What is EOS (now Vaulta)?
A blockchain built for fast, easy-to-use apps, and its 2025 rebrand.
The idea behind EOS
EOS was created to be a blockchain for building everyday apps, such as games and financial services, that could handle many users at once. Earlier blockchains were slow and sometimes expensive to use. EOS aimed to be fast and easy for developers, with an approach that did not make ordinary users pay a fee for every action.
A record-breaking token sale
EOS was developed by a company called Block.one, whose chief technology officer was Daniel Larimer. Between 2017 and 2018 Block.one sold EOS tokens in one of the largest initial coin offerings ever, reported at about four billion US dollars. The network launched in June 2018. In 2019 Block.one agreed a settlement with the US Securities and Exchange Commission over the sale, including a penalty of 24 million dollars. EOS attracted a great deal of early attention, but it did not live up to the expectations around it, and newer blockchains competed for developers.
How EOS works
EOS uses delegated proof of stake. Instead of thousands of anonymous miners, token holders vote for 21 "block producers" who take turns creating blocks. This is much faster and uses far less energy than proof of work, but it is more concentrated: critics argue that a small group of elected producers makes the network less decentralised than Bitcoin or Ethereum.
Apps on the network pay for computing power, bandwidth and storage (called RAM) using the token. Holders can stake tokens to get a share of the resources, rather than paying a fee each time.
New leadership: the foundation years
As Block.one stepped back, the community set up the EOS Network Foundation in 2021 to take over the work of developing and promoting the network. It later added upgrades and new features, such as compatibility with Ethereum-style apps.
The 2025 rebrand to Vaulta
In March 2025, the network announced it would rebrand as Vaulta, repositioning itself around what it calls "Web3 banking": linking traditional finance with blockchain technology. From 14 May 2025, holders could swap EOS for the new token, A, at a one-to-one ratio. The underlying technology stays the same. If you hold or want to buy it, check which name and symbol your exchange or wallet uses, and follow only the official instructions from the project, your exchange or your wallet provider.
Risks
- Uncertain future: the project has had to reinvent itself, and a rebrand doesn't guarantee success.
- Price volatility: you could lose everything you put in.
- Token-swap scams: whenever a coin changes its name or token, scammers set up fake "swap" sites. Use only official sources.
- Concentration: with only 21 block producers, the network depends on a small number of parties.
Project details change quickly. Check the official Vaulta website and your exchange for the latest information.
Following EOS prices on your smartphone
You don't need to sit at a computer to keep an eye on the price. This site works on phones, so you can open the rates page in your phone's browser and switch between US dollars, pounds sterling and euros.
- Add it to your home screen. On an iPhone, open the site in Safari, tap the Share button and choose "Add to Home Screen". On Android, open the browser menu in Chrome and choose "Add to Home screen" (the wording varies a little by phone).
- Use an exchange or wallet app. Most major exchange apps show live prices and charts, and many let you set price alerts that send a notification when a coin passes a level you choose. Look in the app's settings.
- Try a price-tracking app. Several free apps in the App Store and Google Play let you build a watchlist without buying anything.
A word of caution: checking prices constantly can tempt people into rash decisions. Many people find it healthier to check once a day, or to set alerts and then leave it alone.
Related: how blockchain works and exchanges.