EOS is a blockchain platform where decentralized applications (dApps) can be built on top of. The project is supported by the EOS foundation and is part of the broader Web3 philosophy.
The EOS ecosystem is powered by its native token that goes by the same name and is responsible for several functions, including staking, governance, and in-platform transactions. EOS operates with a delegated PoS mechanism and is known for its scalability, divisibility, and programmability.
Think of this article as your all-inclusive guide to understanding the intricacies of the EOS platform and the EOS token. Together, we will explore its key features and its role in the larger context of the cryptocurrency world.
We’ll also examine the token’s past performance and prospects, offering insightful analysis for the reader. Furthermore, I will detail the process of buying EOS, should you want to know about that. So, without further delay, let’s dive in.
EOS Key Features
The following are some of the notable features of the EOS platform.
| Scalability | With the ability to handle thousands of transactions per second, EOS is highly scalable. This is achieved via parallel processing and asynchronous communication. |
| Consensus Mechanism | The platform employs what is called, a Delegated Proof of Stake (DPoS) consensus mechanism. Here, 21 elected block producers take turns validating transactions. |
| Usability | EOS allows businesses and individuals to create dApps with the ease of creating web-based applications, also providing secure authentication, data hosting, and communication to the rest of the internet. |
| Flexibility | EOS’s blockchain architecture supports vertical and horizontal scaling of dApps. |
| Resource Management | By providing usage management and permissions, the platform aims to facilitate a user-friendly blockchain development interface. |
| Transaction Efficiency | EOS can handle several millions of transactions per second, allowing a very large number of users to use it simultaneously without any transaction fees. |
EOS Tokenomics
EOS was launched in June 2018 and $4.1 billion was raised in its initial coin offering. The total supply of EOS is 1,143,826,379 tokens. There is no upper limit for the coin supply. The total value locked in the chain is $54 million.
EOS Past Performance
After its inception in 2017, EOS has been having a subpar performance except in a couple of instances.
While I am penning this article, EOS is trading at $1.00, which is 0.40% up from yesterday’s prices.
And, no, it’s not a stablecoin. The market capitalization is at $1.13 billion and the 24-hour trading volume is at $212 million.
EOS Price Prediction
Technical charts indicate that the current market sentiment is bullish and the Fear & Greed Index is at 73, signaling greed. EOS has recorded 17 (57%) of the last 30 days in the green region with a moderate 14.24% price volatility. Our analysts think that now is a good time to buy EOS.
2024: Technical analysis of EOS prices in recent days suggests that the price of EOS is expected to go up by 2.79% and hit $ 1.021876 by the end of next week.
2025: Talking of 2025 our technical analysts think that the price of EOS will fall between $0.97 on the lower end and $1.32 on the upper end. This will translate into a 31.33% return on today’s investment if the token hits the upper price target.
2030: Fast forward to 2030, EOS price is expected to lie between $0.70 on the lower end and $ 4.69 on the high end. Compared to today’s price, this will equate to a 365.33% return.
Where to Buy EOS (EOS)?
The following are the places you can find good market depth if you are planning to buy EOS.
How to Buy EOS?
Follow the below steps to buy EOS from MEXC.
- First, visit the MEXC website or smartphone app and register for a free account.
- Give your basic details and complete the KYC procedure.
- Click on the ‘buy crypto’ link on the top left of the site. Choose the credit/debit card method.
- Now buy the EOS token directly using MEXC’s peer-to-peer service.
- After buying EOS, you can hold them in your MEXC wallet or send them to a non-custodial wallet.
Conclusion
EOS is a dApps development platform with an emphasis on Web3. Owing to its scalability and flexibility, the platform has attracted a large number of developers in recent years. Its native token, the EOS token has been performing mostly flat since its initial launch. However, thanks to the ongoing crypto bull run, the token is getting some tailwinds. Our analysts are optimistic about EOS.
Nonetheless, it’s important to note that the value of cryptocurrency assets can vary greatly and may not always represent the worth of the underlying assets. Readers are urged to proceed with utmost caution when investing in such high-risk ventures. As always, stay away from leveraged investments and fancy-sounding-yet-questionable financial instruments.
