What is EOS? EOS is one of the highest capped cryptocurrencies in the crypto space. It began it’s journey as an ERC20 token, launching its ICO, on June 26, 2017, reaching the required seed amount by June 1, 2018, for a total of 350 days of continuous fundraising. The company managed to raise a staggering $2.5 Billion in Ethereum tokens, equating to over 5% of all circulating Ethereum tokens at the time.
What is EOS and What Makes EOS Special
Holding many similarities to the Ethereum model, the EOS coin offers valuable features which make it unique, awarding it the name the “Ethereum Killer”. This technology and the company behind it, bring a few notable distinctions to the table, more specifically, advantages in scalability, flexibility, and usability.
Firstly, the underlining technology is designed to enable scaling both horizontally and vertically for all decentralized applications. Secondly, developers are able to fix bugs and rollback changes with supermajority consensus instead of demanding a hard-fork, a major change to the current use cases. Additionally, the supporting EOS blockchain architecture has the potential of scaling to millions of transactions per second, eliminating user fees and allowing for simple and quick deployment of applications to the system. Therefore, rendering EOS as a potential game-changer in the field.
About the Team
Block.on is the company behind the development of the EOS project.
Brendan Blumer – CEO of block.one. The 31-year-old Blumer originally from the US, currently based in Hong Kong. Prior to the, he founded Okay.com, and later became the founder and CEO of ii5. Additionally, Blumer also sold MMORPG digital assets earlier in his career.
Dan Larrimer – CTO and the creator of the EOS coin. A well-known developer, involved in many successful ventures namely, Steam and BitShares. Adding to his resume, Larrimier also created the proof-of-stake algorithm as well as the idea of decentralized autonomous organization.
Other two important members involved are two partners, Ian Grigg and Brock Pierce. Grigg has been constructing cryptographic ledger platforms for over 20 years. He was the inventor of the Ricardian Contract and co-inventor of Triple-Entry Accounting. Pierce is a co-founder of Blockchain Capital and Chairman of Bitcoin Foundation.
About EOS Coin
Block.on originally introduced EOS ($EOS) as an Ethereum ERC20 token. The ICO price of $EOS was 0.00326797 ETH which is equal to $0.99 at the time. As of 28th June 2018, $EOS token is listed at $7.80, which is almost 10x its ICO price. With a total supply of 900 million tokens and its circulating supply is 896 million tokens. Currently has a market cap of $6.987 billion