Often compared to Ethereum, EOS is an open-source blockchain-powered platform that enables the development of decentralized applications (DAPPs). It was founded by Dan Larrimer in 2017 – creator of both Steem and Bitshares – and its software was built by “Block.one”, a company experienced with blockchain software development since 2014. The software, “EOS.IO”, uses a Delegated Proof of Stake consensus and enables the creation of a blockchain network that “has the potential to scale to millions of transactions per second, eliminate user fees, and allow for quick and easy deployment of DAPPs”.
EOS coins are ERC20 tokens created and distributed on the Ethereum network. When DAPP development is officially enabled on the EOS platform, developers that are simply holding EOS tokens will be able to build on and use the EOS blockchain (without spending the tokens).
While Ethereum acts as a decentralized supercomputer, EOS can be considered a fully integrated and decentralized operating system (“similar to MacOs/Windows but with crypto-economic incentive”).
- Extremely high scalability (millions of transactions per second)
- Does not require micropayments for using EOS platform (free to use)
- Applications have their own secure database and file spice on EOS blockchain
- Current competitor in the space is Ethereum
Where/How to buy:
EOS tokens can be purchased with Canadian Dollars and/or other supported cryptocurrencies on our exchange. Refer to the Getting Started section to learn about buying and selling cryptocurrencies on the NDAX platform.
EOS tokens can be stored on our exchange and on several wallets, including MyEtherWallet, the Exodus wallet, and the Jaxx wallet.