An exceptionally fast and infinitely scalable smart contract platform.
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What is the EOS Token?
The EOS cryptocurrency is the native utility token of the EOS blockchain. EOS provides its token holders with the following use cases:
A fast and secure medium of exchange
An opportunity to shape the future of Web3
Access to EOS Network resources
A fast and secure medium of exchange
EOS is a global digital cryptocurrency that enables the exchange of value across the EOS Network’s ecosystem of dApps and smart contracts. It facilitates many functions including:
Transacting on decentralized finance (DeFi) protocols
Buying and selling of verifiably owned digital art through NFTs
Playing of value-generating GameFi platforms
A whole host of other digital activities
All of this is achieved without the intervention of a central arbiter.
An opportunity to shape the future of Web3
EOS token holders enjoy special governance privileges on the EOS Network. They provide input into how the ecosystem’s resources are allocated by voting for network validators. In so doing, they directly participate in forging the path forward for the EOS Network and the Web3 economy as a whole.
Access to EOS Network resources
The EOS cryptocurrency is also used to purchase or rent access to network bandwidth and storage capacity on the network. This is necessary to perform operations such as token transfers, utilizing decentralized applications (dApps) or interfacing with EOS smart contracts.
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How to Buy EOS
The EOS cryptocurrency is available on most of the global, leading digital exchanges. Listed below are some of the most popular crypto exchanges and on-ramp platforms where you can acquire and manage EOS:
It’s important that EOS token holders take the necessary steps to ensure the safety and security of self-custodial funds. Token’s are held within EOS accounts which can be leveraged using one of the following wallets. These allow users to safely store their public and private keys, send and receive EOS, monitor account balances, and interact with the EOS Network.
The EOS Network provides a world-class, robust, smart contract functionality that enables developers to build the best-in-class decentralized applications (dApps) easily. Thie plays a critical role in facilitating the open web of the future and, in so doing, powering the Web3 economy. EOS is designed to be exceptionally fast, infinitely scalable, and user-friendly for its developers and end-users. EOS is unlocking use cases that are redefining sectors as diverse as finance, gaming, sports and art—at the retail and institutional level, and it is set to have a transformational impact beyond this domain.
How does EOS work and operate?
The EOS Network is a 3rd generation blockchain platform powered by the open-source Antelope framework which enables optimal Web3 user and developer experiences. Antelope features: EOS VM, a low-latency and highly performant WebAssembly engine which enables the EOS Network to deterministically execute smart contract code while keeping transaction costs low; a native permission system which allows users to easily secure their EOS accounts with multiple keys that can further be configured to have limited access to different smart contract actions; and, a flexible architecture that keeps much of the blockchain functionality at the smart contract layer enabling the EOS Network to remain agile and to allow token holder selected representatives to reach consensus on adopting new enhancements to the platform often without requiring a difficult to coordinate hard fork of the network.The EOS Network is the flagship blockchain and financial center of the Antelope protocol, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
What are EOS token utility and maximum supply?
The EOS Network’s native token, EOS, is used to purchase or rent access to network bandwidth and storage capacity, to secure governance rights within the EOS Network, to transfer value on native applications, and to account for value by investors and speculators. EOS has a 3% rate of inflation with no limited max supply. There is a current total supply of 1.14B EOS tokens, with a circulating supply of 1.08 B.
Is EOS proof-of-stake (PoS)?
Delegated Proof Of Stake (DPoS) is the underlying consensus mechanism of EOS. While anyone can run a node to fully validate the EOS blockchain in a trustless manner, only selected entities known as Block Producers (BPs) are allowed to produce blocks and determine the canonical blockchain. Unlike Proof Of Stake (PoS), the validating entities taking part in the consensus process are not required to lock up tokens. Instead, individual token holders delegate their share of tokens to their preferred BP candidates. The top 21 candidates ranked by aggregate delegated token stake are selected as the active block producers. Token holders can change their delegations at any time, and within minutes the selection of the 21 active BPs can automatically change. So the BPs only maintain their privileges for as long as the delegating token holders continue to trust them to carry out their responsibilities.
What makes EOS different from other blockchains?
