EOS launched as a rival of other blockchain networks that supported smart contracts and the creation of decentralized applications. The development of the EOS platform was initiated by a firm named Block.One, and the platform made its debut in 2018. Prior to launch, EOS made the record of the longest-running ICO of all time that raised a record-breaking $4 billion to fund the project. The EOS platform aims to simplify the process of developing DApps so more developers take interest in the blockchain space and build more innovative solutions. The native currency of EOS is also dubbed EOS, and it is primarily used by network validators for staking and verifying new blocks of transactions. As of writing, EOS has a market capitalization of more than $2.854 billion and each EOS coin is worth $3.04. During the same time, there are almost 938.71 million EOS coins in circulation.
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