What is EOS and how to earn some?

 A lot of people do not know what is EOS, including me a few days ago. 

EOS Tokens work on a protocol EOSIO designed for fast and free blockchain apps. The blockchain name itself is EOS. There are other tokens run on EOSIO protocol, but EOS is the most popular tokens.



Instead of "Proof of Work" Concept the Bitcoin use, EOSIO use "Delegated Proof of Stake" DPoS as consensus model. It allows EOS Transactions to be faster than Bitcoin's. It is one of the advantages of EOS Coins. EOS Network users vote for the computers which they think best suited. In EOSIO, they are called block producers. There are 21 block producers in EOS, which are professional teams using enterprise software. Each block producer takes a turn validating transactions and producing blocks, which are then check by other 20 block producers. EOSIO produces block every half a second. Network users can change their vote for block producer, if block producer fail to meet their expectation. Another block producer will take its place immediately. There are hundreds of block producer candidates on EOS Block Chain, though only 21 are actively provided consensus, but EOS Tokens are awarded to all block producers who receive a significant numbers of vote from network users. 

Only the owners of EOS Tokens can be vote for block producers. This is one of the distinctive features of  EOS Token. EOS Block chain is govern by the votes from EOS holders. 

Another major advantage of EOS is absence of transaction fees. EOS Tokens are free to transfer from one person another without any charges. It makes microtransactions possible. EOS users also can use CPU, Network resources by staking EOS Tokens, just by holding them, unlike other block chain tokens which need to pay mining fees to miners. 

Now you know what is EOS and what are its advantages. But how to get some.


You can earn free EOS at Trust Dice Faucet. 


You can also buy EOS at Binance.


Check my blog for other cryptocurrencies, too. 



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