EOS is a public blockchain network developed by EOSIO and leverages a delegated proof of stake (DPoS) consensus mechanism for securing its platform. The EOS network is one of many networks created on the open-source software framework of the EOSIO blockchain platform.

EOS is the native asset of the EOS Public Network, used to conduct transactions within the blockchain. It also serves as the governance token of the ecosystem, giving token holders the power to vote for block producers who validate transactions on the network.

EOS offers a public, transparent, and decentralized platform to run dApps. Backed by Block.one, its flexibility and scalability make it an ideal ecosystem to develop decentralized applications with real-world commercial and enterprise applications.

As of July 2022, the EOS ecosystem is home to nearly 600 dApps across DeFi, NFT, GameFi, social, and more categories. Data on Defiprime reveals that the DeFi ecosystem on the EOS protocol has 13 decentralized finance applications operational.

The EOS token is the native cryptocurrency of the EOS and EOSIO blockchains and has several uses. Lets take a look at some of them:

Staking Token

Staking EOS allows you to own a percentage of the networks resources based on how big or small your stake is. Unlike other blockchains that let you rent network resources by paying transaction fees, the EOS staking model enables you to own a portion of the blockchain, eliminating the need for transaction fees.

Governance Token

Utilizing a DPoS consensus mechanism, the EOS network gives EOS token holders voting rights to select block producers. These block producers are responsible for validating transactions. As a result, the EOS token aids the decentralization process within the EOS ecosystem.

Transfer Payment

The EOS crypto is a great way to send and receive payments digitally. It lets you transfer payments anywhere in the world in a few seconds, making it a faster, more convenient, and cheaper payment method than bank transfer.

Crypto Asset to Invest in and HODL

The EOS cryptocurrency is among the crypto market's top digital assets by market cap. It is a popular choice among crypto traders for buying, selling, and holding and enjoys high trading volume and liquidity on top crypto exchanges. Review the latest EOS price, market cap, 24-hour trading volume, and news before you buy or sell EOS.

Earn Passive Income

You can earn rewards in EOS and generate passive income through staking tokens. You can stake EOS to run a block producer, which will fetch you the highest returns, or run a standby block producer, but both require a high number of tokens to be staked.

You can also stake EOS on DeFi platforms and exchanges which support this option. BYDFi offers a convenient and risk-free manner to earn passive income through your EOS holdings via the Crypto Lending feature. You can head to this section to lend liquidity in EOS to the platform and receive attractive returns over seven days, 14 days, or 28 days.

The EOS price fluctuates based on numerous factors, including fundamentals related to the blockchain, general market conditions, and investor sentiment towards digital assets. The value of EOS could trend higher due to the following factors:

1. A positive market sentiment which increases interest among investors in buying EOS and other cryptos.

2. Increased adoption of the EOS ecosystem by dApp developers and users.

3. Upgrades from the EOS developers that make the blockchain more efficient to use.

On the other hand, the price of EOS could trend lower amid factors such as:

1. Negative market sentiment toward cryptocurrencies driven by a risk-off mood in the global financial market.

2. Increased competition from newer blockchains that offer more attractive platforms for dApp developers and users.

The EOS blockchain technology leverages a delegated proof of stake mechanism for achieving consensus, which is far more energy-efficient than proof-of-work blockchains like Bitcoin and Ethereum. As a result, running dApps on the EOS blockchain consumes far less computing power and energy resources, making it a greener blockchain than Ethereum.

According to analysis, EOS is 66,454 times more energy-efficient than Bitcoin and 17,236 times more energy-efficient than the Ethereum blockchain. The EOS mainnet consumes just over 630 MWh of energy and emits only 281 tons of CO2 annually, less than 0.01% of Bitcoins emissions.

Another exciting factor is EOSs commitment to sustainability, which makes it one of the world's greenest and environmentally responsible blockchain ecosystems. The network hosts several projects that help it earn carbon credits to help offset the entire EOS carbon footprint for a year.

You can stake EOS through supported DeFi platforms or cryptocurrency exchanges. You can also stake EOS to become a block producer or participate in the governance of the EOS blockchain ecosystem.

Here's how to delegate your stake to a block producer via REX:

1. Create an account with REX - the official wallet of the EOS network. The Resource Engine on EOS is a marketplace where you can access network resources.

2. Add your REX wallet details to the EOS Authority interface.

3. Go to BYDFi or any other exchange where EOS is listed to purchase the cryptocurrency.

4. Transfer the EOS tokens you bought from BYDFi or other platforms to your REX wallet.

5. Click on the Lend option in your REX account and stake to select a block producer on the network.

6. Enter the number of EOS tokens you want to stake, verify the transaction details, and confirm.

7. Sit back and receive EOS tokens as rewards for your staking.