The EOS Network’s core infrastructure is designed to provide developers with the flexibility, reliability and security they need to bring their ideas to fruition. EOS is constantly innovating: The EOS blockchain features upgradable smart contracts, advanced permission schemas, forkless upgrades, time-based and custom-weighted MSIG functionality built into the protocol itself, re-keying of accounts, as well as functionality that empowers dApps, smart contracts or other users of the network to pay for the on-chain resources of another network participant. On top of all this, it is among the most performant and reliable L1 blockchains in existence with over 5 years of continuous uptime and able to handle over 10k transactions per second. Furthermore, EOS is part of a family of blockchain’s all building on the Antelope protocol, which enjoy trustless IBC between chains, and near infinite horizontal scalability through side chains.
What is next for the EOS Network?
The EOS ecosystem has experienced a strong resurgence of development and community activity. With engineers, creatives, industry thought leaders, and other contributors supporting the ecosystem and co-creating within the rapidly evolving Web3 space. With its extremely reliable foundation, whether through ventures such as the industry leading EOS EVM, forays into GameFi, DAOs, and more, EOS is poised to be a leader in innovation for years to come. To find out more details of what’s coming up next for EOS, check out the roadmap.
How to get involved within the EOS ecosystem?
If you are interested in learning more about projects in the EOS global ecosystem or want to build on the EOS Network, the ENF offers a myriad of opportunities for you to start learning, earning, and developing in the world of Web3.
Through direct grants, sponsored working groups, and long-term product development, the EOS Network Foundation takes a birds-eye view of the EOS Network to ensure that funding flows freely to projects and products that contribute to the growth, development and worldwide adoption of EOS as the open web of the future. This creates positive-sum games, which allow EOS to continue maturing as a best-in-class blockchain ecosystem.
This guide from EOS Support provides an in depth walk through on how to create an EOS native account with all major services. It’s important to note that all of this information is for creating an account on EOS native. The EOS EVM can be interfaced with using a traditional EVM based wallet, such as MetaMask. Check out this guide in the EOS documentation to learn how you can connect MetaMask to the EOS EVM.
What projects are being built on EOS?
The EOS community is composed of blockchain enthusiasts—including individuals and institutions—that build, collaborate, and innovate to bring new applications and business models to the market. Currently, EOS powers some of the most used applications in all of blockchain including notable dApps such as Upland, WordProof, BBS, Defibox, Hypha, Chintai and more...The recent launch of the EOS EVM has opened up the EOS ecosystem to the world of Solidity applications. Since it deployed, the EOS EVM has seen a consistent stream of dApps deploying. Explore the entire #PoweredByEOS ecosystem on the EOS Ecosystem web page.
How does EOS manage fees?
Unlike other networks which take a fee per-transaction, transaction fees on EOS are paid in batches based on your expected usage. This means that end-users have to manage fees less, and are able to process more transactions at a lower cost.. Applications are also able to fully abstract the fees aspect of a dApp away from the end-user by sponsoring their usage of the network, both in terms of network costs and storage costs. These features contribute to making EOS one of the most flexible and user-friendly networks in existence.
What does governance look like on EOS networks?
Typically EOS networks operate under a delegated proof-of-stake governance model, where the parameters of exactly how many delegates are involved, and other factors, can be altered by a network architect. However in private implementations, this governance method may vary by the operators. Since governance on Antelope is highly configurable, the default state is Asynchronous Byzantine Fault Tolerance Delegated Proof of Stake, it can be configured in a number of ways to meet a given particular use case.
Where can I learn more about EOS product releases?
EOS is an evolving platform built to facilitate the deployment and operation of reliable, secure, and scalable decentralized applications. The EOS Network Foundation (ENF) continues to address developer and industry needs, while enhancing the overall capabilities of EOS. The goal of these upgrades are to continue making it faster, more configurable, reliable, and accessible to a wider range of developers, as well as public and private institutions. Regular news about the EOS ecosystem and EOS product releases can be found in the ENF Blog, ENF Github and the ENF Twitter.
Why build on EOS? How is it different from other blockchain technologies?
EOS is an open-source platform that stands out with its exceptional transaction speeds (10,000+ TPS), 500ms block times, flexible account permissions including multi-signature support, extremely low costs, and upgradeable contracts, and to simplify user experience, EOS uses human readable account names rather than ambiguous public keys.EOS also has the capacity to continuously upgrade its network without contentious hard forks, and does so through a coordinated Spring and Fall release cycle that rolls out new features and capabilities for the network.Because of its unique permission structure, EOS allows applications to abstract away the complexities of account and resource management to deliver a seamless and intuitive experience for end users.
