Eos Price EOS-INR

EOS is a decentralized, blockchain-based platform to build, host, and operate business apps or dApps. EOS launched In June 2018; Block.one, the firm that created the open-source software called EOS.IO that is utilized on the network, raised $4.1 billion in cryptocurrency through an ICO. On the network, a cryptocurrency EOS is used as payment.

EOS offers fundamental features that enable companies and people to build blockchain-based applications similarly to web-based applications. EOS offers permissions, data hosting, user monitoring, secure access, authentication, and communication between dApps and the Internet.

What is EOS Token?

The native token of the EOSIO network, a type of blockchain technology presenting itself as a decentralized operating system, is the EOS coin. This gives blockchain developers the resources and tools they need to create and scale decentralized apps.

The team launched the network's initial whitepaper in 2017 and conducted an ICO for a whole year, raising more than $4 billion in funding. With EOSIO now having one of the largest market caps among all blockchain systems, it is one of the biggest funding rounds in the history of cryptocurrency.

Who Created EOS Coin ?

EOS is the creation of Dan Larrimer, who also created BitShares, a decentralized, peer-to-peer exchange platform for exchanging cryptocurrencies without leaving the blockchain, and Steem, a social blockchain that rewards users for sharing content.

The organization that looks after the EOS software is called Block.one. It has staff members and advisors working worldwide, with major offices in Hong Kong, Blacksburg, Virginia, and Los Angeles. Block.one owns 10% of the EOS coins, and the EOS software is distributed under an open-source MIT software license.

How Does EOS Token Work?

EOS wants to create a decentralized blockchain that supports smart contracts and can process transactions quickly and at no cost.

By offering pre-built services, including server hosting, cloud storage, and user authentication, EOS aspires to perform as an operating system. This is intended to simplify and streamline the development of dApps significantly. Developers must own EOS tokens to use the EOS blockchain and its resources; they are not required to pay a fee to use EOS.

EOS and Ethereum are similar in specific ways. Both of them can host dApps created with smart contracts. In contrast to Ethereum, which can only handle a meager 15 transactions per second, EOS is designed to handle thousands of transactions per second. This is one of the main differences between the two. EOS makes this possible because it expands Ethereum's scalability by adding an additional layer on top of it. However, it also means that the market value of EOS is directly tied to Ethereum.