What is the use of eos coins?

The main uses of EOS coins include: staking voting, resource purchasing, transaction fees, governance, staking rewards, inflation, and supporting decentralized applications (dApps).

Uses of EOS Coin

EOS Coin is the native token of the EOSIO blockchain platform and has the following uses:

1. Mortgage voting:

• EOS coin holders can vote for block producers by staking EOS coins.
• The block producer with the highest votes is responsible for maintaining and updating the blockchain.
• Voting rights are proportional to the number of mortgaged EOS coins.

2. Resource purchase:

• Resources (such as CPU, memory and network bandwidth) on the EOSIO blockchain require payment.
• EOS coins can be used to purchase these resources to execute smart contracts and other operations.

3. Transaction fees:

• You need to pay a small amount of EOS coins as transaction fees when conducting transactions on the EOSIO blockchain.
• The amount of the fee usually depends on the complexity and resource consumption of the transaction.

4. Governance:

• EOS currency holders can decide the future development and rule modifications of the blockchain by voting.
• The number of EOS coins held determines the weight of voting rights.

5. Staking rewards:

• EOS coin holders can obtain staking rewards by entrusting EOS coins to block producers.
• Rewards depend on the number of staked EOS coins and the performance of the block producer.

6. Inflation:

• EOS blockchain will issue a certain number of EOS coins every year as inflation rewards.
• Part of the inflation reward is allocated to holders of mortgaged EOS coins, and the other part is allocated to block producers.

7. Decentralized Applications (dApps):

• dApps developed on the EOSIO blockchain can accept EOS coins as payment or Governance token.
• This enables developers to create blockchain-based applications and provides new economic incentives to users.

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