What is EOS – Ethereum’s biggest competitor
EOS is one of the most powerful blockchain platforms for decentralised applications. It is similar to the Ethereum platform but faster, more scalable, and allows users to build decentralized applications more efficiently.
The EOS.IO platform is being developed by a private company, block.one, and will allow to process millions of transactions per second through horizontal scaling, making older ecosystems, like Bitcoin and Ethereum, feel like an old 1980s personal computer with extremely limited computing capabilities.
A total of 1 billion EOS tokens are being distributed on the Ethereum blockchain over a period of 341 days, using a smart contract.
EOS.IO officially becomes an open-source software on June 1st, 2018, opening up the floor to developers to exploit the EOS coin’s potential. Conversely, EOS tokens owners act as shareholders of traditional public companies, that way the owners are able to cast votes and participate in the governance of the blockchain, in proportion to the their stake.
It is for these reasons, that financial analysts worldwide claim that EOS is the future of distributed companies and blockchain.
Why Trade EOS with AvaTrade
- AvaTrade offers EOS CFD trades with up to 5:1 leverage
- The cryptocurrency market is available to traders 24/7
- You can start trading EOS CFDs with as little as £100/$100/€100
- EOS volatility makes it an interesting addition to any trading portfolio
- You can sell EOS (go short) and potentially profit even when the market price drops
- AvaTrade offers zero commissions on EOS trading and no bank fees on transactions
- No need to open a cryptocurrency wallet to profit from EOS price action when trading with AvaTrade
- Enjoy world-class 24/5 customer service in your language
- No need to buy e-coins or risk e-wallet theft and hacking, simply because you don’t actually buy or sell EOS
- AvaTrade is regulated on 5 continents
The maximum accumulated position size for EOS is £/$/€ 50,000.
EOS in the markets
EOS was launched by Dan Larimer, founder and creator of Bitshares and Steem, two cryptocurrency platforms that still run today. EOS was first announced at a conference in 2017 with a peculiar ICO (Initial Coin Offering) launch; the distribution period of the token spans over a period of nearly a year according to the following schedule:
- 200,000,000 EOS Token (20% of the total) distributed over a 5-day period beginning June 26th,
2017 and ending on July 1st, 2017
- 700,000,000 EOS Tokens (70% of the total) split into 350 consecutive 23 hour periods
of 2,00,000 tokens beginning July 1st, 2017
- 100,000,000 EOS (10% of the total) reserved for block.one.
EOS initial price was $5 per token, but then quickly dropped, to reach a low of around $0.48. In November 2017, EOS started to rise, to reach an all-time high of around $13 in January 2018. The market capitalization of EOS has grown nearly ten-fold in the first 6 months.
Whilst EOS still remains largely conceptual, there are already potential advantages:
- It’s scalable horizontally and vertically (millions of transactions per second with asynchronous communication and parallel processing)
- It’s an open source ecosystem
- Transactions are 100% fee free (via an ownership model whereby users own and are entitled to use resources based on their stake instead of paying for transactions)
- Simplification of processes like bug fixing and changes to the blockchain
However, the future of EOS remains uncertain. No one can tell for sure if this e-coin will gain popularity as a transaction currency.
Traders and investors alike will continue to participate in the ICO and token distribution until the official launch of the open-source platform on June 1st, 2018, scrutinizing the breakthroughs that the development team will reach over these months.
The EOS timeline
The birth of a revolutionary ecosystem
- Beginning of 2017 – Launch of the new EOS blockchain
- June 26, 2017 – First 200,000,000 EOS token are allocated
- July 1, 2017 – Allocation of the remaining 700,000,000 EOS tokens over a period of 350 days.
- June 1, 2018 – Release of the EOS.IO open-source software to the community
When trading with AvaTrade you are trading on the price changes of the digital coin, and not physically purchasing it.
The maximum accumulated position size for EOS is $50,000 notional value, details in our Conditions and Charges page.
Register now and start trading EOS to USD with AvaTrade.