EOS Explained in a quick read...Click to find out!!!

Howdy thare gang!!! Click on the post to find out about this amazing token we all use in the BBS Platform.

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Here is a simple explanation of the EOS Token, since it's the one we use for withdrawals in this amazing project, so here it is. EOS was born in 2018  with the idea to be the go-to blockchain for devs to create new dApps. EOS mainly uses it's funds to educate and give proper tools to these devs to help the embrace the blockchain technology. so its a win win situation they are working on.  As the article says "where the devs go the users follow" that is why they are working very hard to make EOS become THE choice for devs to create new dApps. Not only do they work with education and tools but also they work with scalability, meaning that they want to improve the transaction time on the blockchain.  Hence EOS was named "ETH Killer" since ETH is the leader in the transaction battle, but let me give some more info on EOS.

How it works you may ask?

Well the EOS project is to educate, let me put it simply, remember how we created webpages back in the day? with lots of code? and how easy is to create one now? That is basically it, EOS wants to make devs create dApps in such a simple way that it will be so accesible to all entering the web3 universe.

The difference of EOS.IO and the EOS Token

EOS.IO - It's the Operating System. The one that controls the EOS Blockchain, like Unix, MacOS or windows.

EOS is the  token used on the blockchain for payments in the network or if hodling for the governance on the blockchain. Think of it as the ETH to pay for the NFT's and other transactions, or the famous BTC Pizza, pay with the token you get some goods...this one is the one we are hodling or transacting for other things.

What makes EOS Special you say?

Well easy peasy...ETH is it's main competitor so EOS is working on the consensus mechanism, the method used in a network to verify transactions on a blockchain and is fundamental to maintaining security. We all know ETH is pretty bad at this method, that's why EOS is working on solving this and adding the tools to create dApps in an easy way well then, that will make EOS a true leader in the battle of tokens.

Is the EOS project truly decentralized?

Block.one built the EOS platform and token holders have a vote on who gets to verify the transactions because of their POS (Proof of Stake) consensus. Token holders can also have a say in protocol changes, thus making people think its not decentralized, but there is an "A-Ha" here...10% of the tokens from the ICO are held by the founders (well they need to have a gain right?) but the remaining 90% goes to investors (us!!! yay), Block.one will have it's allocation of the tokens but in a 10 year drip if you want to call it like that, meaning that it kinda allocates little by little. Hence, we get the say and not a big corpo saying what is what and what goes where. It is quite the project...and me, personally believe in it.

Anyways, be well my friends and remember this is just for educational purposes not financial advise in any way, shape or form. DYOR don't let the LUNA fiasco happen to you again.

By Adam Saddique

Source: 

https://www.cryptonary.com/cryptoschool/simply-explained-eos-eos/

What are your thoughts? If you like the post, drop a comment!! thank you for reading and I send you some amazing vibes!!!

Your friendly cryptor, AndyHuerta.