EOS is a cryptocurrency token and blockchain that claims to operate as a smart contract platform for the deployment of decentralized applications and a decentralized autonomous corporation.

Creator: Daniel Larimer (CTO)

Created: May, 2017

Website: https://eos.io/

Whitepaper: Download

Description

A blockchain-based, decentralized operating system that enables developers to build decentralized applications (DApps) with ease

All-in-one solution for decentralized application developers providing all the necessary core functionalities like user authentication, cloud storage, and server hosting

Essentially EOS aims to

Eliminate the transaction fees via an ownership model wherein resources are allocated depending on the tokens held by an application owner

via an ownership model wherein resources are allocated depending on the tokens held by an application owner Provide scalability by processing millions of transactions per second with parallel processing and asynchronous communication

by processing millions of transactions per second with parallel processing and asynchronous communication Provide flexibility by freezing and bug-fixing broken applications and rollback changes

Technology

EOS is built on the backbone of the delegated proof-of-stake (DPoS) consensus architecture wherein the network chooses multiple “witness nodes” as representatives of the whole network for the purpose of maintaining the network and validating transactions.

Advantages of Delegated Proof of Stake (DPoS)

Saving on energy costs as there is no need for computing-hungry calculations

Promotes decentralization

Reduces transaction processing time

Key Points