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EOS digital currency is another popular digital currency these days in exchange offices. Although Bitcoin has overtaken its competitors in the field of digital currencies. Investing and making a profit in this area is not limited to Bitcoin. There are hundreds of other projects in the digital currency market with the blockchain that EOS is also one of them. In this article, after introducing EOS currency. We will also examine its history and features.

What is the Blockchain?

To better understand EOS, we first need to take a look at Blockchain technology and examine some of its important features.

In short, blockchain is a special format for storing data. Blockchain stores data securely using a public ledger. A public office is actually a database between computer systems that are together on a particular network and encrypted with a private key. Although this network is naturally public. It is very difficult to hack or infiltrate it because each computer system in the network (Nodes) checks its status against other systems.

The most important feature of Blockchain is the Double Spent Problem. It is very wide on the Internet. If you have a one-dollar bill, you can not have a copy of it, but if a dollar is on the Internet, you can simply make a copy by pressing Ctrl + C! Music, video, and multimillion-dollar inventions are no exception to copyright and can be easily hacked.

Blockchain allows developers to solve this problem, which is why most developers are excited about using this technology and think it is the only way to escape from hostile powers. Security in the Chinese blockchain is such that each person is able to register their unique assets in which hackers are not able to copy.

This feature has persuaded most companies in the market to use Blockchain technology to generate tokens, which are essential digital currencies that Blockchain uses to track users and their assets. Some tokens, such as Bitcoin, are a purely digital currency, while others, such as Ethereum and EOS, have a more advanced mechanism.

What is EOS?

EOS is a platform used to build decentralized applications (Dapp). Like other types of blockchain-based projects, EOS has a digital currency or token to increase liquidity, but its main purpose is to provide developers with the tools they need to build full-fledged applications.

EOS was officially launched in 2017 by Block.One, and users are investing in the project by purchasing tokens with the aim of developing their applications on the EOS platform, so that users can start working on their project on this platform. They must have a certain amount of tokens. To gain a deeper understanding of the EOS operating system, we must first examine the concept of decentralized applications (Dapps).

What is a decentralized application (Dapp)?

In a typical application such as Spotify, the required data is stored in the mobile phone’s memory. The device detects and launches the desired files just when you want to run it. On the other hand, a decentralized application or Dapp stores its vital data in the context of a blockchain.

For example, if the Spotify app is to decentralizing. All the audio files you save through it will essentially be on a block. In other words, when you open a Dapp, the device will easily find the necessary files in the blockchain network instead of looking for the required information in the internal memory.

Of course, Blockchain architecture is not only dependent on data storage, but a decentralized application through Block Chain technology will be able to access the source of CPU power, short-term memory and other hardware items.

Most developers believe that Blockchain provides stored files securely and quickly, so instead of building their applications on limited devices, they have tried to block the massive blockchain network without Develop no decentralized application boundaries.

EOS currency also hopes to become profitable with the development of this field. Blockchain and EOS features provide a great platform for decentralized application development. The goal of the founders of EOS was to enable programmers to work in its environment as easily as possible.

In fact, just as the iOS platform has become popular for Apple or Windows applications for PC applications, the use of blockchain to run decentralized applications has not yet become widely accepted. Will also fall.

EOS features

EOS is not the only project that puts decentralized applications on the agenda, for example Ethereum is another Dapp platform with the development of Smart Contracts. However, through various features, EOS helps developers build applications on the blockchain platform.

Scalability

Blockchain applications often face resource constraints, and because they are on network. Their performance will be overshadowed. But EOS has found a solution to the problem of scalability so that through the process of asynchronous access and parallel execution (Parallel Execution) allows a large number of programmers to use the network simultaneously, which ultimately leads to the elimination of There is a lack of resources.

Use of tokens

Users in most blockchain-based projects require the use of tokens. Such as purchasing a token and then using it to pay for project services over a period of time. While EOS has announced that users will have free access. This is not 100% the case. It is more tangible than the other blockchains.

To develop the application in the blockchain of this project, you only need the EOS token, in addition, the EOS network allows you to use its services according to the amount of token you have. In other words, with one payment you will be able to access EOS network services.

Developer tools

Block.One has released a developer kit for EOS, which adds more benefits to IOS. The developer kit actually has a set of application tools that allow programmers to make the most of the EOS platform, and they can also develop more decentralized applications using this kit.

Authentication

Unlike other platforms, the EOS network allows users to open accounts directly on the database. This speeds up the application development process on the EOS network blockchain. In addition, the iterative process of user authentication has become part of the network architecture, making EOS performance much better than other networks.

Proof-of-Stake

EOS currency is on stock proof model. In fact, the computer network that forms the EOS blockchain is on the number of tokens per participant. In other words, the more tokens a person has, the more important role they will play in storing and processing data in the EOS network. The stock proof-of-work model is more efficient than the Proof-of-Work model used in most blockchains.

Inflation

This is very simple, but the most important advantage of the EOS network. The EOS project will release new tokens in line with the growth of the network and the increase of its users. If a mistake is in this regard, the project will be over-inflated. But if it proceeds in a calculated way, the price of EOS tokens will always be in one The range will remain balanced and user-friendly.

How to buy EOS

The process of buying EOS currency is the same as other currencies and digital tokens. First you need to create a wallet (Wallet) that fits the EOS currency. In fact the wallet allows you to store the desired code and access your tokens through it. There are several ways to save the token, but it is better to save it offline (via USB flash drive) or in online accounts. At https://coinfunda.com/best-eos-wallets you will find some of the best EOS wallets.

The next step is to exchange its tokens. You can easily exchange your tokens by registering in reputable online exchanges. If you use online wallets, you must link your account to an exchange office to withdraw and exchange tokens.

To buy tokens, depending on the type of exchange, you can do the purchase process directly (like regular online transactions). Of course, to buy EOS in some exchanges, you have to pay for the purchase through other digital currencies such as Bitcoin.

Finally, if you want to use EOS tokens, you must open an account on the blockchain. Once you open an account and pay the initial fees through EOS tokens, you will enter the world of blockchain networks and digital currencies.

last word

Buying and selling digital currency has become so pervasive in the modern world that most people look to invest in it. Meanwhile, some digital currency networks have entered the competition with a different approach. For example, IAS currency with the design of a network based on blockchain technology allows users to launch their own unique decentralized application in the environment. Build it. Today at DED9, after defining the concept of blockchain and decentralized applications. We also examined the features of EOS currency. We hope that this article has attracted the attention of digital currency lovers.