How do I get started on EOS?
Developers can learn, build, and deploy projects on EOS with resources in the Learn and Earn portal. The program empowers developers, ecosystem contributors, and other blockchain enthusiasts to learn core concepts and explore the capabilities of EOS. The Blockchain Basics section of the developer documentation is another great place to start.End users can check out the Introducing EOS webpage, then jump into the wide array of dApps that are live on the EOS Ecosystem page. Both builders and users are encouraged to join the EOS Community Discord and connect more directly with other Web3 enthusiasts that are passionate about EOS.
What prerequisites do I need to build on EOS?
Building on EOS requires you to know the basics of smart-contract programming, as well as a basic understanding of blockchain technology. At the native layer, developers typically interface with EOS technology through C++ and Docker Utilities for Node Execution (DUNE). Having a basic understanding of Solidity programming and EVM based dApps is also enough to get started building on the EOS EVM. There are a variety of documentation and tools available to help you learn, whether you are a novice or an expert. Visit the Developer Documentation to get started.
The EOS Public Blockchain was created by thousands of developers around the globe who harnessed the power of Antelope to write the future. Today, it is among the most active public blockchains in the world. The EOS Network is governed by the token holders who vote and select block producers, as well as the block producers themselves who participate in validating transactions and securing the chain.
What is the EOS token?
The EOS token is the native utility token of the EOS blockchain. EOS provides holders with several key benefits including a fast and secure medium of exchange, governance in the direction of the network, access to network resources and more. Learn more about the EOS token on the EOS Tokenomics web page.
Where can you store EOS?
It’s important that EOS token holders take the necessary steps to ensure the safety and security of self-custodied funds. Token’s are held within EOS accounts which can be leveraged using one of the following wallets:
These allow users to safely store their public and private keys, send and receive EOS, monitor account balances, and interact with the EOS Network. Token holders on the EOS EVM can also take advantage of EVM based wallets such as Ledger and MetaMask. Learn more about available wallets and signers on the Introducing EOS page. More information can also be found on the EOS Ecosystem page.
What are the benefits of a Delegated Proof of Stake (DPoS) consensus mechanism
The primary benefit of having such a consensus mechanism is that the EOS Network can consistently maintain a low latency in transaction processing, while minimizing missed blocks caused by networking issues. This is due to the network having a relatively stable set of active professional BPs who optimize their infrastructure for high performance. A secondary benefit is that the 21 active BPs effectively act as representatives of the token holders, which allows them to efficiently reach governance decisions through on-chain multisig approvals. This includes issues such as activating consensus upgrades to enhance the blockchain protocol, or adding new features provided by system-managed smart contracts. Here is an example of how EOS’ underlying DPoS consensus mechanism enabled BPs to intervene and freeze stolen funds.
How scalable is EOS?
EOS itself is among the most scalable of blockchains. Through employing side-chains powered by the underlying capabilities of Antelope Inter-Blockchain Communication (IBC), EOS approaches near infinite horizontal scalability.
How flexible is EOS?
EOS was purposely designed with a native permission system that allows users to easily secure their EOS accounts with multiple keys that can further be configured to have limited access to different smart contract actions. This flexibility enables developers to accommodate leading use cases as they continue to emerge in the Web3 space.
How performant is EOS?
The extremely fast performance of EOS is due in large part to EOS VM, a low-latency and highly performant WebAssembly engine which enables the EOS Network to execute smart contract code while keeping transaction costs low. EOS allows developers to do more and waste less by effortlessly optimizing and integrating digital resources.
How reliable is EOS?
EOS is considered one of the most reliable blockchains today. With zero downtime since June 2018, EOS is among the longest-running blockchains alongside the likes of Bitcoin and Ethereum.
What is Recover+?
Recover+ (R+) is a cyber-security portal and rapid incident response program within the EOS Network. It is designed to safeguard EOS DeFi projects and their users through the use of bug bounties and white-hat incentives. Recover+ also offers an avenue to move swiftly and recover stolen funds in the event of a malicious hack. Here’s an example of how Recover+ recently intervened and froze stolen funds.
EOS Receives Regulatory Approval in Japan, Expanding Adoption in East Asian Markets