fixed number of delegates that will validate all transactions. By reducing the number of nodes from hundreds or even thousands to twenty-one, one hopes that everything can be verified much faster and more efficiently. These block producers are voted on by the holders of EOS tokens. For simplicity's sake, EOS wants to be the next and larger version of Ethereum.And to achieve this goal, an efficient and fast delegated proof-of-stake algorithm is their core idea. The EOS team believes that delegated proof of stake is the best way to create a fast and scalable blockchain system. The main vision of the EOS team is to be a one-stop solution for decentralized applications (dApps) and smart contracts. EOS can be bought and invested in any country including Nigeria.