What is EOS?
EOS is a digital currency that operates on its own blockchain. This blockchain is open-source and supports artificial intelligence contracts and additional decentralized applications (dapps). It is worth noting that there are no transaction fees for sending and receiving EOS.
Unique Features of EOS
The primary unique feature of EOS is that it does not impose any transaction fees. Instead, miners are rewarded with EOS coins for their efforts. This means that there is built-in inflation within the EOS system. Those who stake EOS provide stability to the currency while others engage in mining and trading.
How to Mine EOS
EOS does not use a Proof-of-Work mining system like Bitcoin or Ethereum, where you can earn fees by running a miner. Instead, EOS relies on a system called “Delegated Proof-of-Stake” where block producers are elected by the network to handle transactions on the chain on its behalf.
How to Buy and Invest in EOS
If you want to buy or invest in EOS, the easiest way is through a major cryptocurrency exchange. EOS is widely supported, so you can purchase it using exchanges like Coinbase or any platform where you keep your cryptocurrency wallet.
Notable Events
EOS is a reliable digital currency as far as cryptocurrencies go. However, there have been some challenges in its ongoing history. In June 2017, the company behind EOS, Block.one, raised over $4 billion when the EOS coin became public. The U.S. Securities and Exchange Commission (SEC) ordered it to pay a fine of $24 million for unregistered securities offerings through the EOS cryptocurrency. Today, EOS operates without any ties, and this lawsuit seems to have concluded.
Source: https://www.thebalancemoney.com/eos-explained-5194641
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