In this blog, we show you how to add EOS to MetaMask wallet. First, we talk a bit about what the network is and what it does, etc. If you do not want to read about that and directly want to see how to add EOS to MetaMask. You can go down this page and start reading “Getting EOS on MetaMask”.
What is EOS?
With the steady high fees on the Ethereum blockchain. The search for a better faster network is high. Many projects have started over the years with the attention of being the Ethereum killer. One of these blockchains with the biggest ICO ever is EOS.
EOS.io, the platform behind the EOS blockchain had its whitepaper published on the internet in 2017 by Block One. Shortly after Block One started the EOS.io ICO. This ICO raised 4 billion US Dollars. The larges ICO amount ever. With a high valuation and price comes high promises and expectations too. Labeled as the Ethereum killer around the time. The team expected to lay waste to the high fees and slow transactions on Ethereum. With their new efficient smart contract blockchain.
To do so the team acquired more than enough money and talent in the crypto space. With people like Mike Novogratz, CEO of Galaxy Investment. And programmer Dan Larimer supported the project.
So from the start, people had high expectations of the new network. Currently, EOS crypto achieved some of its goals. With the network capability to already transact thousands of transactions per second. But do not see this many transactions submitted to the network on a regular basis. But still, as of writing, we see tens of transactions being confirmed every second on EOS block explorers like EOSFlare.io.
So we can see that the network has quite some active users. With millions of accounts already created on the network and hundreds of Dapps.
Dapps on EOS
The blockchain has delivered some pretty impressive work which brought many developers and Dapps teams to the platform in the first place. But sadly not every one of them was very satisfied. Because of that reason a lot of developers have moved away from the project, to start out somewhere else. But don’t worry, the network still has a large dev community that works daily to bring amazing Dapps to the blockchain. That has resulted in many on-chain accounts. With Dapps like Upland, Everypedia and Yup attracting many users. Because of the way the EOS blockchain is structured, using these Dapps should be free. As the EOS token holders can transact at no cost on the network.
Because of this it still has hundreds of Dapps building on top of the blockchain. Creating many EOS accounts every day. That together provides services for thousands of users.
The EOS token
Unlike other blockchains on the EOS network, users do not need to pay transaction fees. Because of this reason the EOS token does not function as a transaction token. But rather as a bandwidth and governance token. This means that for applications to run on top of it they need to stake a number of EOS tokens. So basically all Dapps on the network need to hold the token. Besides that, the token is also used for the governance of the network. Because the network works with a DPOS (Delegated Proof Of Stake) method that decides who holds authority on the chain. This simply means that token holders can give their vote to a block producer candidate. Doing so 21 validators are voted into power. They have the authority and control the network bandwidth, transactions, and possible upgrades.
You may wonder, but what do the validators get in return if there is no gas fee to pay them? Well, it’s simple, to incentivize spending on the network and for validators to run the network. There exists a reward. Because the network validators are rewarded with freshly new-minted EOS tokens for every block. For this reward, new tokens are created. With a yearly increase of 1% of the whole token supply. Not too much thus. By doing so the networks hope to promote spending/using of the tokens as well as reward the network validators.
Staking on EOS
So as mentioned before. Staking on the EOS blockchain gives you access to the bandwidth of the network. But also allows you to vote on the network’s validators. This gives the EOS coin its use case, but can also earn you some interest. Because staking/delegating your EOS coin tokens to a network operator will usually pay you some interest. This interest comes from the rewards that the validators earn. Because validators of course want to stay in power. To do so they need a large number of tokens delegated to them. So to incentivize you to delegate your tokens to them. They often offer you a small interest in your tokens in return. Making it more worthwhile for you.
Briding to EOS
Bridging tokens from one chain to another can bring benefits to both. In the case of EOS. It can benefit from a bridge to Ehtereum. Because of Ethereum’s rich ecosystem and high liquidity. But also the other way around. Tokens on Ethereum or any other blockchain can bridge to EOS to benefit from the free transactions. So far we have not seen bridges between the protocols being used a lot. But they do exist and can transfer between blockchains at any time. One of these like BiFrost does this already today. Besides that, we may see more projects creating bridges in the future as the blockchain gains more adoption and the need for it is higher.
The EOS coin price has seen quite the swing since its beginning. With its all-time high (ATH) at 21 dollars in 2018. Since then the price just like that of many altcoins has lowered a lot. But has seen an uptrend during the last year. Where the price goes, we can not say as we are not financial advisers and do not make price predictions. However, if you are interested in the EOS price. It can be good to keep an eye out for EOS news. But also to see what is going on on their Twitter, Reddit, and Github. So that you can make your own price prediction.
To stay up to date with the EOS crypto price, you can take a look at their page on websites like CoinGecko, or CoinmarketCap. Here the price is constantly displayed and updated 24/7.
The Future of EOS
Because the future is always uncertain, it is difficult to say where EOS will go. The blockchain works but still has some struggles and many of its early investors and community had higher hopes of Block One. Because many in the community find that they did not do enough after the launch of EOS. Because of this and the fact that the EOS.io software is completely open-source. Many groups have started their own network. This resulted in blockchains based on the EOS.io software like WAX, Telos, and Proton. You can search for wallets for these blockchains on our side as well.
As of today, EOS is still the top blockchain when it comes to EOS.io blockchains. But many of its community and developers have moved their projects to different chains like Binance Smart Chain, Polygon, WAX, and Avalanche. So its is very difficult to say where EOS will go into the future and how their roadmap will exactly play out. But there is still hope. The company behind EOS still has a lot of money from the ICO that they can use to promote and develop on the network. Block One does currently do so. With a new social media platform called Voice, that was being developed on top of EOS. But the new Voice social media platform changed its approach a lot and is now known as Voice the NFT market.
Wallets that support EOS
As the network was very popular (especially in the beginning), many wallets and exchanges have added the blockchain to their systems. This gives the blockchain a large number of wallets. So finding on should be easy. With the network in the top 10 of the number of wallets supporting the blockchain on Yada Wallets. Currently ranking number 7.
So you can find many EOS web, computer, hardware, and mobile wallets on our website. Wallets like Ledger, Bitkeep, Edge, and many more. So you should have it easy and find an EOS crypto wallet in no time. Because a good crypto wallet is very important for all crypto users. Especially if you want to stake tokens or use Dapps. You will need a crypto wallet. Because on a normal centralized exchange you cant do this. So if you want to do those things be sure to filter for a non-custodial EOS wallet. By using the “funds saved with – Your device” filter. This way you only find a wallet that lets you store the private key and keep you in full control of your tokens.
Now that you are more educated on the topic, are you ready to start learning “how to add EOS to Metamask wallet”? So you too can use your own EOS wallet. Let’s see how to add EOS to Metamask wallet”.
Getting EOS on MetaMask
So to add the EOS to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page).
Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.
Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the EOS Mainnet.
Now Metamask will ask you for the data needed to connect the wallet to the EOS. Please fill in the list below.
Network Name - EOS
RPC URL EOS - https://api.eosargentina.io
EOS Chain ID - 59
Symbol - EOS
EOS Block Explorer URL - https://bloks.eosargentina.io
When you have done this, you can just click save. And now you have added the EOS to your MetaMask wallet.
If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.
Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.
We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use EOS as much as you want.
Find your wallet here
In case you want to see all the other wallets supporting EOS mainnet. You can simply take a look here to filter between all wallets that do!
So we hope this article taught you more about how to add EOS to MetaMask wallet. But in case you have Questions regarding Crypto or Ethereum? Feel free to ask them on our online Facebook or Telegram groups. Because we are happy to help whenever we can!