Many blockchain projects suffer from scalability problems. EOS tries to solve this. The EOS project provides a platform on which developers can easily develop decentralized applications (DApps). On this page, you can read an introduction to EOS and you'll get some useful tips for when you decide to buy or sell EOS.
EOS was launched in 2017 and aims to solve the scalability issues that blockchains often face. Developers can develop DApps on the platform. These are applications of which the code is stored on the blockchain. The applications can then be executed by the network.
This provides transparency and makes the applications resistant to censorship. After all, a central party cannot decide to remove a DApp because it does not like it. However, the major problem that similar platforms face, such as Ethereum, is scalability. This is the extent to which a network can grow once more and more people start using the platform.
EOS hopes to solve this by implementing the Delegated proof-of-stake (DPOS) protocol. This means that a group of validators verify blocks. A node can become a validator once it gets enough votes from the EOS holders in the network. Because of this protocol, it is no longer needed that every single node verifies a transaction.
In addition, a node has a certain amount of bandwidth available for its DApp to use. The bandwidth is determined based on the amount of EOS the node has. An EOS holder may decide to rent out their bandwidth to developers who need more bandwidth.
The project, led by Block.one, hopes to eventually be able to handle 100,000 transactions per second. This promise has not yet been fulfilled, although EOS seems to be getting there. Because EOS makes it easier for developers to develop DApps on the platform EOS has enormous potential.
Buy EOS (EOS) safely and easily via Knaken+
EOS has been one of the larger and popular cryptocurrencies for a long time. Because of this, the altcoin is available on most major cryptocurrency exchanges such as Binance, Coinbase, and Kraken. Here you buy EOS for the current spot market price and receive the EOS directly in your exchange account. You can read the advantages and disadvantages of this later on.
In addition, you can also buy EOS from over-the-counter (OTC) platforms, which are usually local companies. Buying EOS through these companies often offers more privacy because you buy the EOS directly from the company and then receive it in your own cryptocurrency wallet, which is also safer.
Once you own EOS, you can stake it, which basically means you will receive a reward for owning the cryptocurrency. You do have to have to operate a so-called Block Producer or Standby Block Producer, which means that you generate blocks for the EOS network.
Sell EOS (EOS) safely and easily via Knaken+
Do you want to sell EOS? This can be done through the aforementioned parties. If you have bought your EOS via an exchange, you can sell it again with just a few clicks on that same exchange.
If you want to sell EOS to another party, you must ensure that the EOS is in a wallet of which you have access to the private key, the key with which you can send and sell EOS.
Knaken helps you buy or sell EOS safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency.
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why do people buy or sell EOS?+
As with any cryptocurrency project you want to use or invest in, it's a good idea to first read into the underlying technology. Once you have done this, you can make an informed decision whether or not to invest in EOS. As the platform develops, more people may start using the platform. This can lead to a rising EOS price.
You can also actively trade with EOS. Based on technical and fundamental analysis, you can estimate whether the current EOS price is a good entry price. Once you expect EOS to peak, you can sell the EOS to generate returns. This involves many risks because the EOS price can be very volatile. So be careful.
Why choose Knaken?+
• Safe & Easy.
• No extra costs.
• Manage crypto via your Knaken Dashboard or your wallet.
• Knaken has its own exchange.
Important tips when buying/selling EOS+
First, it is important that you have a good EOS wallet. This is not immediately necessary if you decide to buy EOS through one of the bigger exchanges. Because you will receive your EOS in your account. It is advisable however to send your EOS to your own wallet after purchasing at an exchange. This way you can make sure you have access to your EOS at all times.
Do good research on the companies that offer EOS if you want to buy EOS through an OTC platform. Unfortunately, scams are common in the cryptocurrency world. So search for reviews from other users on, for example, Trustpilot, ask for experiences from friends and use your common sense. Does a website look cheap or bad? Then pay extra attention. Important: Never give the private key of your wallet to anyone!
Wallets come in different shapes and sizes. There are online wallets, wallets that can only be used with an internet connection and browser. This type of wallet is considered to be the most insecure. The safest option is a hardware wallet. These are a kind of USB sticks on which you can store your EOS. These wallets are not connected to the internet and therefore offer the most security.