In today’s post, we will tell you about EOS technology and its benefits. EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second.

What is EOSIO?

EOSIO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOSIO Software”) and can be used to launch private and public blockchain networks. This is achieved through an operating system-like construct upon which applications can be built.

The software provides accounts, authentication, databases, asynchronous communication, and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications.

Technical Features:

C++/WASM Virtual Machine

EOSIO uses C++ as the smart contract programming language. Once familiarity with EOSIO’s APIs has been achieved, a developer will be able to program EOSIO smart contracts using canonical C++ code constructs.

On top of EOSIO core layer, a WebAssembly (WASM) virtual machine executes smart contract code. The design choice of using WASM enables EOSIO to re-use optimized and battle-tested compilers and toolchains, which are being maintained and improved by a broader community. In addition, adopting WASM standard also makes it easier for compiler developers to port other programming languages onto EOSIO.

High Throughput and Scalability

EOSIO is designed for achieving high transaction throughputs. Using the consensus mechanism of Delegated Proof of Stake (DPOS), an EOSIO blockchain network does not need to wait for all nodes to complete a transaction to achieve finality. This enables much higher transaction throughput when compared to other consensus mechanisms.

Faster Confirmations and Lower Latency

To facilitate good user experience, EOSIO is designed to have low latency for transaction confirmation so that applications built by developers can compete with non-blockchain, centralized, alternatives.

Feeless and Cost Predictable Blockchain

Applications built on EOSIO can adopt a freemium model in which users are not required to pay for the cost of infrastructure. EOSIO blockchains are unique in that the infrastructure resource is regulated by a staking mechanism. Infrastructure resource is based on token staked in ratio to the total available resource and is fixed once tokens have been staked.

Comprehensive Permission Schema

EOSIO has a comprehensive permission system for creating custom permission schemata for various use cases. It allows developers to build a permission application on top of a flexible infrastructure without having to reinvent the wheel.

Less energy consumption

With DPOS as the consensus mechanism, EOSIO consumes much less energy to validate transactions and secure a blockchain compared to other consensus algorithms

Programmable Economics and Governance

The resource allocation and governance mechanism of any EOSIO based blockchain are programmable via smart contracts. Developers only need to modify the system smart contracts to change resource allocation and governance rules of an EOSIO blockchain.