EOS
EOS is the utility token of the EOS blockchain, designed to support scalable, user-friendly decentralized applications with low transaction fees.
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- EOS
- Asset Type: eos
EOS is a mid-cap asset that represents the blockchain's native currency or monetary fee used to execute transactions on the network.
EOS has no dependencies.
EOS has a fixed supply. EOS is the native token of EOS, used for governance and resource allocation in its ecosystem.
What is EOS?
EOS is the native cryptocurrency of the EOS blockchain, launched in 2018 by Block.one to enable high-performance, scalable decentralized applications (dApps). The token is used for staking to gain access to network resources like bandwidth, CPU, and storage, allowing developers to run applications without incurring transaction fees for users. EOS aims to provide a more efficient and user-friendly blockchain infrastructure compared to early networks like Ethereum.
How does EOS work?
EOS operates on the EOS blockchain, which uses a Delegated Proof-of-Stake (DPoS) consensus mechanism. In this system, EOS holders vote for block producers who validate transactions and maintain the network. The DPoS model allows EOS to process thousands of transactions per second with zero gas fees, making it ideal for applications requiring high throughput. Developers use EOS to reserve resources on the network, while users benefit from free transactions when interacting with dApps. The network also supports smart contracts, making it versatile for various use cases.
How many EOS tokens are in circulation?
EOS is transitioning to a fixed supply of 2.1 billion tokens, eliminating its previous inflationary model. This change introduces a more predictable economic environment, aligning with efforts to enhance the network’s long-term stability. With all tokens already distributed, this capped supply could provide scarcity benefits if demand for EOS increases through ecosystem growth and adoption.