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EOS is the native crypto currency of the EOS.IO block chain. The EOS Token is needed to access the EOS network, which is an operating software for dApps. What is impressive about EOS is the size of the decentralized network and its scalability potential. The EOS network was founded in June 2018 by Block.one, and launched by Dan Larimer and Brendan Bloomer. The EOS Token was offered to the public one year earlier, in June 2017. At the time of writing this report, June 2020, EOS is currently in 9th place in terms of market capitalization. At the end of April 2018, the EOS Token reached its highest price to date, at USD 22.89. At the time of writing this article, however, the price of the coin is USD 2.67. Larimer, the creator of the block chain, is known for helping to establish Bitshares and Steemit before the EOS project…

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The term crypto-currency is more common in media than the underlying technology of the block chain, whereby these two are inevitably connected. Contrary to the widespread opinion, crypto currencies are not always simply a digital currency or payment method. This misconception is certainly based on the familiarity of the largest block chain Bitcoin and its crypto currency of the same name, since the primary goal is to create a digital, decentralized and cryptographically encrypted P2P currency. Crypto currencies can have different meanings and functions. First of all one differentiates with crypto currencies between so-called Coins and Tokens. Difference between Coins and Tokens Coins use their own block chain, such as Bitcoin (Bitcoin), Ethereum (Ether) or NEO (Neo). They usually act as digital P2P currency. Tokens, on the other hand, do not have their own block chain, but use existing block chain networks and enable the creation of decentralized applications. For…

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If you are interested in crypto currencies and trade with them, you will sooner or later come across the term ERC20-Token. This refers to altcoins that are technically based on the block chain standard of Ethereum (ETH). What this means exactly is explained here. Ethereum (ETH), the second most important global crypto currency after Bitcoin, has quickly become popular because the block chain devised by Vitalik Buterin allows transactions to be linked to a smart contract. This is exactly where ERC20 tokens come in. From a technical perspective, they use the ETH block chain to process their transactions, but only move ETH for fees and record the actual movement of digital money in a Smart Contract. In the code of the ETH block chain, ERC stands for “Ethereum Request For Comments” and the 20 serves as an ID number indicating that the standard protocol is used. Advantages of ERC20 tokens…

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